GlaxoSmithKline to name Sir Philip Hampton chair September 24, 2014 SHARES in pharmaceutical giant GlaxoSmithKline (GSK) rose slightly in late afternoon trading yesterday after it emerged that Sir Philip Hampton was likely to be named as its new chairman. GSK is likely to announce Hampton’s move in the next two days – and with such a large job he is expected to eventually give up [...]
Samsung’s Apple-busting strategy: Pull its Galaxy Note 4 release date forward in China and South Korea September 24, 2014 Samsung will launch its brand new Galaxy Note 4 "phablet" ahead of schedule in China and South Korea this week. With Apple reporting record-breaking sales of its new iPhone 6 and iPhone 6 plus, Samsung has responded by getting its new product out in the two vast Asian markets at the earliest possible date. [...]
Share price up after rumours RBS’ Sir Philip Hampton “will be named GSK chairman before the weekend” September 24, 2014 Shares in pharmaceutical giant GlaxoSmithKline rose slightly in late afternoon trading after it emerged Sir Philip Hampton is likely to be named as its new chairman. Shares climbed 0.2 per cent to 1,425p, having spent the afternoon around the 1,418p mark. GSK is likely to announce Hampton's move in the next two days – such [...]
Profit warning is not sweet for Tate & Lyle September 23, 2014 SHARES in Tate & Lyle plunged to a three-year low yesterday after the food ingredients group warned that supply chain issues in the US and fierce competition in the sweetener market meant full-year profits would be lower than expected. Tate & Lyle said a “severe winter” in the US had disrupted operations at its corn [...]
London Report: New US pharma rules drag down UK drug firms September 23, 2014 THE FTSE 100 took a tumble yesterday as pharma shares were hit by overnight news that the US had announced new rules to reduce the benefits available to its companies buying overseas businesses for tax reasons. The FTSE 100 suffered a 1.44 per cent fall to 6676.08 points, its worst performance since 3 March. Poor economic [...]
Apple sells record 10m iPhone 6 smartphones in just three days September 22, 2014 APPLE broke its own records over the weekend selling more than 10m iPhone 6 and iPhone 6 Plus devices. Last year, Apple sold 9m of its iPhone 5S and 5C in 11 countries. This year it exceeded that figure despite launching in just 10 countries, missing out on the huge Chinese market where it is [...]
Banks boost Alibaba’s float to record $25bn September 22, 2014 ALIBABA’S underwriters have issued additional shares following its float on Friday, bringing the total funds raised to about $25bn (£15.3bn) and making it the largest initial public offering (IPO) in history. The move to exercise what is known as the “green shoe” option as part of Alibaba’s initial public offering was widely expected if its [...]
China slowdown hits high fashion and miners September 22, 2014 CONCERNS of a continuing slowdown in China hit shares of a wide and diverse range of major global firms yesterday, from high fashion chains to huge mining companies. Shares of Italian fashion brand Prada fell to their lowest in 26 months during trading yesterday on fears of weaker consumer demand growth in China, a key [...]
WPP investing $25m in adtech September 22, 2014 ADVERTISING giant WPP yesterday announced it had taken a $25m (£15.3m) stake in AppNexus, the world’s largest independent adtech provider based in New York. AppNexus’s technology lets marketers, publishers, content providers and media investment management firms to buy and sell digital advertising, which delivers 30bn impressions a day. WPP said the investment would cement its [...]
Marks & Spencer’s clothing sales through Alibaba soar in China September 21, 2014 Alibaba, the Chinese e-commerce giant which could hold the title of having the world’s biggest ever initial public offering after raising $21.8bn on Friday, has helped to boost Marks & Spencer’s (M&S) online clothing sales in China. The head of M&S’s overseas internet business, Ricky Wilson, said on Saturday that M&S is now the fastest [...]