FirstGroup’s share price drops on profit warning January 28, 2016 FirstGroup's share price fell more than five per cent this morning after the transport operator issued a profit warning on the back of major flooding in the north of England. The figures Revenues in the third quarter fell by 9.5 per cent on a constant currency basis, on the back of changes to its rail franchise portfolio and [...]
Japanese economy minister Akira Amari resigns after denying bribery allegations January 28, 2016 Japanese economy minister Akira Amari has stepped down after he was accused of receiving bribery from a construction company. The BBC reported Amari told a news conference: Japan is finally emerging from deflation … We need to pass legislation through parliament for steps to beat deflation and create a strong economy as soon as possible. Anything [...]
Diageo profits hit by foreign exchange rates but beats expectations with a rise in organic sales January 28, 2016 Diageo reported a 1.8 per cent rise in sales in its half year results to the end of December 2015. The drinks giant owns the Johnnie Walker, Smirnoff, Baileys and Tanqueray gin brands, to name a few. Diageo shares fell 0.75 per cent to 1,854.50p in early trading. The figures Organic sales grew 1.8 per cent, and there was [...]
Dixons Carphone deputy chief executive Andrew Harrison to join Ocado board January 28, 2016 Dixons Carphone deputy chief executive Andrew Harrison is joining the board of Ocado, bolstering the business' retail skills further. Harrison will join as an independent non-executive director on 1 March. His appointment comes at an interesting time for the business, which is rumoured to be in talks about a tie-up with Amazon – rather than go [...]
Deutsche Bank ‘s share price slides as Germany’s biggest lender records full year loss of €6.8bn – more than forecast January 28, 2016 Deutsche Bank's share price fell this morning after Germany's biggest lender reported its first annual loss since 2008 – a figure even bigger than was expected. The figures The German lender has posted a full year loss of €6.8bn (£5.1bn) – more than the €6.7bn that had been trailed – with fourth quarter losses of €2.1bn. Litigation charges [...]
How Tyrrells aims to be the big cheese (and onion) of the crisp world January 28, 2016 Six years ago, David Milner received a phone call from private equity firm Langholm Partners, the former owners of Tyrrells Crisps. They needed help. After an eight-year growth spurt, sales at the posh crisp brand had turned rather stale and Langholm wanted the former Mars and Campbell’s Soup executive on board. “The first thing I [...]
Bank shares overvalued as Eurozone leans on Germany and France struggles January 28, 2016 Most European bank shares are overvalued, according to more than half (54 per cent) of UK fund managers polled by accountancy giant EY. German banks managed to buck the trend however, with two-thirds of managers polled believing them to have the best growth prospects in Europe. On top of that, 80 per cent rated the [...]
Libor scandal: Serious Fraud Office has “serious questions” to ask itself after five of six brokers accused of rigging Libor acquitted on counts of conspiracy to defraud January 28, 2016 Five brokers accused of conspiring with Tom Hayes to fix Libor were acquitted yesterday, dealing a blow to the Serious Fraud Office's clampdown on financial misconduct. A jury at Southwark Crown Court acquitted Colin Goodman and Danny Wilkinson, who both used to work at ICAP, Noel Cryan, formerly of Tullett Prebon, and Terry Farr and James [...]
Google tax: European Commission sets out new proposals to crack down on tax avoidance January 28, 2016 The European Commission will today put forward new proposals to crack down on tax evasion and avoidance, as UK politicians continue to spar over Google’s tax payments. Pierre Moscovici, the EU commissioner for economic and financial affairs, taxation and customs, is expected to lay out a series of legally-binding measures intended to close loopholes in [...]
Household spending power slows to 14-month low, Asda income tracker shows January 28, 2016 The average household income grew at its slowest rate in 14 months, a new survey has found, due to a slowdown in wage growth and a slight increase in inflation. According Asda's Income Tracker published today, consumers were £13 – or 7.2 per cent – better off year-on-year in December with an average of £194 of [...]
