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August 2012 UK Share Price and Stock Market News Archive
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Vivendi announces drop in profits
31 Aug at 9 AMStory Link: Vivendi announces drop in profits
Vivendi, the French telecoms and media company, has reported a second quarter drop in net profits. The firm has blamed a 46 per cent fall in profits to €619 million on its struggling telecoms division. Revenues are down by 1.5 per cent to €6.96 billion. Because of the trouble it is currently having with its SFR phone unit, the firm said...
Citigroup pays subprime fine to shareholders
30 Aug at 12 PMStory Link: Citigroup pays subprime fine to shareholders
Shareholders in US banker Citigroup have been awarded £370 million because of the subprime disaster which was one of the catalysts for the global financial crisis four years ago. Stockholders in the company believe they were not given enough information about just how exposed Citigroup was to toxic mortgages.
Although the banker has...
Lexmark to close inkjet factory in Philippines
29 Aug at 9 AMStory Link: Lexmark to close inkjet factory in Philippines
A fall in sales of inkjet printers has led to US firm Lexmark announcing that it is to close its factory in the Philippines by 2015, which produces inkjet supplies, as well as ceasing to develop inkjet technology by 2013. The moves are being made as the company seeks ways to improve profitability and will cost around 1,700 jobs.
Paul...
Samsung to challenge Apple patent decision
28 Aug at 10 AMStory Link: Samsung to challenge Apple patent decision
Samsung is gearing up to challenge the recent decision by a US court that the South Korean electronics firm infringed Apple patents. The decision by the US District Court saw shares in Samsung plunge seven per cent as investors fear a revenue slump as products are taken off the market.
Samsung is complaining that the decision of the court...
Samsung guilty of copying Apple designs
27 Aug at 9 AMStory Link: Samsung guilty of copying Apple designs
Samsung has seen its shares drop in value after the electronics firm lost a court battle with Apple which has resulted in a fine of more than $1 billion.
Samsung was found guilty of copying Apple’s designs by a jury in the US. Shares in the South Korean company were down by seven per cent, the heaviest drop since 2008.
The firm has...
US jobless figures hit stock markets
24 Aug at 9 AMStory Link: US jobless figures hit stock markets
An announcement by the US government that the number of jobless was up over the last week has caused stocks to fall. According to the Labor Department, the number of unemployed has risen by 4,000. Experts are worried that this will mean job growth for August has slowed down compared to last month.
The Dow Jones dropped 74 points on the...
Qantas cancels Boeing order as it posts first ever annual loss
23 Aug at 11 AMStory Link: Qantas cancels Boeing order as it posts first ever annual loss
Qantas has posted its first ever full-year loss as it struggles to compete with increased competition and the high cost of aviation fuel. The Australian flag-carrier has also confirmed a cancellation with American manufacturer Boeing for 35 of its new Dreamliner aircraft.
For the year ending in June the airline said it made a A$244 million...
Best Buy reports second quarter drop in profits
22 Aug at 9 AMStory Link: Best Buy reports second quarter drop in profits
Best Buy, the US electronics retailer, has seen the value of its stock fall by four per cent after it published disappointing second quarter results. The firm reported a drop in net profits from $150 million during the same quarter last year to just $12 million in 2012. The company recorded revenues of $10.6 billion for the three months and...
Apple takes most valuable company crown from Microsoft
21 Aug at 9 AMStory Link: Apple takes most valuable company crown from Microsoft
Apple, the computer and gadget designer and manufacturer, has just beaten Microsoft to the crown of most valuable firm of all time. Apple is already the most valuable company on the planet, but with a market value of an estimated $623 billion it has just beaten the previous record set in 1999 by Microsoft of $620.58 billion.
The price of...
Heineken agrees $4.5 billion for Tiger Beer owner APB
20 Aug at 9 AMStory Link: Heineken agrees $4.5 billion for Tiger Beer owner APB
Heineken is likely to take a controlling stake in the producer of Tiger Beer after a deal worth $4.5 billion was agreed with Fraser and Neave for its controlling stake in Asia Pacific Breweries. However, the deal still has to be approved through a vote by the company’s shareholders.
In a statement, Jean-Francois van Boxmeer, Heineken’s...
Facebook sees shares tumble again
17 Aug at 9 AMStory Link: Facebook sees shares tumble again
Shares in social networking giant Facebook fell sharply at the end of the first lock-up period this week. In New York on Wednesday shares dropped in value from $20.74 to $19.87, a fall of 6.27 per cent. The end of the lock-up period meant that more than 270 million shares could be sold on Thursday.
Lock-ups are put in place to prevent...
