Philip Hammond is facing a huge £84bn shortfall in public finances over five years, according to policy experts October 26, 2016 Philip Hammond is facing a yawning £84bn shortfall in public finances over the next five years, according to policy experts. The chancellor is set to make his first Autumn Statement in just under a month, but sums from the Resolution Foundation suggest Treasury coffers are going to be under intense pressure thanks to economic turbulence. The think [...]
Apple posts first annual revenue drop for over a decade October 25, 2016 Apple has announced its first year-on-year decline in revenues for over a decade as iPhone sales suffer. Revenue fell nine per cent to $46.85bn (£38.44bn), the third quarterly decline in a row. Analysts were expecting revenue to come in at $46.94bn in the quarter, according to Thomson Reuters. Read more: Shares in this Apple supplier [...]
One new runway at Heathrow isn’t enough for our ultra dynamic aviation industry October 25, 2016 Few industries have been more dynamic and disruptive than aviation. No one foresaw the rapid shift from propeller planes to jets, the overnight rise of transatlantic jet travel or the 5 per cent cumulative annual passenger growth between 1970 and 2010. Other trends also came as a surprise, including the explosion in airport retail and [...]
Ofcom to slap Vodafone with multimillion pound fine October 25, 2016 Vodafone will be slapped with a multimillion pound fine for how it deals with complaints and how it handles its pay-as-you-go service. Ofcom will announce the outcome of two investigations tomorrow. Sky News has reported that the two 18-month probes have both found significant failings in Vodafone's UK business. Read more: Vodafone and Inmarsat team up [...]
Procter & Gamble shaves its costs and rakes in a rise in sales October 25, 2016 US consumer goods giant Procter & Gamble has posted a surprise rise in sales that sent shares higher in New York, despite warning over growth in coming months. P&G, which owns a variety of brands including Head and Shoulders shampoo and Gillette razors, reported a profit for the quarter of $2.7bn (£2.2bn), or 96 cents [...]
America is embracing the opportunities of AI while the rest of the world frets October 25, 2016 The rise of artificial intelligence (AI) continues to generate concerns. The latest furore emerged at the start of this week. Researchers in the top ranked University College London computer science department claimed that an AI algorithm correctly predicts the outcome of 79 per cent of cases heard at the European Court of Human Rights. The current fear [...]
Whirlpool sales lowered by the strong dollar October 25, 2016 Shares in US white goods maker Whirlpool took a hit today after it give a downbeat outlook for coming months. It cut full-year earnings per share forecasts to between $11.50 and $11.75 from $12 to $12.50. Adding to the washout Whirlpool reported it had missed expectations in both third-quarter profit and sales. Profit came in at [...]
US mobile network Sprint narrows losses on higher revenue and more customers October 25, 2016 US mobile network challenger Sprint has narrowed its losses in its latest quarter thanks to higher revenue from more customers. Sprint is targeting rapid growth by offering its service at a heavy discount to its rivals and managed to pull in almost 350,000 contract customers for its fifth consecutive positive growth quarter after years of [...]
Wind in CK Hutchinson’s sails as its network deal approved by Italians October 25, 2016 A merger of CK Hutchison’s 3 Italia and Italian network Wind has been given final approval in Italy, just months after the European Commission stepped on Hutchison’s bid for O2. Wind owner Vimplecom – backed by Russian billionaire Mikhail Fridman – said the nod meant it was on course to complete the deal before the end [...]
Amazon Echo review: Or how I started talking to a little black cylinder every day October 25, 2016 How often do you trust Siri to do much besides setting a timer when you’re cooking pasta, or telling you whether or not it’s going to rain? Since they crept into our pockets, virtual assistants haven’t progressed much past the point of pseudo-capable helpers, who are unreliable in most roles beyond fancy egg-timers and meteorologists [...]