Pearson shares fall 30% on profits and dividend warning

Shares in the international publishing group Pearson fell nearly 30% after the company warned of a big fall in sales in its US education business. The company said profits for 2017 could drop by £60m and it would cut its dividend for shareholders. “The education sector is going through an unprecedented period of change and volatility,” More...

by subhadip | Published 2 months ago
By subhadip On Thursday, January 19th, 2017
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Trump rally powers Goldman Sachs and Citigroup profits

The stock market rally that followed Donald Trump’s surprise presidential victory helped Goldman Sachs profits to soar in the three months to December. The US investment bank posted net profit of $2.15bn More...

By subhadip On Thursday, January 19th, 2017
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BHP Billiton and Vale set timeframe for Samarco mine claims

BHP Billiton and Vale have agreed a deadline of 30 June to consolidate and settle claims resulting from Brazil’s Samarco dam disaster in 2015. The biggest is a $47.5bn (£38.6bn) civil claim brought by Brazil’s More...

By subhadip On Thursday, January 19th, 2017
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London will remain ‘financial lungs’ of Europe, says Jes Staley

London can breathe easy – it will continue to be the financial lungs of Europe, according to Barclays chief executive Jes Staley. While he admits the bank may have to move some activities to bases in Dublin More...

By subhadip On Monday, January 9th, 2017
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Apple is setting up shop in Samsung territory

Apple is moving into arch rival Samsung’s backyard. The U.S. tech giant announced plans on Friday to open its first retail outlet in South Korea. The store will be located in Seoul, which is also Samsung’s More...

By subhadip On Monday, January 9th, 2017
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Amazon worth more than Sears, Macy’s and Target combined

Did you buy nearly all your presents for the holidays at Amazon? I did. And I must not be alone. Jeff Bezos is the new Santa Claus. But to the rest of retail, Bezos is the evil Krampus that’s punishing them More...

By subhadip On Monday, January 9th, 2017
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Boeing sales decline despite late buying spree

It’s getting harder out there for a jet salesman. Boeing (BA) raked in 668 orders in 2016, down 13% from 2015. The full-year order tally, released Friday, fell from the 768 new orders it won in 2015. The More...

By subhadip On Thursday, January 5th, 2017
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UK car sales at record high in 2016

The number of new cars sold in the UK hit an all-time high in 2016. The Society of Motor Manufacturers and Traders (SMMT), said 2.69 million cars were registered last year, 2% higher than in 2015. The industry More...

By subhadip On Thursday, January 5th, 2017
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Apple rewards developers as App Store sales soar

An insatiable desire by gamers to jump to the next level generated record revenues for App Store developers in 2016, according to Apple. Developers who sell their apps through Apple earned a record $20bn in 2016, More...

By subhadip On Tuesday, January 3rd, 2017
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UK manufacturing on ‘strong footing’

Activity in the UK’s manufacturing sector hit a two-and-a-half-year high last month, according to a survey. The Markit/CIPS purchasing managers’ index (PMI) for the sector rose to 56.1 in December More...