US tech stocks Twitter, Facebook, Etsy, Groupon and Salesforce share prices fall, dragging Nasdaq to its lowest in 18 months February 8, 2016 Global market turmoil has hit tech stocks, with investor favourites Facebook, Twitter and Salesforce combining to drag the Nasdaq index to its lowest level since July 2014. In early afternoon trading in New York, Facebook was 5.5 per cent lower, at $98.33, while Salesforce was 8.5 per cent lower, at $53.53. That dragged the Nasdaq down 2.9 [...]
Yelp shares suspended in the US as results released early and the CFO quits February 8, 2016 Shares of review site Yelp have been suspended in the US following the firms fourth quarter earnings being leaked. The company told CNBC the results were released due to an error by PR Newswire. They were expected after the market close. Yelp reported a net loss of $22.2m in the fourth quarter, down from a profit of $32.7m in [...]
Twitter share price falls to fresh all-time low dropping under $15 for first time after algorithm change outrage February 8, 2016 Twitter is facing fresh misery as US markets opened, with its share price diving to fresh lows… again. Shares slipped more than four per cent lower to $14.87, stock under $15 for the first time ever, after speculation that the social network will make a major change to the way it works. Under pressure chief [...]
Axa to pay €75m for an eight per cent stake in Africa Internet Group (AIG) and plans to distribute insurance through Jumia online stores February 8, 2016 French insurance giant Axa agreed to pay €75m (£57.9m) today for an eight per cent stake in ecommerce company Africa Internet Group (AIG). As part of the deal, Axa will gain the right to exclusively provide insurance products through Jumia, an online shopping platform and AIG's main subsidiary. "Internet is creating unparalleled opportunities for consumers and businesses in Africa to [...]
Anglo American chief executive Mark Cutifani warns miners bracing for most challenging year yet February 8, 2016 Anglo American's chief executive, Mark Cutifani, has warned miners to brace for the most challenging year yet, as he forecast no immediate end to the commodity price rout which has hammered their balance sheets over the last 18 months. Speaking at a mining conference in Cape Town, Cutifani said some producers' refusal to cut production despite weak [...]
Marks and Spencer is narrowing the gap with high street rival Next, says Moody’s February 8, 2016 Marks & Spencer is closing in on its high street rival Next after boosting the profitability in its troubled clothing business by bringing more of its design in house and sourcing directly from suppliers, according to analysts at credit ratings agency Moody’s. In a note published the morning, Moody’s said Next’s credit profile is stronger [...]
Old Mutual share price down as financial services giant agrees sale of Rogge Global Partners to Allianz Global Investors February 8, 2016 Shares in Old Mutual fell this morning, after the company agreed to sell a London-based fixed income asset management unit to Allianz Global Investors. In a short statement issued this morning, the financial services company said that it expected its sale of Rogge Global Partners, which had £24.1bn of funds under management as at the end of December 2015, to complete [...]
The Force is strong with Hasbro as Star Wars sales push revenue into hyperspace February 8, 2016 US toy maker Hasbro has reported revenue is up $170m in the fourth quarter, largely down to sales of Star Wars toys following the success of the latest film in the franchise. Revenue rose to $1.47bn from $1.30bn from a year before, beating expectations of $1.37bn. Growth in the company’s Nerf brand, as well as [...]
Plans for revamp of Camden Lock Market and historic underground waterway given the go-ahead February 8, 2016 The owners of London's Camden Lock Market have won planning permission to push ahead with a £20m overhaul the iconic site that includes opening up a Grade II-listed underground waterway to the public for the first time. Market Tech Holdings, which owns around 15 acres of land in and around Camden, said Camden Council unanimously backed the [...]
Total’s flagship gas project at Laggan-Tormore in the West of Shetland starts production February 8, 2016 French energy giant Total announced gas from its flagship Laggan-Tormore project, off the Shetland Islands in the North Sea, started flowing to the mainland today. Laggan-Tormore, which is the first new large gas field in Britain since 2013, will eventually supply 2m households, meeting about eight per cent of the UK’s energy needs. "Laggan-Tormore is a [...]
