Pernod Ricard toasts strong growth in India and China August 29, 2018 The world’s second-largest drinks maker Pernod Ricard announced six per cent sales growth in the last financial year, boosted by strong sales in China and India. The French company, which owns brands such as Jameson whiskey, Martell cognac and Beefeater Gin, posted revenue of €8.987bn (£8.148bn) for the 2017-18 financial year. Read more: Rising prices [...]
October Brexit deadline dropped as negotiators eye November August 29, 2018 Senior officials in both London and Brussels have privately admitted that the October deadline for a deal on Brexit is now unlikely. Instead both sides are pinning their hopes on a November breakthrough to the deadlock that has plagued talks. It is thought an emergency European Council session is being earmarked for that month in order [...]
Grant Thornton hit with £3m fine for Vimto audit failures August 29, 2018 Accountancy firm Grant Thornton has been fined £3m for misconduct in the auditing of the owner of soft drink Vimto and the University of Salford. Regulator the Financial Reporting Council (FRC) fined Grant Thornton and four of its senior auditors for what it said were “widespread and serious inadequacies”. The fines relate to the audits of [...]
The Gym Group flexes its muscles with strong expansion and member growth August 29, 2018 Budget gym operator The Gym Group reported another strong period this morning, as membership numbers soar in line with expansion. The figures With six new openings and a string of 13 easyGym sites acquired just after the period end, the total number of gyms reached 147. The group's rapid expansion saw member numbers jump to 720,000, [...]
British Gas pays out £2.65m after misleading and overcharging customers August 29, 2018 British Gas has been forced to pay out £2.65m after wrongly charging almost 100,000 customers a higher rate and falsely telling millions that they had to pay to exit their fixed deals early. Regulator Ofgem found that the energy provider gave 2.5m customers inaccurate terms and conditions that said that exit fees were payable during [...]
Online revenues dive as Johnston Press falls victim to Google and Facebook changes August 29, 2018 The share price in major UK newspaper group Johnston Press plummeted as much as 21 per cent today as the firm reported a fall in half-year revenue amid privacy changes to social media giants such as Google and Facebook. Total revenues dropped to £93m in the first six months of 2018, falling 10 per cent compared [...]
Shareholder spring? Number of British investor pay revolts falls August 29, 2018 The government’s plans to spur a new era of shareholder pressure on executive pay appear to have fallen flat, as new figures show a fall in the number of rebellions on pay. The number of shareholder pay revolts among Britain’s listed companies fell to 61 during the first half of 2018, down from 68 last [...]
British shop prices rise for first time in five years August 29, 2018 British shop prices have risen for the first time in five years as hot weather and the rising price of oil conspired to add to inflationary pressure. Shop prices increased by 0.1 per cent in August 2018 compared to last year, figures from the British Retail Consortium, prepared by Nielsen, will today show. The rate [...]
Wonga’s brand perception is struggling amidst negative headlines August 29, 2018 Over the last week rumours have swirled around one of Britain’s biggest payday lenders, Wonga, with suggestions that the brand may be close to collapse. This apparent crisis facing the short-term loan provider relates to an apparent surge in customer compensation claims. Wonga’s financial issues have resulted in a £10m emergency cash injection from shareholders [...]
Acacia Mining chairman departs for South African rival AngloGold Ashanti August 29, 2018 The chairman of a Tanzania-focused miner that is involved in a bitter dispute over gold exports with the country's government will step down at the end of this month to a join a South African rival. Kelvin Dushnisky will leave Acacia Mining on 31 August to join South African miner AngloGold Ashanti as chief executive and an executive [...]