Sugar tax raises £154m but the government warns more must be done November 21, 2018 The sugar tax on soft drinks has raised £153.8m since it came into force in April, the government has said. The levy was rolled out seven months ago to help tackle childhood obesity, with revenue used to fund physical education in primary schools. The figure is less than half the original amount estimated when the tax was [...]
Thyssenkrupp predicts higher profits as it attempts to rebuild reputation November 21, 2018 Thyssenkrupp forecast higher profits next year as it reported a fall in income and sales during a gruelling 2018 fiscal year for the company. The figures Profit after tax and costs were down to €60m (£53.4m) from €270m the previous year. Earnings before interest, tax, depreciation and amortization fell to €1.55bn from €1.72bn the year [...]
Online sales are set to hit record levels on Black Friday as high street footfall declines November 21, 2018 The proportion of sales made online is likely to hit its highest level ever in November, boosted by a Black Friday internet shopping rush and fewer high street shoppers. Internet sales are expected to exceed 20 per cent of total retail sales for the first time ever this month, according to research by real estate firm [...]
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 [...]