Under Armour share price slides as net income falls despite soaring revenues April 21, 2015 The figures Under Armour cemented its membership in the sportswear major players club after reporting revenue growth above 20 per cent for the 20th successive quarter. Turnover at the sportswear brand increased by 25 per cent to $805m (£541.1m), encouraging the company to boost its outlook for the full year to $3.78bn. In contrast to [...]
Why robust regulation of retail trading is a competitive advantage April 19, 2015 Since the financial crisis, regulation has been debated extensively; as financial markets have become more accessible to retail consumers, protecting them has never been more important. The decision by the Swiss National Bank to remove the cap on euro-Swiss franc in January 2015 caused turmoil in currency markets, and given the impact this had on [...]
GoDaddy share price soars on debut as valuation climbs to $5.5bn April 1, 2015 Web hosting company GoDaddy saw its share price rise by 34 per cent on its first day on the New York Stock Exchange, valuing the company at well over $5.5bn (£3.71bn). GoDaddy raised $460m from its IPO, having sold its complete offering of 23m class A shares at a price of $20 per share – [...]
Google just hired Morgan Stanley finance chief Ruth Porat as its new CFO March 24, 2015 Google has named a replacement for departing finance chief Patrick Pichette. Ruth Porat will leave her role as finance chief at Morgan Stanley to fill Pichette’s shoes after the long-standing executive revealed he was departing the internet giant just under two weeks ago. Investors responded positively to the news – shares were up by around [...]
RBS cuts stake in US with $3bn Citizens sale March 23, 2015 RBS WILL cut its stake in US bank Citizens to below half this week, as it yesterday announced plans to sell off more shares in the lender. The bailed-out British bank is cutting down its overseas presence to focus on the UK market. It floated Citizens on the New York Stock Exchange six months ago, [...]
RBS to sell stake in US subsidiary Citizens Financial March 23, 2015 Royal Bank of Scotland will shrink its stake in its US subsidiary Citizens Financial to below 50 per cent. Citizens Financial has announced RBS will sell off 115m shares in the company which only listed on the New York Stock Exchange in September. RBS will also grant the underwriters – including Morgan Stanley, Goldman [...]
GoDaddy goes for float with a $3bn price tag March 19, 2015 WEB FIRM GoDaddy is expected to be valued at $2.9bn (£1.9bn) on its initial public offering (IPO), it was revealed yesterday. The web hosting and domain registration company serves 12.7m customers and saw its revenues rise 23 per cent to $1.4bn in the year ending 31 December. Net losses at the firm fell from $200m [...]
RBS scraps Amsterdam listing in latest sign of global withdrawal March 18, 2015 RBS abandoned its listing on Euronext Amsterdam yesterday, as so few traders buy and sell stocks on the exchange. The Dutch listing is a legacy of RBS’ ill-fated acquisition of ABN Amro in 2007, which contributed to the bank’s collapse and subsequent bailout the following year. But since then RBS has slashed its overseas and [...]
Investing in data software businesses: It’s risky, but Europe is warming to it says Tableau chief executive March 18, 2015 In 2003, Silicon Valley data cruncher Christian Chabot founded a company in his bedroom. He wanted to develop a data visualisation software for the masses. This led to the creation of Tableau – now a multinational company worth billions of pounds, of which Chabot is chief executive. It has taken off in a big way [...]
Sony share price jumps following increase in operating profit March 17, 2015 Sony’s share price opened five per cent higher on the New York Stock Exchange on Tuesday, after the company revised its third-quarter operating profit up 2.2 per cent to 182bn yen (£1bn). The company increased its operating profit for the year from the originally reported 178bn yen, which it said was based on [...]