Tech giant Apple has delivered exceptional fourth quarter results, with record-breaking sales of £94.9 billion, outperforming Wall Street’s projected figures. The impressive performance was primarily driven by robust iPhone demand, though profits took a significant hit from an EU tax ruling. The world’s most valuable publicly traded company, currently valued at £3.5 trillion, saw iPhone […]

Britain’s welfare system faces an unprecedented challenge as projections indicate health-related claims will constitute 50% of all primary benefit applications by 2029, with annual costs surpassing £100 billion for the first time in history. The Office for Budget Responsibility (OBR) reports that the post-Covid surge in health-related claims is becoming a permanent fixture, reflecting a […]

Europe’s largest automaker, Volkswagen, finds itself embroiled in an unprecedented crisis as it grapples with mounting pressure from workers, politicians, and market forces. The company’s struggle to navigate the electric vehicle transition whilst maintaining its traditional workforce structure has created significant tension within the organisation. The German automotive behemoth, deeply rooted in the country’s post-war […]

OpenAI has unveiled its integrated web search functionality for ChatGPT, marking a significant advancement in the artificial intelligence search landscape. The San Francisco-based organisation is implementing this feature gradually, with select paid users gaining initial access from Thursday. The enhancement enables ChatGPT to deliver comprehensive responses by combining its existing capabilities with real-time online data, […]

In a significant blow to British aerospace innovation, Reaction Engines has entered administration following unsuccessful attempts to secure vital funding, marking the end of its ambitious vision to revolutionise air travel through hypersonic flight technology. PwC, appointed as administrator on Thursday, confirmed that 173 of the company’s 208 employees have been made redundant, with the […]

Amazon’s quarterly revenues have witnessed a remarkable surge, driven by what CEO Andy Jassy describes as a “once in a lifetime opportunity” in generative artificial intelligence, coupled with robust advertising demand. The tech giant’s shares responded positively in after-hours trading on Thursday. The scramble for generative AI development has created an unprecedented demand for cloud […]

US stocks surrendered their October gains as a significant tech sell-off triggered Wall Street’s most substantial daily decline in nearly two months. The S&P 500 fell 1.9 per cent whilst the tech-heavy Nasdaq Composite plummeted 2.8 per cent during the month’s final trading session. Leading the downward spiral, Microsoft shares dropped 6.1 per cent, marking […]

Intel has unveiled an extensive restructuring programme, announcing $18.7bn in charges as the technology giant aims to revitalise its competitive position in the global chipmaking industry. The company’s shares surged 10 per cent in after-hours trading, buoyed by better-than-anticipated quarterly results. The Silicon Valley stalwart’s revenue forecast of $13.3bn to $14.3bn for the current quarter, […]

Apple’s shares experienced a 1.9 per cent decline in after-hours trading following a cautious outlook for the holiday quarter, despite reporting solid financial results. The tech giant’s forecast of low to mid-single-digit revenue growth fell marginally short of Wall Street’s expectations, as market analysts grappled with uncertainties surrounding the company’s new AI features and their […]

The chief executive of Barclays, CS Venkatakrishnan, has mounted a strong defence of Rachel Reeves’ tax-raising Budget, claiming the UK chancellor delivered an “admirable job” of harmonising spending, borrowing and taxation, despite widespread criticism from business leaders regarding escalating operational costs. Whilst company executives, particularly in retail and hospitality sectors, warned that increased national insurance […]

British government bonds faced intense selling pressure on Thursday, driving borrowing costs to their peak levels for 2024, as investors grappled with the implications of Rachel Reeves’ expansionary Budget plans. The 10-year gilt yield climbed by 0.09 percentage points to reach 4.44 per cent, briefly surpassing 4.50 per cent during trading. The pound sterling witnessed […]

British pharmaceutical giant GSK has held firm on its annual group forecasts despite experiencing a decline in vaccine sales, with strong performance in specialist medicines helping to offset the downturn. The FTSE 100 company reported a 2% rise in total sales to £8 billion at constant currencies for the third quarter ending September. The company’s […]

The automotive industry is witnessing a significant shift in consumer behaviour as JLR, the West Midlands-based Indian-owned manufacturer, reports a remarkable 29 per cent increase in plug-in hybrid vehicle sales during the first half of its financial year. Market data reveals that buyers are increasingly gravitating towards hybrid models, particularly as uncertainty looms over the […]

