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 [...]
Eurozone unemployment falls to lowest rate since 2011 February 2, 2016 Unemployment in the Eurozone dropped to 10.4 per cent in December, according to figures released this morning. While it is a high rate globally, and far higher than the UK's 5.1 per cent, it marks the lowest rate of unemployment in the currency-bloc since 2011. It is also down from 11.4 per cent on year [...]
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 [...]
US West Texas Intermediate crude oil price just went below $30 per barrel again as talks of a deal dwindle February 2, 2016 The US oil benchmark, West Texas Intermediate (WTI), has fallen under $30 per barrel for the first time in over a week as rumours of a production cut deal between Opec and non-Opec members diminished. Brent crude was trading around $32.61 when WTI dipped under the psychological $30 barrier. WTI, also known as Texas light sweet, came into price parity [...]
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 [...]
Parliament to debate gender pricing and why there seems to be a premium on being female, as goods marketed towards women cost more February 2, 2016 MPs are set to debate an apparent tax on colouring things pink this evening, after research unveiled that the price tag on items marketed towards the fairer sex is routinely hiked up. The debate on gender pricing, which is set to take place in Westminster Hall at 4:30pm today, was raised by Paula Sherriff, the Labour MP for Dewsbury. [...]
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 [...]
Mattioli Woods share price edges down despite profit at the Aim-listed wealth management company inching up for its six months ended November 2015 February 2, 2016 Mattioli Woods has today revealed profit before tax of £2.8m for its six months ended November 2015, up 5.2 per cent from £2.7m for the same period the year before. Revenue for the wealth management and employee benefits company also rose to £19.9m, up 20 per cent from £16.6m the year before. Despite the uptick in [...]
