Fast-food company Shake Shack reports revenue and profit growth in fourth quarter March 7, 2016 Shake Shack today reported total revenue of $51.1m (£35.8m) for the fourth quarter of 2015, up 46.8 per cent year on year. The figures The fast food chain also reported a sales increase of 49.2 per cent to $49.3m. And the company reported its operating profit up 88.1 per cent to $13.9m. Read more: Shake [...]
Urban Outfitters share price rockets as clothing company reports $1bn in sales in fourth quarter March 7, 2016 Urban Outfitters shares have jumped by almost six per cent in after hours trading, after the retail group announced fourth quarter earnings that beat expectations. Net income dropped to $73m (£51m) in the fourth quarter of the 2016 fiscal year, from $80m one year earlier, equivalent to 61 cents per share. Wall Street was expecting the [...]
Private jet mobile revolution drives sales: Meet Clive Jackson, the man behind Victor, the Uber of the skies March 7, 2016 Mobile apps have become the latest driver of growth for private jet hire, opening up a whole new market of corporate and private customers. Just as Uber has changed the way taxis operate, mobile app booking is absorbing market share from private jet brokers who have traditionally matched customers to companies. Founded in London in 2011, [...]
Social mobility in the City: Almost one in ten Deloitte staff members received free school meals, as Big Four firm reveals the socio-economic and educational background of its staff March 7, 2016 Big Four accountancy firm Deloitte has today published the socio-economic and educational background information for its staff in a bid to improve social mobility. Findings from the data include that almost one in ten (nine per cent) staff members received free meals while at school and more than half (51 per cent) were the first in [...]
Shares in Old Mutual soar on speculation over potential break-up March 7, 2016 Shares in Old Mutual soared today on news that the company is “considering all options” after speculation that the group would be broken up into four businesses. The savings and investment firm’s stock closed up 6.9 per cent at 192.1p. Old Mutual said last week that it was pursuing a strategic review, as announced when [...]
Metro Bank shares jump on soft float, despite earlier fears over market volatility forced the bank to downgrade its share price March 7, 2016 Metro Bank shares have jumped by 7.5 per cent since their so-called introduction to the London Stock Exchange this morning. The bank had lowered its share price to £20 from £24 previously due to market volatility and a sell off of banking stocks since the beginning of the year. Prices have now mostly recovered however. [...]
Competition and Markets Authority (CMA) delays publication of retail banking review until August March 7, 2016 The Competition and Markets Authority (CMA) has confirmed plans to delay the publication of its long-awaited review into the retail banking market, saying today that the results of the probe will not be published until the end of the summer. In a statement this morning, the CMA put forward more recommendations to help customers understand [...]
Godiva is galloping into growth markets: Chief executive Mohamed Elsarky talks managing growth and high quality March 7, 2016 As Godiva celebrates its 90th anniversary, few would contest the heritage of the Belgian chocolatier. But since Turkish food manufacturer Yildiz Holding acquired the firm from Campbell Soup in 2007, it has been given a new lease of life. Now, chief executive Mohamed Elsarky has his sights on Asia. Since entering the Chinese market in late 2009, nearly 70 stores [...]
Barclays appoints CMC Capital’s Carlo Calabria as chairman of mergers and acquisitions in Europe, the Middle East and Africa March 7, 2016 Barclays has appointed founding partner of CMC Capital Carlo Calabria as chairman for mergers and acquisitions in Europe, the Middle East and Africa (EMEA). Calabria is one of nine new people employed to Barclays' investment banking operations from CMC Capital. "Carlo will work closely with Pier Luigi Colizzi, Head of M&A EMEA, to help accelerate the [...]
FTSE 100 index drops despite Old Mutual’s share price rising and miners making gains March 7, 2016 The FTSE 100 index traded lower this morning, after having opened with volatility following gains last week. The UK's blue-chip index fell 0.63 per cent to 6,160 points in early morning trading. "Investors appear to be slowly starting to drip feed money back in after a turbulent start to the year. As equity markets enjoyed their third [...]
