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.... “Even if those 400,000 don’t come back, it won’t knock them out,” said one, adding that he still expected Ryanair to continue its phenomenal rate of growth, adding 30 planes a year, which the analyst said was “like creating several new airlines for anyone else”. So confident is O’Leary of recovering from this mess of his own making that he is not changing the airline’s full- and half-year profits guidance. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 06:00:08 AM
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.... If there’s a path to labour organising, it’s really significant,” he says. “On the other hand, we modelled a 20% increase in unit labour costs as an estimation and that impacted Ryanair’s profitability by 12%. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 03:00:19 PM
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....The world’s largest toy store chain said it had filed for Chapter 11 to restructure its debts and work out a sustainable path for its finances that would allow it to invest in long-term growth. The New Jersey-based company, which employs 64,000, said the vast majority of its 1,600 stores around the world were profitable, adding that its businesses outside North America, including the UK, were not affected. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 07:35:56 AM
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.... Analysts at Dublin-based Goodbody Stockbrokers said the final bill was likely to be €34. 5m as they marked down Ryanair’s full-year profit forecast by 2. ... [Read full article on Guardian ]
Monday 18th of September 2017 06:38:58 PM
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....4% on Monday, which seems an overly gentle reaction to last Friday’s late shocker that up to 2,000 flights will be cancelled over the next six weeks. The direct short-term impact on Ryanair’s profits may be modest – the peak high-margin summer season is over – but the company’s chaotic handling of events suggests the tale is far from over. ... [Read full article on Guardian ]
Monday 18th of September 2017 02:26:16 PM
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....United’s earning power from its global popularity, broadcasting, sponsorships and 76,000 capacity stadium far exceeds that of any other Premier League club; their income of £515m in 2015-16 was £123m more than that of the next highest-earning club, the Abu Dhabi-owned Manchester City. United’s pre-tax profit last year was £57m, while the cost of financing their debts was £25m. ... [Read full article on Guardian ]
Thursday 21st of September 2017 06:41:33 PM
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....The EU is pushing ahead with plans to rewrite tax rules for technology companies, aimed at increasing governments’ take from the likes of Google, Facebook and Amazon. The European commission is looking at ways to capture tax from companies that may have no offices, shops or other physical presence in a country, but are accruing profits through large numbers of online users or customers. ... [Read full article on Guardian ]
Thursday 21st of September 2017 09:34:03 AM
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.... HTC is a long-time partner of Google and manufactures the US firm’s latest Pixel smartphone. Google’s strategy of licensing Android for free and profiting from embedded services such as search and maps has made Android the dominant mobile operating system with 89% of the global market, according to IDC. ... [Read full article on Guardian ]
Thursday 21st of September 2017 04:05:42 AM
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.... But this is an airline that’s planning to report close to €1. 5bn profit. ... [Read full article on Guardian ]
Friday 22nd of September 2017 12:38:25 PM
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. A group of estate agents who secretly conspired to keep their fees high to make “as much profit as possible” have been fined £370,000 for operating an illegal cartel. ... [Read full article on Guardian ]
Monday 18th of September 2017 02:43:50 PM
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Thursday 21st of September 2017 04:31:10 PM
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....5m (£30. 4m) as they marked down Ryanair’s full-year profit forecast by 2. ... [Read full article on Guardian ]
Monday 18th of September 2017 02:23:23 PM
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.... Its website lists both Direct Line and RSA among its customers. Below a picture of a flooded landscape it says that it is “making risk more profitable” for the UK’s biggest home and motor insurer, and that the UK floods of 2007 were the main catalyst for a project it handled for the Direct Line subsidiary NIG. ... [Read full article on Guardian ]
Saturday 23rd of September 2017 05:59:08 AM
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. In its annual report and accounts for the year ending 31 December 2007, HBOS reported a profit before tax of £5. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 02:52:10 PM
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. The Co-operative Group has reported a fall in profits after handing out £35m to members and community projects, and selling its final 1% stake in the Co-op Bank. ... [Read full article on Guardian ]