Sharp shares tank as losses grow
16 Aug at 11 AMStory Link: Sharp shares tank as losses grow
Sharp, the Japanese electronics manufacturer, has seen the value of its stock drop to a 37-year low as analysts fear the firm’s financial losses will grow. Sharp has predicted that its full-year losses will total 100 billion yen.
However Goldman Sachs has forecasted that the figure will be closer to 150 billion yen. Deutsche Securities...
Groupon shares tumble as customer numbers increase
15 Aug at 9 AMStory Link: Groupon shares tumble as customer numbers increase
Groupon, the US voucher provider, has seen the value of its stock drop despite declaring a profit in the last quarter along with increased revenue. However, analysts in New York had expected the company to do much better causing shares to drop by more than a quarter.
Groupon said on Monday that net income had risen to $28.4 million in the...
Private equity group targets Focus Media
14 Aug at 10 AMStory Link: Private equity group targets Focus Media
A private equity group has offered to buy Chinese advertising firm Focus Media. The consortium has said that it is willing to pay $27 per share for the company which was recently embroiled in accusations of accounting fraud. The offer means that the group, which includes Focus Media’s chief executive, has valued the advertiser at around...
Stock markets down in Asia
13 Aug at 10 AMStory Link: Stock markets down in Asia
Stocks are down across Asia as Japan reports a slowdown in growth and China announces exports have not grown as expected. For the quarter ending in June this year the Japanese economy grew by a disappointing 1.4 per cent because of a strong yen and the continuing economic crisis in Europe.
Japan’s growth was down from the previous...
Manchester United cuts share price ahead of NY sale
10 Aug at 9 AMStory Link: Manchester United cuts share price ahead of NY sale
When shares in Manchester United go on sale today on the New York Stock exchange they will be priced at $14 each. When the football club first announced the stock sale it had hoped to be able to attract between $16 and $20 per share.
The lowering of the price suggests that the club was unable to find any buyers and the lowering of the...
News Corp declares $1.6 billion quarterly loss
9 Aug at 9 AMStory Link: News Corp declares $1.6 billion quarterly loss
Rupert Murdoch’s News Corp empire has been forced to announce a loss for the fourth quarter of the financial year of $1.6 billion. This is compared to a net gain of $683 million made for the same three months a year ago. The company has said that the losses are partly to do with weaker profits from the publishing business and partly to do...
Kindest Place enters battle for Asia Pacific Breweries
8 Aug at 9 AMStory Link: Kindest Place enters battle for Asia Pacific Breweries
Heineken may have to revise its bid for a controlling stake in Asia Pacific Breweries after Kindest Place, a Thai firm, said it is prepared to pay S$55 per share in return for a 7.3 per cent stake in the Tiger Beer producer.
The stake is currently held by Fraser and Neave which has a 40 per cent direct and indirect share of the brewer....
Money laundering allegations damage Standard Chartered stocks
7 Aug at 12 PMStory Link: Money laundering allegations damage Standard Chartered stocks
Standard Chartered bank has been accused by the US of laundering billions of dollars of money from Iran over the past decade even though many of the Iranian institutions the bank was dealing with were subject to US sanctions.
According to the New York State Department of Financial Services up to $250 billion has been laundered and...
IAG reports 390 million euro loss
6 Aug at 9 AMStory Link: IAG reports 390 million euro loss
International Airlines Group shares dropped 5.2 per cent on Friday after the Iberia and British Airways owner announced a 390 million euro loss for the half-year ending in June. This is compared to pre-tax profits of 39 million euros for the same period a year earlier. According to the group the losses were mainly due to the problems being...
General Motors reports drop in earnings
3 Aug at 9 AMStory Link: General Motors reports drop in earnings
US car manufacturer General Motors has reported a drop in profits for the last quarter as the debt crisis in the eurozone means that sales in Europe have been sluggish. Net revenue for the three month ending in June was $37.6 billion compared to the $39.4 billion reported for the same period a year ago.
Profits for the quarter were down...
NYSE investigates irregular trading
2 Aug at 12 PMStory Link: NYSE investigates irregular trading
A sharp swing in stock prices has caused the New York Stock Exchange to investigate a spate of irregular trading. Stocks in 140 companies were being traded at higher than normal volumes including American Airlines and Citigroup.
However, trades have only been cancelled in six stocks. The abnormal trading has brought back memories of the...
UBS shares tumble after Facebook debacle
1 Aug at 9 AMStory Link: UBS shares tumble after Facebook debacle
UBS has blamed a loss of 349 million Swiss francs on problems associated with the flotation of Facebook. The Swiss bank is claiming that a mishandling by Nasdaq meant that it ended up with far more shares in the social networking site than it had initially ordered. Facebook shares have tumbled in price following the stock exchange...
