Volkswagen chief executive Martin Winterkorn statement: Car boss asks for “trust in our journey” – but there is no mention of resignation yet September 23, 2015 Embattled Volkswagen chief executive Martin Winterkorn has said he would do anything for trust… but he won't do that. In a video statement issued this afternoon, Winterkorn said the car giant would do "everything necessary to reverse the damage. And we will do everything necessary to win back trust – step by step". It [...]
BBA Aviation’s share price down as it sets out deal to buy Carlyle Group’s Landmark Aviation for more than $2bn (£1.3bn). September 23, 2015 BBA Aviation's share price was down in mid-morning trading on the back of news that it could buy out private equity-owned Landmark Aviation for more than $2bn (£1.3bn). The British aircraft services provider confirmed this morning that it was making a $2.065bn offer for the Carlyle Group-owned business, which will be partly funded through a [...]
WANdisco share price slumps after posting another loss September 23, 2015 WanDisco's share price fell more than 10 per cent in early trading as the software group revealed yet more losses this morning. The figures The Aim-listed firm's overall loss for the first half of the year narrowed from $18.5m (£12.1m) 12 months ago to $17.1m, but the pace of change appears to be slower than [...]
FTSE 100 carbon reporting: After the Volkswagen emissions scandal, how do Britain’s blue chip companies stack up? September 23, 2015 Still reeling from the Volkswagen emissions scandal, FTSE 100 companies’ own carbon reporting has now been put to the test – and financial companies have been found wanting. BT has been named the FTSE’s greenest company, as the telecoms group was lauded for its “rigorous and far reaching carbon strategy” by Carbon Clear, the organisation [...]
Volkswagen recall: Deutsche Bank cuts Dax forecast as emissions scandal hits German share prices September 23, 2015 The fallout from Volkswagen's emissions scandal could hurt the wider German market for the next 18 months, Deutsche Bank has warned. The German lender this morning cut its forecast for the Dax for both 2015 and 2016. It now expects the blue chip index to end this year at 10,300 points – 1,000 points lower [...]
Volkswagen boss Martin Winterkorn could be replaced by Porsche chief Matthias Muller by Friday as emissions-cheating scandal escalates September 23, 2015 Volkswagen boss Martin Winterkorn is under growing pressure in the job as the car giant suffered a second day of billion-dollar losses to its share price following the emissions cheating scandal. Berlin newspaper Der Taggespiegel is reporting that VW's supervisory board will meet tomorrow, ahead of a conference scheduled for Friday when it is [...]
Volkswagen car recall emissions scandal: VW boss Martin Winterkorn clings on as heat rises September 23, 2015 Volkswagen chief executive Martin Winterkorn will today face the company’s supervisory board to explain his role in the emissions scandal engulfing the carmaker, amid reports his job is on the line. Last night New York Attorney General Eric Schneiderman issued a statement confirming his office would be investigating Volkswagen. He said: “No company [...]
BT promises faster and wider broadband internet coverage as fight kicks off between TalkTalk boss Dido Harding and BT CEO Gavin Patterson September 23, 2015 A war of words broke out between the UK’s telecom firms again yesterday, as TalkTalk boss Dido Harding accused BT chief executive Gavin Patterson of “grandstanding” with a series of pledges to improve broadband service unveiled yesterday. The BT boss said the company wants to “forge an ultrafast future for Britain and stand ready to [...]
Card Factory delivers a record profit but warns on wage rise September 23, 2015 Discount greetings card chain Card Factory reported a bumper first-half yesterday but became the latest retailer to warn that the government’s minimum wage rise could weigh on margins next year. The Wakefield-based company, which made its market debut in May last year, said pre-tax profits soared 72.3 per cent to reach £25.7m in the six [...]
Bank of America chief Brian Moynihan approved as chairman after shareholder vote September 22, 2015 Bank of America shareholders have voted in favour of chief executive Brian Moynihan retaining his chairman title, reversing a company bylaw that called for an independent chair. The vote was cast 63 per cent in his favour after a special meeting, despite attempts by some shareholders urging a vote against. Glass Lewis had argued that the [...]