Thursday 21st of September 2017 11:09:46 AM
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....Another company with problems is construction and support services company Carillion. In July, it issued a profit warning, blaming a Brexit-related slowdown in orders, scrapped its dividend and said Richard Howson was stepping down as chief executive but would become chief operating officer. ... [Read full article on Guardian ]
Sunday 24th of September 2017 08:59:27 AM
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.... When the car is handed back after three years for resale, some customers have complained of being hit with charges for damage to the car or wear and tear that they thought were covered by the monthly payments and servicing. The suspicion is that car leasing firms are seeking ways to make extra profits from unsuspecting customers. ... [Read full article on Guardian ]
Tuesday 19th of September 2017 12:50:45 PM
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....KPMG donated the equivalent of 40m South African rand (£2. 2m) – the fees earned from Gupta company work from 2002 – to not-for-profit groups working in education and the anti-corruption sector. ... [Read full article on Guardian ]
Monday 18th of September 2017 11:31:52 AM
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....Mitie Group may cut up to 480 jobs as it overhauls its cleaning and engineering divisions, saying the cost of its turnaround will be higher than expected. The provider of pest control, cleaning, security and healthcare services is restructuring after a string of profit warnings, which it has blamed on uncertainty surrounding Brexit and rising costs. ... [Read full article on Guardian ]
Wednesday 20th of September 2017 04:22:00 PM
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Latest Finance News related to Profit

AA has been a bit of a car crash - can it get back on the road? image
Source : Guardian [Read Article] Sunday 24th of September 2017 08:59:27 AM
....Another company with problems is construction and support services company Carillion. In July, it issued a profit warning, blaming a Brexit-related slowdown in orders, scrapped its dividend and said Richard Howson was stepping down as chief executive but would become chief operating officer. ...
Relief for British apple growers as Tesco relaxes its 'blemish-free' rules image
Source : Guardian [Read Article] Saturday 23rd of September 2017 03:54:48 PM
....Apple growers welcomed the move, saying the frost ring damage was largely superficial with a minimal effect on the flesh. A spokesman for the British Fruit Growers’ Association said retailers’ rules had a big impact on grower’s profits and praised Tesco’s stance. ...
Cancellations and staffing crises – is Ryanair losing height at last? image
Source : Guardian [Read Article] Saturday 23rd of September 2017 03:00:19 PM
.... If there’s a path to labour organising, it’s really significant,” he says. “On the other hand, we modelled a 20% increase in unit labour costs as an estimation and that impacted Ryanair’s profitability by 12%. ...
You hate Ryanair – but you will fly it again image
Source : Guardian [Read Article] Saturday 23rd of September 2017 06:00:08 AM
.... “Even if those 400,000 don’t come back, it won’t knock them out,” said one, adding that he still expected Ryanair to continue its phenomenal rate of growth, adding 30 planes a year, which the analyst said was “like creating several new airlines for anyone else”. So confident is O’Leary of recovering from this mess of his own making that he is not changing the airline’s full- and half-year profits guidance. ...
Direct Line, why has my home insurance gone up by 442% in one year? image
Source : Guardian [Read Article] Saturday 23rd of September 2017 05:59:08 AM
.... Its website lists both Direct Line and RSA among its customers. Below a picture of a flooded landscape it says that it is “making risk more profitable” for the UK’s biggest home and motor insurer, and that the UK floods of 2007 were the main catalyst for a project it handled for the Direct Line subsidiary NIG. ...
Head of G4S detention centre quits after abuse allegations image
Source : Guardian [Read Article] Friday 22nd of September 2017 05:21:52 PM
....The company has faced severe criticism over its management of the two IRCs. This month, the Guardian revealed that both detention centres appeared to make larger profit margins than what was agreed with the Home Office. ...
Ryanair staff brand company a 'disgrace' over handling of issues image
Source : Guardian [Read Article] Friday 22nd of September 2017 12:38:25 PM
.... But this is an airline that’s planning to report close to €1. 5bn profit. ...
Amazon and Facebook keen on Premier League rights, say Manchester United image
Source : Guardian [Read Article] Thursday 21st of September 2017 06:41:33 PM
....United’s earning power from its global popularity, broadcasting, sponsorships and 76,000 capacity stadium far exceeds that of any other Premier League club; their income of £515m in 2015-16 was £123m more than that of the next highest-earning club, the Abu Dhabi-owned Manchester City. United’s pre-tax profit last year was £57m, while the cost of financing their debts was £25m. ...
