Samsung hit profit high for last quarter

Samsung, the world’s largest smartphone producer, is set to see operating profit soar after the success of its Galaxy S7 model.

The company is expected to announce that its operating profit has reached 6.6 trillion Korean won for the January – March period, up from 6 trillion won in the same period last year.

Competition from cheaper Chinese rivals such as Xiaomi and Huawei have put premium retailers such as Samsung and Apple under pressure of late, but these figures are a sign that Samsung are fighting back.

Marks and Spencer see further decline for clothing arm

Marks & Spencer have released their first trading statement with their new CEO Steve Rowe at the helm, showing that he has his work cut out to turn the struggling retailer around.

Clothing sales fell again in the fourth quarter, adding to the past five years of almost constant falling figures. Sales were down 1.9 percent for clothing and home – however, saw an increase of 8.2 percent from products bought online.

Rowe commented: “Turning around our Clothing and Home business by improving our customer offer is our number one priority.”

“Although the sales decline in Clothing and Home was lower than last quarter, our performance remains unsatisfactory and there is still more we need to do.”

Sales from its food division remained strong, growing market share to 4.3 percent and continuing to outperform the market.

House prices rising fast, says Halifax

British house prices rose at their fastest pace for seven months in March, according to mortgage lender Halifax.

Price growth on an annual basis has been hauled back into double figures for the first time since mid-2014, with house prices rising 2.6 percent in March after a 1.5 percent drop in February.

07/04/2016