AA share price falls as company reports pre-tax loss and warns of future bumps in the road September 22, 2015 AA's share price tumbled this morning after the car group revealed a £63.6m loss following its refinancing. The figures The so-called fourth emergency service, which in March raised £935m to cut down its debt mountain, has had a difficult first half, with revenues down 1.4 per cent to £484.6m in the six months to the end [...]
RSA Insurance Group’s share price plunges as Zurich tells RSA: It’s not you, it’s us September 22, 2015 RSA Insurance Group’s share price plunged yesterday after rival firm Zurich revealed it was walking away from a £5.6bn takeover bid. RSA’s share price closed down 20.84 per cent as investors digested the shock news. Zurich’s share price was also down, albeit a less remarkable 2.79 per cent. Zurich said it was abandoning [...]
Rollercoaster day for bonds in Portugal, just two weeks before national elections September 21, 2015 Portuguese government bonds went on a rollercoaster ride yesterday as the country gears up for national elections in two weeks. The interest rate on Portugal’s 10-year government bond dropped to a one-month low of 2.46 per cent early in the morning. But later in the day the rate rose as high as 2.56 per cent. [...]
JCB says 400 jobs at risk because of overseas construction slowdown in China, Russia, and Brazil September 21, 2015 Digger maker JCB has said up to 400 jobs are at risk because of a slowdown in construction overseas. "Market conditions in the construction equipment sector have been difficult for some time, but they have worsened quite rapidly in recent weeks. The situation is not about to improve, certainly not in the short term," said [...]
Treasury Select Committee chairman Andrew Tyrie MPs demands proof that taxpayer is getting value for money in RBS sale September 21, 2015 Treasury Select Committee (TSC) chairman Andrew Tyrie is demanding to see what advice the government received from UK Financial Investments – the agency that manages the public stake in bailed-out banks – before it started to sell off shares in Royal Bank of Scotland last month. Tyrie has written to James Leigh-Pemberton, executive chairman of [...]
House of Fraser poaches John Lewis’ chief technology officer Julian Burnett September 21, 2015 House of Fraser has poached John Lewis' technology boss as its new chief information officer. Julian Burnett will join the business from its rival department store, where he had been chief technology officer for the past three years, on 5 October, taking on the reins from interim Peter Marsden. He will join the executive [...]
Volkswagen share price drops to near six-year low wiping billions from value after boss Martin Winterkorn apologises for misleading customers over emmissions September 21, 2015 Volkswagen (VW) shares are down 20 per cent, falling just shy of a six-year low, wiping billions from the company's value. The drop comes after chief executive Martin Winterkorn apologised on Sunday for manipulating the carbon emissions data from Volkswagen and Audi vehicles. He said in a statement: “I personally am deeply sorry that we [...]
AO World share price falls despite being on track for revenue jump September 21, 2015 Shares in AO World have fallen 3.9 per cent despite the online electricals giant saying it is on track to report a 20 to 21 per cent jump in second quarter sales. Speaking at a Capital Markets Day being held at its Bolton headquarters today, chief financial officer Mark Higgins said AO.com sales are expected [...]
CMA energy market investigation report pushed back six months September 21, 2015 Plans by the competition watchdog to remedy the energy market and make it easier for people to switch between providers have been put back by six months. The Competition and Markets (CMA) watchdog will now conclude their investigation by next summer rather than by the end of the year, as had been expected, giving energy [...]
Pan European Wi-Fi air passengers coming after partnership announced by Inmarsat and Deutsche Telekom September 21, 2015 European air passengers will now be able to Skype, shop online and send emails in-flight after Inmarsat and Deutsche Telekom announced they will team up to provide "in-flight high-speed internet access", providing greater connectivity than Wi-Fi currently offered on some flights. Under the partnership, Inmarsat, the FTSE 100-listed satellite communications company, will provide "pan-European" satellite [...]