Societe Generale to cut 550 jobs over next five years March 9, 2016 Societe Generale is to cut 550 jobs over the next five years. The bank confirmed it is targeting 550 job reductions in the back offices of its French retail banking network, resulting in the closures of six out of 20 locations. The French bank said the plan would not rely on mandatory redundancies. The move is part [...]
Amazon is going to lease Boeing planes in move to set up air delivery network March 9, 2016 Amazon.com is going to lease 20 Boeing aircraft as the online retailer makes a move toward setting up its own air delivery service. The online giant is going to lease Boeing 767 freighter aircraft, according to Air Transport Services Group (ATSG), and comes as the company has been testing drone deliveries. Amazon currently relies on [...]
BMW racks up another record year, pushed on by favourable currency headwinds as share price falls due to outlook for “slight” sales increase in 2016 March 9, 2016 German carmaker BMW's share price dropped this afternoon, despite posting a record breaking sixth year in a row. Shares dipped by two per cent immediately after the figures were released. Revenue, sales, and pre-tax profit all set fresh records at the luxury car firm, though investors baulked at the suggestion 2016 would see numbers only "slightly up" [...]
Zara owner Inditex to slow down store openings as consumers shift online March 9, 2016 Inditex shares rallied this morning after the world's largest fashion retailer posted a strong start to the year and said it will be slowing down the pace of store openings as consumers shop increasingly online. The Zara and Massimo Dutti owner said it plans to grow store space by six to eight per cent in the coming year compared with eight per cent [...]
Prudential share price up as company announces boost to profits for the full-year ended December 2015 and reveals a special dividend March 9, 2016 Share price for Prudential rose this morning as the financial services company revealed a boost to its profits for the year and awarded a special dividend. Operating profits for the group rose to £4bn, up 22 per cent on the year before. Business was booming in the UK, with operating profits from the company's UK [...]
Airlines in America introduce a class below economy March 9, 2016 Airlines in the US are further segmenting their customers, creating a new class for the particularly thirfty (or those who simply can't afford the cost of air travel as it stands). The lowest class will sit below economy, and is called "basic economy", first introduced by Delta airlines. It's now also been announced by United Airlines and [...]
Ryanair to launch private jet charter service to capitalise on demand March 9, 2016 Budget Irish airline Ryanair has today launched a corporate jet charter service, aiming to capitalise on growing demand for chartered jets. A customised Boeing 737-700 jet for corporate and group hire is available, seating 60 people and capable of flying to destinations up to six hours away. Read more: Private jet membership set to take off in [...]
FTSE 100 index opens flat as Prudential rises but miners extend losses after falling yesterdays March 9, 2016 The FTSE 100 index opened flat today, after it faltered yesterday on the back of weak Chinese trade data. The UK's blue-chip index rose 0.02 per cent to 6,126 points on the news. "The weakness of yesterday’s data merely serves to reinforce the importance of this weekend’s retail sales and industrial production data. A similarly abysmal showing here [...]
E.On’s share price falls after it reports a net loss after booking writedowns as chief executive Johannes Teyssen warns of a tough course ahead March 9, 2016 E.On has warned that pressures on the company in 2015 will not let up into 2016 as it reports a net loss. Its share price fell over 2.5 per cent on the news. The figures E.On reported a net loss of €7bn for 2015, down from a net loss of €3.1bn a year ago. That came after [...]
Trunki vs Kiddee Case intellectual property judgement due at Supreme Court today – but what’s the big deal? March 9, 2016 It may look like fun and games, but Trunki’s design is big business. So big, in fact, that Magmatic, the company behind the popular children’s "ride-on" suitcases, has gone to the Supreme Court to defend its intellectual property rights – and the judgement is due out today In a case heard by the Supreme Court in [...]