Nestle whips up joint venture Froneri with R&R Ice Cream to sell frozen foods in more than 20 countries April 27, 2016 Global food giant Nestle has agreed a joint venture with British food firm R&R Ice Cream to sell ice cream and frozen food in more than 20 countries. The 50/50 joint venture, which will be called Froneri, will be based in the UK and will combine Nestle and R&R's ice cream activities in Europe, the Middle East, [...]
It’s been a bad day for Nigel Farage: He forgot which side he was on in the EU referendum and David Cameron called his surname “poncey” April 27, 2016 Nigel Farage isn't having a great day. The UKIP leader is facing ridicule from the House of Commons and great British public today for everything from social media gaffes to having a silly name. The eurosceptic firebrand confused his devoted fans today when he accidently posted a Tweet in support of both David Cameron and the [...]
EU referendum: Leave makes gains but Remain still leads while undecideds could swing it April 27, 2016 With under two months until the UK votes on its membership of the EU, support for Leave has risen marginally, but Remain still comfortably leads. A recent poll by Survation on behalf of IG Group puts backing for Leave on 38 per cent, a rise of two per cent since the last poll for IG [...]
The Panama papers are about to be made public April 27, 2016 The massive leak of offshore tax information from Mossack Fonseca may soon cause more ripples. A searchable database of the companies named in the leaked information will soon be made public by the organisation to which the information was disclosed. Read more: Who leaked the Panama papers? "200,000 companies, trusts, foundations and funds incorporated in 21 tax [...]
Hilton checks in double profits in the first quarter thanks to tax benefits and higher rooms rates April 27, 2016 US hotel group Hilton has reported a sharp increase of 42 per cent in like-for-like earnings per share compared to 2015 in its first quarter. Profit rose to $309m (£212m) – up from $150m in the same period in previous year – thanks to tax benefits and higher rooms rates. Hilton earned 17 cents per [...]
Former BHS owner Dominic Chappell “preparing bid” for BHS – but insiders think he’s “living in cloud cuckoo-land” April 27, 2016 The former owner of BHS, Dominic Chappell, is close to making a bid for the iconic retailer that entered administration on Monday – but sources have already dismissed him as "living in cloud cuckoo-land". Chappell, who is facing pressure under claims he took £1.5m out of the firm and moved into another company called BHS [...]
This is where people working in finance are living in London (spoiler: it’s not Canary Wharf) April 27, 2016 Ever wondered where all the bankers in London live? Camden, it turns out. City slickers are shunning the new builds of Canary Wharf and are instead holing up in north London, according to new research. When it comes to finding a flat, Camden, Angel and Kings Cross are the most sought after locations for those [...]
City watchdog suggests a range of new measures to make UK’s primary listed debt markets more effective April 27, 2016 The City watchdog has today published a list of practical recommendations for improvements that could be made to the UK primary listed debt markets. Recommendations in the Financial Conduct Authority's (FCA) report include extending the FCA's wholesale debt approach to cover wholesale debt documents, establishing an early engagement team to help overseas issuers understand the process [...]
Arrr! Photo agency wants Brussels to force Google into walking the plank for turning people into “accidental pirates” April 27, 2016 A photo agency wants Google to walk the plank for turning people into “accidental pirates”. Yes, Google is facing yet more legal action in Brussels. This time, Getty Images has complained to the European Commission over Google Images. As well as accusing Google of creating pirates, Getty also said the search engine is "threatening innovation, and [...]
Bankers: Nearly everybody else is working harder than you April 27, 2016 Workers in the square mile probably feel like they have one of the hardest daily grinds in the country. If you're one of them, you might agree, but a new survey from recruitment firm Reed suggests there will be little in the way of sympathy from friends and families in other professions. In fact, most people [...]