CBI distributive trades survey: Retail sales beat expectations in September September 29, 2015 British annual retail sales grew at a faster pace than expected in the year to September, with firms expecting business to pick up pace in the run-up to Christmas, industry research shows. Of the 119 firms surveyed by the Confederation of British Industry (CBI) distributive trades survey, 55 per cent expect sales volumes to increase [...]
Glencore facing race against time as debt concern grows and share price tumbles September 29, 2015 After more than £2bn was wiped off Glencore today, the company is facing a race against time, as investors signalled mounting concern over the size of its debts. The company's debt-laden balance sheet, coupled with persistently low copper prices, could mean Glencore is sitting on a ticking debt time-bomb. "The management have outlined a plan [...]
Oil prices: Has black gold lost its shine? As Royal Dutch Shell takes a $4bn hit from a failed venture, are oil companies still investable? September 29, 2015 Royal Dutch Shell has halted oil exploration in the Arctic, after a $7bn (£4.6bn) quest failed to yield enough crude to justify continued spending. The venture has been a “very costly error” and will damage the company both financially and reputationally, according to Deutsche Bank analyst Lucas Herrman. Shell said it is likely [...]
London beats New York for the number of high tech jobs September 29, 2015 London is home to more tech talent than the cities of New York and San Francisco – or anywhere in Europe. There are more than 71,000 professional developers in the capital, according to research from Stack Overflow, an online developers’ group: 25 per cent more than NYC. A separate set of data from [...]
Saudi Arabia takes billions from asset managers to shrink deficit September 29, 2015 Saudi Arabia has pulled up to $70bn (£46bn) out of global asset managers in a bid to cut its deficit and reduce exposure to equities markets as it struggles to deal with weakened global oil prices. According to a report in the Financial Times, the Saudi Arabian Monetary Agency’s foreign reserves have fallen by almost [...]
UK companies may struggle to cover dividends as profitability plummets September 29, 2015 Dividend cover for the UK’s top 350 shares has dropped to a near six-year low as profitability among the country’s largest firms has dwindled, according to research from The Share Centre. Dividend cover is a ratio defined by profit after tax divided by dividends paid. The higher the ratio, the greater the comfort that a [...]
Comcast focuses on theme parks with purchase of Universal Studios Japan for $1.5bn September 28, 2015 US media conglomerate Comcast is spending $1.5bn (£999m) for control of the Universal Studios theme park in Osaka, Japan as it looks to expand its attractions business around the world. Read more: OMG! NBCUniversal invests $200m in Buzzfeed In what the company said was its largest ever international investment, Comcast will purchase 51 per cent of [...]
Skills gap grows and threatens UK productivity September 28, 2015 UK employers are facing even greater skills shortages and rising wage pressures, according to a new report from global recruiters Hays. Since 2012, the UK’s talent mismatch level – the gap between the skills people can offer and those employers are looking for – has increased every year. The UK now has a talent mismatch [...]
EU referendum: Fast-growing UK firms want to remain in the European Union and say Brexit will negatively impact their business September 28, 2015 High-growth companies are overwhelmingly in favour of Britain remaining in the European Union, according to a poll out yesterday. ECI Partners, a private equity firm, polled more than 300 fast-growing British firms over the summer, finding that nine out of 10 want the UK to remain in the EU. Just over half said [...]
