Boards must be the voice of reason for young entrepreneurs like Tinder’s Sean Rad November 20, 2015 An interview given this week by Sean Rad, the founder and chief executive of dating site Tinder, was eyebrow-raising for several reasons. First was the description of a woman “begging” him for sex and an admission that he conducted rather ominous-sounding “background research” on a female journalist who was critical of Tinder. But more importantly, Rad [...]
John Lewis tills ring with £100m of weekly sales in countdown to Christmas as Black Friday 2015 draws near November 20, 2015 John Lewis has posted a jump in sales to deliver its first £100m week of the festive season, the department store group revealed today. Sales in the week ending 14 November increased by 1.5 per cent on last year and by 15.8 per cent on the previous week, boosted by its Man on the Moon [...]
Public Accounts Committee slams Network Rail for serious planning and budgeting failures, including an “unacceptable” £1.2bn overspend on Great Western Main Line project November 20, 2015 Network Rail's five-year investment programme contains serious planning and budgeting failures, according to a Public Accounts Committee (PAC) report released today. In particular, the report calls the projected £1.2bn overspend on electrifying the Great Western Main Line between London and Cardiff “staggering and unacceptable”, and says there is “far too much uncertainty” about costs and delivery [...]
Ted Baker posts dramatic jump in third quarter sales November 19, 2015 Retailer Ted Baker's sales soared double-digits in the third quarter thanks to a popular autumn/winter line and international store openings, the company reported in an statement this morning. Sales rose 20.5 per cent in the last three months while store sales jumped 18 per cent with openings in Stansted Airport, Amsterdam, Malibu, Toronto and Hawaii. [...]
Mothercare more than doubles profits as UK turnaround plan pays off November 19, 2015 Baby goods chain Mothercare more than doubled profits in the first half of the year, in a sign that a revamp of its struggling domestic business is on track. Underlying pre-tax profits rose by 112 per cent to £7m in the six months to 10 October, thanks to a pick-up in trading at its UK [...]
Volkswagen scandal compensation: Australian law firm launches new class action claim on behalf of VW car owners November 19, 2015 An Australian law firm today launched a class action lawsuit on behalf of owners Volkswagen (VW) cars. Maurice Blackburn Lawyers has said that more than 10,000 people have already registered for their class action claim, which will also cover affected Skoda and Audi vehicles and will target the German parent companies, not just the Australian [...]
Uber introduces a “business profile” option to make expensing work trips easier November 19, 2015 Uber has launched a new “business profiles” option to make sure people don't end up paying for work trips with their own money. It gives every Uber user the option of having an additional profile associated with work, so that all they have to do is select one or the other when calling an Uber. The idea [...]
Standard & Poor’s: Dismantling Europe’s old nuclear power plants will run up a €100bn bill for EDF, E.ON, RWE and others November 19, 2015 Dismantling Europe’s old, uneconomic power plants will impose heavy costs on Europe’s biggest operators, something which could strain their balance sheets, and hit their credit rating. Nuclear liabilities of the largest eight nuclear plant operators in Europe totaled €100bn at the end of last year, representing around 22 per cent of their aggregate debt, according [...]
Match Group IPO: Shares surge 12pc on stock market debut after Tinder chief Sean Rad’s comments November 19, 2015 Match Group, the owner of dating app du jour Tinder, match.com and OK Cupid, has made its stock market debut, with shares rising as much as 12.5 per cent. Priced at $12 yesterday – the low end of expectation – shares hit $13.50 in early trading, falling short of high end pricing expectations of $14 per share. Brushing [...]
Square IPO pop: Jack Dorsey’s shares soar 50pc on market debut calming tech bubble fears after low pricing November 19, 2015 Shares in US mobile payments company Square have made a spectacular debut, with shares opening at $11.20 on the New York Stock Exchange, 24 per cent above its initial pricing. They rocketed as much as 50 per cent, surpassing the $14 mark, before falling back down in afternoon trading to close at $13.16. The startup founded by [...]