Volkswagen emissions scandal latest: VW’s UK managing director Paul Willis will be grilled by MPs on Monday about the impact to the UK car industry October 11, 2015 Volkswagen UK's managing director Paul Willis is due to face MPs on the Transport Select Committee on Monday to answer questions on how the company’s external investigation is going and how it intends to rectify the damage the emissions scandal has caused. The Society of Motor Manufacturers and Traders' chief executive Mike Hawes will also be questioned [...]
Volkswagen emissions scandal: Everything you need to know about what’s happened so far, how to find out if your car will be recalled and which models have been affected October 9, 2015 It's been a tumultuous few weeks for Volkswagen. The emissions cheating scandal which broke in September has wiped billions off the car manufacturer's share price – but the hangover could last much longer. After it first emerged in the US in mid-September that VW had cheated on emissions tests, national governments across continents have launched investigations into the company and [...]
Coca-Cola pumps millions into scientific research disproving link between sugary drinks and obesity October 9, 2015 Coca-cola has spent millions of pounds on funding research bodies to disprove the link between drinking sugary drinks and obesity, it has been alleged. An investigation by The Times suggested the drinks giant spent £4.68m on setting up the European Hydration Institute, a body that recommends that people drink sports and soft drinks of the type [...]
Standard Chartered share price jumps as leaked memo from Bill Winters shows it will cut 1,000 senior management jobs October 9, 2015 New Standard Chartered boss Bill Winters has wasted no time in getting down to business, after he told staff the company is planning to cut a quarter – around 1,000 – of the bank's senior management roles. The Asia-focused lender has struggled as earnings slid over the past two years years, but since Winter's arrival earlier in the summer, [...]
Glencore share price lifted by plans to slash zinc production by a third October 9, 2015 Glencore announced this morning that it plans to cut zinc production by 500,000 tonnes each year. The reduction, which will knock off around a third of the mining company's current zinc output, is taking place to counteract plummeting prices of the metal. Since May, zinc has lost around 30 per cent of its value. Shares [...]
Worldpay IPO draws near as price range narrows to 235-250p October 9, 2015 Payments processing company Worldpay’s IPO is drawing near, after the company narrowed its IPO price range to 235-250p in what will be the UK’s biggest float in two years. The company, owned by Advent International and Bain Capital, recently confirmed plans to raise £890m through a float on the London Stock Exchange in October. The news [...]
John Lewis and BlackRock to convert Beechwood shopping centre into £30m Cheltenham store October 9, 2015 Cheltenham's Beechwood shopping centre is being converted into a new £30m John Lewis department store, the retailer confirmed today. John Lewis, BlackRock and Cheltenham Borough Council are combining forces (and resources) to transform the centre – which is currently home to rival department store Debenhams and high street staple Next – over the next two [...]
Elon Musk: Apple hires the engineers Tesla fires October 9, 2015 Elon Musk has lashed out at Apple, suggesting the company is the “Tesla graveyard” which hires his company's rejects. The outspoken chief executive and billionaire investor has hit back at suggestions Apple has been pinching Tesla’s engineers as it pushes into the car sector, saying in an interview with German newspaper Handelsblatt that Apple is where you go [...]
USC workers win case against Mike Ashley’s Sports Direct October 9, 2015 Workers at fashion chain USC that was put into administration by parent company Sports Direct earlier this year have won a legal battle against the firm, giving them redundancy pay that could run into thousands of pounds each. Staff had complained that they were given just 15 minutes notice before they lost their jobs. In [...]
Lloyds share sale: More than 120,000 investors clamour for £2bn retail shares through Hargreaves Lansdown alone as Treasury reduces stake October 9, 2015 Demand for Lloyds Banking Group shares among individual investors is expected to dwarf that of Royal Mail's sell-off. Earlier this week, the government revealed plans for a £2bn retail sell off of shares, offering investors a discount of five per cent of market price. Those who keep their holding for more than a year will receive [...]