Sports Illustrated publisher Time Inc net loss plunges to $913m November 5, 2015 Media company Time Inc, which publishes Sports Illustrated, InStyle and Time magazine, earlier today reported a net loss of $913m (£600m) for its third quarter of 2015, swinging from a net profit of $48m for the same period last year. Goodwill impairment of $952m, caused in part by falls in Time Inc’s share price, was [...]
High street retailer confidence rises ahead of Christmas November 5, 2015 High street retailers are feeling more confident about Christmas this year, with the majority predicting a rise in revenues according to research from Barclays, despite warnings from retailers including SuperGroup and Marks & Spencer of challenges ahead. Barclays said 79 per cent of retailers surveyed expect revenues to increase over the Christmas period compared to [...]
Former directors at City Link deny failure to inform of hundreds of job losses in court November 5, 2015 **Waiting on a comment from EY by 5. **Link to Express & Star story: http://www.expressandstar.com/business/city-news/2015/11/05/city-link-bosses-failed-to-tell-ministers-of-redundancies/ Short hed: City Link denies criminal charge in trial City Link's three former directors are denying that they failed to inform officials of hundreds of job losses in the first day of a two-day trial. The collapsed parcel delivery company, which [...]
Shawbrook results: Challenger bank says profits jumped 68 per cent thanks to more SME demand for loans November 5, 2015 Shares in challenger bank Shawbrook jumped today after the bank said that its profits are soaring thanks to growing demand from small and medium-sized businesses for loans. Shawbrook, which was founded in 2011 and made its debut on the London Stock Exchange earlier this year, said that its underlying profit rose by 68 per cent during [...]
Tata Steel posts profit rise despite UK crisis November 5, 2015 India-based steel giant Tata has posted an increase in profit of 22 per cent to 15.29bn rupees (£152m) for its third quarter compared to the previous year. The rise in profit comes just weeks after 1,200 jobs in the UK were cut and plants shut down due to an industry supply crisis and falling raw material [...]
Tech stocks: How does the all-time high of Facebook’s share price compare with Amazon, Twitter, Apple, Microsoft and Yahoo? November 5, 2015 Facebook's value has topped $300bn with shares hitting an all-time high following stellar third quarter results yesterday. The social network posted quarterly earning after the bell on Wednesday, showing sales soared by over 40 per cent and mobile growth boomed in the third quarter. “We had a good quarter and got a lot done,” chief exec Mark [...]
One chart showing why it doesn’t really matter how many members of the monetary policy committee voted for an interest rate rise November 5, 2015 Given it's been held at 0.5 per cent since what feels like the dawn of time, there isn't an awful lot to say about UK interest rates these days – so when monetary policy committee (MPC) meeting time comes around, analysts tend to busy themselves looking at details. Thus, the fact Ian McCafferty was again alone in voting in favour [...]
Shares rise at Splenda sweetener-maker Tate & Lyle as profits beat forecasts November 5, 2015 Shares in Tate & Lyle have edged 1.6 per cent higher today after the food ingredients giant posted better-than-expected first half profits, in a sign that its turnaround strategy may be paying off. The figures Adjusted profit before tax rose by 28 per cent to £103m in the six months to 30 September compared with [...]
Bank of England: No UK interest rate rise under present conditions until 2017 November 5, 2015 If global market conditions remain as they are we are unlikely to see an interest rate rise in the UK until spring 2017, according to the latest inflation report from the Bank of England (BoE). The pound fell sharply on the news, and at pixel time was trading at 1.526 against the dollar. The BoE said since the [...]
Bank of England lowers UK growth outlook to 2.7 per cent as MPC votes 8-1 to hold interest rates November 5, 2015 The Bank of England's monetary policy committee (MPC) lowered their UK growth outlook to 2.7 per cent from 2.8 per cent today, as its more hawkish members failed to be convinced of the merits of a rate rise. Although some economists had expected Kristin Forbes or Martin Weale to join the ayes, Ian McCafferty was left alone voting to [...]