Co-op profits fall as it offloads final stake in bank image
Source : Guardian [Read Article] Thursday 21st of September 2017 11:09:46 AM
. The Co-operative Group has reported a fall in profits after handing out £35m to members and community projects, and selling its final 1% stake in the Co-op Bank. ...
EU to find ways to make Google, Facebook and Amazon pay more tax image
Source : Guardian [Read Article] Thursday 21st of September 2017 09:34:03 AM
....The EU is pushing ahead with plans to rewrite tax rules for technology companies, aimed at increasing governments’ take from the likes of Google, Facebook and Amazon. The European commission is looking at ways to capture tax from companies that may have no offices, shops or other physical presence in a country, but are accruing profits through large numbers of online users or customers. ...
Google to buy part of HTC's smartphone operations for $1bn image
Source : Guardian [Read Article] Thursday 21st of September 2017 04:05:42 AM
.... HTC is a long-time partner of Google and manufactures the US firm’s latest Pixel smartphone. Google’s strategy of licensing Android for free and profiting from embedded services such as search and maps has made Android the dominant mobile operating system with 89% of the global market, according to IDC. ...
B&Q owner Kingfisher won't let its European DIY firms do their own thing | Nils Pratley image
.... It just indicates Kingfisher’s ambition to run itself as a single company, rather than letting its nine European do-it-yourself businesses do their own thing. The promise from the chief executive, Véronique Laury, is that, by 2021, unification will yield annual profits £500m better than BAU (business as usual, obvious). ...
Mitie Group may cut 480 jobs as clean-up costs rise image
Source : Guardian [Read Article] Wednesday 20th of September 2017 04:22:00 PM
....Mitie Group may cut up to 480 jobs as it overhauls its cleaning and engineering divisions, saying the cost of its turnaround will be higher than expected. The provider of pest control, cleaning, security and healthcare services is restructuring after a string of profit warnings, which it has blamed on uncertainty surrounding Brexit and rising costs. ...
Tycoon says he needs subsidy to build Land Rover Defender successor in UK image
Source : Guardian [Read Article] Tuesday 19th of September 2017 02:46:05 PM
....“It would be quite a challenge to do it in the UK without a subsidy because there are facilities and trained workforces [elsewhere], so in the UK we get higher risk and higher costs. At the end of the day it has to be a profitable venture. ...
What you need to know about car loans image
Source : Guardian [Read Article] Tuesday 19th of September 2017 12:50:45 PM
.... When the car is handed back after three years for resale, some customers have complained of being hit with charges for damage to the car or wear and tear that they thought were covered by the monthly payments and servicing. The suspicion is that car leasing firms are seeking ways to make extra profits from unsuspecting customers. ...
Toys R Us files for bankruptcy in US and Canada image
Source : Guardian [Read Article] Tuesday 19th of September 2017 07:35:56 AM
....The world’s largest toy store chain said it had filed for Chapter 11 to restructure its debts and work out a sustainable path for its finances that would allow it to invest in long-term growth. The New Jersey-based company, which employs 64,000, said the vast majority of its 1,600 stores around the world were profitable, adding that its businesses outside North America, including the UK, were not affected. ...
Ryanair to tell 400,000 passengers of cancelled flights after roster 'mess-up' image
.... Analysts at Dublin-based Goodbody Stockbrokers said the final bill was likely to be €34. 5m as they marked down Ryanair’s full-year profit forecast by 2. ...
CMA fines estate agents cartel £370,000 for rate fixing image
Source : Guardian [Read Article] Monday 18th of September 2017 02:43:50 PM
. A group of estate agents who secretly conspired to keep their fees high to make “as much profit as possible” have been fined £370,000 for operating an illegal cartel. ...
Ryanair is 'unnecessarily pissing people off' – again | Nils Pratley image
Source : Guardian [Read Article] Monday 18th of September 2017 02:26:16 PM
....4% on Monday, which seems an overly gentle reaction to last Friday’s late shocker that up to 2,000 flights will be cancelled over the next six weeks. The direct short-term impact on Ryanair’s profits may be modest – the peak high-margin summer season is over – but the company’s chaotic handling of events suggests the tale is far from over. ...
