After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
Watchdog slaps £14.5m fine on RBS for advice August 27, 2014 THE ROYAL Bank of Scotland (RBS) was slapped with a £14.47m fine by the UK’s main banking watchdog yesterday over the quality of its mortgage advice. The penalty relates to two reviews of sales undertaken in 2012 – the Finance Conduct Authority (FCA) said that only two of the 164 mortgage agreements reviewed met the required standard, [...]
Christine Lagarde charged with negligence August 27, 2014 Head of the International Monetary Fund Christine Lagarde has been charged with “simple negligence” by a court in France, following claims of ministerial wrongdoing surrounding a €400m (£318m) payout to French businessman Bernard Tapie when she was finance minister. Lagarde said she would challenge the “totally baseless” decision.
Morrisons fights back as Tesco’s sales get worse August 27, 2014 The challenges facing Tesco incoming boss Dave Lewis were further laid bare yesterday after figures out yesterday showed a worsening sales performance at Britain’s largest grocer. According to data from Kantar Worldpanel, Tesco’s sales declined by four per cent year-on-year in the 12 weeks to 17 August. This means its market share fell to 28.8 [...]
Lidl by Lidl, the discounters are still on the rise – Bottom Line August 27, 2014 Fresh data, but no fresh hope for the mid-market grocers. Tesco dropped its market share to 28.8 per cent in the 12 weeks to 17 August, down from 30.2 per cent last year. Sainsbury’s also edged down. By contrast, premium player Waitrose grew its market share to 4.9 per cent – and its take at [...]
Monitise share price soars on extension to IBM partnership August 27, 2014 London-listed Monitise saw its shares soar 13.2 per cent yesterday after the mobile banking and payments firm announced a deeper alliance with business giant IBM. This would include the transfer of teams from Monitise’s development and implementation workforce to IBM. Monitise sells white-label mobile banking software – used by customers including Visa, Natwest and HSBC [...]
Snapchat now fundraising with a $10bn valuation August 27, 2014 Ephemeral photo messaging app Snapchat is reportedly in the process of raising a new round of investment valuing the mobile messaging app at $10bn (£6bn), far above Facebook’s $3bn takeover offer last year. According to the Wall Street Journal, prolific Silicon Valley venture capital firm Kleiner Perkins Caufield & Byer is said to have invested [...]
Profits up 180pc as Alibaba preps bumper $20bn New York listing August 27, 2014 CHINESE e-commerce giant Alibaba reported its profits almost tripled in the three months to the end of June. Alibaba, which could float on the New York Stock Exchange in the coming weeks, filed papers with the US Securities and Exchange Commission showing profits jumped to 12.34bn yuan (£1.2bn), from 4.38bn yuan during the same period [...]
Salesfest at Tiffany’s as profit forecast rises August 27, 2014 Upscale jeweller Tiffany & Co raised its full-year profit forecast for a second time following a better-than-expected rise in quarterly profit, driven by strong sales and higher prices for its high-end jewellery in the Americas, its biggest market. Sales in the region, about half of overall sales, rose 10 per cent in the second quarter [...]
OneSavings Bank profits rise after lender tightens purse strings August 27, 2014 OneSavings Bank, the first British lender to float on the stock market since the turn of the century, yesterday said lower costs had helped to drive a four-fold rise in half-year profits. The lender, which offers mortgages and saving accounts through its Kent Reliance brand, said underlying pre-tax profits rose to £29.7m for [...]
Fyffes share price up as markets go bananas for Chiquita merger shipping savings August 27, 2014 Shares in London-listed fruit giant Fyffes jumped yesterday, after a joint announcement with banana colossus Chiquita that the firms identified another $20m (£12.06m) in synergy savings to be made by their merger. Fyffe’s shares rose to 78.5p during the day, up by 4.67 per cent from Tuesday’s close. The companies had already announced $40m in [...]