Amazon smashes expectations with sales of $51bn for the first quarter April 26, 2018 Amazon smashed analyst expectations tonight with stellar revenue and profit figures for the first quarter. The online retailer’s shares jumped more than seven per cent in after hours trading following the announcement. Amazon’s sales increased by 43 per cent to $51bn (£36.7bn), from $35.7bn last year. Read more: Top retailers pull ahead of other business [...]
Facebook shrugs off Cambridge Analytica scandal to beat market expectations in first quarter results April 25, 2018 Facebook has beaten analyst expectation on revenue and profit in its first quarter results. The social media colossus brushed past the Cambridge Analytica scandal to deliver revenue of nearly $12bn (£8.6bn), up 49 per cent on the same quarter last year and ahead of the analyst expectation of $11.42bn. Earnings per share were $1.69 a [...]
Google parent Alphabet unveils soaring profit in first quarter but share price stays flat April 23, 2018 Google-owner Alphabet has unveiled strong first quarter results with profits leaping 73 per cent on the back of strong advertising sales. The tech titan beat analyst expectations for both its top and bottom line causing its share price to spike by three per cent before finishing down by 0.33 per cent. In the three months [...]
WPP appoints firm to find Martin Sorrell’s successor April 17, 2018 WPP has hired executive search firm Russell Reynolds Associates to find a permanent replacement for Martin Sorrell. Sorrell dramatically resigned as chief executive of the company that he had led for 32 years on Saturday night following WPP announcing that it was investigating him over allegations of “personal misconduct.” After his departure, WPP confirmed that [...]
WPP share price falls after Sir Martin Sorrell steps down as chief executive April 16, 2018 WPP’s share price has fallen three per cent this morning after the news chief executive Sir Martin Sorrell was stepping down. Sorrell said in a statement late on Saturday that he would be stepping down from the global marketing giant, following an investigation into alleged misconduct. In a statement announcing his resignation, Sorrell said: “The [...]
Good fortune and Godspeed: Sir Martin Sorrell steps down from WPP ahead of misconduct investigation findings April 16, 2018 Global marketing giant WPP could be broken up following the departure of its renowned chief executive Sir Martin Sorrell, with City analysts divided over prospects for the firm. Sorrell’s three-decade tenure at the top of the advertising industry ended dramatically over the weekend as he stepped down from WPP following an investigation into alleged misconduct. [...]
“More important than life or death”: Sir Martin Sorrell’s resignation statement in full April 15, 2018 Prominent adman Sir Martin Sorrell has resigned from his role as chief executive of WPP, the manufacturer he transformed into an advertising and marketing firm with global reach. While his resignation relates to an investigation into allegations of misconduct involving amounts of money which WPP says are not “material” to the firm, the specific reasons [...]
WPP (WPP) share price falls as chief executive Sir Martin Sorrell rejects allegation of financial impropriety “unreservedly” April 4, 2018 Shares in WPP fell in early trading after the firm put out a statement this morning saying it had appointed independent counsel regarding an allegation of personal misconduct against its chief executive. Sir Martin Sorrell has said he rejects the allegation “unreservedly”. Shares in the firm dipped more than three per cent in early trading. [...]
Will the number of listed law firms double over the next 12 months? March 15, 2018 When previously unfashionable Birmingham law firm Gateley listed on London’s AIM market on 8 June 2015, hundreds of years of legal tradition were undone, as members of the public were able to buy shares in a law firm for the first time. While this was undoubtedly a seminal moment for the English legal market, Gateley’s [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]