Twitter files its annual report after a rough year: monthly active users stagnate as head count remains stubbonly high February 29, 2016 Twitter has missed its own targets for a reduction in its head count as it struggles with stagnant user growth and stalling revenue. Despite promising to rein in costs, staff numbers at Twitter rose by approximately 260 full-time employees over the year to hit a whopping 3,898 at the end of December 2015. At the tail end [...]
WH Ireland Group share price up despite wealth management company falling into a loss-making position for its year ended November 2015 after FCA levies £1.2m fine February 29, 2016 Share price in WH Ireland Group rose today despite the company tumbling into a loss after accounting for a regulatory fine. The wealth management company reported a loss before tax of £346,000 for its year ended November 2015, down from a profit of £456,000 the year before, after finding itself subject to a £1.2m fine [...]
Royal Bank of Scotland (RBS) chief executive Ross McEwan, chairman Sir Howard Davies, and chief financial officer Ewen Stevenson bought almost £1m shares in the taxpayer-backed bank February 29, 2016 Royal Bank of Scotland (RBS) revealed today that its top bosses have bought up nearly £1m in shares in the lender, just days after the taxpayer-backed bank reported disappointing results for 2015. News of the bank’s eighth consecutive year of losses sent RBS shares down more than seven per cent at the end of last week. Investors were doubly [...]
Icahn Enterprises share price rises despite widening losses and falling revenues for the full year ended December 2015 February 29, 2016 Share price in Icahn Enterprises rose today despite the company revealing that its revenues had fallen and its losses widen. The conglomerate company announced net losses attributable of $1.2bn (£860m) for the year ended December 2015, down from a loss of $373m the year before. Meanwhile, the company, which has investments across numerous sectors such [...]
Budget hotelier Travelodge puts £1bn sale plans on hold after record year February 29, 2016 Travelodge has confirmed it has shelved plans for a £1bn sale of the business after hailing record earnings of £100m last year. The budget hotelier has been at the centre of heated bid speculation after its co-owners Goldman Sachs, GoldenTree Asset Management and Avenue Capital, brought in bankers from Deutsche Bank to advise them on [...]
African gold miner Amara Mining share price jumps on takeover bid from Perseus Mining February 29, 2016 Shares in Aim-listed Amara Mining jumped today, after the African gold miner received a $85m takeover bid from Perseus Mining. There's long been speculation about consolidation in the African gold space as smaller, cash-strapped firms look to benefit from their bigger competitors' stronger balance sheets. The miner's shares jumped as much as 26.8 per cent to 13p per share this [...]
Bunzl reports growth in profit and revenue as it brings business acquisitions total to 22 February 29, 2016 Outsourcer and distribution group Bunzl today reported profit and revenue growth as its acquisition spree spread further. In 2015, the company’s adjusted operating profit was £366.5m, up from £341.8m in 2014. Its total revenue was £6.5bn, up from £6.2bn. The London-based group also revealed it has spent £327m acquiring 22 businesses, including the today's takeover of [...]
US shale gas industry sets sights on oil prices recovering to $40 February 29, 2016 Two of the largest US shale gas producers have said oil recovering to $40 per barrel will reverse the ailing industry’s fortunes. Continental Resources could increase capital spending if US crude reaches low-to mid-$40s, allowing it to boost production by 10 per cent next year, chief financial officer John Hart said last week. Whiting Petroleum also [...]
Quindell buyer Slater and Gordon’s share price plummets on $958m loss largely due to a huge UK writedown February 29, 2016 The company which bought embattled Quindell almost a year ago has reported a nearly AUD$1bn loss today, driven by a huge writedown of its UK assets. Slater & Gordon shares nearly halved after it posted a $958m (£492m) loss for the six months ended December 31st, primarily due to a $814.2m writedown on its acquisition of the professional services arm [...]
China creates 100bn yuan fund to cut jobs in steel, coal sectors February 29, 2016 China announced today that it's created a 100bn yuan fund to lay off nearly two million workers in its embattled coal and steel sectors. Yin Weimin, the minister for human resources and social security, told a news conference that 1.3m workers in the coal sector could lose their jobs, in addition to 500,000 from the steel [...]