LG profits to plummet 80 per cent in festive quarter, as Samsung shares hit by weak chip demand January 8, 2019 LG Electronics has said its operating profit for the fourth quarter is likely to drop 80 per cent from the same period in 2017, falling miles away from previous analyst expectations. The world's second largest TV manufacturer has forecasted profit of just 75.3bn won (£52.5m) for the three months to December last year, which is also [...]
UK M&A value soars by more than a quarter in 2018 as number of mega-deals increases January 3, 2019 The value of merger and acquisitions involving UK companies soared by more than a quarter last year as the number of mega-deals surged. Deal activity reached a three year high in 2018, while M&A activity involving UK firms hit £359.9bn which is 28 per cent more than the value recorded in 2017, according to data [...]
Facebook braces for $5bn hit after privacy scandals April 25, 2019 An ongoing probe into a slew of data breaches at Facebook has left the social media giant braced for a financial hit of up to $5bn (£3.9bn) in fines and legal costs. The social media giant’s profit for the first three months of this year more than halved year-on-year to just $2.4bn, with earnings per [...]
Google parent Alphabet misses estimates as EU fine takes its toll April 29, 2019 Alphabet missed Wall Street estimates on revenue in its first quarter, while the EU's €1.5bn (£1.3bn) advertising fine weighed on profit. Revenue rose 16.7 per cent to $36.3bn for the first three months of 2019, its slowest pace in three years, missing analyst estimates of $37.3bn according to data from Refinitiv. The parent firm of [...]
Twitter profits triple as it reaps rewards of crackdown on harmful content April 23, 2019 Shares in Twitter rose more than 16 per cent today after the social media platform posted a threefold increase in first-quarter profits. Read more: Twitter boss Jack Dorsey was paid just $1.40 in 2018 The figures Revenue grew 18 per cent year-on-year to $787m (£605m) in the three months to the end of March. Net [...]
Countdown to Brexit: three market indicators to watch April 15, 2019 With politicians still struggling to agree the terms of withdrawal, investors in assets linked to the UK economy could be in for an uncertain time. UK investments have already underperformed their global peers since Britain voted to leave the EU, in June 2016. For instance, sterling is down 8.4 per cent since the vote and despite [...]
Facebook shares soar as it beats estimates on revenue and user numbers January 30, 2019 Shares in Facebook jumped more than eight per cent in after-hours trading tonight, boosted by a welcome set of positive fourth quarter results for the beleaguered social media firm. Revenue at Facebook rose to $16.9bn (£12.9bn) in the three months to 31 December, up 30 per cent compared to the same period last year and [...]
Travis Perkins’ share price rallies despite moving into the red amid ‘challenging’ market February 26, 2019 Travis Perkins shares rallied on beaten analyst expectations even as the company posted a loss for the first time in years for 2018 against a “challenging” market backdrop. The figures The builders’ merchant grew revenues 4.8 per cent to £6.7bn last year, with like-for-like revenue growth up 4.9 per cent – faster than 2017. Read more: [...]
Switch sales help Nintendo beat profit expectations January 31, 2019 Nintendo has recorded a 26 per cent jump in operating profit in its third quarter today, driven by strong sales of its Switch console. The figures The video game giant reported an operating profit of ¥158.6bn (£1.11bn) in the three months to the end of December, up 26 per cent on the same period a year ago and [...]
Acquisitive Barrick Gold flexes muscles again with $18bn hostile bid for Newmont February 25, 2019 Two global gold miners could merge this year to form what would undisputedly be the world’s largest producer of the precious metal, amid increased consolidation in the sector. Giant Barrick Gold has launched a hostile bid to buy rival Newmont for a share-only deal valued at around $18bn (£14bn). Read more: Shareholders at Randgold Resources back [...]