The changing face of the educational publishing world was in focus at the start of the week as Pearson PLC (LON:PSON) reported quarterly numbers, which disappointed.
Once a huge stalwart of the FTSE 100, the group led the blue chip index lower on a day where fears on Brexit, the UK economy and inflation continue to simmer.
Shares shed 10.75% to 743p as the group, which was highly cited on the web, said underlying sales fell 7% in the first nine months of the year. Analyst had pencilled in a 5% drop.
However, Pearson did reassure to a certain extent, saying cost cutting meant was still on track to meet its profit targets for 2016.
George Salmon, analyst at Hargreaves Lansdown, got the chalk out and said the firm "must do better".
"Having sold off The Economist and The Financial Times, Pearson is now relying on its core educational businesses for forward momentum, but convincing customers to continue paying for its content represents a huge challenge to the group against a backdrop of free educational resources popping up online.
Despite enjoying the benefits of a weaker pound, sales have been falling recently and there was little in today’s update to suggest that the tide is changing," he added.
Also trending was more analysis of the UK economy with a new report from the think tank the EY Item Club saying Britain faces a "prolongued period" of weaker growth as inflation rises and consumer sentiment, which up to now has been quite high, wanes, in the wake of the Brexit vote.
At the same time, the Bank of England's deputy governor Ben Broadbent said that sterling's recent weakness would fuel inflation higher, but that to combat that with tighter monetary policy (raising interest rates) could hit growth and jobs.
Life will “get difficult” for the most vulnerable people in Britain as inflation rises in the coming months https://t.co/b1f3WMo0qH#Brexit
— Nick Reeves - 48% (@nickreeves9876) October 14, 2016
Meanwhile, current well documented market volatility has been cited as the cause of the fintech group Misys cutting the value of its well-publicised float on the London Stock Exchange.
It has become the latest firm to pull an IPO (initial public offering) after markets have become jittery at the prospect of a so-called hard Brexit, where the UK leaves the single market.
As well as shaving over £1bn off the value to get the deal, reportedly, the firm has asked to sell just 20% of the firm, which is less than the 25% normally required for a float.