Ryanair vows to publish details of all flights cancelled in next six weeks image
Source : Guardian [Read Article] Monday 18th of September 2017 02:23:23 PM
....5m (£30. 4m) as they marked down Ryanair’s full-year profit forecast by 2. ...
Bell Pottinger: father of executive at centre of scandal quits Rentokil board image
....KPMG donated the equivalent of 40m South African rand (£2. 2m) – the fees earned from Gupta company work from 2002 – to not-for-profit groups working in education and the anti-corruption sector. ...
Launch of iPhone X is a reminder of the perils of paying monthly for your mobile image
....With the rising cost of mobiles – the new iPhone being a prime example – people are now holding on to their handsets for longer. Last month, Dixons Carphone warned of a steep fall in profits this year, citing the trend as one reason. ...
Crisis in Toyland: how the shift online places our childhood favourites in peril image
....Some of Toytown’s favourite characters are in trouble. The news that Toys R Us, the world’s biggest toy retailer, could be facing bankruptcy followed hot on the heels of the announcement from Lego, the world’s most profitable toy manufacturer, that the first half of this year had seen it suffer the first fall in global sales for more than a decade. ...
US retaliation feared as Brussels prepares to close Google’s tax loopholes image
Source : Guardian [Read Article] Saturday 16th of September 2017 11:03:24 PM
....EU leaders have agreed to make “swift” progress on raising the tax bills for digital giants such as Google and Facebook, despite warnings from smaller states that unilateral action could drive business away from Europe. France is pushing for a new way of taxing them on the basis of their turnover – rather than profits – to increase the amount collected from companies accused of paying too little in Europe. ...
Social media stars face crackdown over money from brands image
Source : Guardian [Read Article] Friday 15th of September 2017 11:26:40 PM
.... Members of the Kardashian family, who promote a range of products from “detox” tea to waist-training corsets to their tens of millions of followers, can reportedly command as much as $500,000 (£370,000) per post. But even lower-profile celebrities can make a profit from the photo-sharing app owned by Facebook. ...
Food brands 'cheat' eastern European shoppers with inferior products image
Source : Guardian [Read Article] Friday 15th of September 2017 04:00:47 PM
....In an interview with the Guardian, Slovenia’s prime minister, Miro Cerar, said he too believed the multinationals had been involved in misleading practices. “I believe sometimes you can clearly see the reasons for such unacceptable practices is simply to gain more profit,” he said. ...
Head of scandal-hit G4S detention centres is put on administrative leave image
Source : Guardian [Read Article] Friday 15th of September 2017 03:13:59 PM
....The news is another unfortunate milestone in a difficult period for G4S, which has faced severe criticism over its management of the two IRCs in the UK. The Guardian revealed this week that both detention centres appeared to make larger profit margins than that agreed with the Home Office. ...
KPMG chiefs in South Africa quit amid Bell Pottinger scandal image
Source : Guardian [Read Article] Friday 15th of September 2017 12:21:12 PM
....KPMG said it was donating the equivalent of 40m South African rand (£2. 2m) – the total fees earned from Gupta company work from 2002 – to not-for-profit groups working in education and the anti-corruption sector. ...
JD Wetherspoon boss: EU leaders should take a 'wise-up pill' on Brexit image
Source : Guardian [Read Article] Friday 15th of September 2017 07:00:46 AM
....“There seems to be little genuine appetite for a free trade deal from the Brussels bureaucracy, so EU companies are, paradoxically, reliant on the goodwill of UK consumers, who are likely to prefer tariff-free goods in the future from non-EU countries, which are generally in favour of free trade, rather than deals with companies which are subject to the diktat of those who wish to punish the UK,” said Martin. Wetherspoon’s full-year pre-tax profits rose from £80. ...
California’s big battery experiment: a turning point for energy storage? image
Source : Guardian [Read Article] Friday 15th of September 2017 06:00:02 AM
.... At the grid scale, utilities can measure the benefits of storage and pay for it. As for the Aliso project, the first summer since installation is drawing to a close and the potential blackouts haven’t been an issue, says Dede Subakti, who directs operations-engineering services at the California Independent System Operator, a non-profit that oversees the flow of electricity through California’s grid. ...
