Glaxosmithkline posts third-quarter sales growth after Pfizer purchase October 30, 2019 Glaxosmithkline have reported group sales of £9.4bn for the third quarter, with total operating profits of £2.1m, compared with £1.9m for the same period in 2018. The drug manufacturer raised its forecast for 2019, saying that it now expected profits to be flat compared to last year, up from a previous estimated of a three [...]
Mike Ashley hits out at competition watchdog over JD Sports probe October 30, 2019 Retail tycoon Mike Ashley has slammed the UK’s competition watchdog for its investigation into the merger between JD Sports and Footasylum, saying it has overstated Sports Direct’s share of the market. The Competition and Markets Authority (CMA) is investigating whether JD Sports’ £90m takeover of Footasylum could result in higher prices and reduced competition in [...]
Amazon ad banned for ‘misleading’ customers into signing up for Prime October 30, 2019 Amazon has been reprimanded by the ad watchdog over concerns the delivery options on its website may have misled people into signing up for Prime. The Advertising Standards Authority (ASA) received 10 complaints about a promotion that appeared during the ecommerce giant’s checkout process. Read more: Microsoft beats Amazon to Pentagon’s $10bn cloud computing contract [...]
TfL ‘can’t rule out’ Thor’s hammer as cause of huge London Overground delays October 30, 2019 Travel chaos hit London Overground commuters today as the service suffered suspensions due to a track obstruction. Londoners coming into the city were forced to find alternative routes with no service between Highbury & Islington and New Cross, Clapham Junction, West Croydon and Crystal Palace. Read more: Crossrail is at risk of even more delays [...]
Grenfell survivors welcome inquiry report October 30, 2019 Survivors and bereaved family members of the Grenfell Tower fire have welcomed a report into the disaster, which found there were “systemic failings” by the London Fire Brigade (LFB). Grenfell United – an organisation for “bereaved, survivors and community of Grenfell Tower” – said the report was “strong” and urged the LFB to make changes [...]
Amber Rudd to quit parliament at general election October 30, 2019 Former Home Secretary Amber Rudd has said she will not stand in December’s general election, but will likely return to the Conservative party before leaving. She joined Patrick McLoughlin, former transport secretary and Conservative party chairman, who also announced this morning he would not be contesting his seat at the snap election. Read more: Therese [...]
Facebook abandons appeal against £500,000 Cambridge Analytica fine October 30, 2019 Facebook has dropped its appeal over a £500,000 data protection fine for its Cambridge Analytica scandal. The social media network has made no admission of liability but will no longer contest the maximum fine imposed by UK watchdog the Information Commissioner’s Office. Billionaire Mark Zuckerberg appealed the penalty last November after the watchdog issued the [...]
Boris Johnson’s Brexit deal could inflict ‘£70bn hit’ on UK economy October 30, 2019 The UK economy could suffer a £70bn hit from Boris Johnson’s Brexit deal, according to a new report from an influential think tank. New research from the National Institute of Economic and Social Research (Niesr) has claimed that GDP in 10 years would be 3.5 per cent weaker under Johnson’s deal than if Britain were [...]
De La Rue share price plunges as it issues profit warning October 30, 2019 De La Rue’s share price crumbled today after it warned investors that full-year profits would fall “significantly lower” than current market expectations. Britain’s former passport maker also warned that adjusted operating profit for its half-year to the end of September would only be in the low-to-mid single digits. Read more: De La Rue appoints turnaround [...]
Airbus drops delivery target as production stalls October 30, 2019 Airbus revised its full-year delivery goal for commercial jets this morning, as the plane manufacturer continued to suffer with delays at a newly expanded German plant. Europe’s largest aerospace group now hopes to deliver around 860 airliners in 2019 instead of the 880-890 previously targeted. Read more: Airbus warns employees on cash flow in defence [...]