O2 revenue rises for third year running as it beefs up customer base February 20, 2020 O2 has posted its third consecutive year of revenue and profit growth as the mobile network continued to expand its customer numbers. Revenue rose 3.8 per cent to hit £6.2bn in the year to the end of December, while operating income was up 2.3 per cent to £1.9bn. The growth was driven by a continued [...]
Coronavirus: Oil price rises as virus spread slows February 19, 2020 Oil prices rose today amid hopes the coronavirus may have reached its peak. The 2.5 per cent rise was also put down to the US taking action against a Rosneft subsidiary supplying the Venezuela, helping limit supply further. Brent crude was up $1.47, or 2.6 per cent at $59.22 a barrel this evening. “There’s more [...]
London Black Cab maker targets export market as it moves beyond e-taxi sales February 19, 2020 The company behind the new generation of black cabs is planning to move beyond its core product. London Electric Vehicle Company (LEVC) will launch a new electric van later this year to diversity its product base. The company, owned by China’s Geely group, is best known for producing London’s electric black cabs. LEVC boss Joerg [...]
Coronavirus outbreak: Sportswear giants Puma and Adidas warn on trading impact February 19, 2020 German sportswear giants Puma and Adidas have warned that the outbreak of coronavirus in China has hurt trading due to the temporary closure of stores and a drop in footfall. Puma said the outbreak will impact sales and profits in the first quarter of the year, after it was forced to shutter more than half [...]
FTSE 100 climbs back after Apple’s coronavirus blow February 19, 2020 The FTSE 100 staged a recovery from yesterday’s two-week low today as traders welcomed a smaller increase in the number of new coronavirus cases. The number of Covid-19 cases rose to 75,000 today but China reported a second consecutive low number of new infections at 1,749. The death toll also climbed to 2,004 but the [...]
Coronavirus death toll hits 2,000 as passengers leave Diamond Princess cruise ship February 19, 2020 Hundreds of passengers started to disembark the quarantined Diamond Princess cruise ship today as the coronavirus death toll moved past 2,000 in mainland China. While the death toll hit 2,004, China reported only 1,749 new cases of Covid-19 to bring the total to 74,000. The novel strain of coronavirus is believed to have emerged from [...]
Apple supply chain sinks into red on coronavirus fears February 18, 2020 Shares in Apple slipped more than two per cent in afternoon trading while its suppliers around the globe were dragged into the red after the tech giant warned the coronavirus outbreak would impact its quarterly targets. The iPhone maker last night told investors that it would not meet its revenue forecast of between $63bn (£48bn) [...]
Trump issues fresh warning over ‘untrustworthy’ Huawei February 17, 2020 US President Donald Trump has launched a fresh attack on Huawei, warning his country could cut intelligence sharing with any ally that cooperates with the Chinese tech firm. Trump told the US ambassador to Germany Richard Grenell that “any nation who chooses to use an untrustworthy 5G vendor will jeopardise our ability to share intelligence [...]
US private equity funds swoop on UK for cheap deals February 17, 2020 The acquisition of UK companies by US private equity funds jumped 53 per cent last year as the depressed value of UK businesses make them attractive to overseas buyers. The value of UK companies acquired by US funds hit £14.2bn last year, up from £9.3bn in 2018. Brexit and pre-election uncertainty meant UK shares went [...]
US private equity snaps up UK companies on the cheap February 17, 2020 The total value of acquisitions of UK companies by US private equity funds jumped 53 per cent last year to £19.9bn. According to a report by law firm Mayer Brown, the depressed valuations of UK companies versus their European peers has made them look to be good value for funds. The period of Brexit uncertainty, [...]