Mumsnet pulls Thomas Cook adverts over Corfu deaths compensation scandal May 20, 2015 Mumsnet has pulled Thomas Cook adverts from its website after its users protested. The travel company was embroiled in a scandal after it claimed a payout from a hotel in Corfu where two children died in 2006. Mumsnet said Thomas Cook was also keen for the adverts to be taken down, as they were inspiring [...]
US officials hand down multi-billion forex-rigging fine to UBS, JPMorgan, RBS, Citicorp and Barclays May 20, 2015 US officials have confirmed the multi-billion-dollar bill being paid by five of the world's biggest banks for their involvement in the forex-rigging scandal. JPMorgan Chase, Royal Bank of Scotland, Citicorp and Barclays will plead guilty to US criminal charges, paying a total of $5.6bn to settle the allegations that date back to 2007. UBS is [...]
Forex-rigging scandal: Barclays given largest fine in FCA history May 20, 2015 Barclays has been fined £284.4m by the Financial Conduct Authority (FCA) for failing to control business practices in its London foreign exchange operations. The bank's "inadequate and ineffective" control over its forex floor led to the biggest fine ever handed out by the FCA. Last year the bank opted out of a mass settlement in [...]
Thomas Cook chief executive apologises for reaction to Corfu deaths as it trims losses with “substantially improved” performance May 20, 2015 The travel agent may have reported higher profits, but its reputation has taken a battering this week, after it emerged it had failed to apologise to the parents of Bobby and Christi Shepherd, the two children who died from carbon monoxide poisoning in a Corfu hotel in 2006. Read more: Thomas Cook donates £1.5m Corfu compensation [...]
Zoopla share price falls as it loses nearly a quarter of its agents May 20, 2015 The figures Shares in property listings site Zoopla fell 2.74 per cent to 223.7p in mid-morning trading, after it posted figures showing its membership fell 16 per cent to 16,076, in the six months to the end of March, down from 19,239 during the same period a year ago, while the number of estate agents signed with its website fell 23 per cent to 12,449, [...]
Hargreaves Lansdown share price falls as costs mount – although pensions savers aren’t buying Ferraris May 20, 2015 When the chancellor first announced plans to lift rules forcing pensions savers to buy annuities in 2014, much was made of the fact a generation of pensioners could go and splurge their pension pots on Ferraris. But two months after savers were given access to their pensions, Hargreaves Lansdown has said people are being eminently [...]
Burberry share price falls as the group lowers its outlook for 2016 May 20, 2015 Shares in Burberry fell more than 5.4 per cent this morning after the iconic British brand lowered its guidance for the full year, saying wholesale and retail profit for 2016 would come in around £40m below expectations. The figures Underlying revenues at luxury brand Burberry rose 11 per cent to £2.5bn in the full year to [...]
UBS to pay US authorities $545m over forex-rigging scandals May 20, 2015 UBS is to pay $545m (£351.7m) to US authorities to settle a series of investigations into the bank's alleged rigging of the foreign exchange markets and Libor. The Swiss bank confirmed the total, to be paid to the Department of Justice, the board of governors of the Federal Reserve and the Connecticut Department of [...]
SSE share price edges down as it announces plans to close Ferrybridge power station May 20, 2015 The figures Being an energy giant isn't always easy these days – but results posted today showed profits before tax at SSE rose 24 per cent in the year to the end of March to £735.2m, from £592.5m the year before, although operating profits stayed flat, at £1.88bn. But the government's push to persuade energy customers to shop around more [...]
Marks & Spencer’s share price rises after it posts first profit increase in four years May 20, 2015 Marks & Spencer has beaten expectations as its returns to profit growth – but its full year results show a mixed performance across the group. Nevertheless investors were impressed with shares rising 1.4 per cent to 593p in mid-morning trade. [stockChart code="MKS" date="2015-05-20"] The figures Marks & Spencer has beaten expectations on its underlying pre-tax [...]