End austerity – and kickstart Martin Luther King’s revolution of values | Richard Kozul-Wright image
.... Calling for “a radical revolution of values”, King concluded: “We must rapidly begin … the shift from a thing-oriented society to a person-oriented society. When machines and computers, profit motives and property rights are considered more important than people, the giant triplets of racism, extreme materialism and militarism are incapable of being conquered. ...
Northern Rock investors' compensation claim just doesn't stand up | Nils Pratley image
.... Yes, it is probably true that the Rock was not insolvent, just suffering an extreme liquidity crisis. After all, the Treasury is set to make a clear profit from the run-off of the mortgage book. ...
The financial system is still blinking red. We need reform more than ever | Rana Foroohar image
.... It’s a term for the trend by which Wall Street and its way of thinking have come to reign supreme in America, permeating not just the financial industry but all American business. It includes everything from the growth in size and scope of the financial sector itself, which creates only 4% of US jobs but takes about a quarter of corporate profits, to the rise in risky, debt-fueled trading, to the way in which businesses in all industries have come to emulate finance, pouring more money into the buying and selling of existing assets, and less into productive investment in things such as research and development or worker training. ...
Sports Direct challenged by MPs over claims it underpays couriers image
Source : Guardian [Read Article] Thursday 14th of September 2017 01:32:43 PM
....”. Rachel Reeves, the Labour MP and chair-elect of the business, energy and industrial strategy committee, said it appeared there could be a “stitch-up between Hermes and Sports Direct to short-change low-paid couriers in order to boost company profits”. ...
Next softens doom and gloom forecasts despite fall in profits image
Source : Guardian [Read Article] Thursday 14th of September 2017 08:32:17 AM
. Next said the outlook for sales was brighter than its previous gloomy predictions as it reported a near 10% fall in first half profits. ...
Amazon and eBay turning blind eye to VAT evasion, say MPs image
Source : Guardian [Read Article] Wednesday 13th of September 2017 06:10:38 PM
. Amazon and eBay have been accused by MPs of profiting from VAT evasion at the expense of taxpayers and UK businesses. ...
G4S may make more profit than allowed from removal centres, figures suggest image
Source : Guardian [Read Article] Wednesday 13th of September 2017 05:36:45 PM
. The security firm G4S appears to have been making more profit than its contract allows from the immigration removal centres (IRCs) it runs for the government, according to an internal document seen by the Guardian. ...
Tobacco company launches foundation to stub out smoking image
Source : Guardian [Read Article] Wednesday 13th of September 2017 04:12:12 PM
....“With more and more countries implementing the lifesaving measures of the global tobacco treaty and institutions like the UN Global Compact severing ties, one has to wonder if this is simply another attempt by PMI to regain a lost foothold in international and public health arenas. At the very least, this is clearly an attempt to lock in e-cigarettes and other ‘reduced harm’ products as the solution to the public health epidemic that PMI continues to drive and profit from. ...
Sky chief executive's pay quadruples to £16m image
Source : Guardian [Read Article] Wednesday 13th of September 2017 03:44:16 PM
. Sky’s chief executive, Jeremy Darroch, was paid more than £16m in the year to the end of June, despite a hefty fall in annual profits at the broadcaster’s UK and Ireland business. ...
Chocolate industry drives rainforest disaster in Ivory Coast image
Source : Guardian [Read Article] Wednesday 13th of September 2017 12:30:10 PM
....In Mount Sassandra, farmers run away at the sight of visitors, aware that their business is illegal. But these farmers are not the ones earning the vast profits to be made from chocolate: many live in poverty, often exploited and underpaid for their crop. ...
Superdry's co-founders to share wealth with 4,500 employees image
Source : Guardian [Read Article] Wednesday 13th of September 2017 06:35:18 AM
....The brand got its big break when David Beckham wore one of its Osaka 6 T-shirts on the cover of his 2005 calendar. SuperGroup made a pre-tax profit of £84. ...
