Xbox One release date: Microsoft delay China launch but console available in Hong Kong tomorrow September 22, 2014 Gamers in China had a date with a brand new Xbox One booked for tomorrow, but Microsoft has thwarted those hopes by delaying the release of its console at the last moment. A ban on foreign video game sales in China – introduced in 2000 – was lifted last year, allowing Microsoft to take advantage by [...]
Could humans live on Mars? Nasa’s MAVEN joins mission to find out September 22, 2014 When the Earth becomes too hot, it is hoped humans might be able to live on Mars. With its relatively hospitable conditions and the possible presence of water, our neighbouring planet currently seems like the best bet for humankind's continued existence. But for this to happen, we need to understand exactly what conditions are [...]
Challenger bank Aldermore announces plans to IPO September 22, 2014 Five-year-old Aldermore Bank has today announced plans to list on the stock market, saying it wants to raise £75m "to support the medium-term growth of the business". The bank, which focuses on lending to small businesses and homeowners, was one of several "challenger banks" launched during the recession when its founders saw a gap in [...]
How long would it take Europe’s minimum wage employees to buy a Big Mac? September 22, 2014 Ed Miliband has announced that a Labour government would raise the minimum wage to £8.00 by 2020 if it came to power. The current lower bound is £6.31, which will increase to £6.50 on 1 October, so the proposed hike would be a dramatic increase. If the bank of England were to average [...]
Dairy Crest share price falls on “volatile” dairy prices September 22, 2014 Dairy Crest's share price fell 1.54 per cent to 403.2 pence this morning, following the news its dairy operations lost money over the past six months. In its trading update for the half year to 30 September, the UK dairy product supplier said volatility in dairy product prices and a price war between UK [...]
Four Tesco senior executives “step aside” and FCA called in as share price plummets 11pc after “profit overstatement” September 22, 2014 Four senior Tesco executives have been suspended while it investigates a £250m "overstatement" of half-year profits. One of the figures understood to have stepped aside is Chris Bush, the supermarket's UK managing director. Shares in the supermarket opened more than 11 per cent down this morning after it admitted the error. The embattled supermarket said it [...]
David Cameron: Rights of Scottish MPs should be limited following referendum results September 22, 2014 Prime Minister David Cameron is hosting talks to discuss limiting the rights of Scottish MPs in Westminster. At a summit held at Chequers, Cameron's country residence, senior MPs will gather to talk about the issue of devolution in light of the referendum result. On Thursday, 55 per cent of Scots voted to remain [...]
EE agrees to buy 58 Phones 4U stores September 22, 2014 EE has agreed to buy 58 Phones 4U stores after the retailer collapsed into administration last week. The deal, agreed with administrator PwC after talks over the weekend, will see the mobile operator take on 359 staff. The deal follows a similar move by rival network Vodafone which agreed to buy 140 Phones 4U stores [...]
Tesco overstated profit estimates by £250m prompting “comprehensive independent investigation” says chief Dave Lewis September 22, 2014 Tesco has warned investors that its profit outlook for the half year to August has been overstated by £250m. In its previous trading update on 29 August in which it issued a profit warning, the troubled supermarket expected half year results to be “in the region of £1.1bn”. However Tesco warned today it had identified [...]
Banks gear up to battle European Banking Authority over bonus cap September 21, 2014 Banks in Britain, Germany, Sweden and the Netherlands are preparing for another legal battle over bonuses, as the European Banking Authority (EBA) considers banning them from paying fixed allowances to staff. The firms’ lawyers are adamant that paying a regular allowance in cash or shares, based on the recipient’s role and reassessed annually, does not [...]