FTSE 100 carbon reporting: After the Volkswagen emissions scandal, how do Britain’s blue chip companies stack up? September 23, 2015 Still reeling from the Volkswagen emissions scandal, FTSE 100 companies’ own carbon reporting has now been put to the test – and financial companies have been found wanting. BT has been named the FTSE’s greenest company, as the telecoms group was lauded for its “rigorous and far reaching carbon strategy” by Carbon Clear, the organisation [...]
Volkswagen recall: Deutsche Bank cuts Dax forecast as emissions scandal hits German share prices September 23, 2015 The fallout from Volkswagen's emissions scandal could hurt the wider German market for the next 18 months, Deutsche Bank has warned. The German lender this morning cut its forecast for the Dax for both 2015 and 2016. It now expects the blue chip index to end this year at 10,300 points – 1,000 points lower [...]
Chinese economy: Slowdown fears renewed as manufacturing industry activity falls to new low September 23, 2015 China’s manufacturing sector has fallen to a six-and-a-half year low, renewing fears of a slowdown in the world’s second largest economy, according to a survey. The Caixin/Markit manufacturing purchasing managers’ index (PMI) fell from 47.3 in August to 47 in September, missing expectations of a 47.5 reading. A figure below 50 suggests contraction in manufacturing, [...]
Volkswagen boss Martin Winterkorn could be replaced by Porsche chief Matthias Muller by Friday as emissions-cheating scandal escalates September 23, 2015 Volkswagen boss Martin Winterkorn is under growing pressure in the job as the car giant suffered a second day of billion-dollar losses to its share price following the emissions cheating scandal. Berlin newspaper Der Taggespiegel is reporting that VW's supervisory board will meet tomorrow, ahead of a conference scheduled for Friday when it is [...]
British American Tobacco turns to ecigarettes to stay ahead but share price closed on five-day low September 23, 2015 British American Tobacco (BAT) yesterday signed a conditional agreement to buy ecigarette manufacturer CHIC for an undisclosed sum. BAT hopes to extend its reach through Europe and expand beyond its tobacco cigarettes to make the most of the growing ecigarette movement – which are widely viewed as a healthier option. CHIC, Poland’s e-cigarette market-leader, makes [...]
Student spending on the rise as living costs shoot up in the UK September 23, 2015 Student spending could reach its highest ever level this academic year, and may hit over £30bn in total for 2015, according to research from Experian Marketing Services. Students in Manchester are predicted to spend over £1.1bn over the course of this academic year, while Nottingham will see a total student spend of around £800m. According [...]
Eurozone shoppers in good spirits despite September dip in sentiment September 23, 2015 Consumer confidence in the Eurozone has dipped this month to its second lowest level of the year, according to preliminary figures published by the European Commission (EC) yesterday. The EC’s confidence indicator slipped 0.2 points to a score of minus 7.1. Despite the negative figure, confidence remains at levels consistent with spending growth and is [...]
Volkswagen car recall emissions scandal: VW boss Martin Winterkorn clings on as heat rises September 23, 2015 Volkswagen chief executive Martin Winterkorn will today face the company’s supervisory board to explain his role in the emissions scandal engulfing the carmaker, amid reports his job is on the line. Last night New York Attorney General Eric Schneiderman issued a statement confirming his office would be investigating Volkswagen. He said: “No company [...]
BT promises faster and wider broadband internet coverage as fight kicks off between TalkTalk boss Dido Harding and BT CEO Gavin Patterson September 23, 2015 A war of words broke out between the UK’s telecom firms again yesterday, as TalkTalk boss Dido Harding accused BT chief executive Gavin Patterson of “grandstanding” with a series of pledges to improve broadband service unveiled yesterday. The BT boss said the company wants to “forge an ultrafast future for Britain and stand ready to [...]
Card Factory delivers a record profit but warns on wage rise September 23, 2015 Discount greetings card chain Card Factory reported a bumper first-half yesterday but became the latest retailer to warn that the government’s minimum wage rise could weigh on margins next year. The Wakefield-based company, which made its market debut in May last year, said pre-tax profits soared 72.3 per cent to reach £25.7m in the six [...]