China crisis for Uber as taxi app is facing crackdown in Beijing January 8, 2015 Controversial cab app Uber is facing a ban in Beijing, with officials in the Chinese capital saying that internet hailing apps violate rules against illegal taxis. The San Francisco-based company has faced numerous regulatory difficulties over the past few months. Use of the app is no longer permitted in New Delhi after one of its [...]
Rock bottom rates might not rise until 2016 January 8, 2015 POLICY makers at the Bank of England kept interest rates at 0.5 per cent yesterday. The decision was widely expected as inflation is expected to fall further below the Bank’s two per cent target over the next few months. In December, inflation as measured by the annual change in the consumer price index was one [...]
TheTrainline.com IPO: Chief executive Clare Gilmartin is ready to test the markets January 8, 2015 Stock market flotations are very much at the glamorous end of business in the City. Relatively young firms are suddenly exposed to public markets, and gain huge recognition – not to mention financial rewards – for their hard work building the business. It is certainly an adventure for bosses and owners. Visits to investment banks [...]
Sarver kicks off Rangers debate with a new bid January 8, 2015 AMERICAN multi-millionaire Robert Sarver yesterday returned with a new £20m offer for Rangers, after the Scottish football club rebuffed his first £18m approach on Wednesday. The new proposal is for a majority stake in the once-unassailable Glasgow club and comprises a new share placing worth 20p a share. As part of the offer, Sarver will [...]
It’s end to end stuff for Sarver’s reputation at the Phoenix Suns January 8, 2015 ROBERT Sarver had seen his basketball team reach the end of season play-offs five times in his first six seasons as owner, between 2005-2011. But a fallow period that followed saw him develop a reputation as a cheapskate among some fans. Dave King, the managing editor of fansite Bright Side of the Sun, said that [...]
Signet Jewelers share price takes a hit despite Christmas sales boost January 8, 2015 Despite reporting a 4.2 per cent jump in sales during the eight weeks ended 31 December, shares in Signet Jewelers dropped by over five per cent yesterday. The retail jewellery business reported a 9.7 per cent jump in same store sales in its UK jewellery division, which includes H.Samuel and Ernest Jones. Mark Light, Signet’s [...]
Tesco store closures: Councils digest shock as Chesnut HQ staff move to Welwyn Garden City and outlets shut January 8, 2015 While investors rejoiced, councils and local planning authorities were left reeling yesterday after Tesco announced it would close its Cheshunt HQ, some existing stores and shelve new planing projects amid a raft of changes aimed at cutting costs. Britain’s biggest supermarket said staff at its north London base would move to its offices in Welwyn [...]
Tesco mulls dumping data arm Dunnhumby in asset sell-off January 8, 2015 Britain’s largest supermarket Tesco said yesterday it could sell off its Dunnhumby data business as it announced plans for widespread cost-cuttings and asset sales. The retail titan said it had appointed Goldman Sachs to explore the options for Dunnhumby – the company that helped to create Tesco’s customer clubcard scheme in 1995. Those options could [...]
Halfords share price plunges as chief executive Matt Davies poached by Tesco January 8, 2015 Shares in bikes-to-car parts retailer Halfords plunged 8.5 per cent yesterday after Tesco announced it had poached chief executive Matt Davies to head up its UK and Ireland business. The former Pets at Home boss was hired in 2012 to lead a turnaround of the tired chain, which had issued nine profit warnings in the [...]
Defined benefit plan to close for Tesco’s 350,000 scheme members January 8, 2015 TESCO will close its deficit-laden pension scheme next year, bringing the curtain down on one of the few remaining final salary schemes in the FTSE 100. The supermarket giant’s scheme, which has 350,000 members, will shut to current members in February 2016. Tesco will transfer members into a new plan. The group will launch a [...]
