Cameron’s kowtow: Submission is not the route to success in China October 22, 2015 It was 2012 when I was first asked to make a bribe in China, just shy of a year after moving there. On the counsel of a business licence consultant, I was “advised” to offer remuneration to a mid-ranking member of the local Communist Party Neighbourhood Committee for swaying a potential decision in our favour. [...]
Businesses run from British homes undertake £32bn of global trade October 20, 2015 More Britons are setting up international businesses from home, new figures revealed yesterday. Post Office International Payments (POIP) estimates that £32bn of goods have been traded with overseas buyers and sellers from so-called spare room traders, who will utilise websites such as eBay. Approximately 70 per cent of all new businesses start off at home [...]
IBM ‘s share price is getting walloped October 20, 2015 IBM shares have plummeted to a five-year low after the company released disappointing results yesterday. The shares fell 5.35 per cent to $141.26 after markets reopened. IBM’s results showed that its up and coming cloud computing business was not yet making up the ground lost by its more traditional areas as it posted a 14th [...]
Asos share price rises as sales smash through £1bn barrier October 20, 2015 The figures Group revenue rose 18 per cent to £1.15bn in the year to 31 August 2015, from £975.5m in 2014. This was helped by retail sales, which increased 17 per cent, from £955.3m to £1.12bn during this period. Pre-tax profit rose one per cent to £47.5m despite Asos investing in proposition, warehousing and people capabilities. These costs were partially offset by insurance proceeds [...]
England Rugby World Cup 2015 review panel to include Sir Ian McGeechan and Ben Kay October 19, 2015 England rugby chiefs have confirmed the five-man panel tasked with reviewing the team’s miserable World Cup and effectively deciding the fate of head coach Stuart Lancaster. Rugby Football Union (RFU) chief executive Ian Ritchie is joined by former British and Irish Lions coach Sir Ian McGeechan, ex-England player Ben Kay, Ian Watmore, the one-time chief [...]
Deutsche Bank’s investment arm is split in two as new boss John Cryan tries to reinvigorate the firm October 18, 2015 Germany's biggest lender Deutsche Bank is overhauling its management and investment bank structure as new boss John Cryan tries to reinvigorate the company’s performance following a number of fines and shareholder dissatisfaction. Long-term management board member Stefan Krause is leaving his post along with Colin Fan, co-head of the firm's investment banking and trading unit. Asset [...]
Burberry share price down as retailer needs “accelerated actions” to keep profits steady against Chinese slowdown October 15, 2015 Burberry shares fell 11 per cent in morning trading as the company warned of deeper and quicker costs to keep profits on track, against falling demand in China and Hong Kong. The figures Overall, Burberry’s retail sales ticked up by two per cent, despite what the company is calling an “increasingly difficult” environment for luxury, to [...]
Labour pile pressure on Conservatives to halt donations from Lycamobile October 8, 2015 Labour has formally written to the Conservatives to raise concerns over donations made to the Tories by Lycamobile after it was alleged the company had been involved in suspicious financial activities. Jonathan Ashworth, a Labour MP for Leicester South, wrote to Lord Feldman, the Conservative chairman, to request clarification on whether "checks have been carried in relation to [...]
Rocketing oil and gas production masks weak underlying trend in industrial production October 7, 2015 A surge in oil and gas output lifted industrial production to a four-year high in August, figures from the Office for National Statistics showed this morning – but economists have warned the underlying trends are still weak. Total industrial production, which is mostly manufacturing but also includes mining, quarrying and utilities, climbed 1.9 per cent on [...]
German industrial production suffers steep decline in August October 7, 2015 Industrial production in Germany, the Eurozone’s biggest economy, dropped at its fastest pace for a year in August, according to figures released this morning. Total production, which includes construction, manufacturing and mining, dipped 1.2 per cent in August compared with July, German statistical office Destatis said. The production of capital goods fell 2.1 per cent [...]