Taxi app Uber referred to HMRC by TfL over tax complaint by Margaret Hodge October 15, 2014 Uber, the smartphone taxi app, has been referred to HM Revenue & Customers by London’s taxi and minicab regulator Transport for London (TfL). The referral follows a complaint by Labour MP Margaret Hodge that Uber’s Dutch operating firm Uber BV does not pay tax in the UK and was “opting out of the UK tax [...]
Netflix share price flops as higher prices hit signups and next quarter profits October 15, 2014 Online video streaming giant Netflix disappointed investors with quarterly subscriber growth below its own forecast and lower profit forecasts for the next quarter, due to the impact of its price hike for new customers in April. Netflix shares plummeted over 25 per cent in after-hours trading in what could wipe off as much as $6.8bn [...]
Circassia float sends Imperial profits soaring October 15, 2014 IMPERIAL Innovations, the Aim-listed commercialisation firm founded by Imperial College London, saw its profits soar seven-fold lifted by proceeds from four initial public offerings (IPO) of firms under its investment. The IPO of biotech firm Circassia Pharmaceuticals saw Imperial’s 14 per cent holding, its largest ever investment, in the group appreciate by £33.2m since its [...]
Hailo app says goodbye to US October 14, 2014 LONDON-based taxi app Hailo will pull out of the North American market as competition between rivals such as Uber and Lyft intensifies in the region. The company, which partners with local taxi firms as opposed to competing with them like Uber, confirmed last night it would instead focus its expansion on new cities in Europe [...]
SABMiller’s Asia beer volumes get China chills October 14, 2014 PERONI and Carling brewer SABMiller saw poor summer weather in China hit its larger sales in the second quarter, while strong soft drink sales and higher prices helped to support revenue growth of five per cent during the second quarter to 30 September. SAB has been trying to offset sluggish growth in developed markets by [...]
Amazon debuts same-day pick up service at 500 newsagents, corner shops and London Tube stations October 14, 2014 Online retail giant Amazon will this morning announce a same-day pick-up service in partnership with Connect Group’s newspaper and magazine distribution arm, Smiths News. The service will let customers order goods from Amazon as late as 11.45am for collection at one of 500 newsagents or corner stores from 4pm later that day. “This is our [...]
Quindell share price falls as chairman Rob Terry mulls break-up to unlock value October 13, 2014 Quindell’s chairman Rob Terry would consider demerging or selling parts of the business if it remained undervalued by the market. “The whole business as a public entity is undervalued because it’s trading on two times [enterprise value to earnings before interest, taxes and amortisation] when the index average is way higher,” Terry told City A.M. [...]
Analyst Views: What did you make of Quindell’s third-quarter financial results? October 13, 2014 ANDY BRYANT | CENKOS We have reduced our revenue forecasts to reflect higher provisioning against NIHL [noise induced hearing loss] cases, but the impact on profitability and cash is not material. The shares trade on around two times and the board continues to review a number of options to maximise shareholder value. ARUN GEORGE | [...]
Publicis Groupe buys a discounted 20pc stake in Matomy Media October 13, 2014 French advertising giant Publicis Groupe bought a 20 per cent stake in Israel-based digital advertising group Matomy Media for 227p per share yesterday, with an option of buying another 4.9 per cent. The deal was done below Matomy’s Friday closing price of 238p and the Israeli group’s founding shareholders were given permission by the broker [...]
YouGov chief: 2015 vote will be tough to call October 13, 2014 ONLINE pollster YouGov, which accurately forecast the Scottish referendum result in its election-night poll, said the outcome of next year’s general election would be far less certain. “The general election next year is going to be the most interesting one we’ve had for a long time, it’s about as unforecastable as anything with Ukip and [...]