British luxury automaker Aston Martin Lagonda continues to face significant operational challenges, with the company reporting persistent losses and declining performance across key metrics. The iconic manufacturer is currently consuming cash at an alarming rate of over £1 million per day, while its net debt position has deteriorated substantially. The company’s third-quarter results paint a […]

Microsoft’s substantial investment in artificial intelligence technology has yielded impressive returns, with quarterly sales climbing 16 per cent to £65.6 billion, surpassing Wall Street’s expectations. The tech giant’s Azure cloud computing division, a crucial growth driver, reported a 33 per cent revenue increase in the first fiscal quarter, exceeding analysts’ projections of 32 per cent. […]

In a landmark fiscal announcement, Labour’s Chancellor Rachel Reeves has unveiled a transformative budget featuring £40 billion in tax increases, marking a significant departure from previous Conservative policies. The comprehensive package includes substantial reforms to national insurance, capital gains tax, and the controversial non-dom regime. The Office for Budget Responsibility forecasts modest economic growth of […]

A revolutionary combination of three drugs has demonstrated remarkable success in doubling survival times for patients battling incurable breast cancer, according to a landmark clinical trial. The research, spearheaded by the Institute of Cancer Research (ICR) and the Royal Marsden NHS Foundation Trust, signals a potential transformation in treatment protocols for the 61,000 UK women […]

In a decisive move to counter declining customer traffic, Starbucks’ newly appointed CEO Brian Niccol has revealed a comprehensive strategy focusing on traditional coffee house values and simplified operations. The world’s largest coffee chain, which experienced a concerning 6% drop in US same-store sales last quarter, is implementing significant changes to reconnect with its customer […]

A significant supply chain crisis has struck Skydio, the largest drone manufacturer in the United States and a crucial supplier to Ukraine’s military forces, following Beijing’s implementation of extensive sanctions. The California-based company is now desperately seeking alternative component suppliers after Chinese authorities blocked access to critical parts, including batteries from its sole provider. The […]

Meta’s substantial investments in artificial intelligence are demonstrating “strong momentum” according to Mark Zuckerberg, as the tech giant’s quarterly revenue and earnings exceeded Wall Street’s predictions. The company’s chief executive signalled that AI-related expenditure is set to climb significantly into 2025. Share prices responded cautiously to Wednesday’s earnings announcement, dipping 3% in after-hours trading, despite […]

Microsoft’s shares declined 3.8% in after-hours trading despite reporting substantial quarterly gains, as warnings about slowing growth and escalating artificial intelligence costs dampened investor enthusiasm. The technology giant’s fiscal first-quarter revenue climbed 16% year-on-year to £65.6 billion, surpassing analysts’ projections of £64.5 billion. Net income rose 11% to £24.7 billion in the September-ending quarter, exceeding […]

British alternative milk manufacturer Rude Health has been acquired by Finnish food company Oddlygood, a spin-off from dairy powerhouse Valio, in a strategic move that positions both firms for significant market expansion. The deal, which concluded just ahead of anticipated capital gains tax increases in the upcoming budget, will result in a seven-figure windfall for […]

Elon Musk’s artificial intelligence venture, xAI, has initiated discussions with potential investors for a substantial funding round that could value the company at approximately £40 billion. The talks, whilst in their preliminary stages, signal an ambitious move to secure several billion pounds in fresh capital. The funding initiative follows xAI’s successful series B round in […]

Bitcoin has climbed to remarkable heights, reaching £72,784.40 in New York trading on Tuesday, marking a six-month peak as investors increasingly align their positions with potential US election outcomes. The cryptocurrency’s movement reflects growing market sentiment favouring Donald Trump’s return to the presidency. The former president’s dramatic shift from once labelling bitcoin a “scam” to […]

Major car finance companies have suspended lending operations following a groundbreaking Appeal Court ruling, throwing Britain’s automotive sector into disarray. The judgement, which found lenders liable for undisclosed commissions, has triggered an unprecedented pause in credit services across the industry. Leading providers including Close Brothers, MotoNovo, and Honda Finance Europe have temporarily ceased new lending […]