Murdochs' Sky bid isn't the slam dunk it looked a month ago | Nils Pratley image
Source : Guardian [Read Article] Tuesday 12th of September 2017 08:00:31 PM
....75, which is a significant gap. But one doesn’t know at what price a standalone Sky’s shares would trade – they were 760p before the Murdochs made their move but revenue and profits have barely missed a beat since then. ...
iPhone X: new Apple smartphone dumps home button for all-screen design image
Source : Guardian [Read Article] Tuesday 12th of September 2017 06:57:46 PM
.... An OLED display and the new design is likely to standard on future iPhone models, but Apple must first tackle the challenge of obtaining sufficient supply. “A staggered introduction of OLED technology and the new design enables Apple to steadily ramp up scale in its supply chain and maximise profits. ...
JD Sports Fashion rides athleisure boom as sales rise by more than 40% image
Source : Guardian [Read Article] Tuesday 12th of September 2017 12:10:58 PM
....Demand for sports-led womenswear continues to drive sales at JD Sports Fashion as the company shrugs off fears of a fashion meltdown on the high street. The retail group, which owns Blacks, Millets, Size and Go Outdoors as well as the JD Sports chain, reported a 33% rise in pre-tax profits to £102. ...
Till Time’s Last Sand review – a bloodless history of the Bank of England image
Source : Guardian [Read Article] Tuesday 12th of September 2017 06:00:27 AM
.... As the British empire was gaining ascendancy, the Bank was sometimes seen as rapacious and gauche. David Ricardo wrote to John Stuart Mill in 1815: “I think the Bank an unnecessary establishment, getting rich by those profits which fairly belong to the public. ...
Halfords and Prudential criticised over unpaid traineeships image
Source : Guardian [Read Article] Tuesday 12th of September 2017 05:00:26 AM
....Gail Cartmail, a Unite assistant general secretary, said: “These schemes are clearly not about training, but forcing people into unpaid work. The fact that well-known brands are operating these schemes to boost their profits is especially alarming. ...
College cleaners defeated outsourcing. They’ve shown it can be done | Aditya Chakrabortty image
.... I have covered many such outsourcing contracts before, including at nearby colleges. To make big profits on basic services, the outsourcers hammer workers’ pay and conditions. ...
Hinkley nuclear power is being priced out by renewables | Nils Pratley image
Source : Guardian [Read Article] Monday 11th of September 2017 06:12:14 PM
.... When the numbers are as horrible as Carillion’s – a colossal £845m provision and net debt that had soared to £695m at the last count – any turnaround plan is bound to require a new bean-counter. Other notable departees include Richard Howson, who was stood down as chief executive after July’s profits warning only to reappear as chief operating officer. ...
Charity shops: bringing in the cash, but bringing down the high street? image
Source : Guardian [Read Article] Monday 11th of September 2017 06:09:00 AM
....That still leaves the vast majority of people associating charity shops with decline. And with charities under huge pressure over funding, there’s more than £270m at stake for them on UK high streets – that’s how much profit UK charity shops generated in 2015/16 for their parent charities. ...
Recruitment agency Cordant morphs into social enterprise image
Source : Guardian [Read Article] Monday 11th of September 2017 05:00:04 AM
. One of the UK’s largest recruitment firms is to tear up its 60-year-old structure and become a “social enterprise” with a pay cap and profit-sharing plan, in a move the family who own the company hope will inspire others businesses to follow suit. ...
Like fading powers of the past, Britain shows signs of being in terminal decline  | Will Hutton image
....I made similar arguments in my book The State We’re In 20 years ago and have attended many such launches ever since, often graced by bishops and some daring business executives prepared to break cover and speak out. It’s the same story of underinvestment; a woeful track record on R&D; overemphasis on high, short-term profits; an incredibly poor record on productivity and stagnating real wages. ...
PR execs behaving badly... What else would you expect? | Catherine Bennett image
Source : Guardian [Read Article] Saturday 9th of September 2017 11:04:21 PM
.... Had he taken on an expert PR, as opposed to a newsroom apprenticeship, newspaper testimonies to his brilliance might have appeared as spontaneously unsought as was Vogue’s “Rose in the Desert” tribute, when Bell “helped” Asma al-Assad. If it expects people not to laugh when Ingham describes it as “overwhelmingly ethical”, the PR industry might want to extend its concept of disrepute beyond Bell Pottinger’s offence and spend a few years evicting members grubbing in London’s profitable reputation laundry, ditto the revolving door that remains as active as it was in 2011, when exposed by Leveson and the Bureau of Investigative Journalism. ...
