Vodafone dips into the red as it cuts costs to reduce rising debt November 13, 2018 Selling its Indian arm hit Vodafone’s bottom line in the first half of the year as the company looks to relieve its debt load following the proposed acquisition of Liberty Global assets. The figures Partly driven by the adoption of new IFRS 15 reporting standards, revenues dropped by 5.5 per cent to €21.8bn (£19bn). The company discounted [...]
Brexit: 23 answers to investors’ questions October 16, 2018 The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]
UK wage growth accelerates at fastest rate since financial crisis October 16, 2018 Employees received a bumper pay rise in the three months to the end of August, data from the Office for National Statistics (ONS) revealed today, showing wages have grown at their fastest rate since the financial crisis. Employees’ average weekly earnings received a bumper year-on-year rise of 3.1 per cent excluding bonuses, or 2.7 per [...]
Rightmove profits climb despite competition from property portal rival OnTheMarket | City A.M. July 27, 2018 Property giant Rightmove reported a 12 per cent rise in profit in the six months to June, hitting a record number of prospective buyers visiting its online platform. However, shares fell more than three per cent in early morning trading. Pre-tax profit rose to £98m in the first half of the year and revenues climbed [...]
Amazon hits a trillion-dollar valuation September 4, 2018 Amazon has become the second ever US publicly-listed company to hit a $1 trillion market valuation. Amazon shares briefly passed over the $2,050.27 mark needed to break the milestone earlier this afternoon, before dropping back down to $2,035.56. It crossed the $2,000 per share threshold last Thursday, amid doubts from Wall Street that placed it [...]
Reckitt Benckiser share price leads FTSE 100 as Mead Johnson acquisition pays off | City A.M. July 27, 2018 Consumer goods firm Reckitt Beckiser raised sales guidance this morning, as it unveiled unexpectedly strong performance in its recently acquired nutrition business. The firm received final approval for its acquisition of Mead Johnson, which makes infant formula brand Enfamil. But it has exceeded expectations in the year since then. The group was leading the FTSE [...]
European investment takes bite out of Domino’s Pizza first half profits August 7, 2018 Takeaway giant Domino's Pizza profits cooled down in the first half as costs investing in new markets in Norway and Sweden took a bite out of earnings. Its shares experienced a double digit loss in the morning, shedding 10 per cent as it revealed its falling profits. The figures Statutory profit before tax lost 9.7 [...]
Persimmon produce stable 1H numbers August 23, 2018 Persimmon shares are higher this week after the company registered a strong set of first-half results on Tuesday. Revenue jumped by 5% and pre-tax profit rose by 13%. The average selling price of a new home rose by 1%, which is a slight decrease on the 1.2% growth achieved in the first-quarter. The underlying new housing [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]
Bank of England: Hold fire until there is Brexit certainty says the shadow MPC September 13, 2018 City economists are all but certain that the Bank of England will hold interest rates steady today, only six weeks after raising interest rates and with the Brexit endgame fast approaching. The Bank’s rate-setting monetary policy committee (MPC) will announce its latest decision at midday, with all eyes on any tweaks to guidance around the [...]