End of an era: Blackberry will no longer make its own phones September 28, 2016 The once high-flying Blackberry has come crashing to the end of production of its own phones, saying it will outsource making any hardware to other companies. The struggling phone maker will instead focus on its software and services after failing to keep up with the rise of Apple and touch screen smartphones. The Canadian firm which [...]
“Sainsbury’s footfall is falling short” – analysts react to the retailer’s trading update September 28, 2016 Sainsbury's issued a 1.1 per cent fall in like-for-like sales this morning, and analysts' reactions have been pretty scathing. The retailer boosted its volumes, but the supermarket price war has eroded any benefit Sainsbury's might have wanted to see in its like-for-likes as a result. Sainsbury's share price has dropped 3.67 per cent today following [...]
BT, TalkTalk, and Vodafone all perform badly in latest set of Ofcom complaints data September 28, 2016 Telecoms watchdog Ofcom has revealed the best and the worst performers when it comes to customer complaints for broadband, landlines, mobile, and pay TV. Complaints figures are presented per 100,000 customers and covers the three-month period from April to June 2016. BT topped the list of broadband complaints, followed by its subsidiary Plusnet, with 26 and 23 respectively. The industry [...]
Oil prices climb as investor attention turns to Opec’s November meeting September 28, 2016 Oil prices rose today after industry data showed a surprise draw in US crude stocks and Saudi Arabia stirred hopes for a freeze deal at Opec's meeting in November. Brent crude, the global benchmark, rose as much as 0.94 per cent to $46.39 per barrel. Its US counterpart, West Texas Intermediate, swelled as much as 0.91 per cent to [...]
Deutsche Bank flogs Abbey Life to Phoenix in order to strengthen its capital position September 28, 2016 Beleaguered lender Deutsche Bank is set to welcome nearly £1bn of much needed capital after agreeing to sell Abbey Life to specialist life insurer Phoenix. "This transaction will also strengthen Deutsche Bank’s capital position. We continue to build a simpler and better Deutsche Bank," said chief executive John Cryan. Read more: Angela Merkel might be considering a Deutsche Bank [...]
Deutsche Bank: Where did it all go wrong? September 28, 2016 The German government could be considering a bailout for Deutsche Bank as the lender's share price falls to its lowest level since the mid-1980s and speculation over a rights issue or buyout swirl. The latest trigger has been the Department of Justice's claims for a $14bn settlement over Deutsche Bank's role in the underwriting of [...]
These are the most complained about broadband, phone and pay TV firms, according to Ofcom September 28, 2016 Telecoms regulator Ofcom has revealed the most complained about broadband, phone and pay TV providers for the three months from April to June. “We expect providers to make customer service and complaints handling top priorities," said Ofcom's consumer group director Lindsey Fussell. "While complaints have gone down, providers must work harder to better serve their [...]
Cheers: SABMiller shareholders vote in favour of AB InBev’s £79bn Megabrew takeover September 28, 2016 SABMiller investors have given the green light to Anheuser-Busch InBev’s £79bn Megabrew merger. Minority shareholders for the FTSE 100 drinks giant voted overwhelmingly in favour of the deal, one of the largest in corporate history, with more than 95.5 per cent of votes cast in support. All shareholder hurdles for the mega-merger have now been passed, [...]
What to expect from the final day of Labour Conference 2016 September 28, 2016 It's the final day of Labour Conference 2016 – here's what's likely to happen as newly re-elected leader Jeremy Corbyn takes to the stage to address his party of opposition. It's the final day of #labour party conference, so here's a final update from Liverpool ahead of Jeremy Corbyn's big speech #Lab16 pic.twitter.com/ozu0v0FYDr — Mark [...]
Germany forced to deny Deutsche Bank bailout plans September 28, 2016 The German government has denied it is considering injecting billions of euros into beleaguered Deutsche Bank, following reports from a German newspaper it was preparing an emergency rescue package. Just hours after insisting there would be no state-backed bailout of the bank, German newspaper Die Welt has revealed the government is undertaking contingency planning to assess [...]