How the EU’s Tobacco Products Directive has pushed e-cigarettes into the dark May 3, 2016 In just over two weeks, 20 May will be a big day for smokers and vapers – but I wonder how many know it. From that day, EU regulations in the form of the European Tobacco Products Directive will limit the strength of e-cigarette fluid and restrict bottle sizes to a measly 10ml. Tank capacity – i.e. the amount [...]
New York Times share price falls after reporting print and online advertising struggles May 3, 2016 US newspaper the New York Times performed ahead of analysts' expectations despite advertising revenues falling both in print and online. But the company's share price fell by nearly four per cent on Tuesday morning in New York to $12.37. The figures The New York Times Group reported adjusted earnings per share (EPS) of $0.10 in the [...]
Forget Lemonade, Beyonce’s invested in a watermelon startup May 3, 2016 Beyonce is the latest celebrity to jump on the startup bandwagon, and is apparently crazy in love with watermelon. The superstar singer who recently released a new album called Lemonade and a new sports range called Ivy Park with Topshop, has put an undisclosed sum into World Waters which makes organic watermelon juice. “I invested in WTRMLN WTR [...]
Aegon to buy BlackRock’s UK Defined Contribution (DC) platform and administration arm May 3, 2016 Aegon has today announced it is buying BlackRock's UK Defined Contribution (DC) platform and administration arm. The Dutch insurer will be acquiring assets worth roughly £12bn along with 350,000 customers, to create a workplace savings business worth £30bn. Meanwhile, asset manager BlackRock, which will be retaining £65bn of its DC business, will turn its focus [...]
Siemens says it’s investing “a lot” in cyber security May 3, 2016 Siemens is investing “a lot” to bolster its defences against potential cyber attackers who may try to infiltrate its systems. Speaking to City A.M. at the World Manufacturing Forum, Norbert Gaus, executive vice president and head of the research and technology centre at Siemens, said: “Cyber security, to us, is mandatory. There's’ no question we’re [...]
Channel 4 and ITV news producer ITN takes stride towards 2020 revenue vision May 3, 2016 News producer ITN today reported a seven per cent revenue leap as it seeks to generate £180m by 2020. The figures The maker of ITV News, Channel 4 News and 5 News today reported a 2015 turnover of £119.7m, up from £112m. Read more: ITN has big plans for revenue growth and US expansion Of the total [...]
Valeant’s new chief executive has begun his job of trying to save the embattled drug maker May 3, 2016 Joseph Papa has assumed his role as chief executive of troubled Canadian drug giant Valeant Pharmaceuticals, succeeding Michael Pearson who was ousted in March. Valeant is currently wrestling with an investigation in its accounting practices and drug pricing strategy that has seen its share lose 85 per cent of their value of the last 12 months. Shares climbed slightly [...]
Rimmel owner Coty not as slick as profits slip to losses May 3, 2016 Coty today reported that it had swung to a loss-making position for its three months ended March 2016. The cosmetics giant, which owns Rimmel and Sally Hansen as well as a number of designer fragrance brands, reported a net loss for its third quarter of $26.8m (£18.3m), down from a net profit of $75.5m the year before. The [...]
Nutmeg chief Nick Hungerford is stepping down May 3, 2016 One of the UK’s best known fintech entrepreneurs Nick Hungerford is stepping down as chief of the Nutmeg, the wealth management startup he co-founded. The firm, which has landed millions of pounds in backing from the likes of Schroders, has named revenue chief Martin Stead his successor and Hungerford will become a non-executive director. Here’s what [...]