Oil production freeze: Saudi will not cut output as US stockpiles soar February 18, 2016 The oil price has has fallen off a cliff on a double whammy of bad news: De facto Opec leader Saudi Arabia has said it will not cut production according to reports, while the US Energy Information Administration has announced inventories of crude swelled in the week to 12 February. The price per barrel of US [...]
Tesco will stop selling curvey croissants in favour of straight ones because Brits have trouble spreading them with jam and butter February 18, 2016 Prepare to say au revoir to curvy croissants. The delicious pastry will no longer be sold at Tesco in its traditional form because apparently us Brits find it just too much of a faff. Such a hassle is the croissant curve that demand for them has fallen as we settle for the straight version instead, and [...]
Lloyds Banking Group’s private equity arm buy stake in same-day delivery firm CitySprint February 18, 2016 A private equity firm owned by Lloyds Banking Group has bought a stake in same-day delivery firm CitySprint in a deal valuing the business at £175m. LDC said the secondary management buyout will see CitySprint's current private equity owner Dunedin retain a stake in the courier while the management team led by chief executive Patrick Gallagher, retains [...]
UK house prices: If only the buy to let surcharge was an April Fool’s Joke – instead, it’s an attack on entrepreneurial Britain February 18, 2016 George Osborne sensed he was onto a winner when he moved to raise stamp duty on buy-to-let homes by three per cent. The UK property market has long been a hot topic. Powers-that-be rarely let opportunity pass, and the chancellor’s move is one to allow the government to have a bigger slice of the pie. [...]
Asda owner Wal-Mart Stores share price falls as constant currency revenue inches up for fourth quarter and fiscal year 2016, after firm closes more than 250 stores worldwide February 18, 2016 Share price in Wal-Mart Stores fell today after the US retail giant revealed constant currency revenues had inched up only slightly for both its fourth quarter and its fiscal year 2016. Total revenue for the year ended January 2016 was $499.4bn (£347.7bn) on a constant currency basis, up 2.8 per cent on the year before, while [...]
Twitter chairman Omid Kordestani just bought $2m worth of shares increasing his stake by 30pc and with finance chief Anthony Noto is first Twitter exec to buy this year February 18, 2016 Twitter has received a much needed vote of confidence from its chairman Omid Kordestani who yesterday picked up almost $2m worth of shares increasing his stake by 30 per cent, it's been revealed. Filings with the SEC show he purchased more than 122,000 shares at $16.34 per share. It takes the total value of his investment in the company to just over [...]
What big tobacco needs to know about the UK’s e-cigarette smokers February 18, 2016 We all know that as the number of smokers falls, big tobacco is scrambling to get into the e-cigarette market. But figures from the Office for National Statistics, published this morning, showed while vapers are a growing community, their loyalty is questionable… Here's what big tobacco needs to know. 1. Traditional smoking is A Thing [...]
SodaStream International share price fizzes up as profit rises for fourth quarter but revenue falls, thanks to unfavourable foreign exchange movements February 18, 2016 Share price in SodaStream International rose today after the company revealed a fall in revenue but a rise in profits for its fourth-quarter results. The Israel-based company reported revenue for the quarter ended December 2015 of $112.9m (£78.6m), down 10.7 per cent compared with $126.5m for the same period in 2014, with the company blaming unfavourable foreign exchange movements as [...]
Lancashire Holdings share price drops as company reveals a fall in profits and chairman of nine years Martin Thomas announces departure February 18, 2016 Share price in Lancashire Holdings dropped as the chairman announced his departure and the company revealed a fall in profits today. The insurer reported profit before tax for the year ended December 2015 of $171.7m (£119.4m), down from $226.5m for the year ended December 2014, while gross premiums written dropped to $641.1m, compared with $907.6m [...]
FTSE 100 index drops below 6,000 mark as share prices in Anglo American, Shell and pharmaceuticals fall February 18, 2016 The FTSE 100 index traded lower in afternoon trading as investors continue to look to Brussels, where Prime Minister David Cameron hopes to make a deal with the rest of the European Council on his draft reforms. The UK's blue chip index traded 0.84 per cent down at 5,979 points. "Worried British investors have half an eye [...]
