London Stock Exchange Group profits jump as it hails Refinitiv deal a success March 2, 2023 The London Stock Exchange Group said its “strategy is working” today as it posted a jump in pre-tax profits and claimed its acquisition of data firm Refintiv had delivered a boost to to the bottom line. The parent company of London’s bourse said pre-tax profits had jumped 38.8 per cent to £1.24bn last year, up [...]
Moderna investors left disappointed by vaccine maker’s subdued sales forecast despite strong fourth quarter February 23, 2023 Moderna has reaffirmed annual sales forecast of $5bn (£4.1bn) for its Covid-19 vaccines despite its fourth-quarter sales exceeding estimates, on expectations of lower demand for the shots in the fourth year of the pandemic. Sales of the vaccine, Moderna’s sole commercial product, were expected to fall sharply this year from $18.4bn in 2022 as most people [...]
Scottish Power owner Iberdrola expects hefty profit rise before windfall tax February 22, 2023 Scottish Power owner and Spain's biggest utility firm Iberdrola expects its net profit to increase by eight to ten per cent this year.
Could financial services dealmaking rebound this year? EY thinks it might February 20, 2023 The value of dealmaking among UK financial services firms could rebound this year after a sharp slump in 2022, as volatile valuations settle and private equity firms swoop back into the market, EY has predicted. The predictions come after the total value of deals in the UK fell 40 per cent last year to £15.2bn [...]
Lyft loses ground on Uber: Share price falls 30 per cent after profit down £100m on forecast February 10, 2023 Lyft is trailing behind competitor Uber as disappointing forecasts have caused investors to lose confidence. Shares in the ride-hailing company dropped more than 30 per cent this week after it reported lower than expected first quarter profit forecasts of $975m (£805m). Initially, analysts forecasted it would be at $1.09bn (£900m), according to Refinitiv data. Lyft [...]
Driving success: Uber eyes profitability as airport and office journeys fuel post-pandemic rideshare demand February 8, 2023 Uber said it had set its sights on delivering profits this year after 2022’s surge in demand for airport and office rides helped the company rebound from pandemic lows. Dara Khosrowshahi, chief executive of Uber, said the company was now focused on achieving profitability on a GAAP basis this year. Khosrowshahi said: “The pandemic’s impact on [...]
World’s biggest gold miner Newmont tables £14.1bn offer for rival firm Newcrest February 6, 2023 Top gold producer Newmont Corp has made a £14.1bn ($16.9bn) offer for Newcrest Mining to build a global gold behemoth.
We need more than a charm offensive for SoftBank’s microchip firm to list in London January 20, 2023 SoftBank-owned microchip firm Arm is in Rishi Sunak's sights for a London listing and a win for the UK's tech scene. But we need more than just love from No10 to boost our attractiveness to the tech world, writes Ian Manocha.
Blackrock poised to cut 500 jobs as the world’s biggest money manager hit by downturn January 12, 2023 Blackrock is planning to lay off 500 staff globally, according to reports, as the world’s largest asset manager continues to grapple with 2022’s market sell-off. The planned redundancies, first reported by Reuters and Insider, represent a roughly 2.5 per cent reduction in Blackrock’s global workforce. They were communicated to employees in an internal memo from [...]
Microsoft becomes shareholder in the London Stock Exchange Group December 12, 2022 Microsoft snapped up a stake in the London Stock Exchange Group this morning, as big tech continues to disrupt the world of trading. As part of the deal, Microsoft will buy a four per cent stake in the exchange worth about £1.5bn from Blackstone, Thomson Reuters, Canada Pension Plan Investment Board and Singapore’s sovereign wealth [...]