Litigation funder Bentham Europe plans a global shareholder claim against Volkswagen October 1, 2015 Bentham Europe has announced it is coordinating a united shareholder action for some of the largest VW investors around the world. Volkswagen's share price has collapsed from around €160 to under €100, while its market capitalisation has dropped by around €25bn (£18bn) since it emerged two weeks ago it had used software to deceive emissions [...]
Forbes US 400 rich list 2015: These are America’s 10 youngest billionaires September 30, 2015 Forbes' annual US 400 rich list came out yesterday, with a recorded combined wealth of $2.34 trillion (£1.5 trillion), and the highest average net worth to date of $1.7bn – the bar to be included. One thing it shows is America's billionaires are getting young: this year there were 17 under-40s on the list, unsurprisingly [...]
Wikipedia founder Jimmy Wales’ mobile network The People’s Operator sees revenues rise but US expansion eats into profit September 29, 2015 Wikipedia founder Jimmy Wales' latest venture, mobile phone provider The People's Operator (TPO), announced its maiden results yesterday and revenues of £603,000. The figures Revenue grew 358 per cent in the six moths to 30 June, from £132,000 in the first half of 2014. The company's losses actually increased from £600,000 last year to £4.4m in [...]
Volkswagen’s former boss Martin Winterkorn to be investigated by German prosecuter over emissions fraud September 28, 2015 German prosecutors have opened a criminal investigation into Martin Winterkorn, the former chief executive of Volkswagen, who was forced to step down last week. Winterkorn is being investigated for fraud after his company admitted last week that it had installed software to cheat US Environmental Protection Agency emissions tests. Prosecutors in Braunschweig said the investigation [...]
Volkswagen emissions scandal: 2.1 million Audis fitted with VW emission cheat software September 28, 2015 Audi share price has dropped 2.5 per cent after the Volkswagen-owned car manufacturer confirmed 2.1 million of its cars were fitted with the same emissions cheating software as VW models. The company is also said to have suspended the research and development heads of three divisions – VW core, Audi and Porsche- Reuters reports, although [...]
ECB confirms it has halted buying Volkswagen bonds as fallout from emissions scandal spreads September 28, 2015 Shares in beleaguered car-manufacturer Volkswagen fell 6.3 per cent this morning after the ECB confirmed it has excluded VW-backed assets from its bond-buying programme, pending a review. Central Bank sources told City A.M.: “In line with best practices for asset-backed securities investors, a decision was made to assess the repercussions of the recent developments affecting [...]
Strong dollar and hot weather hit H&M’s summer sales and see share price fall September 24, 2015 Swedish retail giant H&M's share price fell this morning, despite promising third quarter results. The figures Sales at H&M Group – which includes facias Cos, & Other Stories and Monki as well as the mainline brand, were up 11 per cent to SEK 132bn Swedish Krona (£10bn) in the nine months to the end of [...]
Mining giant BHP Billiton share price jumps after dividend changes proposed to ensure payout to British investors September 24, 2015 Anglo-Australian mining giant BHP Billiton's share price climbed this morning, after revealing changes to its dividend funding policy to ensure British shareholders' dividends are paid out. The company is planning to change which funds are transferred between the Australian-listed company to the UK's plc arm, allowing it to meet its dividend requirements to its British [...]
Thomas Cook’s share price lifts after solid update – but warns Tunisia is “effectively closed” September 24, 2015 Thomas Cook’s share price jumped in morning trading after the holiday firm revealed a a solid trading update despite Tunisia being “effectively closed”. The figures The package holiday operator said 91 per cent of its summer holidays had been sold – in line with last year’s sales – as a damp summer at home helped drive Britons [...]
Facebook and Google could suffer as ECJ says US data transfer agreement does not protect European users September 23, 2015 The European Court of Justice today said that the 'Safe Harbour' regime that allows US companies to transfer European users' personal data does not adequately protect the information. The Safe Harbour agreement, in place since 2000, allows US firms like Google and Facebook to collect data on their European users and store it in the [...]
