Volkswagen told to recall almost 500,000 vehicles over emissions September 18, 2015 Volkswagen has been ordered to recall nearly half a million cars in the US by the Obama administration, which claims the German car group used software that was purposely designed to dodge environmental standards for reducing smog. The US government's Environmental Protection Agency issued the company a notice of violation this afternoon, accusing Volkswagen of [...]
Legal & General staff vote to strike over 1,700 potential job cuts at Kingswood, Surrey headquarters September 18, 2015 Legal & General staff have voted for strike action over the threat of 1,700 job cuts at the group's headquarters in Kingswood, Surrey. In total 68 per cent of L&G's Unite members at the hub took part in the vote, with 63 per cent voting in support of taking industrial action. However action may be [...]
Why the Rugby World Cup’s economic impact is nothing to get excited about September 18, 2015 The economic benefits of international sporting tournaments to national economies have been loudly trumpeted, not least by sporting bodies themselves. Whilst UK investors might witness some short-term movement in the markets following the Rugby World Cup, history suggests that the true lasting value on the UK economy is likely to be limited. Yes, the [...]
Switzerland, UK and the Netherlands among the world’s 10 most innovative countries September 18, 2015 Switzerland has been named the most innovative country in the world is for the second year in a row. It was followed by the United Kingdom (UK), Sweden, the Netherlands, and the United States of America (USA) as the world’s five most-innovative places on the planet, according to an index published by a United Nations [...]
Apple wins patent ruling against Samsung which could put Galaxy devices’ slide-to-unlock and autocorrect at risk September 18, 2015 Apple just won another victory in its patent war against rival Samsung, which could force the Korean tech giant to stop using certain features in its devices. The row between the world-leading smartphone manufacturers stems from the slide-to-unlock feature, quicklinks and autocorrect. Apple argues that Samsung stole these features, and the courts have once again [...]
Apple wins patent appeal against Samsung over autocorrect, unlocking and linking features September 18, 2015 Apple has potentially won the right to stop Samsung selling phones that used its technology without proper permission. Although Apple had already won the case back in 2014, it appealed the decision in which it was awarded $120m (£76m) in damages, but that Samsung did not have to stop selling the devices that use the [...]
Worldpay confirms intention to float on the London Stock Exchange September 18, 2015 Payments processing company Worldpay has confirmed plans to raise £890m through a float on the London Stock Exchange's main market in October. The company, owned by Advent International and Bain Capital, is expected to have a free float of at least 25 per cent after its listing. "The IPO is an exciting and logical next [...]
Australia throws spanner in the works for Shell’s takeover of BG Group September 18, 2015 Australian regulators have voiced concerns about Royal Dutch Shell's takeover of rival BG Group, due to the potential impact on domestic gas supplies. In a statement today, Rod Sims, chairman of the Australian Competition and Consumer Commission (ACCC), claimed the deal was not in the best interests of Australian consumers, as it might result [...]
Oktoberfest 2015 price hike: How much more beer at Munich festival costs this year September 18, 2015 The world's largest beer festival, Oktoberfest in Munich, kicks off for the 182nd time tomorrow. Unicredit analysts have crunched the numbers to find out how much more a Maß – the Bavarian word for a litre of beer that comes in one of those huge, dimpled glass mugs – will cost punters this year. One Maß costs about €10.2 (£7.48) compared [...]
Fed up markets down? It’s about funding not rates September 18, 2015 Global markets were sent into a tailspin yesterday after the Federal Reserve held fire on interest rates amid fresh concerns over the Chinese economy and emerging markets. But market mavens should be paying attention to funding, rather than interest rates. It’s frequently said and not always in jest, that the credit markets are smarter than the stock [...]