Who is the richest person in China? Alibaba’s Jack Ma tops new list September 23, 2014 Alibaba founder Jack Ma is now the richest man in China – but he still falls outside the list of the world's 10 richest people. A report published today puts the 50-year old founder of Alibaba Group Holding in pole position among China's wealthiest for the first time, after the ecommerce giant's record breaking [...]
Uber taxi app could face fresh crackdown under a Labour government September 23, 2014 Taxi app Uber could face a much more hostile regulatory and tax regime if a Labour government is elected in 2015. Speaking at a fringe event hosted by the New Statesman at the Labour conference, shadow transport secretary Mary Creagh said her party would not tolerate "tax avoidance on a large scale" adding that Uber's [...]
Ex Pimco chief exec Mohamed El-Erian: “If I’d known about the media circus, I would’ve done things differently” September 23, 2014 Mohamed El-Erian has said he would have treated his departure from Pimco "differently" if he'd known "there would be this media circus". The mega-investor's former chief executive and co-chief investment officer stepped down in January. Until then, he was widely regarded as the heir apparent to Bill Gross, Pimco's co-founder and other co-chief investment officer. In [...]
David Cameron and Hassan Rouhani come face-to-face to discuss Islamic State September 23, 2014 Prime Minister David Cameron and Iranian president Hassan Rouhani are meeting in person for the first time ever to discuss Iran's role in fighting the Islamic State (IS). Meeting later in New York, it is thought Cameron will use the opportunity to persuade Rouhani Iran should join action against IS militants. No British prime [...]
Tesco loses more market share as supermarket sector slows to record low September 23, 2014 Growth in the supermarket sector has slowed to an all-time low, with Tesco once again losing market share to Asda, Aldi and Lidl. The troubled supermarket, which yesterday revealed a £250m black hole in its profits, saw its market share drop 4.5 per cent in the 12 weeks to September 14. During the [...]
Tesco share price slides a further 5 per cent despite early start of finance boss Alan Stewart September 23, 2014 Shares in Tesco slipped a further five per cent this morning as the supermarket continued to feel the fallout from serious accounting errors uncovered yesterday. Investors failed to be reassured by news that new finance chief Alan Stewart has been parachuted in two months early from his garden leave at M&S to steady the ship. [...]
No more UK house price bubble? Mortgage approvals fall to a 12-month low in August September 23, 2014 This could be the end of the house-buying frenzy of early 2014. New mortgage approvals hit their lowest since September last year in August, figures by the British Banking Association showed today, with just 41,588 new mortgages approved during the month, down from 42,715 in July, and 14.1 per cent lower than January's 76-month high [...]
Tate & Lyle share price plummets following profit warning September 23, 2014 Tate & Lyle's share price has plummeted 17 per cent in early trading after company sliced its profit outlook for the year. It's a bitter pill to swallow for the foods group, whose Splenda sweetening business is struggling with intense competition and falling prices of sucrose. The company's expected profit for the year had been [...]
BHP Billiton and Mitsubishi share prices bumped up by coal mine job cuts September 23, 2014 Investors reacted positively to the news that BHP Billiton and Mitsubishi are cutting 700 jobs at a joint coal venture in Australia. Shares in BHP Billiton went up by 0.92 per cent to 1,746.5 pence on the London Stock Exchange this morning, while Mitsubishi shares rose by 0.7 per cent $5.79 on the New [...]
AG Barr share price fizzes on Snapple deal September 23, 2014 A.G. Barr Snapple-d up a bargain this morning, sending shares up on the London Stock Exchange. The Scottish drinks manufacturer, which makes soft drinks brands including Irn-Bru and Rubicon, secured a 10-year contract with Snapple to have exclusive rights to sale and distribution of the brand in the UK and a collection of other [...]