Music retailer HMV on the verge of second administration since 2013, reports December 28, 2018 HMV is set to go into administration for the second time in six years, putting 2,200 jobs at risk, according to reports. The company reportedly filed a notice of intention to appoint administrators last week as it held last minute talks with suppliers, Sky News reported this morning. The company was bailed out in a [...]
Nissan to cut back Chinese car production in opening of 2019 as US-China trade war slows sales December 28, 2018 Nissan has cut back its Chinese production plans for the first months of 2019, amid falling demand in the world’s biggest car market, according to reports. The company has followed Ford and Hyundai in cutting production, reportedly planning to make 30,000 fewer cars in the period to the end of February. China’s trade war with [...]
MPs demand ‘meaningful’ vote on all trade deals after Brexit December 28, 2018 MPs have called for the power to veto any trade deals negotiated by the government after Britain leaves the EU. In a move likely to be rejected by a government which has already pushed the so-called meaningful vote on Theresa May’s Brexit deal back a month to mid-January, the influential International Trade Committee has demanded [...]
Wall Street falls as stocks fail to capitalise on bear market December 27, 2018 US stock markets dropped today, wiping out a portion of yesterday’s bump as US consumer confidence fell to its lowest point since July. Following its first ever 1,000-point daily surge yesterday, the Dow Jones fell 441 points to 22,439. The 1.9 per cent drop was led in part by technology stocks as Apple, Amazon and Google’s [...]
Superdry up as board faces potential battle with founder Dunkerton December 27, 2018 Superdry gained eight per cent today as a battle is brewing for the future of the company. The shares rose by 34p to 460p by early afternoon, making the company the fastest riser on the London Stock Exchange today. The rise on the markets comes after it was reported at the weekend that Julian Dunkerton [...]
Top EU official: MPs could still approve May’s deal in vote next month December 27, 2018 The likelihood of Britain abandoning Brexit altogether and staying in the European Union has increased slightly in recent months, but there is no public support for a second referendum, one of the bloc’s top officials has said. European Commissioner Guenther Oettinger told the Funke Media Group that there is still a chance MPs will vote for [...]
Ousted Nissan chairman Ghosn paid company funds to Saudi businessman December 27, 2018 New charges against Carlos Ghosn claim the ousted Nissan chairman used company funds to pay a Saudi businessman for a personal favour, it has been revealed. Ghosn, who was arrested for a third time last week, is alleged to have paid $14.7m (£11.6m) in four instalments to Khaled Al-Juffali, the vice chairman of the EA Juffali and Brothers [...]
Huawei shrugs off international pressure as revenues set to grow by a fifth December 27, 2018 Huawei Technologies is expecting to grow revenues by around a fifth in 2018, despite increased international pressure and security concerns over its products. The company’s rotating chairman Guo Ping said that the technology firm is expecting revenues to hit $108.5bn (£85.7bn) this year, an increase of 21 per cent year-on-year. Despite western concerns over its role [...]
Musk: Tesla superchargers to extend across Europe next year December 27, 2018 Tesla’s supercharger network will extend across Europe next year, the company’s chief executive Elon Musk has said. The charger system, which allows Tesla owners to plug in for 30 minutes for a power boost during their trip, has previously had some black spots in Europe. However, they will now be extended to the rest of [...]
French airport group takes over Gatwick a week after travel chaos December 27, 2018 French group Vinci is set to buy Gatwick in a deal which values the business at around £5.8bn, just a week after drones caused travel chaos at the UK’s second biggest airport. Vinci, which operates 46 airports in 12 countries, takes a controlling 50.01 per cent stake in Gatwick for around £2.9bn. Gatwick’s chairman Sir [...]