Alphabet, Google’s parent company, has surpassed Wall Street’s profit and revenue projections as artificial intelligence technology continues to fuel substantial growth across its core businesses. The tech giant reported a remarkable 33.6 per cent increase in third-quarter net profit, reaching £26.3 billion, significantly exceeding analyst estimates of £22.9 billion. The company’s revenue demonstrated robust growth, […]

The Labour government is poised to implement significant fiscal changes as Rachel Reeves, the first female Chancellor of the Exchequer, prepares to deliver her maiden budget speech. The financial package, estimated at £35 billion in tax increases, marks a pivotal moment for the Labour administration’s economic strategy. Business leaders have expressed serious concerns about what […]

Leading financial institutions have engaged in urgent discussions with the UK Treasury amid growing concerns about potential upheaval in the consumer credit sector following a groundbreaking court ruling on car finance commissions. The pivotal meeting, held on Tuesday, brought together finance executives, government officials, and regulators to address the implications of last week’s Court of […]

The United Kingdom’s escalating tax burden has pushed government revenues nearer to European Union levels than witnessed in decades, marking a significant transformation that Labour’s Rachel Reeves is poised to amplify with substantial tax increases in Wednesday’s Budget. International Monetary Fund data reveals the gap between UK government revenue-to-GDP ratio and the EU average will […]

British long-term borrowing costs reached a post-election peak on Tuesday as financial markets prepared for Rachel Reeves’ landmark first Budget. The chancellor is poised to unveil an ambitious plan to raise tens of billions of pounds for investment-led growth initiatives. The yield on 10-year gilts climbed to 4.32 per cent, marking its highest level since […]

Alphabet Inc, the parent company of Google, has announced a striking 34 per cent rise in profit for the third quarter. This growth is largely attributed to the expansion of their cloud services, which are in high demand for computing and data solutions necessary to train and operate generative artificial intelligence models. The solid quarterly […]

The UK government faces calls to streamline its visa process for experts in artificial intelligence, aiming to bolster the nation’s burgeoning tech sector. A report commissioned by the government and authored by venture capitalist Matt Clifford emphasises reducing the cost and complexity of obtaining visas for AI professionals. The “AI Opportunities Action Plan,” which is […]

UBS has disclosed a net profit of $1.4 billion for the third quarter, surpassing expectations thanks to its trading division’s better performance amid heightened market volatility and strategic cost-cutting measures. Revenue surged to $12.3 billion as the Swiss banking giant experienced notable inflows within its wealth management sector. Chief Executive Sergio Ermotti remarked on the […]

Volkswagen AG, Europe’s largest automaker, has found itself in a precarious position following a 64 per cent decrease in quarterly net profit, primarily due to a significant downturn in sales within the Chinese market. The financial strain has prompted the company to announce a drastic restructuring, including the closure of three plants and the potential […]

Ondo InsureTech, a company specializing in water damage prevention systems for home insurers, is making significant strides in the U.S. market, according to CEO Craig Foster. In a recent interview with Zak's Traders Cafe, Foster detailed the company's strategic moves and the promising outlook that has driven a nearly 50% surge in Ondo's share price in recent days.

A significant fire erupted at BAE Systems’ shipyard in Barrow-in-Furness during the early hours of Wednesday morning, resulting in two individuals being hospitalised. The incident occurred at the defence company’s crucial nuclear submarine manufacturing facility in north-west England. Local authorities swiftly responded to the blaze, which was first reported at 12:44am. Cumbria police reassured residents […]

If Rachel Reeves’s budget, released this week, raises taxes on businesses and eliminates a Covid-era tax break for business rates and pubs and restaurants face closures or a difficult Christmas. Labour sources indicate that Reeves will reveal on Wednesday a budget to increase taxes to pay for better public services. The government intends to cut […]

The City regulator fined Wise’s founder £350,000 after he failed to notify them that he hadn’t paid his taxes. The Financial Conduct Authority (FCA), said that on Monday, Wise’s chief executive Kristo Kaarmann had failed to inform it about a fine imposed by HM Revenue and Customs, which resulted in his appearance on a “name […]

Lloyds Banking Group said that it is assessing the impact of , a landmark ruling by a court on Friday over mis-selling of car finance. This could lead to lenders compensating borrowers in billions of pounds. The bank did not provide any information on the amount it might be required to set aside for potential […]

