Share price in FedEx up in after-hours trading after courier company announces revenue rise in third-quarter results March 16, 2016 Share price in FedEx rose in after-hours trading after the courier company reported its third-quarter results for the period ended February 2016. The company reported revenues of $12.7bn (£8.9bn), up 8.5 per cent from $11.7bn the year before, although net income dropped to $507m, down 19.3 per cent from $628m. "Our strong financial performance was driven by increasing demand [...]
Budget 2016: Lifetime Isa announced to stop younger people choosing between buying a house and saving for retirement March 16, 2016 Chancellor George Osborne has today announced a new lifetime Isa in his Budget speech to help under 40s who feel they have to make a choice between saving for a retirement or saving for a property. Similar to the help-to-buy Isa, government will boost the savers' pot, with the rate offered on the lifetime Isa being £1 [...]
Share price in Guess? down in after-hours trading as clothing company reports a fall in both revenues and earnings for year ended January 2016 March 16, 2016 Share price in Guess? dropped sharply in after-hours trading after the fashion company reported a decline in revenues for its results for the full year ended January 2016. The clothing company announced global revenues for its full-year of $2.2bn (£1.5bn), down 8.8 per cent from $2.4bn the year before, while net earnings dropped to $81.9m, down 13.4 [...]
Libor scandal: Convicted former UBS and Citigroup trader Tom Hayes tells Old Bailey how he broke down over rate-rigging allegations March 16, 2016 Tom Hayes told a court today how the rate-rigging allegations that eventually lead to his conviction caused him to suffer a breakdown, as he continued his legal battle over his assets. Hayes, who is serving an 11-year prison sentence after being found guilty of eight counts of conspiracy to defraud for his role in manipulating Libor, has [...]
Budget 2016: Insurance premium tax raised (again) by 0.5 per cent to fund further flood defences March 16, 2016 Chancellor George Osborne announced he will be raising insurance premium tax (IPT) by 0.5 per cent in his Budget speech today. However, he also said that the money raised from the tax hike would go towards funding flood and storm defences. IPT was increased from six to 9.5 per cent last November. The new rise [...]
Budget 2016: As chancellor George Osborne announces new lifetime Isa, young workers now face baffling saving choices March 16, 2016 The introduction of a flexible new savings product for younger workers sounds superficially attractive but opens up a baffling range of options and the risk of making damaging choices. In recent years millions of people in their 20s and 30s have been automatically enrolled into a workplace pension, benefiting from an employer contribution, tax relief [...]
Libor scandal: Serious Fraud Office (SFO) tells Tom Hayes to hand it all over as prosecution demands convicted former UBS and Citigroup trader’s assets, including wedding rings and Surrey house March 15, 2016 Fraud squad prosecutors issued Tom Hayes with a stark ultimatum on Tuesday – that he must hand over nearly everything he owns or face more time in jail. At a hearing in the Old Bailey, the prosecution alleged that Hayes, a former UBS and Citigroup trader, was only paid as handsomely as he was because he secured [...]
Eastman Kodak share price flat in after-hours trading as photography company’s turnaround on a roll with narrower losses for the year ended December 2015 March 15, 2016 Share price in Eastman Kodak stayed flat in after-hours trading as the photography company revealed that its losses had narrowed in its most recent set of results. For the year ended December 2015, the company reported a net loss of $75m (£53m), down from a loss in the prior year of $118m, despite revenues dipping slightly [...]
Oracle share price up in after-hours trading as software company reveals $10bn share buyback alongside results for its third-quarter of 2016 financial year March 15, 2016 Share price in Oracle was up in after-hours trading today after the software company announced an extensive buyback offer alongside its most recent set of results. The company revealed that it had pulled in revenue of $9bn (£6.4bn) during its third quarter of its 2016 financial year, down three per cent from $9.3bn the year before, [...]
IP Bill: Home Office wins vote on Investigatory Powers Bill, which government claims will help fight terrorism but businesses warn will risk customers’ security March 15, 2016 Government has won a vote in House of Commons to pass the controversial Investigatory Powers Bill this evening. The bill, which will give police and security forces greater powers to access communications data, was passed after a lengthy debate. Government has contended that the new legislation, which is being lead by home secretary Theresa May [...]
