Rolls-Royce profits cut in half as jet engine demand plummets
Engineering firm announces pre-tax profits are down by 57% to £310m in the first half as company moves towards more fuel-efficient engines The new boss of Rolls-Royce has pledged to make the defence and aerospace group simpler and faster after it reported that profits have slumped by more than half. The FTSE 100 engineer said […]
RBS expects further fines with no let-up from regulators
Burden of compensation and fines will delay resumption of dividend payments, chairman Sir Philip Hampton says Royal Bank of Scotland warned of a “noisy” 2015 as the bailed-out bank was hit by £1.3bn of charges for fines and compensation payouts to customers in the first half of the year. Sir Philip Hampton, presiding over his […]
Man sues Etihad over back injury from sitting next to obese passenger
James Andres Bassos tells Queensland court he was forced to contort his body on a flight from Sydney to Dubai while sitting next to an obese passenger who coughed a lot A man is suing an airline, claiming he got a back injury after being forced to sit next to an obese man who coughed […]
Skechers shares jump 10% in after-hours trading after earnings rise
Footwear firm’s second-quarter earnings more than double Skechers now second only to Nike among sports shoe brands in US Skechers are popular. Shares in the California shoe company jumped 10% in after-hours trading on Wednesday after the firm reported a more than doubling of quarterly earnings. Continue reading… Source: The Guardian Circular Economy RSS
Senior executives urge parliament to prioritise third runway at Heathrow
Business leaders want positive response to Airports Commission verdict, saying expansion is key to long-term prosperity and future growth of UK economy Business leaders have called on the prime minister to give a swift green light to Heathrow expansion and to timetable a parliamentary vote on a third runway by next summer. In an open […]
Treasury to tackle firms hitting retirees with huge fees for withdrawing funds
Consultation to include a cap on excessive early exit charges affecting people seeking to take advantage of new pension freedoms The Treasury is to outline plans to tackle rogue pension companies that have been applying punitive charges to over-55s trying to take advantage of the government’s new pension freedoms. On Thursday, a cap on excessive […]
Sainsbury's sells pharmacy business to Celesio in £125m deal
Sale will see owners of Lloyds Pharmacy chain take over all 281 branches and comes the week after the supermarket group raised £550m through bond issues Sainsbury’s has sold its 281-store pharmacy business to Celesio, the owner of the Lloyds Pharmacy chain, for £125m. Under the deal, Lloyds will rent out and run Sainsbury’s 277 […]
Facebook's second-quarter earnings call points toward focus on video content
Company’s second-quarter earnings were better than expected – its ad business was up 43% – and its stock rallied after initial slump in after-hours trading You’ll be seeing a lot more video on Facebook in the near future, and your musings will be easier to access. CEO Mark Zuckerberg told investors on Wednesday’s second-quarter earnings […]
Bramley apple pie filling wins protected status from European commission
UK’s famous pie ingredient gets its just desserts after eight-year campaign to win ‘traditional speciality guarantee’ title alongside mozzarella and Belgian beer In a nod to British baking that could warm the hearts of even the most eurosceptic person, the tangy taste of a Bramley apple pie filling has officially been awarded protected status by […]
Federal Reserve hints at interest rate rise but leaves them unchanged for now
Calling economy’s job gains ‘solid’, latest statement leads many to believe Fed chair Janet Yellen is targeting 16-17 September policy meeting for rate hike The Federal Reserve on Wednesday continued to pave the way for an increase in interest rates as early as September. The US central bank left its key interest rate unchanged at […]