Wales’ mobile venture TPO looking to list October 13, 2014 ETHICAL mobile phone company The People’s Operator (TPO) is looking to list in London as it seeks capital to help fund global expansion using a similar model to Wikipedia. The London-based company, which allows users to donate 10 per cent of their monthly bill to charity, is planning to launch on Aim in the next [...]
Ray-Ban owner Luxottica’s share price slumps as second chief exec Enrico Cavatorta quits October 13, 2014 Luxottica shares slumped nine per cent yesterday after the world’s largest eyewear company stunned investors with the resignation of its second chief executive in just over a month. The Ray-Ban owner said Enrico Cavatorta has handed in his notice just six weeks after the surprise exit of his predecessor Andrea Guerra following a decade at [...]
Amazon unveils plans for 1,000 new warehouse jobs in the UK October 13, 2014 AMAZON is planning to hire 1,000 more staff to work at its distribution centres across the UK. The permanent staff will be based at Amazon’s centres in Doncaster, Dunfermline, Gourock, Hemel Hempstead, Milton Keynes, Peterborough, Rugeley and Swansea Bay over the coming months. The hiring spree will add to the 6,000 existing staff working at [...]
Sportech to appeal against £93m VAT charge October 13, 2014 BETTING operator Sportech has lodged an application to appeal against HM Revenue & Customs’ (HMRC) case that forced the group to pay back £93m in tax over its Spot the Ball game. Last month, it was ruled a game of skill not chance and therefore subject to VAT.
Jean Tirole’s Wikipedia page in need of an edit as Manuel Valls thumbs his nose at Andy Street October 13, 2014 When Jean Tirole’s name was read out at the Royal Swedish Academy of Sciences yesterday, a lot of people, economics geeks aside, Googled his name to see who exactly the Nobel Prize for Economics winner was. Along with the list of the economist’s various accolades, Tirole’s Wikipedia page said, “YO, SOMEONE EDIT THIS STUFF IT [...]
Fan’s attempt to give Red Bull its wings back fails to get off ground October 13, 2014 Following last week’s devastating news that Red Bull doesn’t give you wings and the drink brand’s subsequent $13m settlement for misleading advertising, one fan has taken into his own hands to cheer up the energy drink company. Davey Kulter set up a crowdfunding Indiegogo campaign to “give Red Bull its wings back”. He [...]
Heathrow airport has a flyaway month as September numbers soar October 13, 2014 Heathrow airport saw its busiest September on record last month, with passenger numbers, cargo and travel between emerging markets all increasing. The airport, which is currently making a bid for expansion, said the number of people flying in rose 0.3 per cent compared with September 2013. Overall, cargo was up 7.8 per cent, with Mexico [...]
Spanish airport operator Aena takes over the reins at Luton October 13, 2014 AENA Aeropuertos, Spain’s biggest airport operator, will take control of Luton Airport this week when it inks a deal to boost its ownership of the transport hub. Aena is set to increase its ownership of the site to 51 per cent from 40 per cent. The Spanish government, which currently owns Aena through its holding [...]
Economic cost of wasted hours caused by London traffic gridlock to hit £9.3bn by 2030 October 13, 2014 Traffic gridlock has a substantial effect on the economy and this is set to get significantly worse by 2030, according to a report by the Centre for Economics and Business Research (CEBR). Having studied the real-time information provided by traffic analytics firm INRIX, the CEBR concluded drivers in London spent more than 250 hours idling [...]
French expert on regulation and firms wins Nobel October 13, 2014 TOULOUSE University’s Jean Tirole yesterday won the 2014 Nobel Prize for economics for his work on large firms and regulation. The highly-coveted award carries prize money of 8m Swedish kronor (£775,000). This year’s prize was focused on “taming powerful firms”, particularly in industries with just a few key players. Tirole, who is the scientific director [...]