EDF Hinkley Point C project director Christopher Bakken has left for US-based Entergy Corporation February 2, 2016 The executive who had been in charge of French energy giant EDF’s £18bn construction of Hinkley Point C has left the company for another role in the US. Christopher Bakken had been EDF’s project director for Hinkley, leading on its design, licensing, procurement, construction and commissioning. He’s left to become executive vice president and chief nuclear [...]
Royal Caribbean share price sinks as cruise company misses revenue estimates and forecasts dip in profit February 2, 2016 Shares in Royal Caribbean Cruises have tumbled by as much as 16.3 per cent today, after the firm missed expectations in its results for the final three months of 2015 – and warned that profits for the current quarter are likely to come in well below analysts' expectations. Revenue rose 4.4 per cent to $1.9bn [...]
FTSE 100 quarterly reshuffles: Anglo American share price falls as it risks being booted out of blue-chip index in March February 2, 2016 Stricken mining firm Anglo American risks being booted out of Britain's blue-chip index at its quarterly review next month. The South African miner's self-described "drastic" turnaround plan unveiled in December has so far failed to reassure the market. It included scrapping its dividend, gutting assets by 50 per cent and shrinking its employee count by 60 per cent. [...]
How Argos will help Sainsbury’s rival Amazon after Home Retail Group deal February 2, 2016 Sainsbury’s purchase of Home Retail Group has been everywhere, but only half the story is being told. Arguably the most important half of the picture is what’s being missed. The real impact will not be solely in-store, but the online, logistical and fulfilment capabilities it unlocks for Sainsbury’s. It could well be what drags the [...]
Findel dashes Mike Ashley’s hopes after selling Kitbag to American buyer February 2, 2016 Findel has offloaded its replica football shirt business Kitbag to an American firm for £11.6m, putting an end to Mike Ashley’s hopes of buying the subsidiary. The home shopping retailer said it has completed the sale to Fanatics, a US sportswear firm, more than a year after putting the sports strip retailer on the market. [...]
Twitter’s share price is falling again after Stifel downgrades with $14 price target February 2, 2016 Twitter's shares are plummeting again after being downgraded by one Wall Street analyst to sell from hold. The downgrade by Stifel sent shares down more than seven per cent and back under $17 per share and follows a sharp rise in Monday trading after takeover talk surfaced. Stock closed up more than six per cent yesterday on [...]
FTSE 100 closes back below 6,000 points on BP fourth quarter results and falling oil prices February 2, 2016 Britain's blue-chip index tumbled back below the 6,000 mark today, as BP reported its biggest loss in at least 20 years and oil prices continued to fall The FTSE 100 closed down 2.28 per cent to 5,922.01 points this afternoon, after touching a low of 5,892.87 points earlier in the day. Shares in BP fell 7.15 per cent [...]
Virtual reality startup Magic Leap raised $793.5m without even having a product February 2, 2016 Augmented reality startup Magic Leap has just raised a record-breaking $793.5m in Series C funding – before even releasing a product. Chinese e-commerce giant Alibaba led the round, which leaves the virtual reality firm with a $4.5bn valuation, according to a spokesperson. Alibaba’s executive vice chairman Joe Tsai joins Google chief Sundar Pichai on the [...]
Consumer group MoneySavingExpert hits out at energy firms despite latest price cuts by Scottish Power February 2, 2016 A consumer group has heaped pressure on Britain's biggest energy companies to slash customers' bills further, after Scottish Power became the latest provider to cut prices today. "The real picture here is that even after these small cuts come into effect the vast majority of households in the UK will be massively overpaying for their [...]
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 [...]
