Lego reveals ambition to make toys for millions more children around the world March 9, 2017 Lego, the world's largest toymaker, said today it had generated the highest revenue in its 85-year history despite a soft European market. The figures Revenue rose by 6.0 per cent to DKK 37.9bn (£4.4bn), rising by 5.5 per cent on a constant currency basis. Operating profit for 2016 was DKK12.4bn compared with DKK 12.2bn in 2015. [...]
Chancellor Philip Hammond unveils Midlands Engine strategy with £392m investment and plans to cut congestion March 9, 2017 Chancellor Philip Hammond unveiled details of his Midlands Engine plans today, including £392m through the Local Growth fund to improve transport connections. This includes £151m for the West Midlands City region, the largest award for any area. There are also transport and infrastructure plans to improve the Midlands, including a commitment that by 2018, all [...]
AIG’s Hancock steps down: Donald Trump’s regulatory adviser Carl Icahn praises board’s “transition plan” March 9, 2017 AIG's global chief Peter Hancock has announced he will step down after just over two years in the role, with a ally of US President Donald Trump praising the move. The insurance giant announced the president and chief executive would be leaving as part of a wider "transition plan". Hancock will remain in place until AIG has found [...]
Kings Cross area in central London evacuated due to suspected gas leak – rail and Tube stations still open March 9, 2017 The area around Kings Cross in central London has been evacuated today due to a suspected gas leak. Network Rail said the train station has not yet been evacuated but the rail operator is monitoring the situation. Transport for London said the incident had no impact on the Tube station. The emergency services were alerted [...]
“Microinfluencers” could hold the key for marketers when trust in media is thin March 9, 2017 Trust is the currency of the Internet. At a time when trust in media is thin on the ground there is one group of publishers who are followed by many for their authenticity. No wonder brands are now interested in “microinfluencers”. Early each year, communications agency Edelman issues its “Trust Barometer”. It measures public [...]
The Force is strong with Cineworld after Star Wars: Rogue One helps it to a record year March 9, 2017 Cineworld announced a record year as over 100m customers visited its venues in 2016, boosted by the acquisition of five Empire cinemas. The release of films like the highly anticipated Fantastic Beasts and Where to Find them and Star Wars: Rogue One also helped bring in a blockbuster 2016. Shares were flat at the time of [...]
US takeovers in Europe hit record levels despite Dulux owner brushing off £18bn approach from PPG Industries March 9, 2017 US takeovers in Europe are heading for record levels this year, despite Azko Nobel, the Dutch paints and coatings maker behind Dulux, rejected a €21bn (£18bn) from rival PPG Industries. Some 205 US-Europe deals have been agreed so far this year, according to Thomson Reuters. While the number is down on 263 agreed last year, [...]
WPP chief executive Sir Martin Sorrell’s share scheme pay falls more than 30 per cent (to £42m) March 9, 2017 Sir Martin Sorrell, the FTSE 100’s best-paid chief executive, raked in £42m from WPP’s long-term incentive scheme last year, it emerged today. The £41.56m is a reduction on £63m Sorrell made from the LEAP share scheme last year, meaning his overall package for the year is likely to reduce from 2015’s £70m to around £50m. [...]
Shell divestment drive continues with the sale of its Canadian oil sands assets March 9, 2017 Shell is progressing with its $30bn divestment plan quite nicely as it today agreed to sell most of its Canadian oil sands assets for $8.5bn (£7bn). The Anglo-Dutch oil giant will sell its existing and undeveloped interests to Canadian Natural and cut its share in the Athabasca Oil Sands Project from 60 to 10 per cent. "This significant divestment [...]
Tax rise on national insurance “modest but welcome” says IFS on chancellor Philip Hammond’s Budget March 9, 2017 Moves by chancellor Philip Hammond to increase national insurance tax on the self-employed are “modest but welcome”, according to an influential economics think tank. Paul Johnson, head of the Institute for Fiscal Studies (IFS), said the tax increase will help “shore up the tax base and create a slightly less unequal playing field.” The increase [...]