Glencore’s marketing business FY earnings to surpass $3.2bn, says mining giant boss October 29, 2021 Glencore’s marketing business has lifted its full year adjusted earnings forecast to exceed $3.2bn, the mining giant’s CEO Gary Nagle said in the firm’s third quarter production update. Shares dipped 0.8 per cent to 356.4p per share during early trading. It follows Glencore’s recovery from reduced production as global energy markets have begun to rebalance [...]
Millions face swelling mortgage bill as lenders brace for rate hike October 29, 2021 Households across the UK face swelling mortgage costs on top of higher tax bills and an increasing cost of living. Several of Britain’s big players in the mortgage market lifted interest rates on their products immediately after the budget this week in anticipation of a looming rate hike from the Bank of England. HSBC, Barclays [...]
Marshmallow: The unicorn that’s anything but fluff October 29, 2021 IT’S NICE to have everybody together again, at least some of the time,” says Oliver Kent-Braham, one of the understated pair at the top of one of Britain’s newest unicorns, as he guides me through their clean, airy and now once-again buzzing Old Street office. Like most companies, the pandemic forced Oliver and his brother [...]
Confidence in property market goes up despite end of Stamp Duty holiday October 29, 2021 UK buyers are increasingly becoming more positive when it comes to the property market, despite the Stamp Duty holiday coming to an end at the end of last month. Data from OnTheMarket’s property sentiment index revealed that, within the next three months, 74 per cent of active UK buyers firmly believed they would buy a [...]
Apple results: Shares dive after tech giant misses expectations October 28, 2021 Apple saw record revenues of $83.4bn (£60bn) in the three months to September but a failure to live up to analyst expectations saw the firm’s shares plummet five per cent almost immediately. Revenues, though up 29 per cent year on year, were around a billion-dollars shy of Wall Street’s consensus expectations of $85bn, with earnings-per-share [...]
Airbus’s performance prompts increase in full-year guidance October 28, 2021 Airbus’s third quarter results performed better than expected, prompting the company to increase its full-year guidance for 2021 to 600 commercial aircraft deliveries and an EBIT Adjusted of €4.5bn. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance,” said Airbus’s chief executive Guillaume Faury. “We are strengthening the balance sheet [...]
Amazon posts another jump in sales but warns of ‘billions’ of additional Q4 costs October 28, 2021 Amazon has warned investors it is expecting to incur “several billion dollars of additional costs” due to labour shortages, increased wage costs and global supply chain issues. The firm posted third quarter sales of $110.8bn (£80bn) in the three months to end of September, a 15 per cent jump year on year. Amazon said the [...]
Treasury makes £1.5bn from pandemic stock market frenzy October 28, 2021 Next year, the Treasury is expected to make £1.5bn from stamp duty taxes on shares, as a result of the pandemic stock market frenzy, which saw many first-time investors put money into the market, the Evening Standard reported. While this year duty taxes on shares were £800m higher than £3.4bn that was initially forecast by [...]
Hello Meta: Zuckerberg announces Facebook’s new name October 28, 2021 Facebook’s chief executive Mark Zuckerberg announced in his keynote address that the company starting today will be called Meta. “Facebook is one of the most used products in the history of the world and it’s an iconic social media brand but increasingly it just doesn’t encompass everything that we do,” Zuckerberg said. “I want to [...]
Top Dog: Shiba Inu takes on Dogecoin after it cracks top 10 October 28, 2021 Shiba Inu coin has blasted its way into the top ten crypto currencies with a market cap of $40bn, briefly surpassing rival meme-coin Dogecoin. Shiba Inu’s price has exploded this year, up by 83m per cent in the past 12 months and 147 per cent just this week to make it the world’s tenth largest [...]