Gfinity losses widen on event investment March 17, 2015 Esport business firm Gfinity yesterday reported a wider loss for the first half of its financial year as revenue grew strongly but was more than offset by higher costs. However, the company said the investments it was making to build its brand were paying off as it added about 20,000 new registered users a month. [...]
BHP Billiton spin-off in good stead as debt is halved March 17, 2015 Commodities group BHP Billiton is set to spin-off its weaker assets with less debt than originally expected through fledgling mining company South32. South32’s portfolio of mines and refineries has long been overshadowed by BHP’s iron, petroleum and copper businesses. The smaller business contributed post-tax profits of $738m (£500m) in the last six months of 2014, [...]
BDO: What we expect and hope for in today’s Budget March 17, 2015 Our tax policy over the past decade has largely ignored the UK’s mid-market businesses despite this section of the economy being a significant source of tax revenues and widely regarded as the engine room for future economic growth. This fact needs to be acknowledged, with more targeted reliefs and incentives aimed at stimulating this fundamental [...]
Afren shares crash 14.14pc after investors continue with sell off March 17, 2015 EMBATTLED oil producer Afren continued to bleed yesterday as investors sold off shares for the third session running. Shares in the Africa-focused group, which recently slipped out of the FTSE 250, fell 14.14 per cent to 3.21p yesterday. This comes after the company’s shares closed down by 28 per cent on Friday, and by 24.3 [...]
Good Energy’s profits hit by warm weather March 17, 2015 WARM weather last year pushed Good Energy’s profits down by 33 per cent to £2.2m, the renewable energy supplier said yesterday, as customers delayed switching on their heating. But the firm, which now operates two solar farms, continued to recruit new customers – with 34 per cent growth during the year. Revenues for the 12 [...]
Losses double at tech firm WANdisco after year of rapid growth March 17, 2015 SHARES in tech firm WANdisco crashed yesterday, closing down 12.39 per cent after preliminary results revealed an almost doubling of losses last year to $39m (£26m) from $20m the year before. The firm’s pre-tax profit was hit despite the company recording a 40 per cent increase in revenue, from $8m to $11.2m in the year [...]
France, Italy and Germany join Chinese-led development bank March 17, 2015 FRANCE, Italy and Germany are joining Britain in becoming members of a Chinese-led Asian development bank. The finance ministries of both countries announced yesterday that they would apply for membership of the Asian Infrastructure Investment Bank (AIIB). Last week, the US issued a rare rebuke to Britain over its decision to become a member of [...]
City Moves for 18 March 2015 | Who’s switching jobs March 17, 2015 Baker Botts The law firm has appointed Mark Rowley as the partner in charge of its London office. He joined Baker Botts in London in 2001, and has subsequently held positions in its office in Baku in Azerbaijan and Brisbane in Australia. Stanhope Capital The investment office has announced two appointments to its private equity [...]
Best of the Brokers for 18 March 2015 March 17, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com GEM DIAMONDS Finncap reiterated its “buy” recommendation for the diamond mining firm. It announced a maiden dividend of 5 US cents per share, giving a yield of 2.3 per cent. The policy going forward will be to pay a dividend that represents a [...]
FTSE rises ahead of Osborne’s pre-poll Budget – London Report March 17, 2015 BRITAIN’S top share index edged higher yesterday to extend a recent rebound from last week’s lows, with gains coming in ahead of key policy announcements from the UK and the US. The FTSE 100 rose 0.5 per cent to 6,837.61 points, as shares of natural-resources producers ticked up and utilities pushed higher, led by a [...]
