TalkTalk’s share price tanks again after cyber attack and data breach October 26, 2015 TalkTalk's share price is taking a pounding again. In morning trading its share price plummeted after a hacking crisis that has seen more than a billion items of customer data stolen from its website. In mid-morning trading TalkTalk shares were down 9.42 per cent. Read more: Chief exec Dido Harding comes out fighting over data hacking crisis Last [...]
Aberdeen Asset Management share price jumps, despite denying reports it is for sale October 26, 2015 Aberdeen Asset Management's share price jumped 3.9 per cent to 365.1p in mid-morning trading, amid reports the company is up for sale. A report in the Financial Times yesterday suggested that the FTSE 100 company's founder and chief executive, Martin Gilbert, was looking for potential buyers in order to turn around its fortunes. However, a senior source [...]
Tesco results analysis: Why earning mis-statements are like London buses October 26, 2015 Earnings mis-statements are like London buses, it turns out: you wait ages for one, before two turn up at once. Or that's according to a new study, anyway, which concluded that when one company is found to have mis-stated its earnings, its competitors in that industry could be incentivised to follow suit, leading to even more earnings mis-statements. But [...]
Sign of the times? Majestic Wine abandons six bottle minimum purchase October 26, 2015 Is this a sign of how bad things have really become for food and drink retailers? Majestic Wine, the middle classes' favourite mass booze retailer, has just ditched one of its main rules – namely, that all customers are required to buy a minimum of six bottles. Gasp. In a statement today, the company said [...]
Hargreaves Lansdown hires Amlin chief investment officer Jayne Styles as new investment committee chair October 26, 2015 Hargreaves Lansdown has hired Jayne Styles as an independent non-executive director and chairman of the asset manager's investment committee. Styles has been Amlin's chief investment officer since 2002, where she oversees strategy, governance and operations of a multi-manager portfolio totalling £4.25bn in global assets. She is also a member of the Amlin management committee, which sets corporate strategy for [...]
WPP posts sales growth of 3.3 per cent but warns of caution among its clients as China slowdown takes hold October 26, 2015 WPP has posted net sales growth of 3.3 per cent as it warns of caution among clients The figures Third quarter revenues at the advertising giant were up 5.9 per cent at £2.93bn for the third quarter. Meanwhile, net sales rose 3.3 per cent to £2.5bn. Net new businesses was reported as £3.2bn in the first nine [...]
Professional services firm Baker Tilly rebrands as RSM across all brands October 26, 2015 Professional services firm Baker Tilly will today become RSM, giving the network’s firms the same name globally. The firm, which has 730 offices in more than 110 countries, including 35 offices across the UK, is the seventh-largest network of audit, tax and consultancy firms in the world. Last year, the RSM network boosted its revenues [...]
US luxury firm Coach to move into Jaeger’s flagship on Regent Street October 26, 2015 AMERICAN luxury goods group Coach is moving into Jaeger’s Regent Street flagship as the retailer packs its bags after more than 80 years on the site. Jaeger and the Crown Estate, which owns the freehold to the 200-206 Regent Street store, have agreed to sell the lease to Coach, which will relocate from its smaller [...]
M&A ranks last on executives’ priority list despite record activity October 26, 2015 Driving organic growth, not M&A, should be a top priority for businesses according to a survey of senior executives released today, despite a record-smashing year of deals across the globe. The survey carried out by interim management services firm Interim Partners found that over half (52 per cent) of interim executives thought that pursuing organic growth [...]
German discounter Aldi pledges to pay all UK staff above National Living Wage October 26, 2015 Aldi has set out to trump its supermarket rivals on pay by announcing today that it will pay all UK staff "significantly" above the living wage. The discount food retailer said all UK employees will be paid at least £8.40 an hour, and £9.45 in London from February 2016. This is ahead of the government’s national living wage of £7.20 an [...]