A company with links to the United Arab Emirates Royals approached one of UK’s leading green electricity providers about a possible takeover. Good Energy in Wiltshire, which provides renewable energy to approximately 245,000 households, announced that it received an unsolicited offer for takeover from Dubai-based Esyasoft last Friday. Esyasoft is controlled by Abu Dhabi International […]

Fears that the Labour government would increase the capital gains rate on shares during the budget next week has led to a rush of retail investors into the government bonds market. The investment platform AJ Bell has reported a 71 percent increase in the amount of gilts bought in September compared to August. This represents […]

London’s housing market has seen its busiest period in four years. This is partly because London landlords are trying to get rid of their properties before the budget this week. Zoopla’s property search site, Zoopla, reports that almost a third (33%) of properties currently for sale in certain parts of London were previously rented. In […]

After a judge ruled that auto finance companies had hidden commission payments from their customers, borrowers could bring claims against banks totaling billions of pounds for mis-sold mortgages. Lloyds Bank announced on Monday that they were “assessing the possible impact” of the Court of Appeal’s ruling in favor of borrowers who claimed that commission payments […]

Trainline increased its guidance for the full year for the second time in just two months, after realizing more revenue than expected from ticket sales. The online ticket seller stated that it expects net sales to increase by 12 to 14 percent for the year ending February 2025. This is an improvement from its previous […]

The oil prices fell sharply Monday, after Iran did not announce an immediate response to Israel’s attacks on the country. Brent and US West Texas Intermediate crude futures have both fallen to their lowest levels since the September 11 attacks. Brent crude, which is the international benchmark for crude oil, fell $4.63 or 6.1 percent, […]

Chief executive of one of Canada’s largest commercial property developers said that he would invest “hundreds and millions” more in new data centres, if only he could ensure the supply of electricity needed by these sites. David Sleath is the chief executive officer of Segro. The FTSE 100 developer, landlord and property manager, said that […]

Boeing, the struggling American aircraft manufacturer, has asked investors to inject about $19 billion in order to boost its balance sheet, and to protect its investment grade credit rating from falling to junk status. After reporting a $6 Billion loss in the third quarter last week, the company announced their plans on Monday. The manufacturer […]

Volkswagen will close at least three German factories, eliminate tens thousands of jobs, and cut pay by 10%, said the top employee representative of the company on Monday. The restructuring will be the first time in the 87 years of the company that it has closed domestic plants. It is also likely to set off […]

Microsoft accused Google of “shadow campaigns” to undermine Microsoft’s position with politicians and regulators. This is the latest example of escalating rivalry between tech giants when it comes to cloud computing and data centers. Rima Alaily is Microsoft’s deputy general attorney. She claimed in a post that Google secretly backed a lobbying organization “designed to […]

Global investment banks are expecting UK debt sales to reach £300bn this year, the second highest on record. The government is preparing for a showdown against bond investors during this week’s Budget. Gilts could have their worst month in April, as recent selling is fueled by unease about a proposed loosening up of borrowing rules […]

Disney on Ice will be coming to Everett this week. Mickey Mouse, Donald Duck and other Disney characters will perform at the Angel of the Winds arena in Everett. The cast at the stadium on Wednesday was a far cry from the one that appeared last week. Boeing machinists wore vests, shorts, red baseball caps […]

The roof of an industrial building in the North West reveals a landscape of fields, smoke-belching chemical plants and a smoky sky. One horizon is the Welsh hills, another is the River Mersey with Cammell Laird Shipyard. The autumn sun is shining in Cheshire, and Indian billionaire Prashant Rouia’s mood is just as bright. He […]

Investors have sold their shares in Britain’s Aim Stock Market due to fears of an IHT raid. Aim shares, which are intended to encourage small business investment, are exempted from inheritance tax if the owner holds them for at least two years prior to their death. Rachel Reeves, the chancellor of the UK, is thought […]

A retailer is rare even in this exclusive district of London’s St James’s Street. Among the gentleman’s clubs, shops that sell top-end cigars and shotguns are a number of retailers who have specialized in selling these items. Sharps Pixley offers a wide range of gold products, from bars that are worth thousands of pounds down […]

