First US commercial flight to Cuba in more than 50 years lands August 31, 2016 The first US commercial flight to Cuba in more than 50 years has landed in Santa Clara, in a symbol of improving relations between the two nations. JetBlue Flight 387 landed in Santa Clara after taking off from Fort Lauderdale, half a century after the last commercial flight as tension arose during the Cold War. Diplomatic [...]
Private equity group NorthEdge scoops up Millionaires’ Holiday Club company ITC Luxury Travel for £30m August 31, 2016 The luxury holiday company at the centre of the BBC documentary series The Millionaires' Holiday Club has been bought by NorthEdge capital in a deal thought to be worth around £30m. NorthEdge has bought a majority stake in Chester-based ITC Luxury Travel Group following a management buyout by current chief executive Jen Atkinson and her senior team. [...]
Commerzbank and Deutsche Bank merger rumour shot down but German lenders’ share prices still up August 31, 2016 Shares in two big names in German banking are currently riding high on rumours of a merger, even though they have since been denied. Reports from local media that Commerzbank and Deutsche Bank could be heading towards a tie-up were shot down this morning, after the latter's chief executive John Cryan told a conference he didn't see his [...]
Waitrose’s sales were boosted by the summer sun last week – but John Lewis stayed in the shade August 31, 2016 The warm weather boosted Waitrose's sales last week – but sister shop John Lewis failed to cash in on the summer sun. Excluding fuel, total sales at Waitrose were up 8.2 per cent on last year. The retailer said both the good weather and generous promotions were responsible for the sales lift – barbeque product [...]
Telecom firms look to watchdog for guidance on mobile ad blocking August 31, 2016 Mobile networks are looking to the communications watchdog Ofcom for guidance over their plans for network-wide ad blocking. Yesterday the Body of European Regulators for Electronic Communications (Berec) published guidelines to clarify rules preventing internet service providers throttling download speeds. Part of the guidelines – which are now left to be interpreted by national regulators [...]
Three at 3: The three stories you need to read right now August 31, 2016 We’re officially halfway through the working week – to celebrate, we’ve put together the top three stories of the day in bite-sized form, just to make your life that bit easier. Time for a coffee break? Check out our three at three. London is burning, again. A 120 metre-long sculpture of London’s 17th-century skyline will [...]
PwC pays largest ever uncontested fine to Financial Reporting Council over Cattles audit sign-off August 31, 2016 The Financial Reporting Council (FRC) today fined PwC £2.3m in relation to the 2007 audit of failed sub-prime lender Cattles. The fines are the highest ever imposed by the FRC for an uncontested disciplinary hearing and only surpassed by the £3m of penalties accepted on appeal by Deloitte in connection with the failure of MG Rover. Total fines of £3.5m were reduced [...]
Virgin Media to offer faster broadband for gamers August 31, 2016 Virgin Media is taking a niche approach to growing its broadband subscription base. From tomorrow the internet service provider will offer customers the UK’s first broadband tier designed specifically for online gamers. The extra upload speed – up to 20Mbps – will be an add-on to Virgin Media’s current top broadband package and cost £5 per month. Gamers are increasingly choosing to [...]
Ex-Tesco finance chief cleared over accounting scandal August 31, 2016 Tesco's former finance chief Laurie McIlwee has been cleared by the Financial Reporting Council (FRC) over the supermarket's accounting scandal two years ago. The FRC was investigating McIlwee after it emerged in 2014 that the company had been overstating its profits in its accounts stretching back to 2012. McIlwee resigned his position as chief financial officer in April 2014, five [...]
Toast at 300ft? The Emirates Line Thames cable car has applied to serve booze August 31, 2016 If you're the sort who is comfortable quaffing champagne 300ft above the swirling waters of the Thames, we have good news: the Emirates Air Line cable car may be about to serve alcohol. Bottoms up. Yep: transport bosses have applied for a licence to sell booze to passengers in an effort to make the struggling cable car more popular. [...]