UK economic growth is strong as the ONS reveals 89,000 new businesses were created this year October 6, 2015 Britain's economy is growing as new figures showing 89,000 new businesses opened between March 2015 and 2015 – a 3.8 per cent increase. The ONS reported that the number of businesses in the UK, which it defines as having VAT or PAYE systems, has been picking up since the recession as GDP increases. This year there [...]
SABMiller share price drops after rejecting informal megabrew offer from AB InBev worth £64bn October 6, 2015 SABMiller's share price dropped today following a report that the London-listed brewer had turned down an informal offer from AB InBev. The Belgian brewer Anheuser-Busch InBev had made an initial offer of about £66.4bn ($100bn), but it was rejected as too low, Bloomberg reported this morning. Both SABMiller and AB InBev declined to comment today. The informal [...]
Schroders’ long-time Pan-European Small Companies fund manager Rosemary Banyard steps down October 6, 2015 Schroders' veteran fund manager Rosemary Banyard is leaving after 17 years to pursue new opportunities. Banyard, who alongside Andy Brough heads up the pan-European small companies team, will step down from the company in March. She will oversee the transition, which includes Jean Roche joining the small and mid-cap team as a manager. Roche is currently at Hargreave Hale, [...]
As Volkswagen scraps all non-urgent investments, chief executive Matthias Muller admits: “This will not be painless” October 6, 2015 Beleaguered car manufacturer Volkswagen is to cancel or delay all its non-urgent investments, City A.M. understands. The company is trying to cut costs after the emissions scandal, during which billions have been wiped off its value. New chief executive Matthias Mueller, who replaced Martin Winterkorn at the end of September, told some 20,000 workers at the company's [...]
Volkswagen tells German parliament eight million cars have been fitted with emissions cheat device in European Union alone October 6, 2015 Volkswagen has admitted that eight million cars in the European Union alone have been fitted with software to cheat emissions tests. The carmaker sent a letter to German parliament members on 2 October, co-signed by VW's current chief lobbyist, and former government spokesperson, Thomas Steg, Reuters and local press are reporting. VW said in the letter that vehicles with [...]
Long awaited free-trade treaty, the Trans-Pacific Partnership has been agreed by the US, Japan and 10 other nations October 5, 2015 The US, Japan and 10 other Pacific countries have agreed a free trade deal that covers around 40 per cent of the world's economy. The Trans-Pacific Partnership (TPP) will reduce trade barriers between member countries and introduce common standards for goods, influencing everything from the price of cheese to pick-up trucks and cancer treatments. Negotiations [...]
How many people will start using their own bags to avoid the new 5p plastic bag tax? October 5, 2015 From today shoppers will be charged 5p for every plastic bag they use, but almost a fifth of people surveyed said they did not know they would be charged. According to a survey by market consultancy Future Thinking, 25 per cent of people under 35 were unaware the tax was coming into effect and more [...]
Glencore chief executive Ivan Glasenberg tells rivals to close failing mines to help rally copper price October 5, 2015 The chief executive of ailing mining company Glencore said today rival companies should also be closing their loss-making mines to stop flooding the copper market. Ivan Glasenberg said: “If you're not making money I believe you should take production out and reduce supply. Don't create oversupply in the market for no reason.” Speaking at a [...]
Axel Springer in deal with Business Insider: Why it’s a better choice than the Financial Times October 5, 2015 Axel Springer, the German publisher which was so close to buying the Financial Times before Nikkei stepped in this July that the FT itself reported Axel Springer had closed the deal, today announced it was instead increasing its stake in online news site Business Insider to 97 per cent in a $343m (£226.4m) deal. But some [...]
Thousands of Lloyds Premier Bank customers using Royal Sun Alliance emergency cover have had their data “stolen” in security breach October 2, 2015 The personal details of thousands of Lloyds Bank Premier account holders have been lost – potentially stolen – in the latest data breach to hit the City. The data breach affects customers who had Royal Sun Alliance emergency home cover attached to their Lloyds Premier bank account between 2006 and 2012. The policy comes as [...]
