AstraZeneca share price dips despite rise in profits and unchanged outlook April 24, 2015 AstraZeneca had a successful start to the year, but competition means growth will be slow. The figures The Anglo-Swedish drug maker's operating profit went up by 15 per cent to $933m (£620m) during the first three months of the financial year, with revenue also rising by one per cent to $6bn. This is a [...]
Deutsche Bank wields axe after £1.7bn fine: Staff fired over Libor fixing scandal but top bosses stay April 23, 2015 Deutsche Bank was ordered to fire another seven staff yesterday for manipulating Libor submissions between 2005 and 2010 – but no top bosses have resigned over the scandal. The $2.5bn (£1.7bn) fine is far bigger than any previously levied on other banks, in part because Deutsche’s staff misled regulators and tried to cover up [...]
Barclays’ bosses warn investors of pain ahead as Libor scandal fines and legal bills roll in April 23, 2015 Huge fines and legal bills are on the way, Barclays’ outgoing chairman Sir David Walker warned shareholders at yesterday’s annual general meeting. Walker joined the bank almost three years ago in the wake of the Libor scandal, aiming to clean it up. While he said he has made great strides in that direction, the City [...]
Qataris clinch Claridges from Barclay brothers April 23, 2015 The Barclay brothers have sold off their stake in three of London’s five-star hotels, including Claridges. Sir Frederick and Sir David Barclay are reported to have sold their 64 per cent interest to Qatar’s Constellation Hotels, a business controlled by the country’s sovereign wealth fund. The sale was made for an undisclosed sum.
Pace chairman Allan Leighton to exit after Arris takeover April 23, 2015 Pace chairman Allan Leighton is set to leave the UK group once its £1.4bn takeover by a US rival is finalised, as shares in the set-top box maker closed 34 per cent higher yesterday. Leighton, chair of Pace since 2011, oversaw the cash-and-share offer by Georgia-based group Arris Group but will not seek a [...]
Sainsbury’s to shed 800 store jobs in bid to save £500m in supermarket price war April 23, 2015 Sainsbury’s is set to axe 800 jobs in stores as part of a shake-up aimed at saving £500m over the next three years to better position itself in the ongoing supermarket price war. The supermarket chain said yesterday that it plans to remove department and deputy managers from certain stores in order to invest [...]
Profits surge at Kent winemaker Chapel Down after large harvests April 23, 2015 Profits at winemakers Chapel Down soared 175 per cent in the year ending December as large harvests poured through to the bottom line. Revenues in the company expanded 21 per cent during the period on the year before, reaching a record £6.1m and leading to pre-tax profits of £187,000. The Kent-based company also saw sales [...]
Loyalty membership Costa lot as coffee card scheme data hacked April 23, 2015 Costa Coffee suspended millions of Coffee Club Card online accounts yesterday after hundreds of its loyalty scheme members suffered a security breach. The Whitbread-owned coffee shop said that it had identified a small number of members who had “some unusual activity” on their accounts after carrying out security checks. A spokesperson told City PM the [...]
Anglo American share price rises despite missing analysts’ targets in first quarter April 23, 2015 Shares in mining group Anglo American were up by 4.73 per cent yesterday, despite the company’s failure to meet analysts’ expectations in its production update for the three months to 31 March. Copper production fell by 17 per cent in the first quarter of 2015, down to 171,800 tonnes from 202,000 tonnes in the same [...]
Starbucks share price jumps as sales beat expectations April 23, 2015 The figures Starbucks announced profit of $495m in its fiscal second quarter, a 16 per cent rise bringing earnings per share up to $0.33 compared to $0.28 per share a year earlier. The results triggered a share price of 4.4 per cent in after-hours trading in the US as the company's revenue and profit report [...]
