DCMS chair Damian Collins calls for crackdown on fake news spread by ‘wealthy people’ October 10, 2019 A top MP has called for a crackdown on campaign groups funded by “wealthy people” that spread disinformation on social media. Damian Collins, chair of the Digital, Culture, Media and Sport (DCMS) select committee, warned that much of the discourse on social media was not spread organically but rather promoted by shady backers. Read more: [...]
London City Airport: Police and Extinction Rebellion vie for control of travel hub October 10, 2019 Extinction Rebellion protesters attempted to block the entrance to London City Airport today, as well as blockading the DLR station near the travel hub. London City Airport said that flights remain unaffected, with 60 planes having arrived and departed from the airport by 9.15am. Read more: Extinction Rebellion protesters seek to shut down City airport [...]
Dunelm shares slump despite revenue growth October 10, 2019 Shares in Dunelm dropped more than eight per cent this morning despite reporting growth in the first quarter, following a string of positive trading updates this year. Total like for like revenue grew 6.4 per cent to £255.6m, with a 34.7 per cent increase in online sales. In-store revenue was up 2.9 per cent to [...]
Danske Bank begins hiring freeze to meet costs associated with money laundering scandal October 10, 2019 Danske Bank has initiated a hiring freeze on non-critical positions in a bid to meet rising compliance costs related to its involvement in a money laundering scandal. “The hiring freeze comes after we’ve seen higher compliance costs and costs related to our anti-money laundering efforts,” a spokesperson for the bank said. Read more: Former head [...]
N Brown returns to profit after digital transformation October 10, 2019 Shares in N Brown jumped 7.8 per cent this morning after the plus-size retailer reported it returned to profit in the first half. The figures The retailer reported a statutory profit of £18.8m, up 169.4 per cent from a loss of £27.1m last year. Earnings increased four per cent from £52m to £54.1m in the [...]
Barclay brothers mull £800m sale of The Ritz Hotel October 10, 2019 David and Frederick Barclay, the billionaire brothers that own The Ritz, are reportedly mulling an £800m sale of the five-star Mayfair hotel. The twin brothers, who also own The Telegraph newspaper and Spectator magazine, bought the Grade-II listed building for £75m in 1995. Read more: Profits plunge at Barclay brothers’ Ritz hotel Richard Faber, Frederick [...]
Philip Hammond: Post-Brexit trade deals have ‘very limited economic value’ October 10, 2019 Philip Hammond has taken a swipe and Brexit supporters’ hopes of striking free-trade deals around the globe after leaving the EU because they have “very limited” economic value. The former chancellor said there is no “simple solution” to Brexit, and called a no-deal scenario an act of “self-harm”. Read more: Bercow discussed Brexit plans with [...]
London house prices suffer steepest fall since financial crisis October 10, 2019 London house prices fell at their fastest rate since the financial crisis in the third quarter, according to Halifax. Homes in the capital saw their values sink 1.7 per cent year on year, their worst performance since autumn 2009. Meanwhile south east house prices dropped 1.3 per cent. Read more: Brexit uncertainty takes a bite [...]
Healthcare giant Philips issues profit warning on US-China trade tariffs October 10, 2019 Dutch healthcare-tech giant Philips has warned the trade war between the US and China will stop it hitting targets for profit margin improvement this year. In an update ahead of its third-quarter report, the European firm said rising tariffs would hamper its earnings before interest, tax and amortisation (EBITA) margin. Read more: Philips to close [...]
Hargreaves Lansdown boosts assets under administration to over £100bn October 10, 2019 Hargreaves Lansdown said today that it had grown assets under administration to over £100bn at 30 September. In a trading update, the investment firm said that assets under administration stood at £101.8bn, up from £99.3bn three months earlier. The company said net new business was £1.7bn, compared to £1.3bn at the same time last year, [...]