Cobham shares plummet after missing targets and culling dividend January 11, 2017 Cobham shares tanked nearly 20 per cent this morning after culling its dividend in the wake of annual results that will miss targets. In a trading update, the engineering giant said it expected profit of £245m, below the previous guidance of £255m-£275m. [stockChart code="COB" date="2017-01-11 08:46"] "The detailed year end close and audit is ongoing but is not [...]
Sky defends increases in TV prices saying coverage has been “completely transformed” since 2010 January 10, 2017 The cost of satellite television has rocketed by an average of 50 per cent since 2010, four times the rate of inflation and twice as fast as rail fares have increased over the same period. Free-to-air satellite firm Freesat has urged rail users, angry at January fare hikes, to check the cost of their Sky [...]
Information Commissioner’s Office delivers damning verdict after RSA personal data loss January 10, 2017 Regulators have fined insurance giant RSA for losing the personal information of almost 60,000 customers. The owners of the More Than brand were handed a £150,000 penalty by the Information Commissioner's Office (ICO) after the theft of a hard drive device containing thousands of customers' personal data and the credit card details of 20,000 people. The ICO [...]
UK’s pension lifeboat gets lower in the water as deficits soar in December January 10, 2017 Pension shortfalls grew at a rate of nearly £1bn a day during December, figures released by the UK's pension lifeboat have revealed. The Pension Protection Fund (PPF), into which defined benefit pension schemes fall upon corporate insolvency, calculated an aggregate deficit for the 5,794 schemes covered of £224bn at the end of December. The shortfall grew [...]
Bunzl snaps up UK packaging firm and US barrier film specialist January 10, 2017 Support services giant Bunzl has started 2017 where it left off in the previous year by revealing a brace of new acquisitions. The purchase of packaging firm Woodway was agreed at the end of December. The Northampton-based firm provides products and solutions to across a variety of business sectors. Read more: Bunzl can't wait until [...]
Robert Walters says it’s back to business as usual in 2017 after post-Brexit slowdown January 10, 2017 UK businesses are "bored" of Brexit and ready to get back to business as usual in 2017, according to the boss of one of the country's largest recruitment firms. Robert Walters, the chief executive of the eponymous recruitment giant, said while Brexit stymied hiring in the second half of 2016, British firms are now eager to grow [...]
Gocompare shares leap after revealing first trading update as listed firm January 10, 2017 Gocompare shares leapt over eight per cent after capping a "transformational year" by revealing full year profits will be at the top end of guidance. The comparison website, which was spun-off from Esure in November last year, said its revenue had jumped by 19 per cent to £142m and adjusted operating profit was up by 30 per cent [...]
Royal Mail pensions closure: Unions warn on strikes if they disagree with plans January 5, 2017 Royal Mail today revealed plans to scrap its mammoth pension scheme that serves 90,000 postal workers. The former state-owned firm said the current final salary surplus would run out in 2018 and unless changes were implemented, the bill for servicing the scheme could run to over £1bn a year – a level it said “would [...]
ITV chief exec Adam Crozier appointed as non-exec of Costa and Premier Inn owner January 5, 2017 The owner of Costa coffee has swooped during the January transfer window to sign the former head of the Football Association as a non-executive director. Current ITV chief exec Adam Crozier will join the board of Whitbread from 1 April and will be part of the remuneration committee of the group that also owns Premier Inn hotels. [...]
