Amazon share price dives as retailer unveils 22 per cent revenue growth and profit misses the mark January 28, 2016 Amazon shares tumbled more than 12 per cent in after hours trading as the company missed profit expectations, despite reporting income had more than doubled year-on-year in the final quarter of 2015 to $482m (£336m) from $214m, or $1.00 per share from $0.45. However, this was significantly wide of analysts' expectations of $1.56 per share. The firm also [...]
Facebook share price jumps as social network reveals revenue growth of 51.7 per cent as mobile ad revenue rockets January 27, 2016 Facebook's stock has risen by almost nine per cent in after hours trading, after the social network unveiled revenue of $5.8bn (£4.1bn) for the three months to the end of December – and $17.9bn for 2015. This marks a quarterly jump of 51.7 per cent from $3.85bn in the final quarter of 2014, and a significant increase [...]
Overseas investor interest in London commercial property slows as prices come under pressure January 26, 2016 Investor interest in the UK’s commercial property market recorded its slowest rate of growth in more than two years, according to a survey of the country’s leading surveyors, as demand from foreign buyers waned. In its latest quarterly commercial market report, the Royal Institute of Chartered Surveyors (RICS) found that buyer enquiries continued to rise in [...]
Tesco share price falls as Serious Fraud Office’s investigation is set to conclude January 25, 2016 A criminal investigation into Tesco, the UK's biggest retailer, by the Serious Fraud Office (SFO) is set to come to a conclusion after more than a year, according to Cantor Fitzgerald analysts. The investigation, launched in October 2014 after a multi-million pound profit black hole was uncovered at the supermarket, had been due to be resolved by the end of last year. [...]
JP Morgan’s Pencils Down initiative is proof the City’s financial institutions can adapt to millennials’ needs January 22, 2016 Millennials, Generation Y, the yoof – call them what you like, but HR departments the land over are going to increasingly desperate lengths to attract the people currently taking their first steps into working life. Kids these days are demanding, high-minded and tech savvy, oft-cited research tells us. They expect oodles of spare time, with [...]
Starbucks reports record revenue in its first quarter results but share price tumbles January 21, 2016 Starbucks share price plummeted 4.55 per cent to $56.28 after markets closed when it revealed its first quarter trading figures for 2016. The figures Net revenue was a record $5.37bn (£3.78bn), up 12 per cent from 2015. Net profits fell however, to $687.6m, from $983m the year before. Profits before tax fell 19.2 per cent [...]
Pearson share price jumps as it unveils plans to cut 4,000 jobs and reduce headcount by 10 per cent. January 21, 2016 Another day, another massive set of job cuts. Publisher Pearson, which last year sold off its stakes in the Financial Times and The Economist, has announced plans to cut 10 per cent of its workforce – about 4,000 jobs – in an effort to "simplify" its business. In interim results today, the company said it [...]
Restricting skilled worker visas will hit the economy and harm UK-Commonwealth relations January 21, 2016 The government risks further alienating skilled Commonwealth nationals who work in the UK with proposed changes to the Tier 2 skilled worker visa regime, which, if put into practice, will undermine Britain’s future economic prosperity. Currently, it is policy to reduce net migration to the tens of thousands; however, under EU law, the UK is [...]
Victim of brutal stabbing outside Morden Tube station named as police investigation continues January 20, 2016 The victim of a brutal stabbing that took place outside Morden Tube station yesterday during rush hour has been named as Daniel Young. Young was stabbed as he made his way to work at around 8am, and police are urging commuters who may have seen something to get in touch. Detectives from the homicide and major crime [...]
City Moves for 19 January 2016 | Who’s switching jobs January 19, 2016 Bryan Cave International law firm Bryan Cave has announced two new appointments to its London office. Corporate partner Sarah Atkinson joins the transactions client service group from Hogan Lovells. Associate Yannis Erifillidis joins the financial services client service group from Norton Rose Fulbright. Sarah’s experience concentrates on cross-border M&A, private equity and general corporate advisory work. [...]