Amazon share price dives as losses increase More of the same from Amazon, as it continues its tradition of favouring growth over profits. The e-commerce giant has just announced a loss of $126m, or $0.27 per share for the three months to the end of June, coming in significantly below Wall Street estimates of a $0.15 per share loss. The second quarter [...]
Starbucks tops expectations as profits rise by more than 10pc Global coffee giant Starbucks topped Wall Street expectations once again. The Seattle coffee chain reported earnings per share of $0.67 for the quarter ended in June, compared to $0.66 forecast by analysts. Starbucks, which has stores in 63 countries and over 200 stores in London, said revenue rose by more than 10 per cent to [...]
Facebook share price soars to record high, double its IPO value It wasn't that long ago that Facebook's stock was on a downward spiral, as investors questioned the social network's ability to make money with an increasing number of people logged in via their mobile devices. What a difference two years makes in the world of social media and tech stocks. Today, Facebook shares surpassed $76, [...]
UK economy upgraded by IMF forecast. Here’s what else the World Economic Outlook expects July 24, 2014 Ahead of gross domestic product (GDP) second quarter estimates on Friday, which are expected to show that the British economy has surpassed its 2008 peak, the UK has received another boost in the form of an IMF forecast upgrade. The Washington-based fund, which pulled no punches in its criticism of the government's austerity programme last [...]
IMF upgrades UK growth expectations again but trims global growth forecast for 2014 to 3.4pc July 24, 2014 The International Monetary fund has slashed its global growth forecast to 3.4 per cent, down 0.3 per cent on its April estimates, following weak economic data from the United States and emerging economies. The surprise fall in US gross domestic product for the first three months of the year, which plunged 2.9 per cent year [...]
Almost one in three Facebook users access the social media site only on their mobile phones July 23, 2014 Facebook has just revealed a bumper earnings report once again, topping analyst estimates for the ninth consecutive quarter. While the topline figures are no doubt impressive, featuring a jump in revenue, net income, earnings per share and advertising revenue, delving deeper into the numbers demonstrates how mobile is the motor behind Facebook's growth and that will [...]
Facebook profits continue to surge as mobile ad revenue soars July 23, 2014 Facebook has smashed Wall Street revenue and earnings estimates – again. The social network reported that its revenues jumped from $1.8bn in the second quarter of 2013 to $2.9bn in the three months from April to June this year. Profits soared to $791m, earnings per share of $0.30, up by more than double the $333m, [...]
German city of Hamburg is the latest to try and ban taxi app Uber July 23, 2014 Yet another city that doesn't like Uber. The German city of Hamburg has become the latest to try and ban the smartphone taxi app service, further indication of the increasing pressure the US company is facing from local regulators and cab drivers. The San-Francisco based firm, which operates in more than 149 cities in 42 [...]
GlaxoSmithKline share price plunges following a 14pc fall in profits July 23, 2014 No respite for GlaxoSmithKline. Shares in the pharmaceutical giant took a drubbing today, plummeting as much as 6.9 per cent after the drugmaker posted a 14 per cent fall in second quarter profits. Shares recovered slightly, closing down around five per cent. One of its key drugs, Avadir, a treatment for asthma, makes up around [...]
US extends flight ban to Israel for another 24 hours July 23, 2014 The United States has renewed its ban on airlines flying to Tel Aviv for a further 24 hours, the Federal Aviation Administration (FAA) said. A host of major US and European carriers suspended flights to Ben Gurion airport in the Israeli city of Tel Aviv on Tuesday, after a rocket strike on Tuesday is reported to [...]
