Ryanair ‘saving millions’ in unclaimed compensation October 4, 2019 Ryanair quit an aviation complaints body after being forced to pay more than £3.6m in handling fees and compensation last year. The move could save the budget airline millions but may cause problems for passengers trying to claim money back for flight delays or cancellations. Read more: Ryanair threatening to remove pilot perks over strikes [...]
Ted Baker shares sink further after £23m loss October 4, 2019 Shares in beleaguered fashion brand Ted Baker plummeted for the second day after the retailer revealed it swung to a loss and warned on future profits. Ted Baker shares are down more than 15 per cent this morning, following a 35 per cent plunge yesterday. Read more: Ted Baker shares crash as retailer swings to [...]
Poll: British pound to bounce if UK avoids no-deal Brexit October 4, 2019 The British pound will get a post-Brexit bounce if the UK leaves the European Union with a deal, a new poll of economists shows. However, if no Brexit deal is reached sterling will suffer further losses against the dollar, according to Reuters’ survey. Read more: Sterling jumps to push FTSE deeper into the red If [...]
HP plans to cut up to 9,000 jobs October 4, 2019 HP plans to cut up to 9,000 jobs as the tech giant aims to lower costs and simplify its operating model. The computer firm said that it will reduce its global headcount by around 7,000 to 9,000 employees through redundancies and early voluntary retirements. Read more: HP buys supercomputer firm Cray HP said it expects [...]
Worst September in eight years for high street sales October 4, 2019 Last month was the worst September on the high street in eight years as sales in bricks and mortar stores plummeted. Total like-for-like in-store sales fell by 3.1 per cent last month from a base of minus 2.7 per cent last year, making it the worst September on the high street since 2011, according to [...]
H&M shares surge after quarterly profit rise October 3, 2019 H&M reported its first quarterly rise in pre-tax profit in more than two years this morning as sales spiked due to well-received summer collections. Shares rose more than six per cent this morning as the world’s second largest fashion retailer said pre-tax profit in the period from June to August grew to 5bn kr from [...]
Airbnb hires Morgan Stanley and Goldman Sachs to lead stock market listing October 3, 2019 Airbnb is reportedly preparing to hire Morgan Stanley and Goldman Sachs to advise on its planned stock market debut next year. The short-term rental company is considering going public through a direct listing rather than an initial public offering (IPO) in mid-2020, according to Reuters. Read more: Airbnb plots direct listing instead of traditional IPO [...]
Imperial Brands CEO Alison Cooper quits after profit warning October 3, 2019 The chief executive of cigarette maker Imperial Brands has announced she will step down from the role. Alison Cooper’s departure comes after the firm issued a profit warning amid regulatory crackdowns on e-cigarettes in the US. Read more: US vaping deaths hit growth at Imperial Brands Last week the company said that a spate of [...]
Deliveroo losses deepen in expansion drive October 2, 2019 Deliveroo deepened its losses last year despite soaring sales as it pushed forward with expansion plans. The food delivery app said losses before tax were £232m in 2018 from £199m the previous year. Global sales increased by 72 per cent to £476m for the year. Read more: Deliveroo ad banned over misleading claim it could [...]
Big Boots to fill: Meet the Walgreens exec replacing Tesco’s CEO October 2, 2019 Boots veteran Ken Murphy has been named as the successor to outgoing Tesco chief executive Dave Lewis. The City reacted with surprise this morning to the news of Lewis’ departure, and the appointment of the relatively unknown new boss. Read more: Analysts react to Dave Lewis shock departure Murphy, a qualified accountant, began his career [...]
