Smartphone maker HTC to cut 15 per cent of workforce after disappointing sales August 13, 2015 HTC announced today it would be axing 2,250 jobs, or 15 per cent of its workforce, after disappointing investors with yet another batch of sub-par results. The struggling Taiwanese smartphone maker’s sales missed expectations in the second quarter, and are forecast to drop further still in the months to come. Last week's earnings report reported [...]
Tui Group share price leaps despite profit hit from Tunisia terror attack August 13, 2015 Shares in Tui Group jumped 7.5 per cent to 1,118p after results posted this morning showed a rise in profits – despite the terror attack in Tunisia and uncertainty over the Greek debt hitting its revenues. The figures Tui Group reported net income of €49.4m (£35.2m) in the three months to June 30, having made a [...]
What’s in a name? Why Google’s transition to Alphabet is great news for investors August 13, 2015 Companies change names and rebrand when they wish to turn over a new leaf, or refresh their perception amongst key stakeholders. Some work, some don’t – just think about Britain’s Royal Mail and its short-lived rebranding to “Consignia”. That name change quickly got lost in the post. And remember PwC’s abortive attempt to switch to [...]
Cineworld profits rise to monster levels thanks to Jurassic World and Fifty Shades August 13, 2015 Shares in Cineworld rallied this morning after the UK’s largest cinema operator revealed an 11.5 per cent jump in revenues, saying it was performing ahead of plans thanks to box office hits including Fifty Shades of Grey and Jurassic Park. Total revenues, when factoring in the European chain Cinema City it acquired last year, reached [...]
Work-life balance: There is no wealth but life – and work needs to fit in around that August 13, 2015 Work-life balance has become a common buzzphrase, especially with the ongoing Tube strikes, supposedly sparked by the changes the Night Tube will cause to Tube workers' home and social lives. Like all clichés, it has its roots in something really crucial – but it is my belief that the concept is becoming redundant. Simply [...]
Marks & Spencer’s share price tumbles as womenswear boss Frances Russell leaves August 13, 2015 Marks & Spencer's share price has fallen by almost two per cent this morning on the news of yet another shake-up at the troubled high street chain that will see its womenswear boss Frances Russell step down. Russell, who has led the womenswear business for three years, will be replaced by M&S’s lingerie boss [...]
End of an era: SunGard Data Systems finally sold by backers August 13, 2015 One of the biggest buyouts of the pre-crash US private equity boom has finally been sold, a decade after its audacious takeover. SunGard Data Systems, which makes trading software, has been offloaded for $9.2bn (£5.9bn) to US financial software company Fidelity National Information Services. New York-listed Fidelity will pay 45 per cent in cash and [...]
Sainsbury’s TU clothing website goes national August 13, 2015 Sainsbury’s has launched its TU clothing website across the UK for the first time today, as it seeks to challenge high street rivals and bolster its position in fashion. The supermarket chain, which has been trialling its online service since August last year, said its TU womenswear, menswear and childrenswear are now available for next [...]
Rupert Murdoch’s News Corp sales fall short of expectations August 12, 2015 The figures News Corp’s sales missed analysts’ expectations, with total revenue falling two per cent to $2.14bn from $2.19bn. Rupert Murdoch’s publishing company reported a net loss of $379m, against a $12m profit a year ago. At 7 cents, earnings per share beat forecasts, with analysts’ predicting earnings per share of 5 cents. News Corp [...]
Struggling banks must not be immune to watchdog’s bite August 12, 2015 It's two years since “saying it with Flowers” gained entry into the lexicon of British banking. This week’s dual censure from the banking and City regulators will have felt like groundhog day to Niall Booker and the rest of the Co-operative Bank’s management. The Treasury Select Committee and a review by Sir Christopher [...]