Chancay, a coastal town in Peru, was once only known for its pre-Hispanic Inca cultures. Its size made it a popular tourist destination for residents of Lima, the capital city, located 50 miles south. They liked to visit the 19th century mock medieval castle. When President Xi’s cavalcade makes its arrival next month amid fanfare […]

The treatment of lung cancer has improved over the years, but doctors can still’t predict what patients will do following surgery. About half of the patients whose tumors were “advanced, but operable” will experience a recurrence of their disease within two years. After they’re discharged, we see them every six months in the clinic and […]

Sarah Stewart has been “overwhelmed by the response” of cheese lovers around the globe since she made public the story of a fraudster who stole £300,000.00 worth of the best cheddar in the world from Neal’s Yard Dairy. After the news spread about the four-month sophisticated scam, messages of support and offers of financial assistance […]

Travel industry warns that a post-Brexit plan to reduce red tape for French schoolchildren coming to Britain on school trips is in danger of being cancelled due to new entry requirements introduced by the UK. In December 2023, the new rules for French School Trips were introduced following a meeting between French President Emmanuel Macron […]

Cornwall’s mines were once a major part of Britain’s Industrial Revolution, but most have since closed down. The region is now among the poorest areas in the UK. Many companies hope that the south-west England area can now mount a revival, and take advantage of what will likely be a worldwide scramble to secure a […]

EssilorLuxottica expressed “full support’ to Chief Strategy Officer Leonardo Maria Del Vecchio – the late founding father’s son – after Milanese authorities placed him under investigation in a vast probe into alleged illegal trafficking of private information. Leonardo Maria has done a fantastic job at EssilorLuxottica. He has our full backing in this difficult time. […]

France and Germany criticised Sir Keir’s Starmer plan to tax private school fees. They said the policy could force hundreds of children from international schools, and damage diplomatic relations with UK. Helene Duchene, the French ambassador to London, and Miguel Berger the German ambassador to London told the British government that international schools which pay […]

In Europe, Marriott and Hyatt are competing to offer luxury all-inclusive resorts to cater to the growing demand of wealthy tourists. Top resorts are now offering all-inclusive packages that include high-end cuisine, champagne-on-tap and butler service. This trend is sweeping from Mexico and Caribbean to the Middle East and Africa where all-inclusive was traditionally associated […]

In its first trading update since the merger, Barratt Redrow is beginning to experience “more stable markets conditions”. Barratt acquired its smaller rival Redrow as part of a merger worth £2.5 billion announced in February. The deal was approved by the competition authorities early in October. In 2025, the deal will create a new developer […]

Rachel Reeves, in her next budget, will promise to reverse massive cuts in public investments after she confirmed rules that limit her spending power would be overhauled so the government could release up to £50bn in infrastructure spending. The chancellor announced that she would review how the Treasury calculates shortfalls within the government budget for […]

The government has announced that disposable vapes are to be banned in England by the summer of next year. In June 2025, it will become illegal to sell vapes for single use. This is to prevent environmental damage as well as their widespread usage by children. The Department for Environment, Food and Rural Affairs announced […]

Intel, the US chipmaker, has won an ongoing battle against a fine of over €1bn levied by the European Commission due to its alleged abuse of market dominance when selling computer chips. The European Court of Justice issued a final decision on Thursday that upheld a previous judgment which had annulled the €1.06bn fine (£880m). […]

John Lewis declared that the “buzz” was back as it announced an upgrade of its Oxford Street shop, which included a Jamie Oliver cooking school and a revamped beauty section. The London store will offer more than 40 cooking classes, led by the team of the celebrity chef. The cooking school will open in March […]

Unilever’s third-quarter sales increased more than expected, as its ice-cream business grew ahead of the spin-off next year. FTSE 100, which includes brands such as Marmite and Dove soap, reported a underlying growth in sales of 4.5 percent during the third-quarter, marking its largest quarterly increase in sales for three and a quarter years. The […]

Barclays’ British High Street business performed better than expected, and its investment bank has resumed deal-making. This led to a larger than forecast increase in the lender’s quarterly profit. The FTSE 100 results on Thursday were a positive for CS Venkatakrishnan (also known as Venkat), the Barclays CEO who, in February, unveiled a 3-year turnaround […]

