Norwegian Air shares tumble as leaders agree to sale of subscription rights February 18, 2019 Shares in Norwegian Air crashed this morning after the struggling airline’s boss and board chairman agreed to sell some of their subscription rights to a share issue at less than face value in order to raise emergency funds. Read more: Growth will slow at Norwegian Air as profits in focus Chief executive Bjorn Kjos and chairman [...]
McColl’s profits plummet after supply chain disruption but investors welcome recovery signs February 18, 2019 Profits halved at McColl’s in 2018 as like-for-like sales also slipped, it said today, blaming supply chain disruption as a key partner went under, even as overall revenue grew. But shares grew 13 per cent to 57.2p as investors welcomed the retailer cutting debt as like-for-like sales improved. The figures Profit before tax plunged to [...]
Pearson sells US school textbook arm for $250m February 18, 2019 Pearson announced the $250m (£194m) sale of its US school textbook division today as it pursues a simplification strategy as it doubles down on digital. Read more: Pearson's shares fall amid declining US revenues The education publisher expects to net $25m today and the full sum over the next three to seven years from the [...]
Mobile network industry calls for security scrutiny amid Huawei spying claims February 15, 2019 Europe needs a security testing programme to oversee the rollout of 5G in order to combat distrust of providers, according to the mobile network industry. Industry body the GSMA, which represents 800 operators, has called on governments and the private sector to collaborate on setting up such a scheme. Read more: Huawei boss: US has [...]
Spain calls snap election after Prime Minister Pedro Sanchez ‘s budget proposals rejected February 15, 2019 Spain called a snap election for 28 April today after its national budget was rejected. The socialist government’s budget proposal was defeated on Wednesday when politicians in favour of Catalan seceding joined right-wing parties in voting it down. Read more: Germany narrowly avoids recession as GDP stagnates in the fourth quarter It means Spain will [...]
RBS raises dividend on booming profits, but warns on cost of Brexit February 15, 2019 Royal Bank of Scotland (RBS) boosted its dividend today on the back of doubling profits, but warned that Brexit could hit the bank’s recovery. The bank said it would return £1.6bn to shareholders, including almost £1bn to the government, which holds a 62 per cent stake in RBS following its financial crisis bailout. Chairman Howard [...]
Premier Foods abandons Ambrosia sale, blaming business climate February 15, 2019 Premier Foods has abandoned plans to sell off its Ambrosia brand, it told investors today, blaming the current business climate. Talks began with potential buyers in November, and since the new year Premier Foods had narrowed interest down to a “small group” of possible bidders, but nobody has made an acceptable offer. Read more: Premier [...]
Commuters face severe delays on District Line as rush hour misery strikes February 15, 2019 Commuters are facing rush hour misery this morning with severe delays affecting the District Line. Read more: Rush hour blues: Commuters contend with severe delays to three Tube lines Severe delays have hit trains between Ealing Broadway and Richmond to Earl’s Court after a signal failure at Turnham Green. Minor delays are running between Earl’s [...]
Sterling slumps ahead of May’s crunch no-deal Brexit vote as Bercow chooses amendments February 14, 2019 Sterling has taken a tumble as fears grow that Theresa May will be defeated in parliament this evening by the hard Brexiters among her party. The pound fell from 1.287 this morning to as low as 1.278 against the dollar this afternoon as investors grew scared that the Prime Minister may not win a vote [...]
So Moneysupermarket: Price comparison site grows profits as chairman steps down February 14, 2019 Moneysupermarket’s chairman is set to step down after five years in the hotseat, as the price comparison website grew both profit and revenue in a bumper 2018. Bruce Carnegie-Brown will also step down from his non-executive director position at the company’s annual general meeting in May after serving as chairman since 2014. Read more: Ofgem [...]