Hermes posts huge profit spike as China demand pushes it to new heights September 12, 2018 Hermes delivered a record operating margin for the first half of 2018 today, as well as posting a 17 per cent jump in profit to reach €708m (£631m). The French luxury handbag maker saw group revenue rise by five per cent year on year to €2.9bn for the six months ending 30 June, with its [...]
Energy giant SSE issues profit warning, sending shares plunging September 12, 2018 SSE delivered a profit warning today, sending shares plunging as it blamed a combination of warm weather and higher than expected gas prices. Operating profit for the first five months of the year will be £190m lower than predicted, the energy supplier said in a trading update. Shares dropped eight per cent in early morning [...]
Elon Musk’s ‘erratic behaviour’ causes Nomura to downgrade Tesla stock September 11, 2018 Tesla’s share price was set rocking by an investment bank downgrade today, with chief executive Elon Musk’s “erratic behaviour” cited as a reason for the price adjustment. Tesla’s shares fell by almost four per cent to $274.14 after Nomura cut its target price in the wake of Musk making yet more headlines with behaviour such as [...]
Renewed your TV licence? Your banking data may not be secure September 11, 2018 If you’ve renewed your TV licence recently it may have cost you more than you budgeted for. TV Licensing has written to 40,000 people to warn them to check for suspicious transactions or amended direct debits after their banking details weren’t protected online properly. People who entered their bank account and sort code details – [...]
British Airways data breach: How hackers stole customers’ data September 11, 2018 British Airways’ breach last week was caused by the same group of hackers that targeted Ticketmaster, according to cyber security researchers. The cyber attack resulted in 380,000 customers’ personal and financial details ending up in the hands of criminals, with the airline warning those affected to contact their banks and promising full compensation. Read [...]
ING CFO steps down in wake of money laundering scandal September 11, 2018 ING’s chief financial officer is leaving the company over a money laundering scandal that cost the bank €775m (£698.15m). Koos Timmermans will step down from the Dutch bank in light of the bank’s failure to prevent widespread money laundering through its Netherlands division, for which Timmermans was ultimately responsible for a number of years. Read [...]
Alive and kicking: JD Sports thrives in struggling high street environment September 11, 2018 JD Sports sprinted ahead of its high street rivals as it boosted both profit and revenue margins in its interim results today. The figures The shoe and sportswear retailer posted a 35 per cent year-on-year hike in revenue to £1.85bn for the six months to the end of August while profits before tax stepped up [...]
Sticky business: Cadbury owner stockpiles chocs for hard Brexit September 11, 2018 Cadbury’s owner is stockpiling chocolate, biscuits and raw ingredients in the event of a hard Brexit, it has emerged. Mondelez Europe warned that the UK cannot provide all its own ingredients to produce Cadbury chocolate, and so the firm is making other arrangements in case the UK spins out of the EU without a deal. [...]
EDF: Energy giant faces shake-up under France’s new environment minister September 10, 2018 EDF must first demonstrate that its next-generation nuclear reactor works as advertised before France considers allowing more plants to be built in that mould, the country’s new environment minister has said. Francois de Rugy won’t sign off on building more plants to EDF’s European Pressurised Reactor (EPR) design until their long-term viability is clear, he [...]
Commute, coffee, after-work drinks: Londoners spend the most money on work-related expenses September 10, 2018 How much did you spend on your lunch today? What about after-work drinks? And getting home? If you’re making daily trips to a trendy new sandwich bar every lunchtime, it might be time to rethink your spending: according to new data, Londoners have the priciest work-related outgoings in the UK. While the average Brit spends [...]
