Ryanair investors will reap €400m in spoils from sale of Aer Lingus September 25, 2015 Ryanair announced at its AGM yesterday it would be sharing the €398m (£293m) spoils from the sale of its Aer Lingus stake with shareholders. Ryanair agreed to sell its 29.8 per cent stake in the Irish airline to International Airlines Group, which owns British Airways and Iberia, this summer. The budget airliner also said it [...]
Leaked document suggests government looking into privatising Channel 4 September 24, 2015 Leaked documents suggest that the government is looking into privatising public broadcaster Channel 4. Papers being carried by an unidentified individual walking towards Number 10 Downing Street said: "In your recent meeting with Matt Hancock … extracting greater public value from the Channel 4 Corporation, focusing on privatisation options in particular whilst protecting …" Channel [...]
Marks and Spencers looking to sparkle with new lingerie and womenswear designer September 24, 2015 Marks and Spencers yesterday announced the appointment of its first director of design for womenswear, lingerie and beauty. The appointment of Queralt Ferrer, a former Inditex executive, is part of an attempt by Steve Rowe, the retailer’s new head of its non-food businesses, to revive the fortunes of M&S’ flagging women’s department. Ferrer will report [...]
Nike profit rises as sales of higher-margin products jump September 24, 2015 Sportswear giant Nike yesterday posted better-than-expected earnings and revenue, sending its share price up. On the back of selling more high-margin basketball shoes and clothing, Nike net income rose to $1.18bn (£774m), or $1.34 per share, in the first quarter ended 31 August, from $962m, or $1.09 per share, a year earlier. Revenue rose 5.4 [...]
VW emissions scandal: Reduced emissions come at a price – if we aren’t prepared to accept this, we must expect more scandals like Volkswagen’s September 24, 2015 The scandal that has engulfed Volkswagen over the measurement of oxides of nitrogen has been held up as yet another example of large companies pursuing profitability by dubious means at the expense of the rest of the population. But this is an oversimplification. We want the best of all worlds, and messages from government try [...]
Glencore’s share price falls further as commodities rout makes giant FTSE 100’s biggest loser – again September 24, 2015 Glencore’s woes aren’t over yet, as the commodities firm’s share price plunged anew today, making it the FTSE 100’s biggest loser for the second day this week. Worries over China’s economic slowdown have been pushing the price of raw materials sharply down, and the commodities rout is taking its toll on Glencore, which is the [...]
Volkswagen emissions scandal: Fitch threatens VW with downgrade over car pollution catastrophe September 24, 2015 Credit ratings agency Fitch has placed Volkswagen on "negative watch" until the full scale of the emissions scandal that's engulfing the carmarker becomes clearer. "The rating action reflects the reputational damage on the group's brands following alleged manipulation of emission tests in the US and the expected multi-billion euros financial impact from potential fines, recall [...]
Apple iPhone 6s launch: Pope Francis visit to the US to delay deliveries of new smartphone in Washington, New York City and Philadelphia September 24, 2015 Unwitting Apple customers, eagerly awaiting the arrival of their brand new iPhone 6s on Friday, may just have to wait a little bit longer after a bigger arrival to the US: Pope Francis. The Pope's security arrangements are – as one would expect – going to block up the streets, causing major disruption. And not [...]
Mobile operators hit back at Ofcom plans to increase fees, claiming they threaten to increase consumer prices and hinder investment September 24, 2015 Mobile phone users could witness their bills increasing after Ofcom tripled fees for operators to use certain airwaves, providers have warned. The charge relates to the fees mobile operators Vodafone, O2, EE and Three pay for licences to provide 2G, 3G and 4G services and will come to a total of £199.6m each year, up [...]
Mining giant BHP Billiton share price jumps after dividend changes proposed to ensure payout to British investors September 24, 2015 Anglo-Australian mining giant BHP Billiton's share price climbed this morning, after revealing changes to its dividend funding policy to ensure British shareholders' dividends are paid out. The company is planning to change which funds are transferred between the Australian-listed company to the UK's plc arm, allowing it to meet its dividend requirements to its British [...]