British Airways is shrinking its hand luggage allowance to reduce risk of delays July 30, 2015 British Airways is reducing the amount of hand luggage each passenger can take on board with them, to limit the chance that the overall cabin allowance is exceeded. Read more: Carry-on luggage on airlines including Lufthansa and Emirates is about to get even smaller In an email sent to customers, it said that the [...]
FCA bans ex-trader Lee Stewart over Libor-rigging scandal July 30, 2015 The Financial Conduct Authority (FCA) has banned another former Rabobank trader over their role in the Libor rate-rigging scandal. The regulator banned Lee Stewart from the financial services industry for lacking honesty and integrity. Earlier this year Stewart pleaded guilty in the US for his role in a conspiracy to manipulate Rabobank’s US dollar Libor submissions. "Mr Stewart [...]
MH370: Code on Reunion debris suggests it came from Boeing 777, while suitcase washed up on nearby coastline July 30, 2015 Update: A code has been found on wreckage washed up on an Indian Ocean island last night, adding weight to the view that it belongs to a Boeing 777 – potentially the missing flight MH370. A two-metre-long (6ft) piece of wreckage washed up on the French Indian Ocean island, which sits 370 miles east [...]
Facebook share price dips as spending soars July 30, 2015 Facebook reports positive earnings one again, but investors aren't impressed by it's expenditures. The figures During the second quarter, Facebook's year-on-year revenue went up 39 per cent to $4.04bn (£2.59bn), while earnings-per-share increased from 42 cents to 50 cents. Read more: Facebook makes new friends as it doubles its London HQ The results were [...]
Chime Communications’ share price soars after £350m WPP takeover revealed July 30, 2015 Chime Communications' share price has shot up by more than 25 per cent in early trading after revealing that WPP and US private equity firm Providence Equity Partners are in talks to buy the company for £350m. Read more: Chime Communications scores higher profit with World Cup and Sochi Olympics Sir Martin Sorrell's advertising giant WPP [...]
BT shrugs off break-up talks to increase profit before tax by 16 per cent July 30, 2015 The likes of Sky may be after its head, but that hasn't prevented BT from posting a 16 per cent rise in pre-tax profit, despite a modest fall in revenue. BT's share price fell three per cent in mid morning trading following the announcement. The figures The telecoms giant reported a two per cent fall [...]
Conservative election victory creates M&A bonanza July 30, 2015 The run-up to the election may seem like ancient history now, but there's no doubting businesses were worried about what would happen if the wrong sort of coalition, or even – gasp – Labour, came to power. Read more: Summer sizzler? Over £11bn of UK-focused takeover deals on the horizon So it's hardly surprising that in the [...]
Did RBS just move one step closer to privatisation? Share price shoots up as profits jump July 30, 2015 Shares in RBS shot up 4.2 per cent to 368.1p in early trading this morning after the bank reported profits had jumped 27 per cent in the three months to the end of June. Was that gentle creaking the sound of Royal Bank of Scotland moving one step closer to privatisation? The figures The bank said [...]
Royal Dutch Shell share price soars as it confirms 6,500 job cuts while £47bn takeover of BG Group “progresses well” July 30, 2015 Royal Dutch Shell's share price climbed this morning after confirming it is cutting 6,500 jobs while revealing a 35 per cent drop in profits for the three months to 30 June. The figures The oil giant is struggling amid falling prices and heightened competition. Profits were down more than a third to $3.4bn for [...]
Rolls-Royce profit before tax tumbles while dividends increase July 30, 2015 After it issued its fourth profit warning in less than 18 months, Rolls-Royce said today that its order book had roared – despite revenue and profits before tax falling. The figures Rolls-Royce said underlying revenue had fallen three per cent to £6.3bn in the first half of the year, compared with £6.5bn last year. The company said [...]