Turbulent year hits African budget airline Fastjet June 2, 2016 London-listed African budget airline Fastjet said a poor financial performance in 2015 had overshadowed its progress with plans to dominate the region's low cost air travel market. The figures Revenue grew 21 per cent to $65.1m (£45.1m) from $53.8m in 2014. The company narrowed its post-tax loss for the year to $16.9m from $58.5m. Fastjet also [...]
Iran says it won’t support a production cap as tensions mount ahead of Opec meeting June 2, 2016 Tensions are mounting ahead of today's meeting of the Organisation of Petroleum Exporting Countries (Opec), as Iran and Saudi Arabia look set to battle it out over a proposed new cap on oil production. According to Opec sources, Saudi Arabia will propose a new output ceiling at today's meeting in Vienna, in an attempt to [...]
EU referendum: Would a Brexit free the UK workplace from EU red tape? June 1, 2016 The Leave campaign has said that by 2020 it will impose visa requirements on all foreign workers seeking employment in the UK. The pre-24 June scenario of EU workers having “freedom of movement” (no visas, no additional costs of hiring) will no longer apply. An Australian-type points based system will be introduced. This means employers have to satisfy [...]
Goldman Sachs reportedly cuts dozens of investment banking jobs June 1, 2016 Goldman Sachs has reportedly cut dozens of investment banking jobs across its global locations over the past number of weeks. Affected roles included managing directors, executive directors and vice presidents in the mergers and debt and equity capital markets teams, according to a Bloomberg report. The job cuts affected offices in London, New York and Hong [...]
What’s the answer to dealing with difficult questions? June 1, 2016 As the debate over whether Britain should leave the EU intensifies we are once again exposed to the interminable dance of politicians being asked questions and subsequently not answering them. Nobody seems to have any idea what will happen. It appears that the Leave Campaign can only repeat horror stories about immigration if we stay, and [...]
Halfords reports rise in revenue and profit for 2016 June 1, 2016 Motoring and cycling retailer Halfords has unveiled a new tie-up with an Olympic cyclist, as it reports an increase in revenue and profit in its preliminary results for the 2016 financial year. The figures Sales were up 1.5 per cent like-for-like, to £1.022bn from £1bn, with £869m coming from the group's retail operations, and £153m made through [...]
Toyota is in talks to buy two robotics businesses from Google June 1, 2016 Motor company Toyota is in talks to buy two robotics divisions from Google's parent company, Alphabet. The Japanese firm is interested in buying Boston Dynamics – the firm behind Cheetah, said to be the fastest-legged robot in the world – and Schaft, according to a report from Nikkei. Alphabet is reported to be interested in [...]
Time Inc confirms Myspace hacking May 31, 2016 Social networking site Myspace was hacked over the weekend, with user login data made available in an online hacker forum. Myspace's owner Time Inc confirmed the data breach today, and said the compromised information included Myspace usernames, passwords and email addresses, from the old Myspace platform prior to 11 June, 2013 – the date that the social [...]
One year after Amber Rudd challenged the Big Six energy providers over pricing, there is still more to do to get a better deal for energy consumers May 31, 2016 One year ago, energy secretary Amber Rudd wrote to the Big Six to demand why hard-pressed consumers weren’t seeing bigger reductions in their gas and electricity bills. Fresh to her role in charge of the department for energy and climate change, she challenged suppliers to explain why they had failed to pass on significant wholesale [...]
