Automotive supplier SGL shares drop a third as chief quits on profit warning August 15, 2019 SGL Carbon, a major supplier to Germany’s car industry, has suffered a double blow as its chief executive threw in the towel over flawed business planning on the same day as a profit warning. Chief executive Juergen Koehler will step down at the end of August, he announced, as the company said it expected adjusted [...]
Alibaba beats expectations as revenues surge August 15, 2019 Chinese online shopping giant Alibaba trumped market expectations this afternoon, providing some relief for Asian investors in a week that has seen markets rocked by the US-China trade war and fears of a global recession. The retail group posted better-than-expected quarterly results after revenues from its cloud and e-commerce operations surged, sending shares up more [...]
Government offers £25m to ensure drug supply after Brexit August 15, 2019 The government is planning a £25m contract to ensure British pharmacies and medicine cabinets stay stocked after Brexit. The contract will ensure that small parcels of medicines or medical products get into the country within 24 hours, with larger deliveries every two or four days. Read more: New £300m no-deal Brexit freight plan risks legal [...]
Carlsberg boosts earnings thanks to higher sales of premium beers August 15, 2019 Carlsberg boosted earnings and improved its operating margins in the first half of the year, thanks to greater sales of its more expensive beers. The Danish brewer said its sales increased 6.5 per cent in the first-half today, despite declining sales in its key market Russia. Russia sales fell three per cent due to price [...]
Remainer MP Wollaston joins Lib Dems to halt Brexit August 15, 2019 Former Conservative MP Sarah Wollaston has joined the Liberal Democrats, as she continues to fight Boris Johnson’s threats of a no-deal Brexit. Wollaston, who chairs the Health and Social Care Committee and the influential Liaison Committee, which will haul Johnson over the coals next month, was one of three Tories to quit the party in [...]
GVC lifts earnings forecast as it escapes impact of betting cap August 15, 2019 Ladbrokes Coral owner GVC has upgraded its full-year earnings forecast as it weathered the impact of a new regulatory cap on fixed-odds betting terminals. The figures GVC reported pre-tax profit of £212m for the first half of the year, up 31 per cent from 162.1m in the first half of 2018. Revenue at the gambling [...]
First Group appoints former Arriva boss as chair August 15, 2019 Travel company First Group has appointed former Arriva chief executive David Martin as its new chair. The appointment comes the day after First won a tender to run the West Coast mainline alongside Italian firm Trenitalia. Former chair Wolfhart Hauser resigned in June after 30 per cent of investors voted against his re-election. Read more: [...]
Rabobank profits fall by a quarter as lender hit with charges August 15, 2019 Pre-tax profit at the Dutch lender Rabobank fell by 26 per cent in the first half of the year, the company said today, after it was hit with impairment charges and struggled with low interest rates. Read more: Four lenders awarded £40m from RBS banking competition funds The figures Rabobank’s operating profit before tax dropped [...]
Boris Johnson’s ‘tough on crime’ rhetoric won’t make our streets any safer August 15, 2019 Boris Johnson’s criminal justice announcements this week are red meat for disillusioned voters. Having fallen off the radar in the past five years, people are now more concerned by crime than any issue other than Brexit – and it happened on the Tories’ watch. Bad news for the party of law and order. Ever the [...]
DEBATE: In the midst of commuter outrage over fare hikes, is rail nationalisation the answer? August 15, 2019 In the midst of commuter outrage over fare hikes, is rail nationalisation the answer? Cat Hobbs, director of We Own It, says YES. Another year, another eye-watering rail fare hike, with the annual cost of getting to work likely to rise by over £100 for many commuters. And it’s no wonder passengers are angry. We’re [...]