Cheeri-nos: Major recall of General Mills’ cereal because of “undeclared allergen” – wheat October 6, 2015 Cheerios' producer General Mills is having to recall millions 1.8m boxes of its cereal because of an "undeclared allergen" – wheat. The company said Cheerios and Honey Nut Cheerios produced at its factory in Lodi, California, during two weeks in July were being recalled because "an isolated incident resulted in wheat flour being inadvertently introduced into [...]
Safe Harbour data transfer deal between EU and US ruled invalid by European courts October 6, 2015 A deal between Europe and the US, which allows people's personal online data from sites such as Facebook and Google to be transferred between the two countries, has been ruled invalid by EU courts. The Safe Harbour agreement, introduced 15 years ago, allows thousands of US companies to process the data of EU citizens with [...]
Volkswagen tells German parliament eight million cars have been fitted with emissions cheat device in European Union alone October 6, 2015 Volkswagen has admitted that eight million cars in the European Union alone have been fitted with software to cheat emissions tests. The carmaker sent a letter to German parliament members on 2 October, co-signed by VW's current chief lobbyist, and former government spokesperson, Thomas Steg, Reuters and local press are reporting. VW said in the letter that vehicles with [...]
Brooks Macdonald, Capita, Tesco: Best of the Brokers for 6 October 2015 October 6, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com BROOKS MACDONALD I want to grow old with you, was Shore Capital’s message for Aim-listed wealth manager Brooks Macdonald. The broker maintained its “buy” rating and upgraded its fair price to 2,075p from 1,875p on the strength of its full-year results, citing [...]
Hoverboard creator Lexus has made a fully-functioning cardboard car, just because it can October 6, 2015 Having created the hoverboard, you might have thought there weren't many goals left for Lexus – but you'd be wrong. The car brand has turned its hand to rather greener pursuits – creating a fully-functioning car out of cardboard. In a blog, the company said the car had been inspired by the Japanese art of origami, [...]
Stars align for shoppers: Experts predict a consumer boom amid low inflation and cheap energy October 6, 2015 All the ingredients for a consumer boom are appearing, experts say, as turbulence in Asia keeps commodity prices and inflation down. Oil prices remain low amid global oversupply and market worries about slowing demand in China. Meanwhile, Beijing’s devaluation of the yuan means lower inflation – in the form of cheaper goods from China [...]
Commodity prices: Low point for investors? Wait until 2017 October 6, 2015 Investors have over the past week questioned whether major commodities names are like the lyrics of the 1980s Bon Jovi hit Livin’ On A Prayer – spot prices might relapse, or prices may remain battered for years. Glencore has been in the thick of it, defending its liquidity, debt maturities and bank loans after [...]
Business lessons from the Rugby World Cup 2015 October 6, 2015 Rugby is a thug’s game, played by gentlemen”. So goes the adage, but it’s not the only tough game in town. England’s premature exit from the World Cup has demonstrated how uncompromising rugby can be, but the world of business is just as rough. Smaller companies and startups must be prepared to take a few [...]
Bank of England September minutes and interest rate decision: Five things to look for October 6, 2015 The Bank of England's (BoE) last minutes and quarterly inflation report struck a decidedly dovish tone. However a lot has happened since then. Consequently investors will be eager to see if recent developments have pushed back expectations for an interest rate rise over at the Old Lady. Will the hawk still squark? With the BoE [...]
Google in talks to invest in Bloomberg rival Symphony October 5, 2015 Google has reportedly entered into talks with Goldman Sachs-backed startup Symphony Communication for a round of fundraising. The talks are ongoing and no terms have been finalised, a source told Reuters. Earlier today the Wall Street Journal reported people familiar with the matter said Google had invested in a new round of funding for Symphony, valuing the [...]