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Madeline is a reporter at City A.M. She can be contacted at email@example.com.
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' 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' 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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 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 [...]
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 [...]
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