Law firm claims “dramatic victory” in its fight to gain equal pay for women working at Asda October 14, 2016 Law firm Leigh Day has claimed a "dramatic victory" in its fight to gain equal pay for women working at Asda. Employment Judge Ryan has ruled that women in Asda stores will be able to compare themselves to higher-paid men working in the supermarket's distribution centres. Read more: M&S makes £100m payout to employees to cushion [...]
Kazakhstan’s $50bn Kashagan oil field starts up production October 14, 2016 Kazakhstan's huge Kashagan oil field has exported its first ever shipment, the country's energy ministry said today. The field, located in the Caspian Sea, has loaded 26,500 metric tons of crude oil for export into local pipelines, the ministry said in an email. The site has had a troubled history since being discovered in 2000. Bringing it online was [...]
Nissan boss leaves meeting with Prime Minister Theresa May on a positive note October 14, 2016 Nissan's chief executive Carlos Ghosn has visited Prime Minister Theresa May to talk about Brexit following signals that the carmaker will halt investment in the UK. After leaving the meeting, Ghosn suggested that it went smoothly. According to Sky News, he told reporters he is "confident the government will continue to ensure the UK remains a competitive place to [...]
Profits dip at Wells Fargo as it deals with departure of boss John Stumpf October 14, 2016 Wells Fargo has revealed profits dipped during the three months to the end of September, in a week that's seen its chief exec John Stumpf make a dramatic departure. The figures Net income was down to $5.64bn (£4.6bn) from $5.8bn last year, and earnings per share dropped to $1.03 from $1.05. Revenues rose to $22.3bn [...]
Flash crash trader loses challenge against extradition to the US at the High Court October 14, 2016 Navinder Sarao, the trader accused by US authorities of contributing to a 2010 flash crash, cannot appeal a ruling that he must be extradited to the US to face charges carrying a maximum sentence of 380 years. At the High Court today, Lord Justice Gross said it was "clear" the court must turn down his application. [...]
Deutsche Bank could cut another 10,000 jobs October 14, 2016 Deutsche Bank could be preparing to cut another 10,000 jobs in a massive cost-saving drive. According to a Reuters report, the German lender's finance boss, Marcus Schenck, told staff in September the bank will need to "cut another 10,000 staff" on top of the 9,000 job losses announced by chief executive John Cryan last October. Read more: Deutsche [...]
Former William Hill boss Ralph Topping slams plans to merge with Canada-based gambling group Amaya October 14, 2016 Former William Hill chief executive has called on the bookmaker's current management staff to axe plans to conduct a £4.5bn merger with Canadian online betting giant Amaya. Ralph Topping, who led the company for eight years before departing in 2014, said he "fully support[s]" majority shareholder Parvus Asset Management, which yesterday slammed a possible deal, saying it [...]
JP Morgan Chase beats expectations as it begins Wall Street bank reporting session October 14, 2016 JP Morgan Chase beat expectations in its third quarter results on Friday morning. The figures The bank reported revenue of $25.5bn (£20.8bn), ahead of analyst expectations of $24bn. The turnover figure was up 8.4 per cent. Earnings, meanwhile, came in at $1.58 per share. This was ahead of the $1.39 per share that analysts were [...]
London travel disruption: Delays and cancellations on trains in and out of Paddington due to person hit by train October 14, 2016 Travellers journeying through Paddington could be affected by severe disruptions at the station this afternoon, after a person was hit by a train this morning between Ealing Broadway and Southall. National Rail said the line between the stations is blocked while emergency services deal with the incident. Some services will be cancelled, while others are delayed, [...]
The fall in sterling has given the UK’s cosmetic surgery sector a facelift October 14, 2016 While the still-falling value of sterling has worried many sectors of the UK's economy, the cosmetic surgery industry has received a veritable lift from the weaker pound. Cosmetic surgery clinics are booming off the back of the Brexit vote and subsequent currency hit, as plastic surgery tourism to UK clinics has been made "considerably more [...]