Former Tesco chief executive Philip Clarke to be quizzed by Serious Fraud Office August 28, 2015 Former Tesco boss Philip Clarke is set to be grilled by the Serious Fraud Office (SFO) as part of an investigation into the supermarket chain’s multi-million pound accounting black hole. The UK prosecutors have also called in ex-commercial director Kevin Grace for questioning, according to people with knowledge of the matter cited by Bloomberg. Read [...]
888 profits dip as competition with GVC heats up for Bwin.party August 28, 2015 Online gambling giant 888 Holdings, which is currently in hot pursuit of Bwin.party, has promised to put all its cards on the table, as it unveiled a dip in revenues for the first half of 2015. The company said it will publish its prospectus for its recommended offer for Aim-listed Bwin as it attempted to [...]
HSBC customers not getting paid after IT failure August 28, 2015 HSBC customers face payday woes today, after an IT glitch at the bank has left thousands without their salaries just ahead of the bank holiday weekend. It's unclear exactly what problems it's experiencing, but following a barrage of complaints from customers noticing that their paycheques were missing, the bank confirmed on Twitter that it was [...]
How New York City’s yellow taxis are fighting back at Uber through ride-hailing app Arro August 28, 2015 London’s black cabs aren’t the only ones fuming: across the world, cab companies have been losing customers to ride-hailing app Uber. But New York City cabbies are trying a new way of fighting back – by giving the app a taste of its own medicine. Hoping to win back some customers that have gone over [...]
Apple executive Ian Rogers resigns just two months after launch of online radio Beats1 August 28, 2015 Apple executive Ian Rogers took his company and the music industry by surprise today, resigning just two months after the launch of Beats1 online radio, reports the Financial Times. Rogers, who joined Apple a year ago, headed up development and strategy at Beats1, bringing in presenters like Ellie Goulding and Zane Lowe. Apple has confirmed [...]
Jurassic World boosts first-half profit at Odeon and UCI Cinemas August 28, 2015 Odeon and UCI Cinemas yesterday unveiled a blockbuster rise in first-half revenue and earnings, thanks to box-office smashes such as Jurassic World. The cinema chain, owned by the Terra Firma private equity firm, saw its core earnings more than double to £37.3m, while revenue increased by 17.1 per cent to £348.7m. Attendance rose 13.8 per [...]
GVC down but not out in duel for Bwin.party August 28, 2015 888’S lead position in the battle for online gaming giant Bwin.party was thrown into doubt yesterday when the takeover target asked rival bidder GVC to finalise its best offer. Sportingbet owner GVC appeared to have fallen out of the running after Bwin.party accepted a £900m cash and share deal from 888 in July. But GVC [...]
Profits double at Aldermore as lending grows August 28, 2015 The Chief executive of Aldermore yesterday shrugged off the impact of UK tax changes on the challenger bank’s growth trajectory, as the firm revealed that it more than doubled profit in the first half of the year. The six-year-old bank beat expectations with an underlying pre-tax profit of £44m as it issued more mortgages [...]
Libor rate-fixing scandal: Serious Fraud Office grills Deutsche Bank traders August 27, 2015 Deutsche Bank traders have been interviewed by the Serious Fraud Office (SFO) in recent weeks in relation to the Libor scandal. A number of traders, both current and past, have been questioned by UK prosecutors about the manipulation of Libor – the rate at which banks lend to each other, according to Bloomberg. The SFO [...]
Internet of Things, digital assistant and 3D tablets: Four projects Amazon’s Lab 126 is secretly working on August 27, 2015 They may be laying off “dozens” of engineers, but Amazon’s labs are still working on some pretty interesting projects. After the company’s anticipated “iPhone killer”, the Fire, failed to deliver, it was reported today that engineers will be laid off after Amazon decided to retreat from smartphones – and from several other consumer hardware products. Read [...]