Italian bank UniCredit to cut 18,200 jobs November 11, 2015 Italian bank UniCredit is planning to cut 18,200 jobs by 2018 in an acceleration of cost cutting measures. The bank today unveiled a strategic plan to become more efficient and profitable, planning to slash thousands of jobs as well as focus on "the new digital agenda, underpinned by €1.2bn in investments over 2016-18", in order to accelerate [...]
Tinder wants to make it easier for you to get a match November 11, 2015 Here’s something worth swiping right over: wildly popular dating app Tinder has released an update making it easier for you to match with potential partners. The soon to IPO app that’s boiled down the art of getting a date to a simple swipe left or right has enhanced its matching algorithm, with the official goal [...]
SSE pre-tax profits jumps but outlook “challenging” amid UK energy policy and low commodity prices November 11, 2015 The figures: SSE's adjusted profit before tax rose by 48.2 per cent to £548.8m for the six months ending 30 September. The UK's second-biggest energy supplier's total operating profit jumped 32.5 per cent to £701.9m from £529.8m during the same period a year earlier. The increase was driven by its wholesale business segment, where operating profit rose almost six-fold to [...]
GoCompare owner Esure’s performance edges upwards in third quarter of 2015 but share prices take a dip November 11, 2015 Gross written premiums have edged up slightly for insurer Esure Group for its third quarter of 2015, standing at £155m, compared to £149.6m for the same quarter last year. The company, whose brands include Sheilas' Wheels, also reported positive year-to-date figures, with gross written premiums for the last nine months of £430.5m, compared to £410m [...]
Bosch-Dyson vacuum wars: European Court of Justice dismisses Dyson’s action over energy label regulations November 11, 2015 Are Europe’s vacuum wars over before they really got started? The European Court of Justice (ECJ) has dismissed legal action from Dyson hoping to change European energy label regulations. The ruling comes shortly after the British vacuum maker lashed out at rival Bosch, claiming it had cheated “like VW” in energy efficiency tests. Dyson had [...]
ICAEW grants 100th alternative business structure licence in a year to Essex accountants Tiffin Green November 11, 2015 The Institute of Chartered Accountants in England and Wales (ICAEW) has awarded its 100th alternative business structure (ABS) licence, one year since it was granted the power to do so. The lucky recipient was Tiffin Green, a five-partner practice based in Essex with a focus on small and medium businesses. “ICAEW became a regulator and licensing [...]
Barratt Developments shares fall despite 20 per cent jump in sales November 11, 2015 Shares in Barratt Developments fell this morning despite Britain’s biggest housebuilder reporting a strong start to the autumn selling season thanks to “high levels of consumer demand” across all regions. Forward sales (including joint ventures) jumped by 20.7 per cent to £2.5bn across 11,033 plots in the 19 weeks to 8 November compared with £2.07bn [...]
Rightmove sees off threat from OnTheMarket.com as it increases market share November 11, 2015 More proof Rightmove is rising above estate agent bickering, after research by analysts Liberum found it's grabbed market share from new rival OnTheMarket.com. It was feared the property portal would be hit by the launch of OnTheMarket in January. One of the conditions of listing on the site, an estate agent-owned mutual designed to increase competition among [...]
AstraZeneca issues $6bn of bonds to fund ZS Pharma acquisition November 11, 2015 AstraZeneca has issued $6bn worth of bonds so that it can finance its acquisition of biotech company ZS Pharma. The British drugmaker said the move would have no material impact on its financial guidance for the year, and that it will help it to meet certain repayment obligations. The bonds will be released in a series [...]
John Lewis opens its first European store as it expands into the Netherlands November 11, 2015 John Lewis may be the chattering classes' favourite department store at home – but so far, it hasn't ventured into Europe. But that's about to change: today the retailer announced plans to open its first European offerings – in the Netherlands. The company said it will open three "shop-in-shops" in de Bijenkorf department stores. The first three [...]