Amazon shares rise in after hours trading as it unveils $5bn stock buyback February 10, 2016 Shares in US online retail giant Amazon spiked, before settling 1.4 per cent higher in after-hours trading, after it unveiled plans to buy back $5bn (£3.4bn) of shares. The company said will buy back shares "opportunistically from time to time when it believes that doing so would enhance long-term shareholder value", it said in a [...]
Expedia earnings miss expectations as Paris attacks take their toll February 10, 2016 This time last year, shares in Expedia soared 45 per cent as it reported impressive earnings. But in a statement today, the company said gross bookings increased 21 per cent in 2015, to $60.8bn, while revenues rose a more modest 16 per cent to $6.7bn. Meanwhile, adjusted earnings per share fell to $0.77 in the fourth [...]
Cisco share price leaps as it smashes expectations and hikes share buyback by $15bn February 10, 2016 Computer networking giant Cisco has smashed analyst expectations, with earnings per share of $0.57 in the quarter to the end of January, against expectations of $0.54. The company said it will increase its share buyback programme by $15bn (£10bn), pushing it up to a total of $112bn. Meanwhile, it declared a quarterly dividend of $0.26 per share, [...]
Hey, Adair Turner: It may be the new kid on the block, but peer-to-peer lending is more transparent than other financial products February 10, 2016 Last week the Peer-to-Peer Finance Association (P2PFA) put out figures showing our members lent more than £2.2bn last year – more than double the volumes lent in 2014. Anyone who follows the sector will understand the remarkable progress we have made in a relatively short period of time: after all, p2p lending only started in 2005. However, [...]
TfL Tube strike February 2016 update: RMT calls off London Underground maintenance workers’ strikes on Friday and Saturday 12 and 13 February – but more action is on the way February 10, 2016 The RMT union has called off a strike of Tube maintenance workers, planned to take place on Friday and Saturday. The strike, over what RMT called "basic safety issues", was set to last for 24 hours, from 6.30am on Friday. But today the union put out a statement saying it had received confirmation changes to [...]
Thanks, Janet Yellen: WTI crude oil price falls back below $28 February 10, 2016 US oil benchmark WTI crude fell back below $28 this afternoon, after comments from US Federal Reserve chair Janet Yellen warned turbulence on financial markets could derail economic growth. WTI crude fell to $27.75 per barrel after prepared remarks by Yellen showed she believes financial conditions have become "less supportive" of growth. The news follows [...]
Brave or foolhardy? US Foods shrugs off market turmoil to file for IPO February 9, 2016 US Foods, the US' second-largest food distributor, has just filed for a $100m (£69.1m) initial public offering (IPO) – despite two days of turbulent global trading. In a filing with the US Securities and Exchange Commission (SEC) today, US Foods said it will float on the New York Stock Exchange under the ticker symbol "USFD". The company [...]
Here’s how much people working at Silicon Valley tech companies including Google, Facebook and Salesforce earn in London February 9, 2016 Dream of rocking up to Google's plush St Giles office and making use of its famous slide to get to meetings? Fancy becoming a Twitter native? Loads of people dream of working for a US tech giant – but how much do they actually pay their London workforce? Jobs site Glassdoor, which compares salaries at [...]
UK house prices: The government’s revenues from stamp duty fell £620m in the first nine months of 2015 February 9, 2016 Changes to stamp duty by the government caused it to lose out on £620m of stamp duty revenues between January and October last year – and that's before changes to rules on buy-to-let properties come into force… Research by Knight Frank found the amount the Treasury made from stamp duty decreased 0.9 per cent between [...]
Oil skids lower, with the price of Brent crude hovering close to $30 while WTI crude falls six per cent February 9, 2016 Global oil price benchmark Brent crude fell 7.8 per cent to $30.32 per barrel in turbulent trading today today – hovering on the brink of the psychologically significant $30 mark. Meanwhile, US oil price benchmark WTI crude fell 5.9 per cent, crashing to $27.94 per barrel. Brent crude has traded above $30 since the end of January – but it was pushed [...]
