Government borrowing now 50pc higher than same month a year ago July 22, 2014 Public sector net borrowing is well up, according to the latest official estimates. Public sector net borrowing excluding interventions (PSNB ex) rose to £11.4bn in June, 50 per cent higher than PSNB ex in the same month last year, according to the Office for National Statistics (ONS). In a preview of today's release, HSBC analysts [...]
Royal Mail share price falls on parcel revenue warning July 22, 2014 Freshly privatised Royal Mail has been suffering from more parcel delivery induced headaches, today warning that parcel revenues are likely to be below expectations. Chief executive Moya Greene says that the company has seen a "weaker than expected performance in UK parcels" in the first three months of the delivery firm's financial year. Parcels revenue [...]
Vodafone in Portugal deal to reach 900,000 homes with fibre networks July 21, 2014 Telecoms giant Vodafone has agreed a 25-year deal between its Portuguese subsidiary and Portugal Telecom to deploy and share fibre networks to 900,000 Portuguese homes. The agreement comes into effect in December, giving each company the potential to reach an additional 450,000 customers. The deal fits neatly into Vodafone Portugal’s aim to reach 1.5m homes [...]
Dave Lewis: Tesco share prices jumps as investors bet on new CEO’s strong Unilever record July 21, 2014 Investors have been reassured by the appointment of Dave Lewis as Tesco's new top dog. Despite a profit warning, Tesco's shares sprang up by as much as three per cent as markets opened. Part of that can be explained by the coming departure of CEO Philip Clarke. While he will continue to serve in his [...]
Vodafone strikes fibre share deal with Portugal Telecom to reach 900,000 homes July 21, 2014 Telecoms giant Vodafone has announced a 25-year deal between its Portuguese subsidiary and Portugal Telecom to deploy and share fibre networks to 900,000 Portuguese homes. The agreement comes into effect this December, giving each company the potential to reach an additional 450,000 business and residential customers. The deal fits neatly into Vodafone Portugal's target to [...]
Sky snaps up 70pc slice of Great British Bake Off maker Love Productions July 21, 2014 Broadcasting company Sky has splashed out, acquiring a 70 per cent stake in independent production company Love Productions. Founded in late 2004 by Richard McKerrow and Anna Beattie, Love is most famous for its TV hits The Great British Bake Off and The Great British Sewing Bee. Last year The Great British Bake Off became [...]
Air traffic rerouted away from Ukraine after MH17 crash July 17, 2014 Several airlines have now confirmed that they are avoiding Ukrainian airspace after a Malaysian Airlines jet crashed in eastern Ukraine. Flight MH17 came down near the Russian border, in the Donetsk region of Ukraine, earlier today. The UK's Department for Transport (DfT) has told aircraft already in the air to avoid Ukrainian airspace. A spokesperson [...]
MH17 plane crash: Investors sell off airline stocks, pile into gold July 17, 2014 Traders have reacted to news that a Malaysian Airlines plane has crashed in eastern Ukraine by selling off stocks, especially of airlines. Geopolitical fears over tensions between Ukraine and Russia have been resurrected, seeing investors move out of equities into traditional safe-haven assets, like gold. The precious metal is often seen as a hedge against [...]
MH17 plane crash: Flight map shows last tracked location of Malaysian Airlines jet July 17, 2014 MH17, the plane which went down over eastern Ukraine near the Russian border, can be seen on the map below in its last transmitted location. Flightradar24, the flight tracking service, tweeted the image below, showing the Boeing 777 close to the city of Poltava in Ukraine flying at 33,000ft, or 10,000 metres. The flight was [...]
Malaysian Airlines passenger plane crashes over eastern Ukraine July 17, 2014 A plane belonging to Malaysian Airlines has gone down over eastern Ukraine, near the Russian border. Malaysia Airlines has tweeted that it lost contact with flight MH17 from Amsterdam, and that the last known position of the plane was in Ukrainian airspace. The plane was travelling towards Kuala Lumpur. The Boeing 777 was carrying some [...]