Welcome to the weekly edition of What’s Hot In Stock Market News. To help you stay up to date with Shares and Stock Markets, here are some of the news items that caught my attention this week.
What’s New This Week?
Qantas CEO: I’ve Got The Backing Of The Board: Alan Joyce, CEO of Australia’s struggling flag carrier, told CNBC he believes his job is safe, a day after Qantas (AU: QAN) announced a hefty pre-tax loss and plans to slash 5,000 jobs.
RBS Shares Fall After Biggest Loss Since Financial Crises: Shares in Royal Bank of Scotland (LSE: RBS) have fallen sharply after the troubled company reported its biggest annual loss since being rescued by the UK government during the financial crises.
Can Mothercare Be Reborn?: Parenting shop Mothercare (LSE: MTC) has been a key feature of the UK high street for the living memory of many of its prospective customers, but in recent years the business has been struggling. The resignation of chief executive Simon Calver this week was the latest in a series of challenges for the retailer.
United Sees Revenue Cut As Storms Erase 22,000 Flights: United Continental Holdings Inc (NYSE: UAL) said winter storms that forced the cancellation of more than 22,500 flights will erode a benchmrk revenue gauge this quarter at the worlds second-largest airline.
Pearson Plunges As Earnings Drop On Education In North America: Pearson Plc (LSE: PSON) fell as much as 8 percent after saying it wouldn’t emerge from a difficult transition period until 2015 after earnings plunged last year on weak demand in U.S. higher education and restructuring costs.
Speedyhire To Take £4.8 Million Charge Due To Accounting Fraud: British construction equipment rental company Speedyhire (LSE: SDY) said accounting irregularities at its international division will result in a charge of 2.7 million pounds against earnings for the year ending March 31.
Currency Swings And Ad Competition Hit WPP’s Shares: Fierce competition in the global advertising industry forced Briatin’s WPP (LSE: WPP) to lower its profit guidance for 2014 on Thursday, wiping more than a billion pounds off its share price and overshadowing its improving trading throughout 2013.
Mining Stocks Extend Losses On China Concerns: London-listed mining shares fell further on Tuesday to record their biggest one-day slide in six months on lingering concerns that slower growth and lending curbs on the property sector in China would hurt metals demand.
Western Union Faces Probe For Fraud-Induced Money Transfers: Money-transfer company Western Union (NYSE: WU) is being probed by the Federal Trade Commission and a U.S. district court over fraud-induced money transfers, the company said in a regulatory filing on Monday.
Volkswagen Shares Drop On Profit Outlook, Scania Bid: Volkswagen’s (DE: VOW) drive to strengthen its trucks business spooked shareholders Monday, who baulked at a generous 6.7billion Euro (£5.5 billion) offer to buy the rest of Sweden’s Scania, as well as the carmaker’s cautious 2014 outlook.
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