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 [...]
Lonmin share price falls as shareholders approve crucial rescue plan November 19, 2015 Investors in Lonmin have provisionally approved a rescue plan to enable the embattled platinum miner to raise $407m (£266) through a share sale, as it attempts to stay afloat amid a commodity price storm. Nearly 90 per cent of shareholders backed the South African producer's rights issue, paving the way for it to sell billions of shares at a huge market [...]
Pfizer and Allergan speed up $150bn mega-merger talks November 19, 2015 Pfizer has hastened discussions with Allergan over a potential acquisition, according to reports. Ireland-base Allergan confirmed at the end of last month it was in talks to join forces with its US rival, but according to a source close to the matter the decision making process has picked up pace. Pfizer is said to be [...]
FCA report into HBOS collapse: Former HBOS senior staff to be investigated over collapse November 19, 2015 Former senior managers of banking group HBOS are set to be investigated following a report from banking regulators into the failed bank published yesterday. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) three year report into failures at the bank found that senior managers and the board of the bank were ultimately responsible [...]
FTSE 100 index opens up on Royal Mail, Johnson Matthey and miners November 19, 2015 The FTSE 100 opened 0.7 per cent higher this morning, at 6,322 points, led by gains in Royal Mail, Shell, BG and Johnson Matthey. Royal Mail's share price increased 4.1 per cent to 18.6p as markets opened , after reporting progress in its cost-cutting programme, which left revenue largely flat against difficult market conditions. The company reported [...]
Royal Mail share price rises as it reports progress in cost-cutting programme – but the second half will depend on the Christmas period November 19, 2015 Shares in Royal Mail jumped four per cent to 472.4p after its first-half results showed it's making headway as it accelerated its cost cutting programme and says the outlook for letters and parcels markets remains unchanged. The figures Royal Mail reported revenue of £4.4bn for the half year ended 27 September, two per cent down from the £4.5bn for [...]