Brexit referendum: S&P will downgrade the UK’s AAA credit rating if we leave the EU October 29, 2015 Britain's credit rating could be downgraded by as much as two notches if we leave the EU, Standard & Poor's told City A.M. yesterday. The UK has a AAA rating, but S&P's chief sovereign rating officer Moritz Kraemer said it could drop one notch, to AA with a vote to leave the EU, and drop two [...]
Starbucks’ record results leave investors wanting more as coffee chain posts muted outlook October 29, 2015 Starbucks shares plunged as much as $2.10 in after-hours trading despite releasing record full year results. The figures Starbucks' revenue for the last quarter (the three months to 27 September) was $4.91bn (£3.2bn), in line with forecasts. The 18 per cent increase from $4.18bn last year is a record for the company. Fourth quarter operating profits were also at a record [...]
LinkedIn share price rockets after revenues jump 37 per cent beating forecasts October 29, 2015 LinkedIn, the professional networking site, saw its shares shoot up 11.71 per cent after markets closed when it released its third quarter results. The figures LinkedIn beat expectations handsomely, with earnings per share of $0.78 compared to forecasts of $0.46. Revenue for the last three months was $780m (£509m), a jump of 37 per cent, [...]
Halloween 2015 could be worth as much as £400m to retailers October 29, 2015 We're used to grinches complaining Halloween is an American import they wish would go away, but it looks like Halloween in all its (fake)blood-soaked sugary glory is here to stay, bringing a welcome boost to retailers. Sainsbury's says Halloween is now the third biggest retail event of the year, after Christmas and Easter. Last year Planet [...]
If you want a real scare this Halloween try predicting oil prices October 29, 2015 Forget scary movies this Halloween, consider instead this graph, which shows just how badly oil has performed, compared to market futures contracts, and just how impossible it is to accurately predict what prices will do. (The bloody red line tracks oil’s price, and the dotted lines represent futures contracts.) Proving just how volatile the market is, [...]
Hostelworld does well in first day of trading on London and Irish Stock Exchanges October 28, 2015 Hostelworld, the online hostel-booking platform, floated on the London and Irish Stock Exchanges today, with shares priced at 185p, and closed up at 197.75p. Well done. The company said the placing of 71.7m shares at 185p would give it a market capitalisation of £176.8m, and hoped it would raise £125.4m. Following the float, US private equity [...]
GoPro share price tumbles more than 15 per cent as it misses estimates with revenues up 43 per cent October 28, 2015 GoPro shares plummeted 15.19 per cent in after hours trading after it released its third quarter earnings. The figures Despite posting revenue up 43 per cent from this time last year, to $400.3m (£262m), GoPro, the wearable camera company, fell short of the $433.6m expected by analysts. Net income was up 28.6 per cent to $18.8m from 2014, [...]
Dido Harding – did she TalkTalk a good game after cyber attack? October 28, 2015 When a chief executive steps up to communicate bad news, we expect them to do so confidently and openly – putting the interests of customers first and demonstrating that they are willing to take ownership of the problem and not shirk their responsibilities. In this sense, Baroness Dido Harding, the chief executive of TalkTalk, put up a [...]
“They’ve hawked it up a bit”: What the economists have to say about the Federal Reserve rates decision and the euro plunge October 28, 2015 The Federal Reserve committee left interest rates unchanged at 0-0.25 per cent this evening, surprising no-one, but sending the dollar soaring. The Federal Open Market Committee said in its statement, “economic activity has been expanding at a moderate pace” and said it would assess "labor market conditions, inflation pressures and financial and international developments" at its next meeting in December. Last month, [...]
Pound and euro plunge along with US markets as the Federal Reserve leaves US interest rates unchanged October 28, 2015 The Federal Open Market Committee has held steady and left interest rates in the US unchanged after its two day meeting. US markets have taken a dive as a result, losing the gains from this morning. The S&P 500 was down from highs of 2,083 to 2,065. The Nasdaq dropped from 5,074 to 5,027 and the Dow Jones [...]
