Uber cuts fares by 20 per cent in New York in price war with taxis July 7, 2014 Uber is cutting its prices by 20 per cent in New York in a bid to make the mobile app service for private hire cars more competitive than the city’s famous yellow taxis. The move follows similar price cuts for its UberX service in San Francisco, where the firm is based. Uber has seen strong growth [...]
Robert Walters buoyed by rise in UK hiring July 7, 2014 WHITE-COLLAR recruiter Robert Walters yesterday announced a five per cent rise in second-quarter gross profit, as an improved business environment encouraged firms to bring more permanent employees on board. The company, which places workers in engineering, legal, marketing and banking jobs, said it expected full-year profit before tax to be at the upper end of [...]
Agri-giant ADM likes the taste of Wild Flavors July 7, 2014 Archer Daniels Midland Company (ADM), the US-based agribusiness giant, has agreed to buy Wild Flavors, a supplier of natural ingredients to the food and beverage industry, in a deal worth €2.3bn (£1.83bn). ADM will buy Wild Flavours from Hans Peter Wild, who has a 65 per cent stake in the company, and private equity firm [...]
Burberry may face an investor revolt over pay July 7, 2014 CHRISTOPHER Bailey, Burberry chief executive, and the iconic fashion company were yesterday bidding to stave off a shareholder revolt over a pay deal that includes a shares package worth in the region of £20m. The London-based global fashion chain, founded in 1856, will hold its annual general meeting this Friday and some institutional investors are [...]
Ten times faster wi-fi in £90m upgrade for commuter trains July 7, 2014 COMMUTERS can look forward to wi-fi speeds 10 times faster than they currently receive on trains as part of Department for Transport £90m plans, paid partly from a fine on Network Rail. Some of the first routes likely to benefit from the faster wi-fi service will include passengers travelling into London from Bedford, Brighton, Kent [...]
American Apparel in talks with Lion Capital as $10m loan due July 7, 2014 The battle over the future of American Apparel reached a critical point at the weekend as talks were held over the $10m (£5.8m) loan the troubled fashion retailer owed to the British private equity firm Lion Capital, that was due last Friday. If a deal is not done then American Apparel would find itself in [...]
HSBC may end Libya presence after 55 years July 6, 2014 HSBC is believed to be planning to close its representative office in Tripoli, bringing to an end a presence in Libya going back 55 years to 1959. The plan is part of ongoing efforts by chief executive Stuart Gulliver to reduce costs by drawing back from markets where the banking giant does not have a [...]
Argos offers eBay pickup with click and collect partnership July 3, 2014 Buyers of eBay items will be able to collect more of their goods at Argos stores, after the two companies announced yesterday that they would be significantly expanding their click and collect partnership as the service is rolled out across the UK. The deal will see the click and collect service extended to around 650 [...]
Charney shifts Apparel shares July 3, 2014 AMERICAN Apparel’s ousted executive Dov Charney yesterday handed over his stake and voting rights in the retailer to Standard General, enabling it to negotiate directly with the independent directors over the company’s future. Standard General had loaned its American Apparel shares to Charney, boosting his stake in the firm from about 27 per cent to [...]
TfL court ruling delayed as Uber drivers are sued July 3, 2014 The battle over Uber’s controversial car hire app escalated yesterday as Transport for London (TfL) said its attempt to get a High Court ruling on the dispute would be seriously delayed following news that the Licensed Taxi Drivers Association (LTDA) was taking its own legal action against Uber drivers. The dispute focuses on whether Uber’s [...]
