Volkswagen confirms Matthias Muller in top job amid company restructure as sales boss Christian Klinger leaves September 25, 2015 Porsche boss and Volkswagen board member Matthias Müller has been confirmed as the new chief executive of the embattled German car maker. Müller had been widely expected to take on the reins after Martin Winterkorn reluctantly fell on his sword earlier this week, as the emissions-cheating scandal gathered pace. This week Volkswagen has admitted as many [...]
Volkswagen emissions scandal: 2.8m cars in Germany fitted with emissions rigging device according to minister – reports September 25, 2015 A total of 2.8m cars in Germany were fitted with emissions-rigging devices, the German transport minister, Alexander Dobrindt, told MPs in the country's lower parliamentary house the Bundestag. This is the first time a country outside of the US has put a figure on the number of vehicles they expect to be caught up in the [...]
UKIP conference: Nigel Farage’s priority is leaving the European Union and not the party as he says Ukip will work with anybody for Brexit September 25, 2015 The UK Independence Party's annual conference is to start today, with leader Nigel Farage telling grass roots supporters the priority is to leave the European Union, and not the party, as he announced Ukip will work with anyone to bring about Brexit. Farage is to say that he is not deserting the party, but "winning [...]
Blackberry confirms a new Android smartphone called “Priv” – but investors aren’t wowed September 25, 2015 Blackberry has finally confirmed what it’s been hinting at for months: the struggling mobile phone manufacturer has been working on an Android-powered smartphone named Blackberry Priv. The phone, due to be released before the end of the year, was confirmed by the company’s chief executive John Chen when presenting earnings for the second quarter: Priv [...]
Starbucks pledges living wage and interest-free loans for rent to workers September 25, 2015 Starbucks has said it will pay the National Living Wage to all of its workers in the UK and will even offer its workers interest-free loans to help them with housing costs. Read more: Time's running out to reap goodwill from the living wage The coffee conglomerate said that, from November, all baristas – including those [...]
Why Bank of England hawk Ian McCafferty voted for an interest rate rise September 25, 2015 The Bank of England's (BoE) solitary hawk, Ian McCafferty, has said he voted for an interest rate rise at the September meeting because inflation risks overshooting its short to medium-term target. McCafferty said inflation is being held down by temporary factors such as sharp falls in oil and commodity prices, and that it should return to [...]
Glencore share price drops to its lowest point since listing on worsening commodities rout September 25, 2015 Glencore shares have fallen to their lowest point since listing, dropping below its 100p per share floor for a second time this week, as a global rout continues to pummel the embattled commodities giant. After a somewhat buoyant opening, Glencore has tumbled anew, falling 2.3 per cent over the course of the morning to trade [...]
Drax share price up as it withdraws from £1bn renewable energy project due to “critical reversals” in government support September 25, 2015 Drax's share price climbed this morning after the energy giant abandoned a £1bn carbon capture project because of the government's policy u-turn on renewable energy. Drax had committed to storing carbon dioxide next to its plant in North Yorkshie – the biggest coal-fired power station in the UK – but today said it was halting [...]
Volkswagen emissions scandal: VW now UK’s lowest ranked car brand, says poll September 25, 2015 Volkswagen has been in the spotlight over the last week, and for reasons it would have preferred to avoid. After it emerged that VW had rigged its cars with a device that could cheat an emissions test, the company announced it could have to recall 11m cars, set aside €6.5bn and Martin Winterkorn, the former [...]
Buy-to-let boom coming to an end? One in five landlords going out of business hit hard by tax break cuts September 25, 2015 Could the buy-to-let boom be coming to an end? The possibility of lucrative returns may have prompted many to invest in a buy-to-let property, but a new study suggests being a landlord may not be such a sure-fire investment after all. One in five landlords are forecast to be out of business within the next [...]