Weaker French demand weighs on Kingfisher September 16, 2015 SHARES in Kingfisher took a hit yesterday after the B&Q and Castorama owner said weaker-than-expected demand in France offset a stronger sales performance in Britain. The DIY giant, which also owns Brico Depot and Screwfix, said adjusted pre-tax profits fell by 2.3 per cent to £384m in the six months to 1 August, blaming adverse [...]
Fed rate hike expectations: Cheap oil and strong dollar blot outlook for Federal Reserve interest rates decision September 16, 2015 Clouds are gathering over the US economy as the release of bearish data spooks investors ahead of tomorrow’s highly anticipated Federal Reserve interest rate decision. Manufacturing output contracted by 0.5 per cent in August, according to Federal Reserve data released yesterday – the sector’s biggest output decline since January 2014. Industrial production, which includes [...]
LSE looks ahead after it sells tech company September 15, 2015 LONDON Stock Exchange Group yesterday confirmed the sale of its market data provider Proquote to IRESS, an Australian financial software firm. The group said Proquote, which it has owned since 2003, “was not central to its strategy going forward for the enlarged Information Services Division”. The Australian firm said the move was part of its [...]
London property: Luxury development in Camberwell to open books tomorrow September 15, 2015 It might have been relatively neglected in recent years, but south London village Camberwell is next on property developers' hit lists, with a new luxury development being launched this week. Singaporean firm Frasers Property is opening the books for Camberwell on the Green tomorrow, with the sales launch being held at the Pakistan Room [...]
iPhone 6s sales on track to beat Apple’s records September 15, 2015 Apple said yesterday that sales of its new iPhone 6s and 6s Plus are on track to beat last year’s record-breaking iPhone 6 and 6 Plus sales on the first weekend they hit the shops. “Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and pre-orders this weekend were very strong [...]
London Fashion Week kicks off as China slowdown is becoming an increasing headache for luxury brands September 15, 2015 Friday marks the start of London fashion week, when luxury brands flaunt their Spring/Summer collections on the catwalk and throw champagne-fuelled parties to celebrate the arrival of the next fashion season. But behind the scenes, the party mood is more subdued as luxury companies nervously assess how great an impact the ongoing economic slowdown [...]
iPhone 6s Vs iPhone 6 pre-order sales: Apple share price ticks up after revealing it’s on track to break first weekend record September 14, 2015 Apple has said that it's on track for sales of the new iPhone 6s and 6s Plus to beat last year's record-breaking iPhone 6 and 6 Plus sales on the first weekend it hits the shops. "Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and pre-orders this weekend were very [...]
Alibaba hits back at Barron’s article which suggests share price could plunge 50 per cent September 14, 2015 Alibaba has struck back at mounting criticism of its stock's performance, taking aim at a recent Barron's cover story, which suggested its share price could drop by 50 per cent from current levels. The Barron's article describes China's struggling economy and rising competition in the e-commerce market as cause for concern and argued Alibaba's price-to-earnings ratio and [...]
Shanghai Composite Index shares suffer amid disappointing Chinese economic data September 14, 2015 Chinese shares came under pressure again today, after disappointing economic data stoked concerns that the world's second-largest economy is losing momentum. The Shanghai Composite Index closed down 2.7 per cent, taking it to 3,114.80 points, also constituting the sharpest one-day drop since late August. Mainland Chinese shares have shed nearly 40 per cent since its [...]
Inflation likely to have dipped during August – London Report September 13, 2015 UNEMPLOYMENT figures out this week are expected to show a stable labour market, while elsewhere economists are forecasting a dip in inflation and retail sales. Data out tomorrow is expected to show that consumer price inflation dipped back to zero per cent in August, after rising to 0.1 per cent in July zero per cent [...]