Uber’s getting sued again, and this time it’s in Canada July 24, 2015 The Canadian province of Ontario is the latest place where ride-sharing app Uber is being sued by disgruntled taxi drivers. Toronto taxi drivers have launched a class action suit seeking more than C$400m (£198m) in damages and an injunction to stop it operating. Law firm Sutts, Strosberg LLP, which is representing the taxi drivers, told Reuters [...]
Statistics can be used in many ways: The Office for National Statistics’ retail sales index is designed for everyone to understand July 24, 2015 What is important for one person isn't always the most important thing for someone else. This is why it's vital to offer different ways of looking at how things are changing in order to get the full picture. The ONS' retail sales index is one of the best indicators of the performance of the [...]
The Financial Times’ Britishness has made it global, and despite being bought by Japan’s Nikkei that’s not going anywhere July 24, 2015 Some will share the unease voiced by Will Hutton on BBC Newsnight that the Financial Times has passed into overseas ownership, especially in the scenario he painted where other media assets such as ITV and Channel 4 are targets for global players such as Comcast of the US. Having worked at the FT for [...]
Lonmin share price plummets alsmost 14 per cent as it announces 3,000 job cuts July 24, 2015 Shares in troubled platinum miner Lonmin plummeted 13.9 per cent to 68.95p in late morning trading after it announced plans to close two of its mine shafts, putting 6,000 jobs at risk. Read more: Why commodities' latest price slump complicates the backdrop for interest rate hikes In an update to the stock exchange this morning, the [...]
Pearson posts £115m loss a day after sale of FT to Nikkei July 24, 2015 A day after it sold the FT to Japanese rival Nikkei for £884m, publishing giant Pearson has posted a loss of £115m in the six months to the end of June. The figures Pearson, which after yesterday's sell-off of its flagship newspaper title will focus largely on educational publishing, said losses before tax hit £115m [...]
Ladbrokes share price falls after confirming £2.3bn merger with Gala Coral July 24, 2015 Ladbrokes has confirmed it will merge with rival gambling company Gala Coral to create a bookmaking giant with a market value worth £2.3bn. Read more: Ladbrokes eyes up a quick move for Gala Coral Shares in Ladbrokes opened two per cent down on the news. With an expected 4,000 shops, Ladbrokes Gala Coral will overtake William [...]
These are the best British employers for work-life balance: Euromonitor International, Bank of England and MediaMath July 24, 2015 We all know that the 24/7 business cycle, a globalised working environment and technology such as smart phones pushes our workload outside of typical 9-5 hours. But if you're fed up of the blurred line between work and play, then Glassdoor has put together a list of Britain's best employers for work-life balance. A recent [...]
Cuadrilla set to appeal fracking refusal decision July 23, 2015 Shale gas company Cuadrilla said yesterday that it will not back down in its attempt to kick-start the UK’s fracking industry. The firm announced plans to appeal against a decision last month by Lancashire County Council (LCC) to refuse planning consent for two shale gas exploration sites. Cuadrilla sought planning permission to drill, hydraulically fracture [...]
Tidjane Thiam points Credit Suisse to private banking as profits jump July 23, 2015 Credit Suisse’s new chief executive Tidjane Thiam said yesterday that the bank would place greater emphasis on private banking and wealth management after it comfortably beat market expectations in the second quarter. “We want to rebalance towards private banking and wealth management… as opposed to the investment bank,” Thiam told CNBC. Switzerland’s second biggest bank [...]
Bank of America share price dips: Brian Moynihan, Paul Donofrio and Andrea Smith step up as Bruce Thompson and David Darnell move on July 23, 2015 Bank of America shares fell 1.46 per cent yesterday after chief executive Brian Moynihan named the fourth chief financial officer of his tenure since he took charge in 2010. Bruce Thompson stepped down on Wednesday after five and a half years as chief risk officer and chief financial officer. He will be replaced by the [...]