US corporations including Apple and Google pledge billions to help Obama administration combat climate change ahead of Paris summit July 28, 2015 US corporations are pledging billions of dollars to green finance, as the private sector supports the Obama administration in securing a strong global deal on combating climate change. Thirteen top US companies, including Apple, Walmart and Google, teamed up with the White House to launch the American Business Act on Climate Pledge. The campaign is [...]
Shawbrook profits soar, almost doubling to £34.8m July 28, 2015 Shawbrook has reported a 94 per cent rise in underlying pre-tax profit after its recent IPO and amid ongoing concerns of a bank surcharge. The figures Shawbrook, the challenger bank founded in 2011 to fill the gap left by high street lenders when they tightened restrictions on lending to small firms, has performed strongly in [...]
Supermarket wars: Growth at Co-op Food for first time in a year, as Tesco and Asda decline yet again July 28, 2015 The Co-Operative supermarket is back in growth for the first time in a year, as Sainsbury's reclaims its second place position in the sector. The sector experienced slight growth for the 12 weeks to 19 July, with sales up 0.8 per cent year on year – though this was generally experienced by the smaller [...]
UK GDP: London leads the way when it comes to economic growth July 28, 2015 Official data released today has shown that the UK economy bounced back in the second quarter of this year, growing by 0.7 per cent, up from 0.4 per cent in the first quarter and in line with economists' expectations. But which cities are the main drivers of this, and who reaps the rewards? Londoners lead [...]
ITV audience numbers fall to lowest in 15 years while profits climb July 28, 2015 ITV audience numbers may have fallen to lowest in 15 years, but the broadcaster is continuing to grow revenues from advertising as well as its production arm ITV Studios. The broadcasters share price was trading 2.6 per cent up in mid morning trading after the announcement. The figures The broadcaster posted a pre-tax profit of [...]
Royal Mail’s share price plummets after Ofcom claims it “breached competition law” over delivery service changes July 28, 2015 Royal Mail's share price plummeted three per cent in early trading after Ofcom claimed it had “breached competition law” by behaving in a way that “amounted to unlawful discrimination” against competitors. The communications watchdog has issued a strongly worded “statement of objections” as part of an ongoing investigation prompted by complaints against Royal Mail [...]
Next’s share price jumps as it raises profit forecast after better than expected first half July 28, 2015 Next's share price jumped 1.4 per cent this morning, after raising its profit guidance for the full year following better than expected sales in the first half of this year. The high street chain is really showing Marks & Spencer how to do it. While its high street rival is struggling to get its [...]
BP profits tumble 50 per cent on lower oil prices and Deepwater Horizon charge July 28, 2015 BP shares are trading 1.19 per cent up in mid morning trading after it reported a 50 per cent drop in underlying profits during the second quarter of 2015, as lower oil prices and the Gulf of Mexico disaster continues to weigh on the company. The figure hit $1.31bn, undershooting analysts’ expectations of $1.6bn. Read more: One [...]
IMF tells Eurozone: Learn how to hire and fire July 27, 2015 The International Monetary Fund (IMF) has issued a stark warning to Eurozone leaders, saying the economy is at risk of tipping back into stagnation unless it gets on with reforms to promote competition and make hiring and firing easier. “A moderate shock to confidence—whether from lower expected future growth or heightened geopolitical tensions —could tip [...]
Leaked Yanis Varoufakis parallel currency plan to hack government databases sparks Greek backlash July 27, 2015 Greek politicians demanded answers from Prime Minister Alexis Tsipras yesterday after a leaked recording revealed former finance minister Yanis Varoufakis was planning to hack into government databases to help start a parallel currency. Yesterday, the Official Monetary and Financial Institutions Forum released a recording of the conversation held between him and investors. “We [...]