Microsoft trump expectations thanks to sky-high cloud revenue April 23, 2015 The figures Microsoft's profit and revenue came in above analysts' expectations for the third quarter of 2015, causing the company's stock to rise in after-hours trading. The software and technology giant posted earnings of $0.61 per share – trumping the forecast $0.51 per share – but also significantly falling from the $0.68 per share posted [...]
Historic Tesco loss sparks share price slump: Dave Lewis has to move from “drastic” to “dynamic” April 22, 2015 2007: TESCO’S PEAK MARKET SHARE 31.7% MARKET SHARE MARCH 2015 28.4% Shares in Tesco slumped by five per cent yesterday after the retail giant capped a year of profit warnings, accounting scandals and fraud investigations by posting one of the biggest losses in corporate history. Britain’s biggest supermarket made a statutory pre-tax loss of £6.4bn [...]
Cambridge Satchel sales buckle April 21, 2015 THE CAMBRIDGE Satchel Company posted a drop in sales and profit last year after investing in a new flagship store and revamping its website. The leather satchel-maker said turnarover fell 21.7 per cent to £10.1m in the year to 30 June 2014, blaming tough comparatives on the previous year when it starred in a Google [...]
Why zero inflation means there are no more free lunches for politicians April 21, 2015 The temptation to believe in the concept of a free lunch has proved irresistible to numerous governments through the ages. Henry VIII, for example, has seized the popular imagination once again through Damian Lewis’s brilliant portrayal of him in Wolf Hall. Bluff King Hal is the nickname often associated with the King. But to his [...]
Yahoo earnings plummet as investors wait for Alibaba share sale April 21, 2015 The figures Yahoo fell short of Wall Street’s earnings expectations in the first quarter of 2015, posting earnings per share of $0.15 below the predicted $0.18. Shares in the technology company immediately dropped two per cent in after-hours trading as investors swallowed a 93.3 per cent fall in net earnings from $312m (£208.9m) to $21m. [...]
Four fire engines called to central London blaze in Great Portland Street April 17, 2015 Four fire engines were called to the scene of a fire in Great Portland Street at lunchtime, after black smoke appeared to spew from the top of a building currently being refurbished. At 12.30pm, the London Fire Brigade tweeted that it had received 35 999 calls regarding the fire, which it said had been caused [...]
WH Smith posts profit boost despite a slide in sales on the high street April 16, 2015 Stationery chain WH Smith reported a four per cent rise in half-year profits even as sales fell on the high street, after winning new contracts to open travel outlets overseas. The retailer, which has 740 travel outlets and 621 high street stores, reported pre-tax profits of £72m in the six months to the end of [...]
Burberry offsets Hong Kong woe with US growth April 15, 2015 BURBERRY yesterday posted a jump in underlying sales in the second half thanks to double-digit growth in Europe and the US, helping to offset a further slowdown in Hong Kong. The wealthy Asian financial centre is a profitable, high margin market for Burberry and accounts for around 10 per cent of sales, with tourists making [...]
General Election jitters for finance chiefs as sterling weakens against the dollar April 13, 2015 The extent of business nervousness surrounding the General Election was laid bare today by a survey of finance chiefs of some of the UK’s largest companies after sterling yesterday stooped to a five-year low against the dollar. Chief financial officers are much less inclined to take risks – 51 per cent said now was a [...]
City Moves for 14 April 2015 | Who’s switching jobs April 13, 2015 SunLife The financial services firm has appointed Emma Walker to lead its aggregator, digital, and customer experience teams. She joins from MoneySupermarket.com, where she was head of protection and non core insurance. LCH.Clearnet Steve Briscoe has been appointed group head of technology and operations at the clearing house. He joins from RBS, where he was [...]