Wall Street closes down after volatile day which saw S&P 500 reach new year lows January 20, 2016 The Nasdaq, Dow Jones and the S&P 500 all closed down in New York after a rollercoaster ride today. Wall Street was heading for record losses but managed a late (sort of) rally before the close. The S&P 500 was at its lowest in over a year, losing 21.92 points, or 1.17 per cent, to 1,859.41. The Dow Jones staged [...]
Deutsche Bank will make its first full year loss since 2008 as it faces huge legal and restructuring costs and challenging markets dry up revenues January 20, 2016 Deutsche Bank has warned investors it expects to report a €6.7bn (£5.15bn) loss for the fourth quarter of 2015. The €6.7bn net loss comes as a result of €1.2bn in legal costs, as well as €800,000 in restructuring fees and severance pay, mainly for the retail bank for private and business clients. The bank is expecting [...]
London Liverpool Street Station in chaos as TfL rail and Greater Anglia services are suspended after a man was hit by a train near Bow January 20, 2016 Train services from London's Liverpool Street station were cancelled this evening, after a man was hit by a train near Bow. Thousands of passengers were left stranded, unable to return home, when TfL rail and all Greater Anglia services were cancelled while the emergency services were at work. Two of the four lines have reopened now, with Greater [...]
Market volatility takes its toll on hedge funds, as returns slip to lowest levels since 2011 January 20, 2016 Hedge funds had their worst performing year last year since 2011, posting returns of 2.02 per cent, according to the latest data from Preqin. December was a tough month, with the funds on Preqin's all strategies benchmark posting negative returns of 0.4 per cent on average, bringing the total to five months with negative returns last year. [...]
Barclays cuts bonuses and jobs in London, New York and Asian Investment Banking divisions January 20, 2016 Barclays' Investment Banking division could see its bonuses cut by 10 per cent as cost cutting continues, it has been reported. As part of the ongoing restructuring at the investment bank, staff could see their bonuses fall 10 per cent compared to last year, according to Bloomberg reports. As previously announced, Barclays will pay bonus payments later than [...]
Netflix share price rockets after results beat expectations and revenue rises 23 per cent January 19, 2016 Netflix shares jumped 8.15 per cent to $116.68 in after hours trading, having jumped as much as 10 per cent, after releasing fourth quarter earnings which beat analysts expectations. The figures Revenue for the last quarter of 2015 was $1.82bn (£1.29bn), up 23 per cent from $1.49bn the year before. Earnings per share were 10 cents a share, down from 19 cents [...]
Former Barclays boss Bob Diamond’s daughter Nell Diamond launches a bedding company January 19, 2016 The daughter of former Barclays boss Bob Diamond, Nell, has launched her own bedding company Hill House Home. Diamond said on Twitter she had always wanted to work in design: https://twitter.com/nelliediamond/status/689537875310989313 Hill House Home's website promises "we’ve spent thousands of hours exploring fibres and finishes… We’re experts in bedding so you don’t have to be." Diamond said [...]
Leonardo DiCaprio attacks the “corporate greed” of oil companies at the World Economic Forum awards in Davos January 19, 2016 Leonardo DiCaprio this evening won an award from the World Economic Forum for his leadership in tackling the climate crisis and used his speech to attack energy companies. He said to the audience in Davos: We simply cannot afford to allow the corporate greed of the coal, oil and gas industries to determine the future of humanity. "Those entities with a financial [...]
Former Twitter chief executive Dick Costolo is “reimagining the path to personal fitness” with a new software platform he’s launching with Fitify’s Bryan Oki January 19, 2016 Former chief executive of Twitter Dick Costolo revealed today he is starting a new company with Bryan Oki, the co-founder and chief exec of corporate fitness consulting firm Fitify. He also said he was joining venture capital firm Index Partners, which has previously invested in companies such as SoundCloud, Etsy, and King Digital Entertainment. He made the announcements on Twitter (where else?) six months after [...]
Tiffany’s share price falls as it reports poor Christmas sales thanks to a strong dollar and weak tourist spending January 19, 2016 Jeweller Tiffany & Co saw its share price tank today, after reporting sales struggled over the Christmas period. Tiffany shares were trading down by around five per cent by late morning in New York. The figures Revenue in the two month holiday period over November and December fell six per cent to to $961m (£679m). On a constant exchange-rate basis, [...]