UBS says buyout of Credit Suisse is an “emergency rescue” Credit Suisse’s share price had plummeted, with market indicators pointing to collapse or resolution European and UK bank stocks slumped again on Monday morning after the weekend deal by the Swiss National Bank to fold Credit Suisse (US:CS) into UBS …
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Interim pre-tax profit falls 54 per cent to £4.3mn on flat revenue of £63.1mn Lower production in PGM and copper operations due to power and water supply issues Copper production guidance cut due to delayed ramp-up of Roan Concentrator Below par interim results from Jubilee Metals (JLP: 7.4p), an Aim-traded mining …
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Welcome to the week ahead, our summary of the forthcoming key company announcements. Companies are no longer obliged to notify the London Stock Exchange (LSE) of results and trading updates, so this list does not claim to be comprehensive. You can read company announcements at http://announce.ft.com and our daily online …
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Wag Payment Solutions (WPS) sells fleet management software to trucking companies. A concern from an investment angle is that the haulage industry is particularly cyclical, so the slowdown in European economies will limit Wag’s growth this year. But there is now also a concern linked to rising debt, with the leverage …
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Potential takeover of Sainsbury’s Some unexpected share buying activity has raised the prospect of a takeover of J Sainsbury (SBRY). Wholesaler Bestway has acquired 81mn shares in the supermarket, which represents 3.45 per cent of its total share capital. The Costcutter owner said that “it is not considering an offer …
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Companies Vodafone boss resigns Vodafone (VOD) chief executive Nick Read has resigned after four years in the job, after the telecoms giant downgraded its full-year profit and cash flow guidance last month. CFO Margherita Della Valle will take over as interim boss once Read leaves at the end of December. …
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Operating costs haven’t budged More strikes planned for November The parent company of Royal Mail has blamed weak parcel volumes, strike action and faltering productivity for a hefty operating loss, and has repeated plans to cut 5,000 full-time roles by next spring. Revenue at International Distributions Services (IDS) only decreased …
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Companies Massive savings but uncertainty ahead as energy cap limited to six months The government will be hoping that gas prices stay subdued despite months of warnings of winter shortages, after it cut back the scope of the energy price cap significantly. New chancellor Jeremy Hunt said the policy would …
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Up to 6,000 redundancies expected Strikes blamed for rising losses Royal Mail has warned that it could swing to a loss of up to £450mn and be forced to axe as many as 10,000 jobs, in response to “damaging” industrial action. The postal service – which has reinvented itself as …
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Royal Mail is losing £1mn per day Parcel and letter volumes are falling Royal Mail’s (RMG) latest trading update is a litany of woes. Divisional revenue is down by 11.5 per cent, its cost saving plan has stalled, it is losing £1mn a day, retail trends are weakening, and parcel …
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