Amazon shares bounce as figures leapfrogs expectations in Prime boost January 30, 2020 Amazon reported better-than-expected results for its fourth quarter tonight, sending shares up more than 13 per cent in after-hours trading and pushing it back above $1 trillion in market value. For the three months to the end of December 2019, the e-commerce giant posted a profit of $6.47 per share, or $4.2bn, jumping well ahead [...]
Tesla share price falls after it misses deliveries target October 2, 2019 Shares in Tesla fell as much as six per cent in post-close trading after it delivered fewer vehicles than expected in the third quarter. Elon Musk’s firm delivered a record 97,000 vehicles in the quarter, up 1.9 per cent on the previous three months. However, this was below estimates of 97,477. The total consisted of [...]
On a roll: Greggs employees to get £7m bonus after ‘exceptional year’ January 8, 2020 Greggs has said it will give staff a special £7m bonus payment following a “phenomenal” year when the launch of its wildly popular vegan sausage roll helped bring in a higher than expected profit. In a trading update issued this morning, Greggs raised its profit forecast for the 12 months ending 28 December 2019, calling [...]
Hong Kong’s bid for London Stock Exchange whips up a storm September 11, 2019 A blockbuster plan to merge the London Stock Exchange with its Hong Kong counterpart faces an uphill battle after being met with scepticism from politicians and investors alike today. Read more: Hong Kong bourse proposes merger with LSE Hong Kong Exchanges and Clearing (HKEX) shocked the City this morning after revealing a surprise £32bn bid [...]
Fevertree cuts forecast as slowdown takes fizz out of UK sales November 20, 2019 Drinks supplier Fevertree has cut its full-year revenue forecast amid “challenging comparators” and a slowdown in UK consumer spending in the second half. The mixer specialist cut its revenue expectations to between £266m and £268m for the full-year, representing year-on-year growth of 12 to 13 per cent. Read more: Fevertree shares go flat as poor [...]
UK private equity deal values double during strong first half September 4, 2019 UK companies led European private equity (PE) and venture capital (VC) activity during the first half of 2019, with the value of PE buyouts more than doubling. Overall PE buyout and related deal values for UK firms climbed to €23.3bn (£21.2bn) during the first half, an increase of 124 per cent on the €10.4bn seen [...]
Top investment bank fees slide across the board in 2019 amid deals slowdown in Europe and US August 9, 2019 Fees at all but one of the world’s 20 largest investment banks tumbled in the first half of 2019, as fewer mergers in Europe and a global slowdown in initial public offerings (IPO) dented corporate pay cheques. Europe’s investment banks earned a combined $13.3bn (£11bn) worth of fees in the first half of 2019, plunging [...]
M&A excitement and falling pound put rocket under FTSE 100 July 29, 2019 Britain’s FTSE 100 benchmark stock index has stormed higher due to investor excitement over mergers and acquisitions (M&A) and a sinking pound. Read more: London Stock Exchange share price hits record high on Refinitiv takeover talks The index climbed two per cent by 2pm UK time to stand at around 7,697, the highest it has [...]
London Stock Exchange launches consultation on shorter trading hours December 10, 2019 The London Stock Exchange (LSE) has launched a consultation on shortening its trading hours following calls by industry bodies who said such a change would improve workplace culture and liquidity. The stock exchange has asked its members – mainly banks and brokers – for its views on a series of options for shortening the current [...]
Blackstone’s third-quarter results beat expectations October 23, 2019 Blackstone, the world’s largest private equity firm, has reported an increased profit for the third quarter, but a drop in the proportion of earnings that could be returned to shareholders. The group posted a profit of $779m (£605m) for the third quarter, up from $443m a year earlier. Read more: Takeover titan and Blackstone boss [...]