Snap shares plunge as influential analyst cuts its rating to sell in disparaging note September 12, 2018 Tech giant Snap shed nearly 10 per cent of its share price today after an influential analyst released a disparaging note on the firm's fortunes and slapped it with a "sell" rating. BTIG analyst Richard Greenfield urged investors to sell the stock in a note, saying he was "tired of watching Snapchat decline from the [...]
Vodafone broadband ads banned for making misleading claims about speed guarantees September 12, 2018 Vodafone ads featuring actor Martin Freeman have been banned by the watchdog for including misleading claims about broadband speeds and bill reductions. The TV and radio ad claim: "Vodafone guarantee your home broadband speeds or money off until it's fixed". But consumers and rival BT challenged the claim in the advert, saying it could not [...]
Sports Direct chair Keith Hellawell to step down from board following pressure from City adviser September 12, 2018 Chairman of Sports Direct Keith Hellawell is to step down from the board after the company's annual meeting later on today after facing pressure from an influential City advisory group. Hellawell has served as chair since November 2009, David Daly, a non-exec director will take on the role of chairman after the meeting with shareholders later today. [...]
IWG chief financial officer Dominik de Daniel to exit firm to ‘pursue other opportunities’ September 12, 2018 Shared office provider IWG today said its chief financial and operating officer Dominik de Daniel will leave the company to pursue other opportunities. The Regus owner said it had appointed Eric Hageman as interim chief financial officer. Hageman has experience as head of finance at a number of listed companies, including TeleCity Group. Read more: ING CFO [...]
Mike Ashley proclaims House of Fraser strategy will be a ‘game changer’ ahead of Sports Direct annual meeting September 12, 2018 Sports Direct boss Mike Ashley today said his strategy for newly acquired House of Fraser would be a "game-changer" ahead of his company's annual meeting today. "Our strategy to transform House of Fraser into the 'Harrods of the High Street' will be a game changer," he said. In a statement to the market ahead of [...]
Zara owner Inditex sales creep up as it expects profits to boom in second half September 12, 2018 The Spanish owner of high street store Zara Inditex today reported a steady increase in sales in the first half of the year. The figures The world's biggest clothing retail group said sales rose three per cent in the first six months of 2018, just surpassing €12bn (£10.7bn) for the first time. Net profit beat first half records, [...]
Judge tells Sports Direct to hand over documents in audit watchdog investigation September 11, 2018 A London judge today ruled that Mike Ashley's Sports Direct must hand documents to the accounting regulator to assist with an investigation into its 2016 financial results. Shares in the retailer fell as much as 9 per cent and closed five per cent down following the court judgement. The Financial Reporting Council (FRC) is investigating [...]
Ineos invests £60m to expand production at UK Grangemouth site September 11, 2018 Chemicals firm Ineos today said it was making a major £60m investment to expand production at its site in Grangemouth, Scotland. It will build an additional furnace at the 1,700 acre ethylene plant to improve the efficiency and capacity of the facility. In a statement, Ineos said the investment showed its commitment to British manufacturing at a time [...]
Nucleus Financial reports growing profits in first results since July IPO September 11, 2018 Investments management platform Nucleus Financial today reported growing revenues in its first results since it became a listed company. Following its admission to London junior market Aim back in July, the company said revenue rose 11 per cent to £12.6m, while after-tax profit nearly doubled from last year to £2.2m. For the six months up [...]
Pension schemes urged to be transparent about whether they’re making ‘socially responsible’ investments September 11, 2018 Savers will be able to easily check whether their pension is being invested in ethical or environmentally friendly investments in new measures outlined by the government today. Regulations expected to be brought in this week will require trustees of schemes to disclose where people's savings are going. Pension scheme members will be able to see [...]
