Michelin shares driven up as positive profit forecasts defy cost increases February 12, 2019 Shares in Michelin jumped by double digits this morning after the French firm promised to deliver increased profits in 2019. Michelin’s share price rose more than 10 per cent in early trading after the tyre maker posted better-than-expected full-year results and forecast further growth this year. Read more: Michelin chief a potential successor to Ghosn [...]
Nissan cuts profit forecast and books £65m charge on Carlos Ghosn compensation February 12, 2019 Nissan slashed its full-year profit forecast amid falling sales today as it also took a hit related to compensation for its former chairman, Carlos Ghosn, who is awaiting trial on financial misconduct charges. The Japanese car manufacturer revised its full-year profit forecast from ¥540bn down to ¥450bn (£3.2bn). Read more: No, Nissan’s move is not proof that [...]
Interserve boss Dougie Sutherland steps down amid shareholder revolt February 12, 2019 Interserve director Dougie Sutherland is stepping down from the firm's board with immediate effect amid a bitter dispute over a proposed rescue plan for the outsourcing giant. Sutherland, who was appointed to the board in 2011, was a key player in the firm’s ‘fit for growth’ transformation plan and led Interserve’s developments division. Read more: [...]
Thyssenkrupp profits tumble as steel division troubles and macro woes take their toll February 12, 2019 Thyssenkrupp today posted a sharp drop in first quarter profits as global economic woes and trade conflicts drove up costs. The German conglomerate said income before tax fell 33 per cent to €215m (£189m) in the three months to the end of December. Read more: Thyssenkrupp predicts higher profits after tough financial year Net sales [...]
CMA must investigate the online advertising market, government report states February 11, 2019 The online advertising market must face a probe by the competition watchdog amid concerns tech giants are putting the future of quality journalism at risk, a major government report has found. In its findings published today, the Cairncross Review called on the Competition and Markets Authority (CMA) to investigate the online advertising market to ensure [...]
Hacker stereotypes exacerbate UK’s cyber security skills shortage, warns NCSC February 11, 2019 Negative stereotypes about computer hackers are contributing to a skills shortage in the cyber security sector, according to industry experts. High-profile cyber specialists today warned the industry’s hackneyed reputation as a breeding ground for reclusive computer geeks is misleading and is putting promising students off a career in the profession. Read more: Huawei offers to [...]
Reddit users launch Winnie the Pooh protest against Tencent amid censorship fears February 11, 2019 Defiant images of Winnie the Pooh have sprung up across community news site Reddit as users hit back at a major investment by Chinese tech giant Tencent. Reddit confirmed today that the Chinese conglomerate has contributed a $150m (£116m) investment in the website, which describes itself as the ‘front page of the internet’, as part of a wider [...]
Dentsu Aegis names Euan Jarvie as new chief executive amid leadership overhaul February 11, 2019 Advertising agency Dentsu Aegis has appointed Euan Jarvie as its new chief executive in a bid to shake up its leadership team and focus on the UK market. Jarvie will take on the role as UK and Ireland boss with immediate effect, following a stint as the firm’s president of global clients. Read more: Dentsu [...]
One in 10 high street shops lie empty as retailers face spring reckoning February 10, 2019 The extent of the crisis facing UK retailers was laid bare this morning after new figures revealed one in 10 high street shops lie empty, while a string of upcoming cost increases could deal a death blow to struggling stores in the spring. Rising taxes and a shift to online shopping have ravaged British high [...]
Going for gold: How the Bank of England became a battleground of the Venezuela crisis February 10, 2019 While tens of thousands of Venezuelans continued their revolt against the regime of discredited strongman Nicolas Maduro last week, a rather different form of protest popped up in the Square Mile. A group of far-left protesters, who counted Ken Livingstone and Labour MP Chris Williamson among their ranks, accused the Bank of England of “theft” [...]
