Facebook has slashed six degrees of separation to just 3.57 putting us much closer to Kevin Bacon February 4, 2016 Remember six degrees of separation? The theory that you, Kevin Bacon and every other human on Earth are just six connections away? Well, forget it, Facebook has changed all that The firm has analysed its over 1.5bn active users and discovered that in the age of social media, the real degree of separation between us [...]
GoPro share price loses 9.34 per cent after revealing plummeting sales February 3, 2016 Camera manufacturer GoPro has posted a 31.1 per cent decline in sales for the final quarter of 2015, down to $436.6m (£299.3m) from $633.9m, missing analysts' expectations of $496.1m. Shares in the company dropped by over nine per cent in after hours trading, and at the close yesterday were down by more than 80 per cent over [...]
Canary Wharf to outstrip other London office districts in 2016 with strongest rental growth February 3, 2016 Canary Wharf’s gleaming office towers have lagged slightly behind rival districts last year, posting an eight per cent rise in rental growth against 12 per cent in the City and an astonishing 24 per cent leap in Shoreditch – thanks to the cool kids moving in. However, with rents becoming increasingly unaffordable for small to [...]
Arthur J Gallagher reports jump in revenue driven by brokerage and risk management performances February 2, 2016 US insurance broker Arthur J Gallagher has posted 10 per cent growth in revenue for the final quarter of 2015, up to $1.03bn (£715bn) from $938.4m in the same period of 2014. For the full year, revenue was up 17 per cent, from $3.5bn to $4.1bn. The Illinois-based company, which has its UK headquarters in [...]
Exxon Mobil profits fall by over 50 per cent as the company continues to adjust to the new oil price normal February 2, 2016 Exxon Mobil, the erstwhile largest company in the world by market capitalisation, has posted a 58 per cent drop in quarterly profit as the languishing oil price continues to eat into the performance of the company. Exxon, which still holds the mantle of the world's largest publicly traded oil company, reported its fourth-quarter profit slipped [...]
BP’s share price falls to six-year low as energy giant reveals worse-than-expected $2.2bn fourth quarter loss on back of falling oil prices February 2, 2016 BP's share price has fallen to its lowest level in nearly six years after posting worse-than-expected results this morning. Shares in the oil giant, whose replacement cost losses increased by 130 per cent, were down 9.5 per cent in mid-afternoon trading to 330 per share – the lowest in nearly six years, though still well [...]
BP chief executive Bob Dudley appoints Lamar McKay as deputy in pre-results shake-up February 1, 2016 BP has appointed Lamar McKay to the new post of deputy group chief executive in a shake-up of the oil giant’s top team. McKay, a 34-year BP veteran, will be responsible for strategy and long-term planning, safety and operational risk, technology, and corporate governance. He will also take on some of chief executive Bob Dudley’s duties. Currently [...]
Credit Suisse results: Swiss banking expected to post a loss as it gets ready for billions of pounds in goodwill write-down January 31, 2016 Swiss banking giant Credit Suisse is expected to reveal a loss later this week as it gets ready to write down billions of pounds worth of assets. The bank’s chief financial officer David Mathers said last year that he expected a 6.3bn Swiss franc (£4.3bn) impairment charge in the fourth quarter in relation to the company’s [...]
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 [...]