Tesco completes sale of its Kipa business in Turkey March 1, 2017 Tesco has completed the sale of its stake in Turkish supermarket chain Kipa, which it bought in 2003. The sale was first announced in June last year, part of Tesco's efforts to offload its underperforming assets and focus on its core supermarket business. Tesco has also sold restaurant chain Giraffe and its garden centre business [...]
A signal failure on the Northern Line is still causing severe disruption for the capital March 1, 2017 The Northern Line is still dealing with severe disruptions after a signal failure this morning. While the issue has been fixed, it took longer than anticipated and Transport for London said it doesn't have a timescale of how long it'll take the line to get back to normal service. So commuters heading home in rush [...]
CRH shares jump as Trump plans to ramp up infrastructure spending in the US March 1, 2017 Shares in CRH have risen more than five per cent today as US infrastructure spending is seen growing further in 2017. The figures The Dublin-based group posted pre-tax profit up 69 per cent to €1.74bn (£1.49bn) while earnings before interest, tax, depreciation and amortisation (Ebitda) for the full year increased 10 per cent on a proforma basis to €3.13bn. Basic earnings per [...]
Steel billionaire Lakshmi Mittal’s son-in-law Amit Bhatia is a Snap investor and he expects the IPO to boom March 1, 2017 Snap's impending float will be mega successful, according to a London investor in the messaging app. Amit Bhatia, steel billionaire Lakshmi Mittal's son-in-law and founder of Swordfish Investments, took part in a funding round in 2014 that valued the company behind Snapchat at $10bn (£8.13bn). "Far from looking to exit at IPO, I would look to add to my [...]
Transport for London turned a blind eye to the discrimination caused by new writing tests, Uber lawyer tells court March 1, 2017 Uber has today accused Transport for London (TfL) of burying its head in the sand when assessing the level of discrimination involved in its proposed English language testing. The tech giant is challenging the legal basis for rules proposed by TfL which would require private hire drivers to take a written English language test. Legal eagles for [...]
PepsiCo says 380 jobs are at risk as it prepares to shut its Walkers Peterlee factory March 1, 2017 PepsiCo, the US owner of brands including Pepsi and Tropicana, has said it is proposing to close its Walkers Snacks factory in Peterlee, County Durham, putting 380 jobs at risk. Under the plan, production at the plant would be moved to other UK sites, PepsiCo said, as it looks to find "crucial savings" and bolster [...]
Sky internet blackout: Vauxhall workmen blamed for broadband outage that hit tens of thousands of customers March 1, 2017 More than 50,000 Sky broadband customers in London suffered a service blackout after bungling south London workmen severed underground fibre cables and a response team took several hours to get to the scene of the incident. The network shutdown started at 4.30pm yesterday evening, with an inspection team taking three hours to get to the scene. Problems were rectified [...]
Jaguar Land Rover says the new Range Rover Velar will be built in the UK as a sign of “confidence in British manufacturing” March 1, 2017 Jaguar Land Rover has said the new addition to the Range Rover family, the Velar, will be built exclusively in Britain, as a sign of the "firm's confidence in British manufacturing". The model, which launches later today, will be built at its Solihull manufacturing plant in the West Midlands. JLR, which has plants abroad in China, Brazil, [...]
A new chapter: Barack and Michelle Obama sign book deals worth millions with Penguin March 1, 2017 Penguin Random House has signed a book deal with Barack and Michelle Obama that is reportedly worth $60m (£49m). The presidential pair have already written books published by Penguin. Obama wrote a memoir titled "Dreams From My Father", and penned his thoughts on the presidency in "The Audacity of Hope". Both books were bestsellers. Read more: Obama [...]
NCC chief exec Rob Cotton has stepped down after profit warnings March 1, 2017 Cyber security group NCC has announced chief exec Rob Cotton has stepped down today with immediate effect. The departure follows two recent profit warnings, and the group is now on the hunt for a new boss and a new chairman. Paul Mitchell, the current chairman, steps down at the end of May. The company recently appointed [...]