This is how much money Google, Apple, Facebook, Amazon and Twitter make every second January 28, 2016 Earnings season is upon us, and it's been a mixed bag: Facebook announced its revenues increased 51.7 per cent in the three months to the end of December, while Apple said its sales growth had slowed for the first time in a decade. It can be hard to keep track of it all, cutting through the hype [...]
Diageo profits hit by foreign exchange rates but beats expectations with a rise in organic sales January 28, 2016 Diageo reported a 1.8 per cent rise in sales in its half year results to the end of December 2015. The drinks giant owns the Johnnie Walker, Smirnoff, Baileys and Tanqueray gin brands, to name a few. Diageo shares fell 0.75 per cent to 1,854.50p in early trading. The figures Organic sales grew 1.8 per cent, and there was [...]
Pershing Square’s Bill Ackman apologises to investors as the hedge fund records its worst ever performance and Paul Hilal resigns January 27, 2016 Bill Ackman, founder and chief executive of Pershing Square, has apologised to investors after his hedge fund recorded its worst ever performance last year. In 2015, the fund made a 20.5 per cent loss, largely thanks to its large holdings in Valeant Pharmaceuticals. The fund's performance compares to an average 1.4 per cent increase in returns from investments in [...]
Texas Instruments is to close its factory in Greenock, Scotland resulting in nearly 400 job losses January 27, 2016 Texas Instruments (TI), the Nasdaq-listed electronic parts manufacturer has announced it is closing its factory in Greenock, Scotland, which could result in the loss of around 400 jobs. TI said it would be closing the factory in the Inverclyde area over the next three years, and moving its operations to "more cost-effective" 200-millimetre factories in Germany, Japan and [...]
Owner of Comparethemarket.com, BGL confirms it is looking at an IPO with Rothschild bank January 27, 2016 BGL, the parent company behind price comparison site Comparethemarket.com, is considering floating on the London Stock Exchange. BGL owns Comparethemarket.com, along with other brands including Beagle Street, which provides life insurance, and Dial Direct. Rothschild has been hired to advise the group on the potential float, although no decision has been taken yet. If it does take the company public Budget Holdings Limited [...]
Crowdfunding is getting less risky as failure rates fall dramatically, according to Beauhurst January 27, 2016 Crowdfunding is getting less risky, as the failure rate of equity-crowdfunded seed-stage companies in the UK falls to an all-time low. The start-ups using crowdfunding platforms to raise capital have become more successful, reducing the risk for investors, according to the latest data from Beauhurst, which tracks venture capital activity. Read more: The equity crowdfunding refresher: An investor's guide [...]
National Australia Bank shareholders approve plans to demerge Clydesdale and Yorkshire Bank in IPO next month January 27, 2016 Shareholders in National Australia Bank (NAB), which owns Clydesdale and Yorkshire Bank, last night voted overwhelmingly in favour of plans to spin off Clydesdale and float it on the London and Australian stock-markets next month. Clydesdale Group, which includes Yorkshire Bank and is often referred to as CYBG, is valued at an estimated £2bn. It is one of the largest of [...]
RBS share price dives to lowest level since 2012 as it announces £2bn provision for fines and £498m write-down for Coutts private banking January 27, 2016 The Royal Bank of Scotland (RBS) has announced a £2.5bn hit on its profits, thanks largely to a £1.5bn provision for claims in the US relating to mortgage-backed securities. The bank's share price was down 3.72 per cent to 251.2p just after markets opened this morning – its lowest since 2012. The bank will make a loss in 2015: [...]
Great Western Developments will invest £47m of its own funds into the tube developments at Paddington station January 26, 2016 Great Western Developments, the developer working on the revamp of Paddington station and the so-called Shard of west London, has told City A.M. it will be providing the £47m investment needed to upgrade the tube station. Great Western Developments (GWD), a subsidiary of Singapore’s Hotel Properties, is working with the team behind the Shard and the London Bridge redevelopment, Sellar Property [...]
Crowdfunding site SyndicateRoom joins forces with angel investors on Gust, the world’s largest investor network January 26, 2016 SyndicateRoom, the UK-based crowdfunding platform, has announced a partnership with Gust, the world's largest online community of early stage investors and entrepreneurs. The two companies will pool their networks, allowing UK-based companies crowdfunding on the sites to access a larger pool of investors. Goncalo de Vasconcelos, CEO and co-founder of SyndicateRoom, said: Our partnership with Gust is based [...]
