B&Q owner Kingfisher plans foreign market exit as France drags down sales November 21, 2018 B&Q owner Kingfisher today said it will exit Russia, Spain and Portugal to focus on its struggling French operations after a drop in like-for-like sales in the third quarter, sending shares down more than two per cent in early trading. Total sales rose 1.2 per cent to £3.04bn in the three months to the end [...]
Buzzfeed founder hints at media mega-merger as the publisher launches new membership scheme November 20, 2018 Buzzfeed’s chief executive has said he would consider a merger with other media organisations as the publisher launches a shake-up of its business model. Jonah Peretti, who co-founded the website in 2006, said on Monday a series of mergers between online media companies could be the answer to the current challenges faced by news organisations. [...]
Johnston Press sale under scrutiny as pensions put at risk November 20, 2018 The new owner of publishing group Johnston Press is facing scrutiny from MPs and the pensions watchdog over its handling of a rescue deal that puts pensions at risk. Work and pensions committee chair Frank Field yesterday wrote to the Pensions Regulator to express concerns about Johnston Press’ pension scheme, which is being assessed by the [...]
Ghosn is not fit to lead Renault after arrest, says French finance minister November 20, 2018 Renault chairman and chief executive Carlos Ghosn should not remain in charge of the company following his arrest in Japan, the French finance minister said today. “Carlos Ghosn is no longer in a position where he is capable of leading Renault,” Bruno Le Maire told local media, according to Reuters. “Nevertheless, we have not demanded [...]
Easyjet flies in the face of Brexit worries as profits and bookings soar November 20, 2018 Low-cost airline Easyjet remains positive about its 2019 outlook as rising profits and revenues for the year to the end of September defied Brexit concerns and rising costs. The figures Pre-tax profit rose 41.4 per cent to £578m and revenues were up 16.8 per cent to £5.9bn. The airline raised its dividend to 58.6p subject to [...]
Facebook donates £4.5m to fund local journalists in the UK in fight against fake news November 19, 2018 Facebook will donate £4.5m to support roughly 80 trainee journalists in newsrooms across the UK in a bid to plug the gap caused by the decline of local media. The social media firm said it has partnered with the National Council for the Training of Journalists (NCTJ) and a range of British publishers to help [...]
Equinix to spend £90m on Slough data centre to support the City’s increasing reliance on data November 19, 2018 Technology infrastructure giant Equinix is building a £90m flagship data centre to support increased reliance on data by City firms, the company said today. The US firm said the new and expanded facilities will support growing volumes of data, including increased traffic in the City. The project, dubbed LD7, is due to be completed in early 2019. The new facility [...]
Telecom Italia appoints Luigi Gubitosi as new chief executive after ‘Whatsapp ousting’ November 19, 2018 Telecom Italia has named a former Merrill Lynch banker as its new chief executive, less than a week after it reportedly ousted its former boss via a Whatsapp message. The board of Italy’s largest telecoms firm selected Luigi Gubitosi, a veteran manager who has held senior roles at companies such as Fiat and Wind Telecom, during [...]
Housebuilder Weston sees profits soar as it plans £28m expansion November 19, 2018 Housebuilder and office provider Weston has reported a huge increase in revenue and pre-tax profits as the developer cashes in on rising demand for new homes. The volume housebuilder, which operates in London and the south east, said its pre-tax profits increased over 50 per cent year on year to £35m. The group’s revenue was up [...]
Renault shares plummet as chairman Carlos Ghosn arrested after financial misconduct investigation November 19, 2018 Shares in Renault plunged 10 per cent this morning as the car manufacturer's chairman and chief executive was arrested on suspicion of under-reporting his salary. Carlos Ghosn, who is also chairman of car manufacturer Nissan, is being investigated by Japanese authorities and has been arrested by prosecutors, according to Reuters. In a statement Nissan said [...]
