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 [...]
US markets follow Europe downwards as fears mount over global growth February 8, 2016 The US markets have opened lower today, following massive sell offs in Europe that’s seen the German Dax fall over three per cent to under 9,000, and the Greek stock market hit 25 year lows, down 6.7 per cent today, adding to its fifth consecutive day of losses. The Dow Jones Industrial average opened down [...]
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 [...]
Valentine’s Day 2016: Forget about Black Friday and Cyber Monday – today’s the day for peak online hunting for the perfect Valentine’s Day gift February 8, 2016 If your colleagues' computer screens have taken on a pink and red hue, don't fire off a concerned email to IT. They're probably just on the hunt for a gift for their significant other as Valentine's Day looms. According to an analysis of Google Trends data released today by the Post Office, the Monday before Valentine's Day [...]
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 [...]
The National Bank of Greece, Piraeus Bank and Alphabank share price: Banks send Greek stocks to lowest level since 1990 February 8, 2016 Heavy losses among Greek bank shares, sparked by fresh political uncertainty over the country's €86bn (£66.4bn) bailout, sent its stocks to their lowest level since 1990 today. Traders and analysts attributed the turbulence to uncertainty that a bailout review by the country's lenders could drag on. Greece's "troika" of creditors – the European Commission, the European Central [...]
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 [...]
