Amazon Shares Soar as it Shatters Wall Street Forecasts

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GENERAL

Shop prices fall further in October despite fashion recovery - UK shop prices fell further into deflation in October, new figures show, but there were some signs that inflationary pressures might recover in the months ahead. Shop prices fell 0.8% in the year-to-October, down from 0.6% the previous month. This put price pressures among food stores and retailers at its lowest level since August 2021.

Britain’s households rake in record ￡31m from solar panels - British households made a record ￡31m from rooftop solar panels last year following a surge in installations. Energy providers paid out ￡30.7m to 283,666 households that exported renewable energy back to the grid. It comes as Ed Miliband pursues a “rooftop revolution” to triple Britain’s solar power generation. The Energy Secretary has called solar panels a “win-win technology”.

ON?THE?UP?

特易购公司 set to return ￡700m as completes bank sale to Barclays -?The deal with the UK lender, part of Barclays plc, had been announced earlier this year in February, and will see Barclays paying around ￡600m for Tesco Personal Finance Ltd, which has been in operation for more than 25 years.?

亚马逊 shares soar as it shatters Wall Street forecasts - Amazon’s shares jumped over 6% in after-hours trading after the e-commerce giant breezed past third quarter expectations. The boost from investors would lift the Seattle-headquartered company’s market cap, which currently stands at $1.95t, beyond the $2t mark. It posted quarterly revenue of $158.9bn (￡123.3bn), beating analyst predictions of $157.2bn (￡121.9bn), and a year on year rise of 11%.

Aston Martin Lagonda Ltd slashes loss by over ￡100m - Aston Martin slashed its pre-tax loss by 90% during its latest financial period after being boosted by a rise in its wholesale volumes. The Warwickshire-headquartered luxury car maker has reported a pre-tax loss of ￡12.2m for its third quarter, down from the ￡117.6m loss it posted during the same three-month period in 2022. New figures filed with the London Stock Exchange also show that Aston Martin’s revenue increased by 8% to ￡391.6m over the same period.

Next predicts ￡1bn profit after cold weather boosts sales - Next has upgraded its profit forecast for the year to over ￡1bn after better-than-expected sales in its third quarter. The FTSE 100 retail giant, which is headquartered in Leicester, has upgraded its guidance from ￡995m to ￡1.005bn. In an update to the London Stock Exchange , Next said full price sales in the three months to 30 October were up 7.6% on last year, 2.6% ahead of guidance for the quarter.

Majestic Wine ties up with Just Eat Takeaway.com for speedy delivery - Majestic has partnered with rapid delivery firm Just Eat to expand its on-demand offer amid soaring demand. Customers can now order from hundreds of its wines, including Champagne, Sparkling, Bordeaux, Loire, along with bottles from Italy, New Zealand, Australia, its own-label Chosen By Majestic and Definition By Majestic wines. Its fast expanding range of premium spirits and beers are also available through the Just Eat app, with deliveries in as little as 30 minutes.

Royal Caribbean Group third-quarter results exceed expectations - Total revenues reached $4.9bn and adjusted EBITDA, a measure of profit, reached $21bn for the quarter, along with a load factor of 111%. The performance was attributed to stronger pricing on “close-in”, or late demand, continued strength in revenue and lower costs.

bp beats estimates despite lower oil prices - FTSE 100 oil giant BP has reported strong-than-expected earnings for the third quarter. It posted an underlying replacement cost profit, used as a proxy for net profit, of $2.3bn for the three months to 30 September. The figure beat analyst expectations of $2.1bn. However, the figure was worse than the $2.8bn profit reported for the second quarter of 2024 and far below the $3.3bn reported for the third quarter of 2023.

Trainline sales continue to rise amid rail nationalisation fears - Trainline has hiked its forecasts after a strong start to the second half of the year as demand for digital rail tickets continues to grow, sending shares up 10.6%. The British train ticket seller said it now expects total sales growth between 12-14%, compared to the 8-12% it previously predicted. It also revised revenue guidance upwards to between 11-13%, compared to a range of 7-11% growth before.

IN THE DOLDRUMS

英特尔 Posts $16.6bn Quarterly Loss, Its Biggest Ever - The?56-year old company, onetime highflying chip maker, struggles to turn itself around. The Silicon Valley company said its loss for the third quarter totaled $16.6bn, a result of $15.9bn in charges to reflect lowered valuations of company assets and a $2.8bn restructuring charge associated with cutting more than 15,000 workers.

Selfridges losses double despite sales hike - Filings for Cambridge Retail Group Holding, which is owned by Central Group and Saudi Arabia’s Public Investment Fund, showed pre-tax loss hit ￡340m for the year to 3 February, compared to ￡126m losses the year prior.

VW profits plunge 64% following ‘intense competition’ in China - Volkswagen bosses have stressed the “urgent need” for drastic cutbacks after the car giant’s quarterly profits slumped by 64%. Europe’s biggest automotive company blamed weak Chinese sales for the sharp drop in post-tax profits, which fell from €4.3bn (￡3.6bn) a year earlier to €1.6bn in the three months to the end of September. It comes as executives prepare for another round of difficult talks with unions over proposals for factory closure, mass lay-offs and pay cuts.?

Thames Water launches ￡3bn emergency fundraising drive - The drive is to help pay off some of the struggling utility’s large debt pile.?The water company has just ￡500m in cash, and hopes the new money will extend its ability to function for at least another year.?Thames Water said that the money will allow the firm “to continue with the planned investment and maintenance of our infrastructure in order to continue to meet customers’ needs, and our environmental responsibilities”.

ONES TO WATCH

Saudi Arabia’s start-up airline places ￡6bn plane order in challenge to Gulf rivals - Riyadh Air | ????? ?????? has lodged a mammoth $8bn (￡6bn) aircraft order as it ramps up efforts to take on established Middle Eastern carriers such as Emirates . The Saudi Arabian start-up airline, which is bankrolled by the Saudi state, has struck a deal to buy 60 A321neo short-haul jets from Airbus. This is in addition to an earlier agreement for 39 Boeing wide-bodies announced last year, which includes the option for another 33.?

White Stuff snapped up by Hobbs London owner TFG - TFG (The Foschini Group) , which owns Hobbs, WHISTLES and Phase Eight , has acquired White Stuff. The group confirmed it will be retaining the fashion retailer’s senior leadership team, led by CEO Jo Jenkins, and all its colleagues across the business. As part of the transaction, White Stuff founders George Treves and Sean Thomas will both step down from the board and leave the fashion retailer.

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