Airbus’s performance prompts increase in full-year guidance October 28, 2021 Airbus’s third quarter results performed better than expected, prompting the company to increase its full-year guidance for 2021 to 600 commercial aircraft deliveries and an EBIT Adjusted of €4.5bn. “Based on our nine-month performance, we have updated our 2021 earnings and cash guidance,” said Airbus’s chief executive Guillaume Faury. “We are strengthening the balance sheet [...]
Amazon posts another jump in sales but warns of ‘billions’ of additional Q4 costs October 28, 2021 Amazon has warned investors it is expecting to incur “several billion dollars of additional costs” due to labour shortages, increased wage costs and global supply chain issues. The firm posted third quarter sales of $110.8bn (£80bn) in the three months to end of September, a 15 per cent jump year on year. Amazon said the [...]
Treasury makes £1.5bn from pandemic stock market frenzy October 28, 2021 Next year, the Treasury is expected to make £1.5bn from stamp duty taxes on shares, as a result of the pandemic stock market frenzy, which saw many first-time investors put money into the market, the Evening Standard reported. While this year duty taxes on shares were £800m higher than £3.4bn that was initially forecast by [...]
Hello Meta: Zuckerberg announces Facebook’s new name October 28, 2021 Facebook’s chief executive Mark Zuckerberg announced in his keynote address that the company starting today will be called Meta. “Facebook is one of the most used products in the history of the world and it’s an iconic social media brand but increasingly it just doesn’t encompass everything that we do,” Zuckerberg said. “I want to [...]
Biden asks Democrats for support over $1.75tn spending framework October 28, 2021 US President Joe Biden has announced he had secured a $1.75tn spending framework to invest in the economy and climate change. Biden expressed his confidence in the plan, saying it could win the backing of all Democrats and pass the Senate, Reuters reported. “Today I’m pleased to announce after months of tough and thoughtful negotiations, [...]
All countries to be removed from red list confirms Shapps October 28, 2021 Transport secretary Grant Shapps has confirmed that all remaining countries on the UK Government’s red travel list will be removed from 1 November at 4am, putting an end to quarantine hotels. The list – which was amended on 7 October – included Colombia, the Dominican Republic, Ecuador, Haiti, Panama, Peru and Venezuela. “We can also [...]
Ryanair to refund passengers after public mishaps October 28, 2021 Ryanair has announced it will start refunding customers of cancelled flights within five working days. Part of a company campaign to improve its image, the measure was set after the Dublin-based carrier held its first customer panel meeting in September, when customers all over Europe met with senior management to provide recommendations on customer service. [...]
UK car production falls 41.5 per cent as shortages plague industry October 28, 2021 Car production in Britain shrank 41.5 per cent in September, as only 67,169 vehicles were produced. Figures from the Society of Motor Manufacturers and Traders (SMMT) showed that September was the third consecutive month of decline and the worst-performing September since 1982. Domestic and export markets sank respectively by 47.4 and 39.6 per cent. Global [...]
Third Point calls to break up Shell after acquiring a $750m stake October 27, 2021 Wall Street hedge fund Third Point has called to break up Royal Dutch Shell after acquiring a $750m majority stake in it. Third Point is urging the oil giant to split up into multiple companies to increase its performance and market value, accusing Shell of having an “incoherent” set of strategies for its businesses, a [...]
John Lewis in hot water as “misleading” ad is pulled October 27, 2021 John Lewis was forced to apologise after it aired an ad that was considered potentially misleading by the financial watchdog. “This advert has been withdrawn because the Financial Conduct Authority (FCA) considers the content to be potentially misleading and could cause customers to be confused about John Lewis’s new home contents insurance offering,” the department [...]
