Yahoo boosted by Alibaba April 15, 2014 STRUGGLING internet icon Yahoo last night reported sluggish revenue growth for the first quarter of 2014. But its shares were boosted by strong revenues at Alibaba, a Chinese firm in which Yahoo has a 24 per cent stake. Yahoo’s revenues edged up one per cent to $1.09bn (£652m) but net income fell 25 per cent [...]
Twitter buys data firm Gnip April 15, 2014 TWITTER welcomed another tech firm into its flock yesterday with the acquisition of Gnip, a provider of social data to websites such as Reddit, Instagram and Tumblr, for an undisclosed sum. “This acquisition signals clear recognition that investments in social data are healthier than ever,” said Gnip chief executive Chris Moody on the deal. Twitter [...]
Ukip strikes back after claims that Farage misused allowance April 15, 2014 UKIP party officials were on the attack yesterday, after claims that leader Nigel Farage misused allowances from the European parliament. The party published a list of journalists at The Times who it accuses of conspiring against Ukip to boost the fortunes of the Conservative party by publishing the expenses claims. Yesterday, The Times published a [...]
Credit Suisse hit by tougher tax evasion probe April 15, 2014 NEW YORK regulators have stepped up their investigation into claims Credit Suisse helped clients evade taxes, it emerged yesterday. The New York Department of Financial Services (DFS) last week subpoenaed the Swiss bank, requesting documents which may give evidence for the probe. It is looking for emails, travel records, expenses, calendar entries and other records relating to [...]
Forex boss at Lloyds resigns April 15, 2014 A TOP currency trader at Lloyds Banking Group has quit his job in the midst of an investigation into allegations of attempted market manipulation. Darren Coote has headed global spot trading at the bank since late 2011, and insiders say his departure is not related to the investigations. Coote previously worked at Swiss bank UBS. Lloyds said [...]
Most still don’t switch account April 15, 2014 CONSUMER watchdog Which? is calling for an investigation into competition in the current account market, after it emerged that just two per cent of people have switched accounts since new guarantees came into effect in September last year. Research found the seven day switching promise is failing to persuade consumers. The Competition and Markets Authority [...]
Ex-Icap staff in court facing Libor claims April 15, 2014 THREE former brokers at Icap were in court yesterday facing allegations of conspiracy to defraud by trying to manipulate key inter-bank interest rate Libor. Danny Wilkinson, Colin Goodman and Darrell Read (left to right) are accused of working with ex-UBS and Citi trader Tom Hayes to submit false interest rates, in a bid to improve [...]
Bottom Line: Retail can’t promise to learn from mistakes April 15, 2014 YESTERDAY was a glorious, sunny day in London – clear blue skies with a hint of the crisp spring weather that typifies a British April. Lunching City workers donned light coats and sunglasses, keen to soak up the rays. But forecasters are already warning that Easter weekend could be a washout – retailers who’ve stocked [...]
Investors cheer recovery plans for Debenhams April 15, 2014 DEBENHAMS’ shares climbed four per cent yesterday as investors welcomed plans to refocus its promotional strategy after a disastrous first half in which profits fell by almost a quarter. The department store group laid out plans yesterday to cut back on promotional activity, extend delivery times for online orders and partner with new brands to [...]
Gadget-maker JML sees profits decline by more than a quarter April 15, 2014 JML, the household products maker set up by Labour donor and economist John Mills, said profits fell by more than a quarter last year despite a 12.4 per cent rise in sales. The group sells quirky products such as Fast Fit Ironing Board Cover and its Shark steaming mops through its four television shopping channels [...]
