Burger King share price jumps following rise in sales growth and net income November 4, 2014 In contrast to its catchphrase, Burger King did not have things its own way during its third quarter. The fast food company posted figures today showing a net loss of $23.5m in the three months ended 30 September 2014. However, adjusted net income (which excludes tax and other payments) stood at $96.4m, an [...]
When did life on Earth begin? Darwin’s dilemma solved with new explanation for “Cambrian explosion” November 4, 2014 It's pretty well accepted that an event 542 million years ago known as the "Cambrian explosion" caused multicellular organisms to develop, paving the way for all the animal species we see around us today. But what brought that about? A new study has suggested it could have been caused by a major geographic change. [...]
Gunpowder and treason? No, this time it’s a fatberg that has been discovered under Whitehall November 4, 2014 Fireworks' Night is nearly upon us, but instead of gunpowder and treason, a mega fatberg has been discovered right under Whitehall. In a sewer 10 metres below the centre of government, one of the city's biggest fatbergs – a series of huge congealed rocks made of fat, oil and even “everyday toiletry items” has [...]
Tinder CEO and co-founder Sean Rad is out as boss of IAC’s star startup November 4, 2014 The chief executive and co-founder of hugely successful dating app Tinder has been removed by majority owner IAC. Sean Rad will stay on as president and remains on the board. He will stay on until a new chief executive is found. Rad was ousted from the position after a call last month from IAC’s Sam [...]
Rolls-Royce share price jumps as it announces plans to cut 2,600 jobs November 4, 2014 Shares in Rolls-Royce jumped 2.63 per cent in mid-afternoon trading after it announced plans to lay off 2,600 staff – including its finance director. In a statement to the stock market today, the company said the cuts, which will mainly take place in its aerospace division, were "consistent" with plans announced last month. It added [...]
Lynne Featherstone moves up after Norman Baker’s exit November 4, 2014 International development minister Lynne Featherstone has been promoted to minister of crime prevention at the Home Office, after Norman Baker quit yesterday. Featherstone will pick up the brief from her Lib Dem colleague who left the coalition after four-and-a-half years as a minister. Baker, whose resignation letter said working with Home Secretary Theresa May [...]
What should businesses do about the overtime holiday pay ruling? Here’s everything we know November 4, 2014 A ruling handed down by the Employment Appeals Tribunal (EAT) today means employers might have to shell out millions – some have even suggested it could be billions – in holiday pay to workers who are paid overtime. The decision was on a case brought forward by three employees of Bear Scotland, a road [...]
Alibaba revenue rises 54 per cent in first quarterly results since IPO November 4, 2014 Alibaba’s first earnings report since its initial public offering (IPO) – the largest in history – was something of a mixed bag. While revenues beat analysts’ expectations, profits fell well below forecasts. Revenues came in at $2.74bn (£1.71bn) for the quarter ended 30 September 2014, beating an expected $2.61bn from analysts polled by Yahoo [...]
Why do immigrants want to come to the UK? It’s not to get benefits or steal British jobs November 4, 2014 A relatively high proportion of non-UK nationals come the UK to study, and migrants have jobless rates comparable to those of UK nationals, official data suggests. According to an Office of National Statistics analysis of 2011 census data, 14 per cent of all migrants were students, compared to only 9.7 per cent for the UK [...]
Xiaomi is spending $1bn on Internet TV content to takeover China’s smart TV market and rival Alibaba, Baidu and Tencent November 4, 2014 Xiaomi, the Chinese smartphone maker, is planning to spend up to $1bn (£625m) on online TV content in an effort to dominate the smart TV market. The three-year-old company has already overtaken established players in the smartphone market to become the third largest in the world and is now setting its sites on the billion [...]