Hundreds of security passes suspended at Heathrow amid police fraud probe August 10, 2016 Hundreds of airside security passes have been suspended at Heathrow. The employees who have had their passes suspended work for Sodexo, which supplies airline lounge services at the transport hub. A spokesperson for the company said: “We can confirm that, as a precautionary measure, the airside passes of approximately 300 employees were suspended but as this [...]
Woof: US pet food firm Blue Buffalo shares up on tasty results August 10, 2016 Pet food company Blue Buffalo’s shares were up in after-hours trading after it reported a sales and earnings growth in the second quarter. Earnings before interest, taxation, depreciation and amortisation (Ebitda) came in at $68m, up 40.7 per cent. Read more: Pet insurance claims have gone barking mad Earnings per share (EPS), meanwhile, were up [...]
Fast food Shack’s growth can’t shake off investor concerns August 10, 2016 Shake Shack’s shares plummeted in after-hours trading on Wednesday despite the fast food company reporting expectation-beating results. The US company’s share price fell to just over $37 on Wednesday evening – down from more than $70 a year ago amid investor concerns over growth and valuation. Read more: Flipping good: Shake Shack shares up after [...]
Hillary Clinton makes jobs pledge and attacks Trump “temperament” August 10, 2016 Democrat Hillary Clinton today unveiled plans she said will help create an economy that works for everyone and not just those at the top, days after rival Donald Trump promised huge tax cuts. Speaking at a campaign rally in Des Moines, Iowa, Clinton said she would seek to pass the largest investment in job creation [...]
Can we get a witness? Ed Sheeran facing copyright suit over Marvin Gaye classic August 10, 2016 Ed Sheeran has been hit with a copyright suit in the US over claims his smash hit Thinking Out Loud rips off the Marvin Gaye classic Let's Get It On. The suit has been brought by descendants of the late Ed Townsend, who wrote the 1973 hit with Gaye and held the copyright. The lawsuit, filed yesterday US federal court [...]
Why the post-Brexit economic doom and gloom may have been greatly overdone August 10, 2016 Something quite remarkable happened in the UK economy in June. UK broad money growth M4ex rose 5.8 per cent (year-on-year) – its fastest rate since the introduction of quantitative easing in 2009. Indeed, the growth rate is approaching the 6 per cent baseline for broad money growth that the Bank of England announced was its target [...]
Fewer mall trips hit Michael Kors sales figures August 10, 2016 Michael Kors shares dropped on Wednesday as sales figures were hit by fewer mall trips. The figures The handbags, clothing and jewellery company’s net sales came in at $957.3m (£735.9m) in the three months to 2 July, up from $947.3m. Wholesale net sales fell by seven per cent to $394.4m from $424m. Total revenue was reported to be $987.9m, [...]
Markets impressed by steady performing Interserve August 10, 2016 Shares in support services provider Interserve leapt nearly 17 per cent today after unveiling resilient half-year results. Revenues and operating profit nudged two per cent higher compared to 2015 with interim dividends increasing by a similar amount. "Trading in the first half of the year, across the vast majority of our divisions and our regions, has been good, [...]
The RMT’s dangerous strikes are a cynical ploy to pave the way for rail renationalisation August 10, 2016 There is no general upsurge of industrial militancy in the UK: the latest figures show both numbers of stoppages and days lost to strikes remain low. The cluster of RMT actions – against Southern Railway/Govia Thameslink (now suspended), Virgin East Coast and Eurostar – will not be a harbinger of a new wave of damaging [...]
Paysafe looks to pocket profits by bolstering its digital wallet business August 10, 2016 Payment solutions company Paysafe has revealed it hopes to rake in the cash from its digital wallet business, including launching a new mobile-enabled wallet in September. Joel Leonoff, Paysafe president and chief executive, described the product in the pipeline as being focused on generic goods, including pharmaceutical products, groceries and alcohol. "What we're building and what we're [...]