Anglo American could be pushed to further reduce its diamond production this year by a fall in luxury consumer spending, which would complicate plans for the sale or stock exchange flotation of trophy business. Anglo American stated that the recovery of diamond markets was expected to take “prolonged”, as the depressed demand in China and […]

Many City analysts saw Murray Auchincloss, the Canadian executive who was confirmed as BP’s permanent boss by the company in January, as the continuity candidate that would help stabilize the ship following the abrupt departure Bernard Looney. The company has been plagued by the perception of being in a strategic fog for ten months now, […]

The head of Abrdn warned that British pension funds should not be “forced” into purchasing UK assets by the government. Jason Windsor argued that proposals to require retirement funds to invest minimum amounts in the UK were a bad idea. He believes it would be better to introduce reforms that make the UK more appealing […]

Mike Ashley, the retail tycoon, has made a bold bid to become CEO of Boohoo. He is pushing for a merger between Asos and the struggling fast fashion retailer. Ashley’s Frasers Group’s proposal would reshape online fashion retail, consolidating two of UK’s largest digital players and expanding Ashley’s influence over the industry. It is believed […]

IMF warns that the gap between the US and European gross domestic products will widen by the end decade. It also sounded the alarm over the “lack” of business dynamism on the continent. In , the IMF’s latest Economic Outlook for Europe, it said that the IMF predicted that the IMF would lower the annual […]

According to a major survey, partners at large US law firms earn more than ever. The average compensation is $1.4mn. Major, Lindsey & Africa, a recruitment specialist, surveyed 200 of the top lawyers in the country and found that the partner pay has risen 26 percent over the last two years, surpassing the basic pay […]

Tesla shares posted their largest one-day increase since 2013, after the world’s biggest electric vehicle manufacturer reported a higher than expected quarter profit. The company also forecasted “slight growth in deliveries” this year, and a large jump in 2025. This performance is a significant turnaround for Tesla which had suffered a number of disappointing quarters […]

As part of its strategy for breaking Chinese dominance of the supply chains of essential minerals, the US approved construction of an enormous new lithium mine in Nevada. It also extended tax breaks to certain miners. Ioneer, an Australian company, announced on Thursday that it received a federal license for its Rhyolite Ridge Lithium-Boron mine. […]

Rachel Reeves confirmed that she would change the UK fiscal rules in next week’s Budget. She wants to borrow more money and fund an extra £20bn of investment each year. The UK chancellor stated that her “investment rules” will ensure Britain avoids “the drops in public sector investments planned under the previous government”. According to […]

The government is planning to give independent regulators the power to stop Premier League teams from selling their stadiums. The Premier League tried to close a loophole in June that allows clubs to use profits from property sales to avoid the profitability and sustainability rule charges. However, the league failed to gain the support of […]

Mike Ashley’s Frasers Group criticised Mulberry’s management after it withdrew from its attempt to acquire the luxury handbag manufacturer following a number of rejected bids. Frasers, Mulberry’s 2nd largest shareholder, with 37% of the company, made several bids for the brand. The latest was a £111m offer this week . All offers were rejected . […]

Tony Blair’s think-tank says that a pay-per mile road pricing system should be introduced now. It is also urging the chancellor, to overhaul motoring tax. Rachel Reeves will likely confirm that the temporary cut of 5p in fuel duty is over and may announce a rise to the tax on petrol and diesel paid at […]

Rachel Reeves, at the International Monetary Fund will announce a plan for changing Britain’s debt regulations that will allow the government to spend an additional £50bn on infrastructure projects. After weeks’ worth of speculation the chancellor confirmed at the Fund’s annual meetings on Thursday in Washington that the budget next week will include a method […]

Apple has introduced a new feature in Australia which will allow children who receive nude images or videos to report them directly to their company. The company can then report these messages to the police. This change is part of Apple’s new beta release for Australian users on Thursday. The extension is a continuation of […]

The UK’s largest mortgage lender, which is also the country’s largest bank by assets, has raised its expectations for house prices to rise this year. It has also posted a better-than-expected quarterly profit as customers are more confident. Lloyds Banking Group (which accounts for over a fifth in the mortgage market) said that it now […]

Reckitt Benckiser’s chief executive has said that the FTSE100 consumer goods group would be open to settling US safety lawsuits filed against its premature baby formula in order to smooth a potential sale of its nutrition division. In March, shares in Reckitt fell on fears of large potential liabilities from hundreds cases. A state court […]

