Asos shares nosedive after it warns on bleak pre-Christmas trading December 17, 2018 Shares in Asos fell more than 35 per cent this morning after it warned of a “significant deterioration” in its pre-Christmas trading. The online retailer reported sales growth of 14 per cent in the three months to the end of November. But the company said it had seen the “weakest growth in online clothing sales [...]
UK export growth contracts for first time since 2015 as European economies face turmoil December 17, 2018 UK export growth has dropped to its lowest level since 2015 as political uncertainty and falling demand take their toll on European economies. The growth of UK exports fell by 0.7 points to 94.9 in the fourth quarter 2018, according to figures from BDO’s latest European Export Index. The UK is not the only European [...]
The unstoppable rise of podcasts: How an industry was reborn December 16, 2018 It seems nothing can stop the rise of podcasts. On-demand listening has become the sine qua non of the commuter; the lifeblood of dinner party conversation. Popular podcasters attract millions of listeners, and advertisers are starting to reap the rewards. And yet podcasts are not a new phenomenon. They predate Facebook, Youtube and Twitter, and [...]
Tube driver salaries break £100,000 barrier despite train automation December 16, 2018 Some London Tube drivers are now earning more than £100,000 a year, despite new technology that makes their jobs easier. Figures obtained by the Sunday Times reveal the highest-paid driver earned £103,374 in the year to November, a 69 per cent rise since 2012. The surge in pay comes despite five of the network’s 11 lines [...]
Debenhams chairman tells Mike Ashley to make a bid for the chain amid loan row December 16, 2018 The chairman of Debenhams has told Sports Direct owner Mike Ashley to make a bid for the entire department store chain if he is serious about taking control of the company. Sir Ian Cheshire today issued an ultimatum to the tycoon, who holds a 30 per cent stake in the struggling department store, amid a [...]
Renault keeps Ghosn as chief executive and chairman December 13, 2018 Renault will keep Carlos Ghosn as its chairman and chief executive after an initial internal investigation found no evidence of wrongdoing, the company said today. Renault said the executive’s compensation was “in compliance with applicable law” and said it would maintain its current governing structure. Under this structure Ghosn retains his positions as chairman and [...]
PZ Cussons remains cautious over full year outlook due to challenges in Nigeria December 13, 2018 Consumer goods manufacturer PZ Cussons reported good performance in Europe and Asia in its half-year results, but warned of challenging trading conditions in Africa. PZ Cussons, which owns brands such as Imperial Leather and Original Source, said new products and increased distribution had driven its strong trading in the six months to the end of [...]
BBC’s Eastenders set revamp goes £27m over budget December 13, 2018 The BBC’s project to rebuild and enlarge the Eastenders set will be £27m over budget and take an extra two-and-a-half years to complete. The cost estimate for the construction project has soared 45 per cent from £59.7m to £86.7m, the National Audit Office (NAO) said today. The expected completion date of the project, known as E20, [...]
Two Canadians held in China over national security concerns amid Huawei row December 13, 2018 China’s foreign ministry today confirmed it has detained two Canadian nationals on suspicion of endangering national security. Businessman Michael Spavor and former diplomat Michael Kovrig were arrested on Monday, spokesman Lu Kang said today, according to Reuters. Kang said the two Canadians were being investigated on suspicion of harming China’s national security, and said the [...]
Holiday experiences help travel operator Tui weather the heatwave storm December 13, 2018 Travel operator Tui has reported double-digit sales growth for the full year, as strong performance in hotels and cruises outweighed the impact of the summer heatwave and airline strikes. The figures Reported core earnings rose 10.9 per cent from €1.10bn (£990m) to €1.14bn. Revenues were up five per cent to €19.52bn. Profit before tax fell [...]
