Robinsons owner Britvic warns of sluggish start to the year November 25, 2015 Robinsons squash and J2O maker Britvic reported a sluggish started to the year, blaming tough market conditions due to changing shopping habits and increased competition between the traditional supermarkets and their discount rivals. The maker of Tango and PepsiCo brands Pepsi Max and 7UP, reported a 7.1 per cent rise in earnings before interest, tax, [...]
Securities Association of China: Brokerage Citic Securities makes a $166bn error November 25, 2015 China's biggest brokerage, Citic Securities, massively overstated the value of its derivatives business according to the country's security association. The Securities Association of China (SAC) said today that a monthly report submitted to it by Citic contained inaccurate figures. Read more: Citic fails to impress as its shares float in Hong Kong The statement said new and [...]
Cake maker Finsbury posts sweet performance after munching on new bakeries November 25, 2015 Celebration cake maker Finsbury Food Group reported a huge jump in revenue during its first four months of the financial year thanks to recent acquisitions of rival bakeries. The company, which supplies major baked goods as well as Peppa Pig and Disney Princess celebration cakes to retailers including Morrisons and Marks & Spencer, said sales revenue [...]
Anglo American’s share price slides as HSBC raises dividend and cash burn concerns November 25, 2015 Anglo American's share price has tumbled after HSBC lowered its stock rating on the company to "reduce" from "hold". In mid-morning trading Anglo American's share price was 8.24 per cent down at 415p, the largest faller on the FTSE today. HSBC today said the company is likely to have to spend its cash, despite having cut costs, while [...]
Aldi issues recall alert over halogen oven – and why the supermarket won’t be taking part in Black Friday 2015 November 25, 2015 Aldi has issued a recall notice for a halogen oven sold in the UK over safety fears. Customers who bought the oven, which carries the product code 92746, on 22 October are being asked to return it to their nearest store “immediately”. It was sold as part of a Specialbuy event, the supermarket said. People have [...]
Beyonce to launch new brand Parkwood Topshop Athletic with Sir Philip Green’s retail empire as profits edge higher November 25, 2015 Sir Philip Green said profits for his retail empire that included Topshop and Dorothy Perkins edged higher last year against a background of a “fast changing” retail industry. The tycoon also revealed a new joint clothing venture with singer Beyonce to produce a new “athletic streetwear brand” called Parkwood Topshop Athletic. The global venture is [...]
FTSE 100 index opens higher as housebuilders rally on chancellor George Osborne’s Autumn Statement national housing budget plans November 25, 2015 The FTSE 100 index was up in mid-morning trading, led by housebuilders which cheered chancellor George Osborne's plans to double the national housing budget when he presents his five-year spending plan later today. The UK's top blue-chip index rose 0.82 per cent to 6,329 points. Persimmon led the index higher, its share price rising 6.06 per cent to 1,890p [...]
The grass is always greener… Three Goldman Sachs investment bankers leave for Uber November 25, 2015 It's supposed to be one of the dream jobs for any banker, but three Goldman Sachs employees think the grass is greener… at Uber. Three mid-level bankers from Goldman Sachs' technology investment banking group, based in San Francisco, have left to join Uber recently, which was first reported by Reuters. The bank has always had a close [...]
Worldpay: Mobile payments will “leave growing pains” in 2016 November 25, 2015 Get ready for the “third age of digital payments” coming next year, according to payments processor Worldpay. In its Global Payments Report released today, the company predicts that the technology will really hit mass appeal in 2016, as major banks and brands begin rolling out their own mobile payments apps. The company also forecasts that [...]
Royal Dutch Shell, Exxon Mobil and Glencore: Energy companies risk wasting trillions on uneconomic projects November 25, 2015 Energy companies risk wasting $2.2 trillion (£1.46 trillion) on uneconomic projects over the next 10 years, according to a new report. Think tank the Carbon Tracker Initiative's (CTI) report how fossil fuel firms risk destroying investor returns says energy companies' focus on fossil fuels at the expense of emerging clean technologies could put them out of kilter [...]