Henderson surprises with £25m buyback plan after riding out rough markets July 31, 2015 Fund manager Henderson yesterday unveiled a £25m share buyback programme after beating expectations with a near 30 per cent rise in underlying profits. However, the firm, led by chief executive Andrew Formica, said the market rout in June had caused assets under management to fall by eight per cent to £82.1bn from £89.4bn compared to [...]
Countrywide share price slumps after UK housing market slowdown July 31, 2015 Shares in the UK’s biggest estate agency Countrywide tumbled four per cent yesterday after posting a sharp fall in profits, blaming a “difficult housing market” and the uncertainty in the run-up to the General Election. The company, which owns estate agencies including Hamptons, Blundells and John D Wood, said profit before tax decreased [...]
Xchanging share price plummets and David Andrews quits as results shock market July 31, 2015 A dramatic share price slump, performance issues and a chief executive departure…sadly Xchanging is in familiar territory. The business outsourcing group saw the value of its shares fall more than 22 per cent yesterday, after first-half results showed larger-than-expected losses from its procurement unit, as it announced boss Ken Lever’s resignation. Revenue slumped 2.8 per [...]
Eurozone recovery finally gaining traction as Spanish economy grows one per cent July 31, 2015 The Eurozone economy is picking up steam, with bullish figures released yesterday suggesting the currency bloc could be about to turn a corner. Spain’s economy grew by one per cent in three months to June, its fastest pace for seven years. The economy is now 3.1 per cent larger than it was a year ago, [...]
UK firms and consumers upbeat on the economy July 31, 2015 The UK’S economic growth prospects got a boost today as more British businesses said they are seeing output grow, while consumers are more confident on their finances. More firms registered output growth in three months to July, according to a survey of firms published by the Confederation of British Industry (CBI). The percentage of firms that [...]
US mulls oil price war with Middle East: Senate debates lifting ban on exports July 31, 2015 Senators in the US have raised the prospect of an oil price war with the Middle East. The Senate held a crucial meeting on whether the decades-old ban on exporting crude oil should be lifted, with chair of the Senate committee on energy and natural resources, Lisa Murkowski, arguing the US should “compete against our [...]
Strong US GDP figures set the stage for a Fed interest rate hike July 31, 2015 New figures out yesterday showed that US economic growth accelerated in the second quarter, fuelling expectations that the Federal Reserve will hike interest rates later this year. GDP expanded at a 2.3 per cent annual rate, with strong consumer spending offsetting weak business spending. Economists had expected a 2.6 per cent rise in GDP, but Millan [...]
The great oil reset: Shell to axe 6,500 jobs as black gold price set to stay low July 31, 2015 Oil giant Shell revealed yesterday that it will axe 6,500 jobs this year, as new figures highlight the extent of cost-cutting throughout the industry. Shell slashed capital expenditure to around $30bn (£20bn) for 2015, a reduction of $3bn since the group’s last update in April. With extremely low oil prices taking their [...]
Linkedin share price jumps as revenue beats expectations July 30, 2015 Linkedin's second quarter figures exceeded expectations by a long way, and investors were delighted. The figures From April to June, the professional networking site's revenue was $712m (£456m) – a 33.3 per cent increase from the year before. This was better than the $680m analysts were expecting. Read more: LinkedIn share price plummets as second [...]
British Airways is shrinking its hand luggage allowance to reduce risk of delays July 30, 2015 British Airways is reducing the amount of hand luggage each passenger can take on board with them, to limit the chance that the overall cabin allowance is exceeded. Read more: Carry-on luggage on airlines including Lufthansa and Emirates is about to get even smaller In an email sent to customers, it said that the [...]
