Payday lender CashEuroNet UK agrees with FCA to compensate nearly 4,000 customers to the value of £1.7m November 4, 2015 CashEuroNet UK, which trades as Quick Quid and Pounds to Pocket, has agreed with the Financial Conduct Authority (FCA) to compensate nearly 4,000 customers to the value of £1.7m. The payday lender has agreed that 2,523 customers will have their loan balances written off, 961 will have interest paid on the unaffordable part of their [...]
National Grid orders generators to make more power after “multiple plant breakdowns” November 4, 2015 National Grid has asked the UK's power network to generate more electricity after "multiple plant breakdowns". The company issued a notice asking for more generation to be brought onto the system, saying an additional 500 MW were needed for between 4.30 and 6.30pm. National Grid has previously warned that the UK faced the "tightest winter [...]
Groupon’s share price is in freefall after posting disappointing results November 4, 2015 Groupon's share price has tumbled over 30 per cent as markets in America opened today, after having posted disappointing results yesterday. The online retailers share price was 30.65 per cent down as markets opened, at $2.80. Yesterday the company revelled its results for the third quarter of 2015, showing that revenues had dropped slightly to $713.6m (£462.9m), [...]
Tesla share price surges 10 per cent on open as firm reports jump in revenue November 4, 2015 Shares in Tesla Motors leapt up 10 per cent on market open today, after the firm reported revenue of $936.8m (£607.5m) for the third quarter of 2015, up 10 per cent from $851.8m in 2014, late last night. The company recorded net losses of $229.9m during the three months to 30 September, widening losses of $74.7m reported in the [...]
Bitcoin price has smashed the $500 mark November 4, 2015 Bitcoin has gone through the roof, with the cryptocurrency passing $500 – a new 2015 high. The digital currency has surged 50 per cent in the past five days alone, as its gains have begun accelerating dramatically on the back of the EU’s recent decision to accept it as a currency. Charles Hayter of CryptoCompare [...]
Volatile market conditions force smartcard maker Oberthur Tech to postpone French IPO November 4, 2015 Oberthur Technologies, the world's second largest manufacturer of smartcards, has postponed its IPO on Paris Euronext market citing concerns over current market conditions. Oberthur, which is owned by private equity group Advent International, had hoped to raise €500-€600m (£354m-£425m) pay debt and fund research into digital security. Didier Lamouche, chief executive of Oberthur, said: The decision [...]
London house prices: Peckham pre-fab shack auctioned for almost £1m November 4, 2015 More London house price madness: a tiny pre-fab bungalow on a street corner in Peckham has sold for just under £1m. The tumble-down bungalow, on the corner of Costa Street and McDermott Street, close to Peckham Rye Common, went under the hammer with a guide price of £590,000 – but sold for £950,000, at an auction on [...]
Mapped: The Crossrail effect – from Tottenham Hale to New Southgate, how London’s largest infrastructure project has affected house prices November 4, 2015 After years of talking about it, Transport for London finally began its consultation on Crossrail 2 last week, proposing a new route which will run from Cheshunt to Epsom, Chessington and Shepperton. But while the consultation has just begun, the second branch of Crossrail may have already began taking an effect on house prices [...]
Maersk Line is cutting 4,000 jobs to tackle slowing global trade November 4, 2015 Maersk Line is slashing jobs, hit hard by deteriorating global trade. The world’s largest shipping company, part of Danish group Maersk, is cutting 4,000 jobs at least, scaling back over the next two years. Maersk has also decided to cancel plans to buy six new ships and scale back its capacity to tackle the continuing [...]
VW share price drops again as emissions scandal widens to include CO2 data, and Porsche says it will stop selling some models November 4, 2015 Volkswagen shares plummeted almost 10 per cent this morning after the company revealed last night it had discovered "irregularities" in the CO2 levels in some 800,000 cars, which could cost a further €2bn. VW's share price was 9.5 per cent down at €100.45 in late morning trading. London Capital Group analysts said: "VW added €2bn to [...]