Market News
Google Inc. Revenues $14.42 Billion For 2012
Google Press Release - http://investor.google.com/earnings/2012/Q4_google_earnings.html MOUNTAIN VIEW, Calif. – January 22, 2013 – Google Inc. (NASDAQ: GOOG) today announced financial results for the quarter and the fiscal year ended December 31, 2012. “We ended 2012 with a strong quarter,” said Larry Page, CEO of Google. “Revenues were up 36% year-on-year, and 8% quarter-on-quarter. And we... Stock market news »
Sainsbury’s Hopes For An Independent Bank
Sainsbury’s Bank is currently a 50:50 partnership with Lloyds Banking Group. Sainsbury’s were the first British supermarket to open a bank (on 19th February 1997) and also the first to offer mortgages (my first mortgage was with Sainsbury’s in 1999 – I was only planning to buy the weekly groceries and ended up with a... Stock market news »
Rentokill Initial Sell Off City Link for £1
City Link, the courier company owned by Rentokill Initial, has been sold to Better Capital for £1. City Link was running at a loss for 5 years and fell into debt. However, in the first 3 months of 2013 businesses started to improve. Better Capital have said that they will now invest £40 million... Stock market news »
Topsy Turvy Stock Market: Retail Up, IT Down
Share prices in Marks and Spencer have risen this morning. During the first 30 minutes of trading M&S gained by 8.8%. There have been rumours of a forthcoming takeover bid for the British retail giant and this has sparked interest in the stock. Latest: at 11.49a, M&S has risen again and is now at... Stock market news »
Tata Announce Major Job Cuts In The UK
Tata Steel has announced that around 900 jobs will be cut from Tata. Tata is closing 12 sites and Wales suffer the most. It is understood that 584 jobs going in Wales. White collar management staff in Port Talbot going too. Staff were asked to reduced their hours during the summer to help save... Stock market news »
Comet May Fall Into Administration – 6000 Jobs On The Line
Comet, the electronics retailer, is on the brink of going into administration. Comet is currently owned by OpCapita, a private investment company, who paid just £2 for the company last year. According to Andrea Felsted, reporting for the Financial Times earlier today, Comet has already spoken with Deloitte who will probably be the administrators.... Stock market news »
Premier Foods Sell Branston Pickle to Japan
Premier Foods as sold Branston Pickle to a Japanese company to help pay off its debts. Mizhan is paying £92.5 million for the brand. Mizkan UK Ltd is currently one of the biggest makers and suppliers of vinegars in the UK, so a move into the pickle market is not too surprising. This is not the... Stock market news »
UBS Close Fixed Income Business and Slash 10,000 Staff
UBS AG has announced plans to close down its fixed income (bonds investments) unit with the loss a staggering 10,000 jobs worldwide. The money and bond markets traditionally have always seen the largest daily investments, much larger than the stock and shares markets. UBS’ decision to move out of this sector is surprising, and... Stock market news »
Virgin Loses The West Coast Rail Contract To FirstGroup
Richard Branson’s Virgin Trains company has lost its contract for the West Coast Rail, ending its 15 year partnership. Richard Branson is livid, saying that the coalition government’s decision is “insane” and that the bidding system is totally flawed. FirstGroup put in a £5.5 billion bid, which Branson believes will lead to “almost certain bankruptcy”.... Stock market news »
Marks & Spencer Announce Sales Drop and Change of Management
Marks & Spencer has announced today that the last 3 months saw sales fall. In the 2nd quarter of 2012 sales fell by around 2.8%. It blames the weather with heavy rain disrupting the supply chains and keeping customers away from the high streets. However, John Lewis and Debenhams who both share the same... Stock market news »
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