Gatemore Capital Management, an activist investor, has called on Watches of Switzerland (formerly Watches of Switzerland) to move to New York and join the exodus of London listed companies. Gatemore, the company that holds 1.9 million shares or 0.8% of the luxury retailer’s stock, has urged the bosses of the company to take action to […]

Deloitte UK has laid off 250 employees, the third time in 13 months that the Big Four have made redundancies. This move is believed to be aimed at employees in the advisory division of Deloitte who are underperforming. Sources said that the reductions were part of “performance management”, and those affected “received adequate payments for […]

Heathrow is predicting a “probable return” to dividends following four years of dry spells. A summer of music, sport and entertainment helped lift passenger numbers to record highs. In the nine months leading up to September 30, Europe’s busiest international airport saw 63.1 million passengers pass through its doors, an increase of 6.2% over the […]

Boeing announced a $6bn loss for the quarter and warned that it would continue bleeding cash. The new CEO Kelly Ortberg said the plane maker had to overhaul its culture in order to end the multi-year crisis which has shaken customers’ and investors’ confidence. The plane manufacturer burned $2bn of cash in the third-quarter, bringing […]

Goldman Sachs, Apple and the US Consumer Finance Watchdog have been fined more than $89mn for “illegally sidestepping” their obligations towards customers of their joint credit card business. The fines announced Wednesday highlight the difficulties Apple has had when it comes to expanding their financial products to everyday consumers. Goldman’s business was a major departure […]

The Bank of England Governor said that the UK must continue to experience a decline in the price of services from its current level. Andrew Bailey, speaking after the BoE’s target of 2 percent for consumer price growth was missed, falling to just 1.7 percent in September, said that he saw a “good thing” about […]

Tesla shares soared Wednesday after the company reported a higher-than-expected quarterly profit. The company also forecasted “slight” growth in deliveries in 2019 and a large jump in 2025. This performance is a significant turnaround for Tesla which had suffered a number of disappointing quarters due to concerns about a slowing demand for EVs. Elon Musk’s […]

Starbucks suspended its financial guidance after it released unexpected results showing a drop in revenue and sharp decline in quarterly earnings. The preliminary results were published more than one week before schedule. They are the first to be released under the new CEO Brian Niccol who took over the world’s biggest coffee chain just last […]

Plans for a total overhaul of the system could prevent water companies in England from making profits. A new commission, set up by the Department for Environment, Food and Rural Affairs, is considering the idea in response to public outrage over how firms prioritize profit over the environment. According to sources at the Department, they […]

The International Monetary Fund warned that the tariffs proposed by Donald Trump, the US presidential candidate, could harm global growth and upgraded its forecasts for the UK’s economy. The Washington-based organization said that tariffs can trigger tit for tat trade wars, which impoverish economies in dispute as well as the global economy. The report said […]

The FTSE-100 hotel group that owns the Holiday Inn, Crowne Plaza and other chains was impacted by a weakening of demand in China. InterContinental Hotels Group said global revenue per room available, or Revpar, the key industry measure, rose by 1.5 percent in the three-month period ending in September. This was lower than consensus estimates […]

Hunting has had to reduce its profit forecast for this year due to falling oil and gas prices, and a slowdown on the US Onshore Market. The FTSE 250 company that provides oil and gas services said it expects its adjusted earnings to be between $123 and $126 millions, compared with the previous guidance of […]

HSBC bankers are bracing for job loss after the new boss announced the largest overhaul in decades. The lender’s operations will be divided between East and the West to reduce costs due to mounting geopolitical tensions. Georges Elhedery took over the Asia-focused bank group in September. He said that his internal restructuring will result in […]

Halfords Group warns that consumers are delaying purchases of expensive items due to the uncertainty surrounding the economy, and the upcoming tax changes in next week’s budget. Like-for-like, the retailer and repair shop that sells bicycles and leisure equipment, as well as car parts, reported a 0.1 percent decline in sales for the 26-week period […]

General Motors’ shares have soared after the automaker raised its profit forecast for the full year. This is due to the strong demand for SUVs and trucks. Due to rising prices and consumer spending, the largest American carmaker by sales now expects a pre-tax profit of between $14 billion and $16 billion, up from midyear’s […]