Who is the richest person in China? Alibaba’s Jack Ma tops new list September 23, 2014 Alibaba founder Jack Ma is now the richest man in China – but he still falls outside the list of the world's 10 richest people. A report published today puts the 50-year old founder of Alibaba Group Holding in pole position among China's wealthiest for the first time, after the ecommerce giant's record breaking [...]
Tesco loses more market share as supermarket sector slows to record low September 23, 2014 Growth in the supermarket sector has slowed to an all-time low, with Tesco once again losing market share to Asda, Aldi and Lidl. The troubled supermarket, which yesterday revealed a £250m black hole in its profits, saw its market share drop 4.5 per cent in the 12 weeks to September 14. During the [...]
Mothercare share price plunges on news of £100m rights issue September 23, 2014 Mothercare's share price has plunged after revealing plans to launch a £100m rights issue as it looks to fund a wide-ranging turnaround strategy. The business, which saw its share price fall by as much as 12 per cent this morning, will issue £100m worth of new ordinary shares at 125p, underwritten by Numis Securities, [...]
Opinion poll puts Labour six points ahead of Conservatives as welfare cuts become top of the agenda for voters September 22, 2014 Labour is leading a new opinion poll by six points, taking 33 per cent of the mock vote, after the Conservatives dropped down to take only 27 per cent. Ukip meanwhile rose in favour, and now has a convincing lead over the Liberal Democrats, being backed by 17 per cent of those canvassed by [...]
Watch: In 1999 Alibaba founder Jack Ma told team to ditch 8-5pm work ethic (and that “the dream of the internet won’t burst”) September 22, 2014 How did ecommerce giant Alibaba go on to have the biggest IPO in history? Well perhaps this video gives us an idea. Back in 1999, Jack Ma told his team to emulate the “hard-working spirit of Silicon Valley” if they wanted Alibaba to suceed. “If we go to work at 8pm and go [...]
Scotch Whisky Association calls for government support over “trade barriers” as exports drop to 25-year low September 22, 2014 This isn't just a hangover from the Scottish referendum. Sales of Scotch whisky, one of the country's biggest and most emblematic exports, dropped 11 per cent in the first half of 2014, figures out today show. Sales of the drink fell £220m to £1.77bn for the six months to the end of [...]
Labour Party Conference: Scottish referendum was “near death experience” for Westminster, says McCluskey September 22, 2014 The Scottish referendum should act as a wake up call to Westminster politicians that “you ignore the hopes of working people at your political peril”, Unite general secretary Len McCluskey told Labour MPs today. Opening with a quote from Russian revolutionary Vladimir Lenin, the union leader told delegates that the independence referendum had been [...]
Scottish independence referendum: Traders bet on No vote to win September 18, 2014 How is the Scottish referendum affecting markets? Well the last opinion poll put No at 53 per cent, while the Yes campaign was at 47 per cent but if today's currency movements are anything to go by investors are much more confident that the union will not be broken up. So far today, [...]
Monitise share price tanks after Visa Inc reveals plans to reduce stake September 18, 2014 Monitise's share price is tanking today, after Visa Inc said it was looking at options to reduce its stake in the business. Shares in the British tech business had fallen more than 35 per cent at pixel time, wiping hundreds of pounds off its market value and making it the biggest single loser on [...]
Furniture and vacuum cleaners drive retail sales into 17th month of growth September 18, 2014 Retail sales are starting to look healthier, with the volume of items bought in August up 3.9 per cent year-on-year, according to the Office for National Statistics (ONS). This is the 17th month of consecutive year-on-year growth, prompting the ONS to say “it would be true to say that the underlying picture is one [...]
