ECSC revenues jump as it grows client base amid cyber security concerns March 13, 2019 Cyber security firm ECSC has posted a huge increase in revenues as it cashes in on new regulation and growing concerns about cyber attacks. Read more: Avast secures strong results as chief executive steps down The figures Revenue surged 35 per cent to £5.4m. Gross profit increased 67 per cent to £2.7m. Adjusted earnings before interest, [...]
Norwegian Air to seek compensation for flight ban on Boeing Max 8 and 9 planes after fatal Ethiopia crash March 13, 2019 Embattled airline Norwegian Air will seek compensation from plane maker Boeing for lost revenue and extra costs arising from the Europe-wide flight ban on the US manufacturer’s latest jet. Norwegian’s 162-strong fleet includes 18 of Boeing’s 737 Max 8 model, which aviation authorities across the globe have grounded, after it suffered its second fatal crash [...]
Manx Telecom eyes global expansion as it reveals £255m takeover offer March 13, 2019 Isle of Man mobile and broadband provider Manx Telecom saw its shares jump almost 15 per cent this morning after posting a modest rise in revenues for the full year as it announced a £255m takeover. Read more: Manx Telecom on track to hit revenue growth targets The figures Revenue rose 3.8 per cent from [...]
Balfour Beatty: UK’s largest construction firm returns margins to ‘industry standard’ March 13, 2019 Balfour Beatty’s turnaround plan has returned the once troubled construction firm to “industry standard” margins, according to chief executive Leo Quinn. The biggest constructor in the UK reported an increase in profits and an order book growing more than a tenth year-on-year in its 2018 results, prompting shares to rise 1.2 per cent in morning trading. [...]
Dixons Carphone hit with £30m fine for mis-selling mobile phone insurance March 13, 2019 Dixons Carphone has been fined £29.1m for historic mis-selling of mobile phone insurance. The Financial Conduct Authority (FCA) issued the penalty for behaviour between December 2008 and June 2015 at Dixons’ subsidiary, Geek Squad. Read more: Games and TV boost helps offset mobile phone slump at Dixons Carphone Geek Squad staff were trained to recommend [...]
Avast shares drop as CEO prepares to step down despite cyber fears pushing profits up March 13, 2019 Cyber security firm Avast saw its shares fall more than five per cent this morning after it announced chief executive Vince Steckler will step down later this year. Read more: Avast sets sail on substantial maiden results The figures Avast’s revenue rose 24 per cent from $652.9m (£498m) to $808.3m. Operating profit doubled from $124.3m [...]
Morrisons hikes dividend on confident outlook despite £86m blow to profits March 13, 2019 Morrisons has welcomed last year's jump in like-for-like sales with a special dividend, it revealed today, though profits were hit by £86m in costs as the supermarket closed a pension scheme and paid off loans. Read more: Morrisons and Tesco flag concerns over Sainsbury's-Asda merger The figures Profit before tax fell 15.8 per cent year on year [...]
DEBATE: With just 16 days to go until Brexit, is there any point to the Spring Statement? March 13, 2019 With just 16 days to go until Brexit, is there any point to the Spring Statement? Yael Selfin, chief economist at KPMG, says YES. While Brexit is likely to dominate minds again this week, and continue to bring a fog of uncertainty over the outlook for the UK economy, the Spring Statement is still important. [...]
Economics could teach Theresa May a thing or two about tackling knife crime March 13, 2019 Knife crime continues to dominate the headlines. What can be done about it? Economics does not pretend to provide all the answers. But, perhaps surprising to some, it has a lot of useful insights to offer on crime. Gary Becker was a professor of both economics and sociology at Chicago. One day he was pushed [...]
The left should listen up: Tax reform is a progressive cause March 13, 2019 In 2012, the columnist Mary Dejevsky wrote a piece for the Independent arguing that the centre-left should advocate a flat tax. It was in response to the publication of the Single Income Tax, the final report of the 2020 Tax Commission, convened by the TaxPayers’ Alliance (TPA) and the Institute of Directors, and chaired by former [...]