B&G makes giant acquisition in American frozen foods industry September 4, 2015 B&G FOODS is about to make a giant investment. The American snack food company said yesterday that it would buy General Mills’s Green Giant frozen foods business, as well as its Le Sueur canned vegetable brand, for about $765m (£501m), in order to broaden its distribution network and expand into the frozen foods market. Growth in [...]
Magic circle firms struggle to keep up with US rivals September 4, 2015 BRITAIN’s elite law firms failed to track the country’s improving economy and reported a combined turnover of £20.64bn, a one per cent drop in earnings from 2014. Figures released by Legal Business magazine today show that the number of lawyers employed by the largest 100 firms in the UK, has also fallen, down two per [...]
Nissan to invest £100m in Sunderland car plant September 3, 2015 The UK’s biggest car plant is to receive a further £100m investment, after Nissan said it plans to build its next generation Juke model in the UK. The investment is a will secure “valuable jobs for thousands of working people in the area”, chancellor George Osborne said in Sunderland. "Our ambitious plan to build the [...]
Pizza Express bows to pressure on tips September 3, 2015 Pizza Express has bowed to growing pressure over its tipping system and agreed to remove the eight per cent administration fee it charges for customers paying their bill with card. The move, which workers and unions have been calling for over the last few months, means staff will receive the full amount left for [...]
Co-operative Group says investments in its turnaround will hit full-year profits September 3, 2015 The Co-operative Group has warned full-year profits are likely to be lower than 2014 is ramps up investment as part of a radical overhaul of the business following one of the most turbulent periods in its history. The company, which operates everything from supermarkets to funerals, has been fighting to restore its fortunes following the [...]
Uber drivers given green light by US judge to launch class-action lawsuit September 3, 2015 Uber drivers have been given the go-ahead by a judge in the US to launch a class-action lawsuit which could result in its model being radically altered Read more: Uber vs black cab: Who wins among London passengers? – Brand Index The drivers are fighting for the right to be classed as employees rather [...]
EasyJet share price on track for biggest rise in two years as summer success lifts full-year expectations September 3, 2015 A record number of passengers and cheap fuel prices have offset difficulties faced by the low-cost airline earlier in the year. The figures Budget airline EasyJet has said it carried a total of 7.1m passengers in August – a one-month record for the company. Similarly, the proportion of seats occupied on flights reached an all-time [...]
Barclays share price rises as it confirms sale of Portuguese assets September 3, 2015 Barclays confirmed this morning it will sell its Portuguese non-core assets – including its retail banking, wealth and investment businesses, as well as the small business arm of its corporate banking business – to Bankinter. It will also sell its insurance business in the country to Bankinter's insurance subsidiary, which operates a joint venture with [...]
US construction growth sparks Ashtead profits September 3, 2015 Equipment hire group Ashtead topped the FTSE 100 leaderboard yesterday, bucking the woes of the wider sector to unveil encouraging first-quarter results. The company, which derives 85 per cent of its revenues from its North American business Sunbelt, reaped the rewards of the continued US construction recovery as it posted a 20 per cent rise [...]
Volkswagen’s board backs extension of chief exec Martin Winterkorn’s contract September 3, 2015 Volkswagen yesterday proposed the extension of chief executive Martin Winterkorn’s contract until the end of 2018, proving that he has the company’s backing following a high-profile power struggle with former chairman Ferdinand Piech, who was ousted earlier this year. The executive committee of the supervisory board of the German car manufacturing giant unanimously voted in [...]