The $1tn question: how far can the new iPhone 8 take Apple? image
Source : Guardian [Read Article] Saturday 9th of September 2017 03:00:11 PM
.... Tuesday’s event, with the iPhone 8 the star attraction, will strive to meet investors’ – and customers’ – vaulting expectations. But what will Apple tempt users with to justify Wall Street’s faith in its future profits? An Apple spokesman declined to discuss what will be revealed at the event in the company’s $5bn, spaceship-shaped Cupertino headquarters. ...
Monzo? It might just be the future of banking image
Source : Guardian [Read Article] Saturday 9th of September 2017 06:00:00 AM
....But in July Monzo reported losses of nearly £7m. Blomfield casually admits he’ll burn through far more than that before making a profit. ...
Does Peter Hargreaves have a whale of an opportunity for UK investors? image
Source : Guardian [Read Article] Saturday 9th of September 2017 05:59:00 AM
.... “Of all the people who ever worked at Hargreaves Lansdown, I never met anyone who was so industrious and talented at the same time,” says Hargreaves. Yiu’s approach to picking investments is to thoroughly research a company and its profit prospects, then fixing a price that he thinks the company’s shares should be worth. ...
Sports Direct pays out £43m bonus among 2,000 staff image
Source : Guardian [Read Article] Friday 8th of September 2017 06:21:35 PM
....Sports Direct does not have a current share bonus plan for staff after a planned scheme missed its targets. The retailer said last year it would not be paying a bonus under a scheme set to mature in 2019 after underlying profits missed the company’s target of £420m. ...
US gun makers battle 'Trump slump' as sales fall compared to 2016 image
Source : Guardian [Read Article] Friday 8th of September 2017 02:22:00 PM
....John Feinblatt, president of Everytown for Gun Safety, said in a statement: “With gun sales dropping steeply, it’s not surprising the NRA leadership and its allies in Congress want to make it easier for gun companies to sell silencers. This legislation would put gun company profits over public safety. ...
Bell Pottinger’s Asian arm separates from UK parent company image
Source : Guardian [Read Article] Friday 8th of September 2017 09:12:00 AM
....”. Piers Pottinger said the Asian operation was profitable and “trading very robustly”. ...
Richard Desmond poised to sell Express and Star to Trinity Mirror image
Source : Guardian [Read Article] Friday 8th of September 2017 07:32:26 AM
....There are also big savings to be made in areas including, commercial, finance, HR and especially printing with Desmond owning a huge operation in Luton. The loss-making magazine operation, which includes the profitable OK!, could be trimmed, with the ailing Star the most likely candidate. ...
Southern rail owner says service has improved despite ongoing strikes image
Source : Guardian [Read Article] Thursday 7th of September 2017 09:18:04 AM
.... Go-Ahead said the settlement had reduced financial uncertainty. Go-Ahead’s profit before tax fell nearly 6% to £136. ...
Pukka tea firm vows to stay ethical as PG Tips owner takes it over image
Source : Guardian [Read Article] Thursday 7th of September 2017 08:15:55 AM
....Last year Pukka made a pre-tax loss of £24,000, down from a £233,000 loss the year before. Westwell said the company did not expect to become profitable for another few years but this was part of a five-year plan. ...
Government should cut Bank of Ireland out of Post Office bank, says report image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....Ending the partnership – which offers savings, credit cards and mortgages through the Post Office brand – and buying the Dublin-based bank’s Post Office assets would cost up to £2bn, according to research from Cass Business School on behalf of the Communication Workers Union. Doing this would help boost profits at the network, removing the need for government money in the long-run. ...
Publish leaked RBS report, MPs tell FCA image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:01:44 PM
....”. Allegations about the treatment of small businesses in the GRG unit first surfaced in 2013 when Lawrence Tomlinson, a businessman who was an adviser to the then business secretary, Vince Cable, compiled a dossier alleging the bank deliberately wrecked small businesses to make profits. ...
