Performance comparison made easy
Investors will find it easier to compare the performance of companies around the world following the culmination of a 12-year project to bring together US and international revenue reporting.
Accounting regulators in the US and Europe on Wednesday published a joint standard on how companies report revenue from contracts with customers.
Eliminating the differences in reporting makes it easier for investors to compare companies in different countries and also removes the risk that some companies are exploiting the varied rules to flatter their bottom lines.
Thieves targeted by phone ‘theftie’
Lookout, a San Francisco-based mobile security company, is launching a product that will send victims a photograph of the thief who snatched their mobile phone.
The “theftie” is triggered when someone enters a wrong passcode, removes the SIM card or turns the device off, and is sent with a map of the device’s exact location to the registered user.
Tesco to report worst trading data
Tesco is poised to report its worst quarterly trading in decades next week, as Britain’s biggest retailer struggles to turn itself round amid an escalating supermarket price war.
Savers forecast to defect to NS&I
Savings institutions will suffer “a stampede” of customers defecting to National Savings & Investments (NS&I) next year because of exceptionally generous products for pensioners promised by the chancellor ahead of the general election, the head of Britain’s biggest building society has warned.
Coe leads chase for BBC Trust chair
Lord Coe is the frontrunner to take over as chairman of the BBC Trust. The former middle-distance athlete and mastermind of London’s 2012 Olympics, is understood to have the firm support of the prime minister.
The Daily Telegraph
Merkel tops Forbes’ women’s list
Angela Merkel has topped Forbes’ list of the world’s 100 most powerful women for the fourth year in row, with the Queen and Vogue editor-in-chief Anna Wintour the only Brits in the ranking.
Tower Hamlets riot warning
A senior adviser to Lutfur Rahman, the extremist-linked mayor of Tower Hamlets, has said there will be street violence unless people stop questioning the manner of his re-election.
The Electoral Commission is to hold an inquiry into polling in the east London borough after dozens of reports of voter intimidation and a chaotic count that took more than five days.
THE WALL STREET JOURNAL
Poroshenko wants time on EU deal
Petro Poroshenko, the winner of Sunday’s presidential election in Ukraine, has told senior European Union leaders he wants some time before committing to a major economic and political deal with the bloc, according to more than half a dozen officials briefed on conversations.
Emerging markets bounce back
Uneven stock indexes and low bond yields in the US, Europe and Japan are pushing waves of investor cash into markets from Brazil to South Africa that suffered big losses as recently as this past winter.