Tui to open 20 new destinations as travel group moves to strengthen hotel business May 6, 2019 Travel agent Tui has announced it is set to open 20 new hotels across Europe, Africa and Asia this summer as the company targets further growth in the sector. The company opened 10 new hotels on 1 May and plans to launch 20 and a new yacht by the end of the Summer season. Read [...]
Kraft Heinz to restate earnings in wake of employee misconduct May 6, 2019 US food giant Kraft Heinz admitted today that it will have to restate nearly three years of financial results after discovering evidence of employee misconduct. Kraft Heinz said in a filing announced in the US this morning that an internal probe had uncovered errors on a number of transactions concerning suppliers and procurement, causing misstatements [...]
Shares in Aeroflot fall three per cent after plane crash kills 41 people May 6, 2019 Shares in Russia’s largest airline, Aeroflot, fell by more than three per cent after a plane burst into flames in a crash-landing on Sunday at a Moscow airport, killing 41 people. A Sukhoi Superjet 100 aircraft carrying 73 passengers and five crew was struck by lightning as it took off towards Murmansk, in Russia’s northwest. Two [...]
Car maker shares fall on Donald Trump tariff hike threats as US – China trade war escalates May 6, 2019 Shares in European car makers tumbled today after Donald Trump threatened to hike up tariffs on Chinese imports to the US, marking an escalation in the ongoing trade war between the two countries. The Stoxx Europe 600 Automobiles and Parts index was down 3.3 per cent following Trump’s remarks as all of its 16 component [...]
Morrisons in City spotlight for first-quarter results May 6, 2019 Investors will be hoping Morrisons can replicate recently-improved trading results from its supermarket rivals later this week when it looks set to extend a long spell of like-for-like sales growth. Read more: Morrisons granted permission for Supreme Court appeal over data ruling Following a largely better-than-expected financial performance from both Sainsbury’s and Tesco in recent [...]
Hammond to consult businesses and unions on minimum wage amid reports of planned ‘significant increase’ May 5, 2019 Philip Hammond will hold a roundtable next week to discuss how to fight low pay, after reports he is looking at a significant increase to the minimum wage. Read more: Our people are our City, so step up and commit to the London Living Wage Sources close to the issue told the Observer he was [...]
Vodafone hopes German government will hasten rollout of ultrafast broadband May 5, 2019 Telecoms giant Vodafone has called on the German government to aid the rollout of ultrafast fibre broadband to homes and businesses by investing in so-called last mile networks. Read more: Why Vodafone is still backed to hit 250p The blue-chip firm’s German chief Hannes Ametsreiter told Welt am Sonntag newspaper the last mile section of [...]
John McDonnell says Prime Minister Theresa May ‘cannot be trusted’ after leaks May 5, 2019 Labour has claimed Theresa May has broken the terms of confidential cross party talks on a Brexit compromise and can no longer be trusted. Read more: May calls on Labour to 'put differences aside' on Brexit Shadow chancellor John McDonnell said this morning the Prime Minister had “blown the confidentiality” after details of the negotiations [...]
Warren Buffett wants to make ‘very large acquisition’ in UK despite Brexit May 5, 2019 Warren Buffett has made clear his intentions to make a “very large acquisition” in Britain, despite the cloud of economic uncertainty from Brexit negotiations showing little sign of lifting. Read more: Warren Buffett backs Anadarko bid with $10bn Occidental investment The veteran US investor said he would like to make more of a name for [...]
Thyssenkrupp still hopeful deal with Tata will go through despite EU ‘doubts’ May 5, 2019 Thyssenkrupp still hopes there is scope for agreement with antitrust regulators on a planned joint venture with Tata Steel, despite reports Brussels is likely to block the deal. Read more: Thyssenkrupp profits tumble amid economic uncertainty Tata Steel and Thyssenkrupp have put forward a plan to combine their European steel operations to form the second-biggest [...]