Coca-Cola gulps down quarterly decline in sales as emerging markets prove difficult October 21, 2015 The third quarter proved less than sweet for Coca-Cola, which has unveiled a five per cent decline in reported net revenue to $11.4bn (£7.4bn) during the three months to the beginning of October. The company, which has been grappling with a new-found desire among its traditional customers to stay healthy, as well as volatile currencies, [...]
Yahoo announces new ads deal with Google after revealing underwhelming results October 21, 2015 Yahoo last night posted an underwhelming 6.8 per cent increase in revenue for the three months to September and announced a new advertising agreement with Google. Google will pay Yahoo a percentage of revenue from ads displayed on Yahoo sites and get fees for requests for images or web search results. Yahoo’s net profit came [...]
City executives including Trinity Mirror’s Sly Bailey plan exchange for real estate October 21, 2015 A team of high-profile City executives is preparing to launch the world’s first exchange to trade shares in companies that own single commercial property assets, opening up commercial property investment opportunities to a wider range of investors. The venture, London Real Estate Exchange Limited, has been working on plans for months to allow the owners [...]
The nightmare before Christmas: Aldi and Lidl hammer Asda, Morrisons, Sainsbury’s and Tesco October 21, 2015 Britain's biggest supermarkets are facing a crunch Christmas as the pressure from German discounters Aldi and Lidl is ramped up, with experts warning of a bloody battle for this year’s festive season. The German duo have both seen growth rates return to over 17 per cent in the past three months, according to data from [...]
Digital firms in Tech City UK’s Future Fifty raise £470m as international expansion increases October 21, 2015 Companies in the Future Fifty programme have raised £470m in funding during the first nine months of 2015, up 63 per cent on the total raised throughout the whole of 2014. Tech City UK, which runs the programme, said the “exceptional fundraising activity” was linked to “unprecented rates of international expansion”. Publicly funded Tech City [...]
Well, this is awkward: Xi Jinping’s trade deals visit overshadowed by growing concern over China’s impact on UK steel industry October 20, 2015 The government is making its case for stepping up the Sino-British relationship by announcing £30bn worth of new trade and investment deals, despite escalating concerns that the UK steel industry is crumbling at the hands of Chinese manufacturers. The Prime Minister announced the business deals, which the government says will create more than 3,900 jobs [...]
Shelter warns government’s plans to freeze housing benefit could be devastating for London families October 20, 2015 Government plans to freeze housing benefit could have a devastating on over 100,000 families who privately rent in London, according to new research from housing charity Shelter. The freeze, which comes into force next April, will keep housing benefit, which helps lower income families to pay rent – and only covers rents in the cheapest third [...]
Consumer anxiety around rogue traders and cowboy builders is costing the UK £6bn – FMB October 20, 2015 Shoddy tradespeople and cowboy builders are costing the UK economy more than £6bn a year, according to new research out today from the Federation of Master Builders (FMB). The data shows that consumers are letting their anxiety around hiring poor workmen curb their spending on home improvements. One in five consumers with building or repair [...]
As David Cameron vows to raise issue of Chinese steel with Xi Jinping, what are his options? October 19, 2015 Britain’s industrial towns are facing an uncertain future as job losses in the steel industry continue to mount. Calls from those affected to “do something” are understandable. But the truth is that, under current government policies, this once iconic industry (like coal before it) is becoming increasingly unviable. So in the case of SSI, whose [...]
Treasury reveals £15bn annual saving from chancellor George Osborne’s tax credit reforms October 19, 2015 The government has leapt to the defence of its plan to slash tax credits, publishing figures that reveal a £15bn annual saving from reforms introduced since 2010. Chancellor George Osborne is under growing pressure to row back on his plan to slash the threshold at which tax credits start to be withdrawn. Some members of his [...]
