Rival scheme threatens Heathrow Airport third runway legal challenge | City A.M. July 29, 2018 The backers of a rival project to expand Heathrow Airport have launched a legal challenge against the government’s decision to approve the third runway at the airport, Sky News reported. The rival Heathrow Hub project favours a scheme to extend one of the airport’s existing runways. Read more: Gatwick ‘respects Heathrow vote’ and vows to [...]
Amazon (AMZN) doubles down on profits, but misses estimates on revenue | City A.M. July 26, 2018 Amazon doubled consensus estimates on profits in its second quarter, as results released tonight revealed a staggering 1,157.5 per cent increase year-on-year in earnings per share. The company reported shareholder earnings for the quarter at $5.07 (£3.86), outperforming estimates collated by S&P Global Market Intelligence which predicted $2.54. In the same quarter in 2017, Amazon [...]
Tour de France 2018: Team Sky’s image presents problem for Geraint Thomas as finishes nears | City A.M. July 26, 2018 Team Sky are nearing their sixth Tour de France win in the last seven years and their fourth successive Grand Tour title. With three stages left of cycling’s biggest and most prestigious race, Geraint Thomas sits one minute and 59 seconds ahead of his nearest rival, Tom Dumoulin. Tomorrow’s stage is the final one in [...]
Sky post a solid set of figures July 26, 2018 Sky revealed a solid set of full-year results as earnings jumped by 9 per cent and like-for-like (LFL) revenue rose by 5 per cent. Average revenue per user held steady at £45. The company had a strong finish to the year as it added 20,000 new customers in the UK and Ireland. In the final three [...]
Sorrell ramps up tensions with WPP after resignation of Chinese director July 25, 2018 Former WPP boss Sir Martin Sorrell has ramped up tensions between him and his former employer by commenting on the exit of one of its Chinese board members. Hugo Shong stepped down from the board earlier this year, saying that "additional commitments outside WPP and increased pressure on his time and availability" had led him [...]
Amazon’s (AMZN) cloud and online retail services to push results sky-high, while Spotify (SPOT) wanes on revenue | City A.M. July 22, 2018 After showcasing impressive sales and subscription numbers on Prime Day and briefly breaking $900bn (£691bn) in market value last week, Amazon has investors convinced of a strong second quarter ahead of its results on Thursday 26 July. Consumer estimates collated by S&P Global Market Intelligence put the company’s revenue at $53.4bn for the quarter, at [...]
Cos homeware collaboration with Hay: We speak to creative director Karin Gustafsson | City A.M. July 20, 2018 What makes a creative collaboration work? From 1960s jazz (Ellington x Coltrane) to pop (Beyonce x Sheeran) to fashion (Skepta x Nike Air Max), partnerships not only keep artists fresh, but allow us to appreciate both in a new context. Although it’s now the turn of homeware collaborations (witness D&G x Smeg; Fendi x Campana; [...]
Safari From Above: We take to the skies over Botswana for a whole new perspective on African safari July 20, 2018 Viewed from above, an elephant is a curious sight. Longer and considerably heavier than the light aircraft I was flying in, each member of the herd was unperturbed by the fact that our descent onto the dirt airstrip was only a few tens of metres above their heads. In fact, the only one who was [...]
Last Week in the City: August rate rise now less likely July 20, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (16 to 20 July 2018). The chances of an interest rate rise at the Bank of England’s August meeting appeared to recede this week after inflation data was more subdued than expected and retail sales data [...]
Microsoft soars past $100bn revenue mark, boosted by the power of the Cloud | City A.M. July 19, 2018 Software and PC giant Microsoft had its best year ever in 2018, beating analyst estimates to score $110.4bn (£85.1bn) in revenue at a year-on-year increase of 14 per cent. It reported $30.1bn in revenue for its fourth quarter, beating already high consumer estimates of $29.17bn. Diluted earnings per share came in at $1.15 for the [...]