Which? outraged by TalkTalk’s hard line on compensation claims – but there may be a loophole to avoid paying a termination fee October 28, 2015 TalkTalk took a hard line on customers hoping to end their contracts after the massive hack against the telecoms giant. Consumer rights groups are enraged – but a loophole may make it possible to leave without paying after all. The prospect of a mass exodus of TalkTalk customers worried about the safety of their data [...]
Meggitt share price tumbles as it warns on full-year profits and considers 300 job cuts amid slow sales October 28, 2015 Shares in Meggitt tumbled as much as 22.9 per cent this morning after the engineering company warned on its full-year profits amid challenging market conditions, which could lead to 300 jobs cuts. The FTSE 100-listed firm said challenging trading conditions would lead to full-year underlying operating profit coming in "meaningfully below" its current estimate of £369m. In response, Meggitt could axe 300 jobs globally [...]
Lloyds Banking Group’s share price falls as it reports 28 per cent increase in profits before tax as PPI lingers on October 28, 2015 Lloyds Banking Group's share price was down 4.7 per cent at 73.7p in early trading as it revealed a large rise in pre-tax profits, but a higher-than-expected drop in underlying profits, despite a fall in costs. The figures The banking group posted a 28 per cent increase in profits before tax for the third quarter, up [...]
Volkswagen’s share price rises as the company reports a net loss and admits earning targets for 2015 will be adjusted October 28, 2015 Volkswagen's share price rose three per cent in early trading as it reported a €1.67bn (£1.2bn) loss after tax for the third quarter. The loss was largely the result of the €6.7bn charge VW said it will take to cover the costs of the emissions crisis. Or, in its words, the "diesel issue". Last year VW reported a profit after tax [...]
British American Tobacco share price rises on better-than-expected sales October 28, 2015 Sales at the world’s second-largest tobacco firm beat expectations, but exchange rates are still a headache and British American Tobacco warned it hasn’t been left unaffected by the “slower than expected” global recovery. The figures British American Tobacco reported sales growth of 4.2 per cent in the first nine months of the year, ahead of analysts’ [...]
BT share price rises after EE merger “provisional” thumbs up from Competition and Markets Authority October 28, 2015 BT shares opened six per cent higher this morning, after the telecoms giant was given a provisional thumbs up from the Competition and Markets Authority (CMA) on its £12.5bn bid to buy EE. The regulator said the deal is "not expected to result in a substantial lessening of competition in any market in the UK". CMA's inquiry chair John Wotton [...]
EE’s Olaf Swantee plans to boost UK business by billions with push into business-to-business 4G October 28, 2015 EE is flirting more with the business-to-business sector, as the telecoms giant claims that better wifi could boost the UK’s companies by billions of pounds. The company’s chief executive Olaf Swantee said to City A.M. that this is an important growth sector for EE: We’ve shown what 4G can do for consumers, and now businesses [...]
Barclays confirms Jes Staley as new chief executive October 28, 2015 Barclays has confirmed Jes Staley as its new group chief executive. The bank said this morning that Staley will take up his new job on 1 December. Barclays chairman John McFarlane said: “Barclays is an incredibly important, broad and complex business. Appointing an individual with the business scope, seasoning and track record is a difficult challenge. "In [...]
FTSE extends falls after commodities drag down index – London Report October 28, 2015 Shares linked to the economic cycle gave up ground yesterday over concerns on growth in some countries and an oversupplied commodity market. The blue-chip FTSE 100 index fell 0.8 per cent to 6,365.27 points, its biggest daily loss in almost two weeks. Investors avoided strong bets ahead of the outcome of a two-day Federal Reserve [...]
Apple released its full-year results and broke records October 27, 2015 Here are the five facts you need to know about Apple's record results: Apple made more than $1bn a week in profits in the last 12 months. Apple's $234bn full year revenue dwarfs Ireland's GDP (of $227bn). And Greece's, which is $139bn. Perhaps it could lend a hand with some debt relief? And even oil-rich [...]