Activists at odds over RBS claims: The strange tale of two groups taking on the big bank August 24, 2018 Investors in RBS have become alarmed by payments made between two separate action groups claiming to represent shareholders and customers wronged by the bailed-out banking giant. The RBoS Shareholders Action Group company (AGC) was set up during the financial crisis to bring together RBS shareholders who claimed the bank hid the true state of its [...]
Corbyn’s plan for the BBC would harm the press and prevent new media from thriving August 24, 2018 Taxing tech giants for the purpose of levelling the playing field is a monumentally bad idea. Unfortunately, it’s gaining traction. Over the past few weeks, we’ve seen calls for an “Amazon Tax” from chancellor Philip Hammond to help save the high street. The immediate implications of increasing the tax burden on companies like Apple, Amazon, [...]
Exclusive: Banking groups Investec and SC Lowy move to rescue Gaucho after buying up debt August 24, 2018 Two banking groups are closing in on an acquisition of Gaucho after buying out debt from the collapsed restaurant chain's other lenders, City A.M. understands. Investec and Hong Kong-based SC Lowy are now moving to buy Gaucho from administrators Deloitte after buying the debt of other lending banks in Gaucho's syndicate. An Investec spokesperson told City A.M.: "Investec [...]
Bisichi shares rise as coal shortages lift profits August 24, 2018 Coal miner Bisichi shares rose 12 per cent this morning after it announced a steep upturn in profits in the first half of 2018 thanks to a shortage of coal in domestic markets. The figures Bisichi dug up 670,000 tonnes in the period, up from 582,000 in 2017 – bringing in £4m profit, a huge increase from [...]
US-China trade war: China promises to ‘keep retaliating’ against Trump’s tariffs August 24, 2018 China will continue to retaliate against US trade tariffs, finance minister Liu Kun said today, after talks in Washington between the superpowers fizzled out without resolving their escalating trade war. US markets fell at the end of trading last night, while the Dow closed 0.3 per cent lower, with Boeing and Caterpillar dragging the index [...]
Computacenter par for the course as first half revenue surpasses £2bn August 24, 2018 IT services provider Computacenter delivered on high expectations this morning as it unveiled a jump in revenue for the first half. Shares in the firm were relatively flat as it performed in line with expectations following an upgrade in forecasts in July. The figures Revenue was up 18.1 per cent to over £2bn in the six [...]
Two House of Fraser distribution centres have reopened August 24, 2018 Two of House of Fraser's distribution centres have re-opened after a dispute with its logistics provider resulted in customer orders being cancelled. The sites in Wellingborough and Milton Keynes have re-opened today, Drapers reported. This follows a weeks-long standoff with XPO Logistics, which owns and operates the warehouses. Earlier this week, The Times reported that Mike [...]
Drama down under as Aussies appoint new Prime Minister August 24, 2018 Australia appointed Scott Morrison as its sixth Prime Minister in less than 10 years in the early hours of this morning after Malcolm Turnbull was ousted from the role last night. Morrison was previously Australia’s Treasurer, equivalent to the UK’s Chancellor, having been first elected to Australia’s House of Representatives in 2007. He was elected [...]
‘Disastrous customer service’: Luton Airport ranked worst in the UK August 24, 2018 Luton Airport is the worst UK airport for passenger satisfaction, according to an annual study produced by consumer group Which? With a customer score of 35 per cent and a one star rating for its baggage drop queues and seating, the London airport was slammed by Which? for having a "disastrous customer service", as it finished bottom [...]
WTF? Procter & Gamble looks to trademark millennial-friendly acronyms like LOL and NBD August 24, 2018 Consumer goods titan Procter & Gamble has reportedly applied to trademark millennial-friendly phrases such as 'WTF', 'LOL' and 'NBD'. It filed the trademark with the US Patent and Trademark Office in April, and if successful will mean the company can use the acronyms to market its products. The company wants to use the phrases on air [...]