Groupon profit beats estimates November 7, 2013 Daily coupon website Groupon’s third quarter profit beat analysts’ estimates as strong growth in North America helped offset a decline in international revenue. Groupon shares were up nearly 8 per cent in extended trading after sliding more than 10 per cent. Revenue from North America, Groupon’s fastest growing region, grew 24 per cent, while revenue [...]
Bottom Line: Investors may be sorry they friended Twitter November 7, 2013 THE comparisons are inevitable. Just 18 months after Facebook made its market debut, Twitter looks likely to have leapfrogged Google to become the second biggest US internet IPO in history – raising up to $2.1bn and, astonishingly, almost doubling its market cap in the first hour of trading. In contrast to Facebook’s car crash of [...]
Two billionaires emerge from Twitter rich list November 7, 2013 TWITTER’S highly anticipated market debut granted entry into the billionaire’s club for not one, but two of its founders yesterday. Evan Williams, Twitter co-founder, first investor and chief executive from 2008 to 2010, now boasts share holdings in the social network worth more than $2.55bn (£1.59bn). Jack Dorsey, co-founder and chief executive from 2007 to [...]
Strong growth in US economy beats forecasts November 7, 2013 THE US economy grew well ahead of expectations in the third quarter of the year, expanding by 2.8 per cent on an annualised basis, according to the first official estimate. Though the figures revealed a slowdown in personal consumption yesterday, a rise in inventories allowed for a quicker pace of growth. The rate was faster [...]
Strongest pick up in wages since before crisis seen by recruiters November 7, 2013 RECRUITERS recorded the strongest increase in permanent salaries since before the financial crisis last month, an early indication that the economy’s recent upturn may finally be translating through to wages. Research out today says the number of recruitment and employment consultancies reporting an increase in permanent salaries has risen to 18.1 per cent. The latest [...]
Lonmin chairman to retire in 2014 November 7, 2013 FTSE 250-listed South African platinum miner Lonmin yesterday said its longstanding chairman Roger Phillimore is stepping down next year. He will remain in office until his successor has been hired and the selection process has already been started. “After sixteen years [at Lonmin] it is time for me to move on,” he said. South Africa’s [...]
Industry finally rises for Spain November 7, 2013 Data released yesterday showed a mixed picture for Eurozone industrial output with Spain recording increased production in September for the first time since February 2011, while Germany experienced a decline in the same period, causing some to question its ability to support Europe’s faltering recovery. Germany posted a September decline in industrial production of 0.9 [...]
Opec says industry needs £4.7trn November 7, 2013 The global energy industry needs $7.5trn (£4.7trn) worth of infrastructure investment, according to new data from the Organisation of Petroleum Exporting Countries (Opec). In the annual bulletin, Opec – which represents the world’s 12 largest oil producers – said global oil demand would grow to 108.5 million barrels per day by 2035. Car ownership in [...]
Review: How John Lewis has used a bear and a hare to lure in Xmas trade November 7, 2013 WITH just one John Lewis product used in the whole advert – an alarm clock given to a bear by a hare so that he can wake up from hibernation to enjoy Christmas – its keenly awaited Christmas advert appears at first glance oddly non-commercial. But by deciding to use animation and a simple tale [...]
Morrisons boss insists sales will return to growth November 7, 2013 MORRISONS’ boss Dalton Philips has insisted that like-for-like sales will move back into the black over Christmas despite the supermarket chain suffering a further deterioration in trading in the third quarter. Sales at stores open more than a year fell 2.4 per cent in the 13 weeks to 3 November, at the bottom of analysts’ [...]
