Flipkart backs off from Airtel deal amid social media backlash over net neutrality threat April 14, 2015 India’s biggest online retailer Flipkart succumbed to social media protesters yesterday after announcing it was backing away from a controversial deal with phone network Airtel. Flipkart had faced an increasingly hostile social media backlash after announcing plans to allow its customers to freely browse Airtel’s network while picking up their data costs. Critics had slammed [...]
Phones 4U creditors to receive up to 24p in the pound says PwC April 14, 2015 Collapsed mobile phone retailer Phones 4U will return up to 20-24p in the pound to senior creditors, but suppliers and the taxman will get relatively little from the administration. PwC, which was appointed administrator in September last year, said super senior noteholders – typically hedge funds and other asset managers – will receive nearly [...]
JPMorgan profits rise beyond expectations in the first quarter April 14, 2015 During the first financial quarter of 2015, JPMorgan's profits reached $5.9bn (£4bn) – a 12 per cent increase on last year's figure of $5.3bn. This was equivalent to $1.45 per share, which beat analyst expectations of $1.41 per share. Revenue was also up, at $24.8bn – a rise of four per cent. It's the [...]
Hargreaves Lansdown share price falls as co-founder Peter Hargreaves leaves board after 34 years April 14, 2015 Hargreaves Lansdown's share price dropped 4.4 per cent this afternoon as it revealed co-founder Peter Hargreaves was stepping down from the board of the company that bears his name. Hargreaves, who along with Stephen Lansdown set the Bristol business up in 1981, is stepping down from the Hargreaves Lansdown board with immediate effect. He [...]
Asos hires Capquest boss Helen Ashton as new chief financial officer April 14, 2015 The chief financial officer merry-go-round continues. Today, it's the turn of Asos, which has hired Helen Ashton to take on the role being vacated by Nick Beighton. Ashton, who is currently chief executive of debt management business Capquest, will join in September. She will join the board at the same time. Beighton has already moved [...]
British Land splashes £210m on Paddington Central site ahead of Crossrail arrival April 14, 2015 British Land has snapped up a site in Paddington where Crossrail is set to push up property and rental prices in a £210m deal. The property giant, which already owns part of the massive Paddington Central scheme, has bought One Sheldon Square, a 200,000 sq ft, nine-storey office building, currently home to Visa Europe, from a [...]
Sports marketing company TLA Worldwide records profit and revenue growth in 2014 April 14, 2015 The figures Athlete representation and sports marketing business TLA Worldwide recorded a grand slam set of results for 2014, with growth scored in revenue, profit and earnings per share. The Aim-listed company, which manages leading athletes, events and leagues in sports including baseball, golf, rugby, American football, cricket and football, reported a 12 per [...]
Quindell lines up Mark Williams as finance chief after Slater & Gordon sale April 14, 2015 Quindell has lined up a new chief to take the reigns of its finances after the sale of its legal services arm to Slater & Gordon. Mark Williams, part of the consultancy which was brought in to review Quindell's business in January following the departure of chairman Rob Terry, will join the firm when the [...]
Poundland’s quids in: Sales surpass £1bn at discount retailer for the first time April 14, 2015 Sales at Poundland have smashed past the £1bn mark for the first time. The figures Sales at Poundland for the full year to the end of March were £1.1bn, up almost 12 per cent on the previous year's sales of £997m on a constant currency basis. It expects pre-tax profits to be in line with [...]
Nina Ricci heiress Arlette found guilty in HSBC Swiss tax fraud leaks case April 13, 2015 Arlette Ricci, heiress to the Nina Ricci perfume and fashion fortune, has been found guilty of tax fraud in a case prompted by a leaked list of people who used the services of HSBC in Switzerland. A Paris court sentenced Ricci, the 73-year-old granddaughter of co-founder Nina Ricci, to three years in jail with two [...]