Eurozone deflates: Prices going down, again, but maybe not for long May 18, 2016 The Eurozone fell back into deflation in April, as prices dropped by 0.2 per cent over the year, official statistics out yesterday showed. Falling transport and energy costs pushed the headline rate of inflation down from zero in March. It marks the second month of deflation this year for the Eurozone after oil price volatility [...]
Qatar Airways ramps up stake in British Airways owner IAG May 18, 2016 Qatar Airways yesterday said it has increased its stake in British Airways owner International Consolidated Airlines Group (IAG), at a time when the Gulf state is overhauling its business strategy due to the challenging oil market. The Gulf airline, which is fully government owned, has raised its holding in the FTSE 100-quoted airline group to [...]
S&P warns Brexit could sap investment in UK infrastructure May 18, 2016 The majority of infrastructure investors in the UK market believe that a Brexit would zap much-needed investment in buildings, roads and power supplies for at least two years after the vote. Research by credit ratings agency S&P showed that while Britain's exit from the 28-nation bloc could cripple infrastructure investment in the short-term, capital would return once [...]
Has the Queen’s Speech delivered? May 18, 2016 With so much focus on the EU referendum, this year’s Queen’s Speech was an opportunity to return the spotlight, if briefly in the short term, onto the domestic agenda and delivering the plan set out in the manifesto. It’s clear that the reforming zeal will focus in the next year on the rehabilitation revolution, with [...]
Pay by Fitbit? It could soon be a reality after this acquisition of assets from fintech startup Coin May 18, 2016 Fitbit has indicated a move into payments with the acquisition of technology from a Silicon Valley firm specialising in wearable payments, meaning users might in future be able to pay for things simply by swiping their Fitbit. The tech company has snapped up the assets of Coin, a startup in the fintech and wearables space which created a [...]
Staples dragged down by failed Office Depot merger May 18, 2016 Staples, the US office supplies retailer that was forced to cancel its plans for a takeover of Office Depot earlier this month, has posted first quarter results marginally ahead of analyst estimates. The retailer reported quarterly sales fell by three per cent to $5.10bn, blaming store closures that knocked revenue growth by around two per cent, and a strong dollar. Staples said [...]
Burberry to axe its headcount as it warns of “challenging environment” that has sent profit and revenue lower May 18, 2016 Luxury retailer Burberry will cut jobs over the next three years as part of its turnaround plan. Chief financial officer Carol Fairweather said “some headcount reduction” would take place but declined to comment on specific numbers or where in the business the cuts would come. The company is targeting £100m of cost savings over the next three years. Burberry's share price [...]
Moody’s: Brexit would be workable for asset managers despite profitability hit May 18, 2016 A UK vote to leave the European Union would weigh on asset managers’ profitability, according to credit ratings agency Moody’s. But a note today said a so-called Brexit would not be a “big threat” to their credit fundamentals. It said the “operational and business impact would be manageable for most asset managers we rate”. Assessing the [...]
Foxtons shareholders just voted through a 19 per cent wage hike for its chief executive – despite a fall in share price May 18, 2016 More proof that 2016's so-called shareholder spring is more of a trickle of dissent? Foxtons shareholders have voted through a 19 per cent payrise for chief executive Nic Budden – despite the fact shares have plummeted in the last year. In a statement this afternoon, the estate agent, which focuses on properties in central London, said [...]
Millions of hacked LinkedIn passwords put up for sale online May 18, 2016 Over 100 million LinkedIn passwords have been stolen and put on sale online. A hacker, called “Peace”, told tech website Motherboard that he is trying to sell LinkedIn user data online. He reportedly managed to obtain personal information of users in 2012 when a cyber breach revealed encrypted passwords of over 117m LinkedIn users. Read [...]