US to return $200m to Malaysia as part of 1MDB probe May 7, 2019 The US government has begun to return around $200m to Malaysia after seizing assets related to the scandal-hit state fund 1MDB, the two countries confirmed today. Since 2016 the US Department of Justice (DoJ) has filed lawsuits to seize around $1.7bn of goods allegedly bought with funds stolen from 1MDB, including a private jet, luxury [...]
Car sales fall as removal of subsidies and Brexit take toll May 7, 2019 The number of new cars registered in the UK fell 4.1 per cent in April compared to the year before, as demand among consumers shrank, according to official figures released today. Read more: Brexit stockpiling slowdown hurts UK manufacturing growth Meanwhile, registration of new plug-in hybrids declined dramatically, falling 34.4 per cent year-on-year. The drop [...]
Purplebricks shares drop after founder Michael Bruce steps down May 7, 2019 Shares in online estate agent Purplebricks fell as much as eight per cent in early trading after it revealed founder and chief executive Michael Bruce is stepping down. Purplebricks said Bruce has resigned with immediate effect and will be replaced by chief operating officer Vic Darvey. Read more: Shares in Purplebricks plummet as UK and [...]
Hello Fresh reports soaring customer numbers in first quarter May 7, 2019 Meal delivery service Hello Fresh saw active customers jump 32.2 per cent, boosting revenue to more than €400m. Revenue was up 42.1 per cent from €295.6m in the first quarter of 2018 to 420.1 this year, while Ebitda fell 20.2 per cent to €21.7m. Read more: Hello Fresh revenues soar as it draws up recipe [...]
Budweiser owner AB InBev ‘exploring’ Hong Kong IPO of Asian business May 7, 2019 Budweiser owner Anheuser-Busch InBev (AB InBev) is exploring a public listing of its Asian business in Hong Kong, the drinks giant confirmed this morning as it reported its results for the first quarter of the year. The figures Revenue was up 5.9 per cent to to $12.85bn and earnings before interest, tax, depreciation and amortisation (Ebitda) [...]
Black Sheep on stirring up the coffee industry, volcanic plantations, and helping the homeless May 7, 2019 We might be a nation best known for drinking tea, but Brits are increasingly obsessed with coffee. According to market analyst Allegra, we spent a tea-spitting £10.1bn in coffee shops last year. You can’t walk 100 yards in most town centres without stumbling on a Starbucks, Costa, or Cafe Nero – though, with many coffee [...]
Domino’s suffers big dip in shares as it warns on international sales May 7, 2019 Shares in Domino’s Pizza fell seven per cent this morning after the firm warned it will no longer break even in its international division. Read more: Domino's Pizza hits back at reports it misled the City over franchisee row The figures Domino’s group sales rose 4.3 per cent to £324.4m. UK and Republic of Ireland [...]
BMW profits crash 76 per cent as it gears up for €1.4bn EU antitrust fine May 7, 2019 German car manufacturer BMW has posted a steep fall in first-quarter profits after it put aside €1.4bn (£1.2bn) for a possible EU antitrust fine. Read more: BMW flashes warning lights as mounting costs hit forecasts The figures Group revenues slipped a marginal 0.9 per cent to €22.5bn in the first quarter. Pre-tax profit plunged 76 [...]
This series of UK politics feels suspiciously like daytime TV May 7, 2019 Last week’s local elections were a democratic amuse bouche. A mere mouthful of popular sentiment, sending a message to the political elite that an offering meant to delight the taste buds has fallen as flat as a soggy souffle. Like a daytime TV rerun of MasterChef, it involved lots of familiar names and tried but [...]
The British aversion to foreign languages isn’t charming – it’s a diplomatic travesty May 7, 2019 Avez-VOUS bien fermé votre porte à clé ce matin? How many Londoners would immediately understand this sentence on their morning commutes? I would wager not many. Certainly, if the English equivalent were written in Der Spiegel, la Repubblica, or Aftonbladet, the majority of German, Italian, or Swedish readers would have no problem telling you what [...]