P&G share price rises after plans to cut 100 brands revealed August 1, 2014 Procter and Gamble, the world's largest consumer goods company, is looking to cut up to 100 of its smaller brands. The maker of Tide detergent and Gilette razors will focus on the 70 or 80 brands responsible for 90 per cent of the company's sales and 95 per cent of its profits. Of those [...]
Alibaba to set IPO wheels in motion as soon as 8 September August 30, 2014 Alibaba's initial public offering to investors could be just over a week away, with the Chinese ecommerce giant expected to launch its IPO as early as the week of 8 September. In what many are predicting will be the largest IPO in history, Alibaba could raise over $20bn (£120bn) when it lists on the New York [...]
Manchester United finances: Club announce record revenues despite seventh-placed finish September 10, 2014 Manchester United may have endured a turbulent time on the pitch last season, but off it, they continued to make remarkable progress. The club released their financial accounts for the 2013-14 season today, which revealed a mammoth total revenue of £433.2m, a 19 per cent increase on last season's £363m. United's struggles on the pitch culminated [...]
Investors should pause before gambling on the Alibaba flotation frenzy September 18, 2014 THE IPO of China’s largest e-commerce platform Alibaba has drawn frenzied interest from investors worldwide, with the company expected to raise at least $21bn on the New York Stock Exchange. But the listing has also prompted serious questions about the firm’s governance structure. Alibaba is, of course, a very successful business and investors have been [...]
23 pictures that sum up 2014 December 15, 2014 The year is drawing to an end so it's time to take a look back at 2014 in pictures. In January, workers at the French Goodyear factory went on strike and then took two executives hostage after it was announced that the company was going to close the plant, with the loss of more [...]
Alibaba expects IPO to raise $24.3bn with largest listing in history September 6, 2014 Alibaba expects to raise $24.3bn when it lists on the New York Stock Exchange (NYSE) later this month. If it raises that sum, the Chinese e-commerce giant's initial public offering (IPO) will be the largest in history, giving it a valuation of around $163bn. In a regulatory filing with the US Securities and Exchange Commission, [...]
Window and door maker Eurocell sees shares surge on stock debut March 4, 2015 SHARES in Eurocell traded up yesterday after the window and door maker’s debut on the London Stock Exchange. The Derbyshire-based firm, spun off by private equity group H2 Equity Partners, priced its shares at 175p, valuing it at £175m. But the company’s shares closed up 6.6 per cent at 186.62p. “We have been delighted by [...]
Gold price hits five-year low: Is it all over for the precious metal? July 27, 2015 With prices at five-year lows, Annabelle Williams asks whether the precious metal is truly hammered The gold price has been hammered in the last few weeks, leaving the precious metal at the lowest prices for five years. Gold took a nosedive last week when an unknown entity – with considerable power, perhaps a [...]
American Express profits rise as customers won’t leave home without it July 29, 2014 Credit card giant American Express yesterday reported a bigger-than-expected nine per cent rise in quarterly profit as more customers used its credit cards in a recovering US economy. Card member spending rose nine per cent globally, after adjusting for foreign currency, compared to seven per cent growth in the preceding quarter and eight per cent [...]
New York Report: Dow breaks 17,000 barrier July 3, 2014 The Dow Jones Industrial Average yesterday smashed through 17,000 points for the first time ever in intraday trading, after an encouraging report on US job creation helped to reassure investors that economic growth could support stock benchmarks at all-time highs. The Dow rose 0.41 per cent, to 17,045.43, the S&P 500 index was up 0.6 [...]