AA wins multi-million-pound contract to service VW cars December 18, 2018 The AA today secured a two-year extension to its contract with Volkswagen in a deal worth tens of millions of pounds. The breakdown cover provider will continue to cover all new vehicles in the Volkswagen group, which includes Audi, Seat and Skoda, the company said today. The two companies have worked together since 2014, and [...]
Cityfibre secures £1.12bn debt package to fund UK full-fibre rollout December 18, 2018 Fibre network provider Cityfibre has secured a £1.12bn debt package from seven major financial institutions to help fund its rollout of full-fibre broadband across the UK. Proceeds from the infrastructure debt package will be used to fund the first part of Cityfibre’s £2.5bn plan to bring full-fibre to five million homes, the company said today. [...]
Ofcom unveils new rules on spectrum auction amid mobile blackspot crackdown December 18, 2018 Ofcom today unveiled new rules to make operators improve mobile coverage as it vows to crack down on blackspots in rural areas. While 66 per cent of the UK has good 4G coverage, too many rural areas are left with “patchy or unreliable” mobile reception, Ofcom’s Connected Nations report found. Ofcom said complete 4G coverage in [...]
BT to shake up executive pay amid shareholder revolt over boss’s bonus December 18, 2018 BT today said it will rethink its executive pay strategy after shareholders fought back at the outgoing chief executive’s £2.3m pay packet. The embattled telecoms group said it was “disappointed” at the results of a vote on its annual remuneration report, which saw 34 per cent of shareholders vote against the proposed pay. Much of [...]
Angling Direct sales jump 32 per cent after bumper Black Friday December 18, 2018 Fishing specialist Angling Direct saw its sales soar in the four months to the end of November as customers rose to the bait of its Black Friday offers. Angling Direct reported a 31.5 per cent increase in sales to £14.6m, boosted by a 24 per cent rise in online sales and record Black Friday trading. [...]
New fines rolled out as government targets company bosses in cold call crackdown December 17, 2018 Bosses of companies that make nuisance calls face personal fines of up to £500,000 as part of a new government crackdown. New laws allow the UK’s data protection watchdog, the Information Commissioner's Office (OCI), to directly target bosses responsible for the cold calls. It is hoped the measures will stop directors filing for bankruptcy in [...]
H&M shares tumble as sector uncertainty outweighs sales growth December 17, 2018 H&M today reported a rise in sales in the three months to the end of November, but saw its shares tumble amid doubts about the company’s recovery. The Swedish fashion brand said sales rose 12 per cent year-on-year to 56.4bn Swedish krona (£4.9bn). But the positive trading update did little to prevent a fall in [...]
Big Yellow bags planning permission for extended Battersea site December 17, 2018 Self-storage firm Big Yellow today said it has secured planning permission to develop its Battersea site. The company said the project will create a new 72,000 square feet (sq ft) Big Yellow store, 168 flats and 18,500 sq ft of offices, retail space and artists’ studios. Big Yellow currently operates a smaller shop on the [...]
Nissan boss tells Renault to heed its warnings over Ghosn misconduct charges December 17, 2018 Nissan’s chief executive today called on Renault board members to listen to its reasons for sacking former chairman Carlos Ghosn. Renault said last week it would keep Carlos Ghosn, who is in detention in Tokyo on charges of financial misconduct, as its chairman and chief executive. But Nissan boss Hiroto Saikawa said the Renault board [...]
Activist investor launches searing attack on Just Eat over poor returns December 17, 2018 One of Just Eat's shareholders has slammed the company’s management, saying the firm has become the “worst-performing public equity in online food delivery”. Cat Rock Capital, which holds a two per cent stake in Just Eat, urged the board to offload non-core assets, provide a three-year financial plan and change pay incentives for executives in a [...]
