Tesco share price rises as bosses dip into their pockets and buy stake in troubled supermarket chain October 8, 2015 Tesco's board have thrown their support behind the embattled supermarket group by buying nearly half a million pounds worth of shares. Chief executive Dave Lewis has spent £200,000 of his own cash to buy his first 99,950 shares in the grocer. Non-executive directors Richard Cousins and Mikael Olsson have also invested in the business for the [...]
Volkswagen US boss Michael Horn apologies for emissions scandal and confirms three staff suspended October 8, 2015 Volkswagen’s US chief executive Michael Horn has apologised to US lawmakers over the emissions cheating scandal that has rocked the industry. He also confirmed media reports that three people at the company had been suspended. “On behalf of our company, and my colleagues in Germany, I would like to offer a sincere apology for Volkswagen’s [...]
Etsy share price falls as Amazon comes over all hipster and launches Amazon Handmade October 8, 2015 Amazon has just done the corporate equivalent of growing a beard and getting a tattoo sleeve, after it announced the launch of Handmade at Amazon, an online marketplace for "genuinely handmade items". Sound familiar? That's because it's already been done – by Etsy, the US e-commerce site which launched a $3.5bn (£2.3bn) IPO in April. [...]
M&G and Schroders among fund managers said to be thinking of quitting the Investment Association October 8, 2015 Several of the UK's largest fund managers are thinking of quitting the industry's biggest trade body, the Investment Association. M&G Investments and Schroders are set to quit the group, according to Sky News, which also reported that Fidelity Investments, Aberdeen Asset Management and Invesco Perpetual are looking at ending their connections with the association. Between [...]
Canadian pensions giant Omers moving into the Cheesegrater October 8, 2015 Omers, one of Canada’s largest pension funds, is moving into the City’s Cheesegrater skyscraper, which is owned by the company’s real estate arm Oxford Property and British Land. The company said yesterday it plans to make the 225-metre tower, formally known as the Leadenhall Building, its European headquarters after taking up 25,000 square feet [...]
Regency Hotel to become DoubleTree by Hilton after Crimson Hotels buys it for over £100m October 8, 2015 Crimson Hotels said yesterday it has bought the Regency Hotel in Kensington for more than £100m and struck a deal with Hilton to convert it to a DoubleTree by Hilton London brand. The hotel will be Crimson’s fourth under the DoubleTree brand after signing a franchise deal with the US hotelier last year. [...]
Value of European IPOs in 2015 drops following Chinese stock market crash October 8, 2015 Flotations on Europe’s stock markets raised 30 per cent less money in the third quarter than the same time last year, according to PwC, although the accountancy firm predicts a pick-up in activity before the year-end. China’s August stock market crash sent jitters across the globe, prompted businesses to put their listing plans on ice, [...]
Tottenham , Dartmouth and Folkestone: These are Britain’s high street rising stars October 8, 2015 Tottenham has been crowned one of the country’s “rising stars” as part of a competition to find the best high streets in Britain. The gritty north London suburb, which has been trying to shake off its recent history of violence and riots, was one of 10 high streets that came runner-up after missing out on [...]
Deutsche Bank’s share price rises despite warning of huge quarterly loss and reduced dividend payment October 8, 2015 Deutsche Bank's share price has gone up despite this morning's warning to investors that it expects to post a €6.2bn (£4.5bn) loss in its third quarter results. Germany's biggest bank said its dividend payment for the full year could be reduced or suspended, as write-downs at its corporate banking unit take their toll. Along with difficulties at [...]
Volkswagen share price rises as US boss Michael Horn admits he knew about “emissions non-compliance” last year October 8, 2015 Michael Horn, the head of Volkswagon in the US, has admitted he was made aware of “possible emissions non-compliance” by the company last year. In a testimony due to be presented to a panel of investigators at the House of Representatives today, Horn said the possibility was highlighted to him in a West Virginia University study [...]