Why Tesco’s share price just fell to an 11 year low September 22, 2014 Another surprise announcement this morning from Tesco has further dampened the supermarket’s outlook when it really must have been hoping to move on from recent rough times. Shares fell more than 11 per cent to an 11-year low after announcing a £250m error in its first-half results. Whether its an accounting error or something worse, investigating the [...]
iPhone 6 breaks records: Sales top 10 million sending Apple share price up 0.84pc September 22, 2014 It may only have been on sale for three days, but sales of the iPhone 6 have already topped 10 million, setting a new record. Apple chief executive Tim Cook said the sales “exceeded expectations” but that greater supply could have increased sales even further. The iPhone 6 and iPhone 6 Plus went on sale [...]
Scotch Whisky Association calls for government support over “trade barriers” as exports drop to 25-year low September 22, 2014 This isn't just a hangover from the Scottish referendum. Sales of Scotch whisky, one of the country's biggest and most emblematic exports, dropped 11 per cent in the first half of 2014, figures out today show. Sales of the drink fell £220m to £1.77bn for the six months to the end of [...]
Labour Party Conference: Scottish referendum was “near death experience” for Westminster, says McCluskey September 22, 2014 The Scottish referendum should act as a wake up call to Westminster politicians that “you ignore the hopes of working people at your political peril”, Unite general secretary Len McCluskey told Labour MPs today. Opening with a quote from Russian revolutionary Vladimir Lenin, the union leader told delegates that the independence referendum had been [...]
Ed Balls: Walking away from Europe would be a “disaster” for Britain September 22, 2014 Shadow chancellor Ed Balls courted the business vote this afternoon, emphasising Labour's commitment to improving Britain's relationship with Europe. During a speech at the party's annual conference today, he said: “We need reform immigration rules and build alliances with Europe so that it works better for Britain. Walking away from Europe would be a [...]
London property prices: A penthouse just broke the record for the most expensive flat ever sold in Mayfair September 22, 2014 London property developer British Land said today it's just sold the most expensive Mayfair home ever – a massive 5,000 sq ft penthouse on Clarges Street in Mayfair, which sold for "materially above" the previous record of £5,000 per sq ft (which, fact fans, was set by a property on Mayfair's Mount Street). The company [...]
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 [...]