Vacuum cleaner wars: Bosch to sue Dyson over VW-style cheating claims October 28, 2015 Europe's vacuum cleaner wars just got a little more… heated. Bosch said today that it intends to sue rival Dyson over claims it cheated "like VW" in energy efficiency tests. Karsten Ottenberg, the chief executive of Bosch parent company BSH, said today: "James Dyson has a history of taking a very aggressive approach against his competitors and has a desire [...]
Santander UK non-exec Michael Amato jumps ship to join start-up digital bank Tandem October 28, 2015 A new start-up digital bank has poached high-profile directors from two of Britain's largest lenders. Michael Amato, a non-executive director of Santander UK and former Williams & Glyn John Maltby are set to join the board of Tandem, a new digital financial services company that has yet to receive regulatory approval but is nevertheless aiming for an official [...]
Booming London office demand drives vacancy rates to 15-year low October 28, 2015 London office vacancy rates dropped to a 15-year low during the third quarter of the year, new research shows, as increasing competition made space in the capital increasingly difficult to come by. As the economic recovery gathers pace, demand for office space has surged, thanks to businesses feeling more confident about their future prospects. Fears rents will [...]
RACE to the bottom for Ferrari share price? China sales put on the breaks after Tianjin port explosion October 28, 2015 Shares in freshly-IPOd luxury carmaker Ferrari remained below their IPO price of $52 today after it posted figures showing shipments to Greater China fell 24 per cent in the three months to the end of September. You can't blame the company: parent company Fiat Chrysler, which posted figures at the same time showing shipments to Asia Pacific had fallen [...]
Heineken sales up 5.4 per cent thanks to a hot summer October 28, 2015 Shares in the world's third largest brewer Heineken were trading up 2.94 per cent after a sunny set of third quarter results. The figures Heineken has earned a nice cold beer, with a 5.4 per cent rise in volumes sold, more than double estimates for a 2.6 per cent rise, thanks to strong performance in Europe and the Americas. [...]
Apple share price rises on record results October 28, 2015 Apple's share price has risen 2.89 per cent as markets opened in the US after record breaking results, which the company reported yesterday. The company had expected earnings per share for the three months to the end of September to hit the $1.87 – $1.88 mark, but beat expectations by a long way, with the figure coming in [...]
Twitter share price plummets after reporting user growth that failed to impress October 28, 2015 As American markets opened today Twitter's share price plummeted 10.6 per cent to $28, despite yesterday reporting revenue rising in the three months to 30 September. Yesterday, the tech giant reported monthly active users rose up 11 per cent year-on-year to hit 320 million, but this failed to impress investors. Twitter dragged fellow technology stocks down with it, [...]
Carl Icahn reveals AIG stake, calls for break up October 28, 2015 Activist investor Carl Icahn has revealed he owns a stake in AIG – and called for a break up of the the insurance giant. He called a split a "no-brainer" for increasing shareholder returns, and lamented AIG's "wait and see approach" to similar calls which have come from regulators. In an open letter to AIG chief Peter Hancock published on [...]
Iron ore price falls back below $50 mark for the first time in three months October 28, 2015 Iron ore fell below the $50 mark for the first time since July, as concerns over oversupply from China deepened, against a backdrop of falling global demand. Ore with 62 per cent content for immediate delivery to China slumped three per cent to $49.95 this morning, according to Metal Bulletin. Iron ore, a steelmaking raw material, [...]
Heathrow Airport revenues jump as boss insists it will “fill a gap in the UK’s long-term economic plan” October 28, 2015 The chief executive of Heathrow today said that the London airport's expansion would “fill the gap in the UK's long-term economic plan”, on the back of “robust” nine-month financial results. The group's revenue rose 4.1 per cent over the period to £2.07bn, while adjusted core earnings went up 4.4 per cent to £1.22bn. The company benefited [...]