21st Century Fox’s first quarter revenues are a fantastic flop, slipping 6 per cent and sending share prices falling November 4, 2015 21st Century Fox saw its revenue drop to $6.1bn for its first quarter of 2016, falling six per cent from $6.5bn for the same period in the prior year. The media giant, known for films like The Fantastic Four, blamed lower cinema ticket takings as part of the reason behind the results. Revenue for its film [...]
Women and Equalities Committee examining impact of UK gender pay gap proposals on over 40s in new inquiry November 4, 2015 An inquiry into reducing the gender pay gap, which focuses on women over 40, was launched by the Women and Equalities Committee yesterday. “The gender pay gap is mainly a problem for women over 40, and currently hits women in their 50s even harder,” said Committee chair Maria Miller. “However, the measures already announced by the [...]
Payday lender CashEuroNet UK agrees with FCA to compensate nearly 4,000 customers to the value of £1.7m November 4, 2015 CashEuroNet UK, which trades as Quick Quid and Pounds to Pocket, has agreed with the Financial Conduct Authority (FCA) to compensate nearly 4,000 customers to the value of £1.7m. The payday lender has agreed that 2,523 customers will have their loan balances written off, 961 will have interest paid on the unaffordable part of their [...]
Tesla share price surges 10 per cent on open as firm reports jump in revenue November 4, 2015 Shares in Tesla Motors leapt up 10 per cent on market open today, after the firm reported revenue of $936.8m (£607.5m) for the third quarter of 2015, up 10 per cent from $851.8m in 2014, late last night. The company recorded net losses of $229.9m during the three months to 30 September, widening losses of $74.7m reported in the [...]
Public Accounts Committee: Taxpayers still being let down by HMRC, with low levels of prosecutions for tax evasion November 4, 2015 HM Revenue & Customs (HMRC) is still failing UK taxpayers, the Public Accounts Committee (PAC) has argued in a report released this morning. Although PAC’s Sixth Report of 2015-16, which examines how HMRC performed during 2014-15, praises the UK’s tax authority for increasing taxes collected while cutting running costs over the last five years, it [...]
GLA Conservatives estimates £576m per year tied up in spare London rooms and encourages Londoners to try out AirBnB November 4, 2015 London’s spare rooms could be worth £576m a year, according to Greater London Authority (GLA) Conservatives. Tony Arbour, GLA Conservatives Assembly tourism spokesman, has argued that half a million people in the capital could rent out a spare room to help pay their bills, which would also bolster London’s tourism industry. According to the GLA Conservatives’ [...]
Online marketplace Etsy all made up with 38pc revenue growth but shares tumble November 3, 2015 Etsy's share price dropped by 6.89 per cent after the close last night, as despite revealing revenue growth of 38 per cent for its third quarter of 2015, springing from $47.6m (£30.9m) in its third quarter of 2014 to $65.7m. The virtual marketplace also saw its active sellers grow 19 per cent to 1.5m and its active buyers [...]
Groupon reveals Rich Williams as new CEO as revenue dips to $713.6m for third quarter of 2015 November 3, 2015 Groupon has announced that current chief operating officer Rich Williams is to be the company’s next chief executive officer. Eric Lefkofsky, the company’s current CEO, will continue on with the company as chairman of the board of directors, and current chairman Ted Leonsis will become lead independent director. The announcement came at the same time [...]
Farmville creator Zynga zooms into profit with net income of $3.1m for third quarter of 2015 November 3, 2015 Zynga has entered the black, posting net income of $3.1m for its third quarter of 2015 with several new games pushing the firm's performance ahead. Shares in the company, which created Farmville and Words With Friends among several other games, went up by 1.22 per cent in after hours trading. By comparison, the social gaming developer made a [...]
FCA’s Tracey McDermott announces UK Debt Market Forum at ABI Conference November 3, 2015 Tracey McDermott, acting chief executive of the Financial Conduct Authority (FCA), revealed today that the FCA would be creating and chairing a UK Debt Market Forum. Speaking at the Association of British Insurers (ABI) Biennial Conference, McDermott explained: “This group will bring together the collective wisdom of a broad range of parties including industry, government [...]