BNY Mellon suffers 20 per cent profit fall in ‘mixed’ first quarter as fee revenue drops April 17, 2019 US bank BNY Mellon has reported a 20 per cent profit fall in the first quarter of the year led by a drop in fee revenue. Chief executive Charlie Scharf admitted the bank’s performance was “mixed” and that revenue growth would be negatively impacted for the next several quarters. Read more: Goldman Sachs profits fall [...]
Pepsico beats analyst predictions for first quarter after strong low-sugar drink sales April 17, 2019 Pepsico beat analysts' estimates on first-quarter sales and profit, boosted by higher demands for its low-sugar drinks, sparkling water and snacks. The company announced 2.15 per cent sales growth in its North American beverages division with sales in its Frito-Lay snacks unit growing 5.5 per cent. Read more: Pepsico issues profit warning as it ramps [...]
Climate change protesters glue themselves to DLR train at Canary Wharf station April 17, 2019 Climate change protesters have glued themselves to a DLR train at Canary Wharf as police reportedly closed access to parts of the station in response to the disruption. Read more: Protesters reveal rail disruption plan as police shut Tube Wi-Fi Extinction Rebellion activists today stepped up their London protests by targeting the capital’s transport network, [...]
EU threatens $20bn of tariffs on US goods from ketchup to helicopters April 17, 2019 The European Union has threatened to slap $20bn (£15.3bn) worth of tariffs on American goods in retaliation for possible tariffs from the US, as the long-running conflict over aircraft subsidies continues. Read more: US threatens tariffs on $11bn of EU goods The European Commission today said it could tariff everything from rum and ketchup to tractors and helicopters, [...]
Bell Pottinger partners could face legal action over disgraced PR firm’s collapse April 17, 2019 Former partners of the disgraced PR firm Bell Pottinger could face legal action over its collapse, administrators BDO have warned. The PR company collapsed in 2017 following a scandal over its work for the Gupta family in South Africa, where it was accused of deliberately inciting racial hatred. Read more: Insolvency Service launches probe into [...]
Competition watchdog warns holiday booking sites over trip cancellation costs April 17, 2019 The UK’s competition watchdog has issued a warning to holiday booking websites to make customer terms and conditions clear. A total of one in five customers who had cancelled a booking in the past felt they had been treated unfairly, a Competition and Markets Authority (CMA) survey found, as the regulator told travel businesses to [...]
EU trade in goods surplus with US increases as economic tensions rise April 17, 2019 The European Union’s trade in goods surplus with the US grew in January and February compared to a year earlier, a development that could further raise tensions with the Trump administration. Read more: EU officials given go-ahead to negotiate with Trump on tariffs Meanwhile, the EU’s trade in goods deficit with China increased, driven by [...]
Boeing software update and training tweaks ‘operationally suitable’, says FAA April 17, 2019 A review of Boeing’s grounded 737 Max plane by the US aviation regulator has ruled that a planned software update and pilot training tweaks are “operationally suitable”. Read more: Boeing faces shareholder lawsuit over 737 Max crashes The decision marks an important milestone in getting the firm’s best-selling plane back in the air after authorities [...]
Carlsberg promotes negative tweets about its own beer as it finally agrees with drinkers April 17, 2019 Drinkers have “moved on” from mainstream lager, Carlsberg admitted today after promoting a series of negative tweets about its much-despised drink. The brewer has admit it is probably not the best beer in the world, in sharp contrast to its famous marketing campaign. Read more: Carlsberg sparks intrigue with Twitter marketing campaign Instead it launched [...]
West End businesses lose £12m in two days during climate change protests April 17, 2019 West End businesses have lost an estimated £12m in sales due to the disruption caused by climate change protesters this week. Extinction Rebellion protests at Oxford Circus, Piccadilly Circus, Marble Arch have hit retailers in London’s main shopping district, with some stores reporting a 25 per cent drop in footfall. Read more: Climate change protesters target [...]