Reckless “takes the Three Hundreds of Chiltern” after Ukip defection September 30, 2014 Here at City AM, we are great believers in tradition, particularly when it comes to our elected leaders, who seem to indulge in the level of historical customs and practices normally reserved for those attending Hogwarts. So the news that Mark Reckless MP has been appointed to the office of crown steward and bailiff of [...]
Ebay shares jump in pre-market trading as it confirms Paypal spin-off and poaches American Express’ Dan Schulman as its new chief exec September 30, 2014 Ebay shares jumped 11 per cent in pre-market trading as it confirmed plans to spin off its online payment company Paypal into a separately listed company sometime in the second half of next year. The auction site said following a strategic review, its board had decided separating the two companies will position them "to capitalise [...]
Premier League TV deal costs fans too much says Virgin Media in complaint to Ofcom September 30, 2014 Virgin Media has submitted a formal complaint to Ofcom about the way Premier League television rights are auctioned. The company believes fans in the UK are being charged too much to watch games from England's top tier. In 2012 the Premier League sold domestic TV rights to BSkyB and British Telecom (BT) [...]
Uber makes peace with German taxi drivers September 30, 2014 Uber has launched its UberTaxi service in Berlin and Hamburg after a series of struggles with German courts. UberTaxi, which operates in London and New York, allows users to hail a licensed cab. Furthermore, Uber will be changing its UberBlack service to comply with Berlin regulations. The prices are, usually, lower than those of traditional [...]
Boris Johnson’s former deputy drops party membership for Ukip September 30, 2014 Yesterday Boris Johnson said Tory defectors to Ukip were “utterly nuts”. But perhaps he shouldn't have spoken so soon because it turns out his former right-hand-man Richard Barnes has done just that. The former deputy mayor of London has today emerged as the latest party unfaithful, ditching his party membership in favour of the [...]
Scottish referendum turnout could help councils recoup millions in unpaid tax September 30, 2014 The Scottish referendum could be helping councils north of the border track down millions in unpaid council and poll tax. The independence vote saw an unprecedented level of engagement from voters – 97 per cent of those who were eligible to register did so, and turn-out reached 85 per cent. Across Scotland, nearly 4.3 [...]
Payday lender Wonga profits plummet by more than 50 per cent September 30, 2014 Wonga’s profits halved last year, as the controversial payday lender paid the price of mounting operating costs. Analysts had expected to see a sharp fall in profits of around 41 per cent, but Wonga’s 2013 results told and even sorrier story. Net profit plummeted 51 per cent in 2013 to £30.6m, compared with [...]
Two-thirds of small businesses predict double-digit growth in 2015 September 30, 2014 Britain's small businesses are overwhelmingly optimistic about prospects for growth in 2015, according to research conducted by mobile network operator EE. The survey of 1,000 small businesses shows 69 per cent believe they will enjoy double-digit growth next year, with an average projection of 26 per cent growth. However, the research was not all good news. [...]
Tesco share price falls on £2.5bn credit facility claims September 30, 2014 Tesco share price fell again today – though far less than in recent days – after it emerged the embattled supermarket had sought a £2.5bn banking facility to prop it up against any impact from credit ratings downgradings. The supermarket was 0.4 per cent down in early trading today, with its share price continuing [...]
Eurozone inflation falls to 0.3 per cent as euro hits two year low against the dollar September 30, 2014 Eurozone inflation has dropped again, falling from a sluggish 0.4 per cent to 0.3 per cent. Expectations of the fall pushed the Euro to a two-year low of $1.2659 against the dollar in morning trading. While the figure was in line with expectations, it was nevertheless disappointing, and is likely to increase pressure on the [...]