SThree share price falls although recruiter reveals strong profit and revenue growth in 2015 despite a slump in its energy division January 25, 2016 SThree today reported profits before tax of £37.7m for the year to the end of November, up 29 per cent from £29.3m the year before. Revenue growth for the recruiter, which specialises in placing professionals in industries such as IT, finance and life sciences, was also strong, with revenue for the year rising to £848.8m, up 14 per cent from [...]
Tesco share price falls as Serious Fraud Office’s investigation is set to conclude January 25, 2016 A criminal investigation into Tesco, the UK's biggest retailer, by the Serious Fraud Office (SFO) is set to come to a conclusion after more than a year, according to Cantor Fitzgerald analysts. The investigation, launched in October 2014 after a multi-million pound profit black hole was uncovered at the supermarket, had been due to be resolved by the end of last year. [...]
FTSE 100 index falls as the price of oil slides again January 25, 2016 The FTSE 100 index fell on Monday as the price of oil slid once again. The UK's blue-chip index closed 0.39 per cent down at 5,877 points, led lower by banks, BT and Kingfisher “The FTSE started up about 17 points at 5917, but as soon as oil came off its better levels of $32.60 down to [...]
Plans for five-storey office block above Farringdon Crossrail station win approval January 25, 2016 Plans to build a major new office building above Farringdon Crossrail station have been given the go-ahead by City planners today, with construction expected to start next year. Designed by PLP Architecture – the architects behind Lipton Rogers and Axa Real Estate's 22 Bishopsgate skyscraper – the five-storey building will sit above the station's eastern ticket hall on [...]
NYSE-listed Johnson Controls buys Ireland’s Tyco International in £22bn tax inversion deal January 25, 2016 JOHNSON Controls today agreed to acquire Tyco International, creating a merged entity with revenues of more than $32bn (£22.4bn) that will be based in the low-tax haven Ireland. New York Stock Exchange-listed Johnson Controls is an American company that makes heating systems, car batteries and energy-efficiency measures for buildings, while Tyco produces fire protection and [...]
Deutsche Bank could cut bonuses by as much as 30 per cent January 25, 2016 Deutsche Bank is expected to cut staff bonuses for the outgoing financial year, as the lender is braced to post a record loss with write-downs, litigation charges, restructuring costs and a tough trading environment all conspiring to hurt its bottom line. Reuters is reporting that the bank's employees have already been told their bonuses will [...]
How Philip Morris International is trying to make smoking less risky for its customers January 25, 2016 Philip Morris International, the tobacco giant behind Marlboro, is smoking out new ways to make money in a rapidly changing marketplace. The firm has poured $2bn (£1.4bn) into research and development since 2008 and its latest wheeze is developing safer cigarettes that still taste like the real thing. This isn’t for purely altruistic reasons. Smokers [...]
McDonald’s fills up on all day breakfast as fourth quarter sales rise January 25, 2016 McDonald’s has served up a five per cent jump in global like-for-like sales in the fourth quarter as efforts to turnaround its ailing US business showed signs of paying off. The fast food giant, which promoted former UK boss Steve Easterbrook to the top spot a year ago, said US fourth quarter comparable sales increased by 5.7 per cent, thanks in [...]
High street retailers steal share of physical entertainment market from Amazon January 25, 2016 Sales of physical DVDs, CDs and video games may be dropping but bricks and mortar stores are still holding their own after taking market share from the likes of Amazon in the quarter. According to Kantar Worldpanel figures, high street retailers took 68 per cent of spend on physical entertainment in the 12 weeks to 20 [...]
Electra Private Equity forced to shake up its strategy now activist investor Edward Bramson is on the board January 25, 2016 The board of Electra Private Equity has announced it is reviewing its investment strategy just a few months after activist investor Edward Bramson joined the board. Bramson was finally voted on to the Electra board in November with 53.5 per cent of shareholders voting in favour, along with Ian Brindle, former PwC boss and a [...]