Time to raise eurozone interest rates, says Deutsche Bank chief image
Source : Guardian [Read Article] Wednesday 6th of September 2017 07:15:46 PM
....“For me, this means one thing above all: we are now seeing signs of bubbles in more and more parts of the capital market where we wouldn’t have expected them,” he said. A tightening of monetary policy would help the EU’s banks at a time when US banks are starting to benefit from rising profits. ...
Asda cuts nearly 300 jobs at its head office as part of cost-saving effort image
Source : Guardian [Read Article] Wednesday 6th of September 2017 06:39:09 PM
....”. Asda is in the midst of a turnaround plan under the new chief executive, Sean Clarke, who is attempting to arrest falling sales as the supermarket scraps it out with rivals in a price war that has eroded profits. ...
Deutsche Bank boss says 'big number' of staff will lose jobs to automation image
Source : Guardian [Read Article] Wednesday 6th of September 2017 05:58:41 PM
....Others though have been circumspect. Kallum Pickering, an analyst with Berenberg, has said: “Producers will only automate if doing so is profitable. ...
Bell Pottinger could close by end of the year without fresh finance image
Source : Guardian [Read Article] Wednesday 6th of September 2017 11:25:01 AM
....None of the top management will hold a stake in the business, in a move designed to try and create a separation between its day-to-day running and the shareholders. Bell Pottinger is estimated to be worth about £20m, based on profits of about £4m and revenue of just over £40m. ...
The debt trap: how the student loan industry betrays young Americans image
Source : Guardian [Read Article] Wednesday 6th of September 2017 10:00:28 AM
.... Navient says most of the ire stems from structural issues surrounding college finance – like the terms of the loans, which the federal government and private banks are responsible for – not about Navient customer service. Yet during a year-long investigation into who profits off of what has become the largest source of American consumer debt, Fusion TV untangled how Navient has positioned itself to dominate the lucrative student loan industry in the midst of this crisis, flexing its muscles in Washington and increasingly across the states. ...
North Sea oil and gas sector losing thousands of jobs, survey shows image
Source : Guardian [Read Article] Wednesday 6th of September 2017 05:01:22 AM
....Oil & Gas UK said this year’s contraction, which has continued despite the price of a barrel of oil costing a third more than a year before, was the result not just of cost-cutting, but nearly $6bn worth of mergers and acquisitions. Several major oil firms have sold stakes to smaller, independent players in the region this year in search of more profitable reserves elsewhere, raising fears over further job losses. ...
Help-to-buy scheme aids some buyers, but boosts builders even more | Nils Pratley image
.... You bet it is. Since former chancellor George Osborne in 2013 committed to helping homebuyers purchase new properties with a deposit of only 5%, Redrow has reported record profits every year. ...
UK’s economic model is broken, says Archbishop of Canterbury image
Source : Guardian [Read Article] Tuesday 5th of September 2017 06:26:34 PM
....Britain’s economic model is broken and produces widespread inequality, the Archbishop of Canterbury has warned in a report backed by business leaders. Justin Welby said the UK needed to make fundamental choices about the direction of its economy, in a study that found the gains from growth are being diverted into profits rather than wages. ...
Bell Pottinger investor walks away as South Africa row deepens image
Source : Guardian [Read Article] Tuesday 5th of September 2017 11:46:30 AM
.... Bell Pottinger is known to have appointed City advisers up to 18 months ago to explore strategic options, including a sale of the business, but this fizzled out last year. Bell Pottinger, which is ranked as the 13th biggest PR consultancy in the UK, employing an estimated 190 staff, made about £4m in profits and £42m in revenues in 2015, according to the most recent publicly available financial data at Companies House. ...
888 slips into loss after record fine for failing vulnerable gamblers image
Source : Guardian [Read Article] Tuesday 5th of September 2017 08:49:24 AM
....The company swung to a pre-tax loss of $17. 3m in the six months to 30 June, from a pre-tax profit of $27. ...
Lego to axe 1,400 jobs image
Source : Guardian [Read Article] Tuesday 5th of September 2017 07:59:19 AM
....9bn Danish krone (£1. 8bn), while net profit was down 3% at 3. ...
McDonald’s workers rally outside parliament amid first UK strike image
Source : Guardian [Read Article] Monday 4th of September 2017 12:20:46 PM
....“Workers need to be protected. All McDonald’s cares about is profit. ...

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