Shell profits slip to lowest point since 2016 as weak oil and gas prices hit energy major August 1, 2019 Shell shares dropped this morning as it reported its lowest second-quarter profits since 2016, as earnings slumped more than 25 per cent. The oil and gas major suffered from lower oil and gas prices. Shares were down four per cent in early morning trading. The figures Shell profits fell 25 per cent to $3.6bn (£2.9bn) [...]
Fiat Chrysler defies global car industry woes, beating analyst forecasts July 31, 2019 Car manufacturing giant Fiat Chrysler surprised markets today by sticking to its full-year profit forecast after strong sales in its US pickup truck division helped defy an industry slowdown. The earnings were the car maker’s first since it failed to merge with Renault in June. Read more: Car industry investment grinds to a halt as [...]
Serco continues to power ahead of outsourcing crowd after US deal July 31, 2019 Serco shares rose today after it reported a nearly one-third jump in first-half underlying profit. The outsourcer, which has increasingly looked overseas in recent years, said the increase was in part down to revenue growth in North America. Read more: Serco fined £19m for government tagging contract fraud Shares rose five per cent today. The [...]
Airbus warns Europe to gear up for a no-deal Brexit July 31, 2019 Airbus has called on European governments to hasten their planning for a no-deal Brexit and bury the hatchet on a long-running subsidy spat with the US. Europe’s biggest plane maker issued a warning this morning about rising trade tensions, overshadowing a strong set of second-quarter profits which pushed Airbus’s share price up 0.4 per cent. [...]
British Airways loses court bid to stop pilot strikes over summer July 31, 2019 British Airways has lost its bid to block pilots from striking later this summer over a pay dispute, in a result which could spell chaos for British holidaymakers. The airline has been in talks with pilots in an attempt to stop them striking over the summer months. Read more: Holidaymakers face ‘perfect storm’ this summer [...]
BAE Systems enjoys profit hike after streamlining operations July 31, 2019 BAE Systems shares rose this morning as Britain’s biggest defence company reported a nine per cent increase in first half earnings. The firm said “a number of operational improvements” had driven the growth, including pushing on with delivering Typhoon and Hawk fighter jets to the Qatari government. The defence giant’s market value rose two per cent [...]
Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal July 31, 2019 Former Audi boss Rupert Stadler has been charged for his part in Volkswagen’s emissions cheating scandal, known as dieselgate. Read more: Former VW boss Martin Winterkorn faces criminal charges for emissions scandal The Munich public prosecutor’s office said this morning that it has charged Stadler and three others with false certification and criminal advertising practices. [...]
In a spin: Aston Martin suffers £78m first half loss as shares hit record low July 31, 2019 Aston Martin shares plumbed new depths this morning as the firm reported a first half loss of £78.8m, blaming a slowing global market and tumbling UK and European sales. Read more: Ex-Audi chief Rupert Stadler faces criminal charges for his role in dieselgate scandal The troubled car maker is still reeling from a profit warning [...]
Car industry investment grinds to a halt as Brexit uncertainty cripples sector July 31, 2019 Investment into Britain’s car manufacturing industry has come to a near-standstill, as companies divert hundreds-of-millions of pounds towards mitigating a potential no-deal Brexit which they fear will plunge the sector into chaos. Inward investment into the sector plummeted more than 70 per cent to just £90m in the first six months of the year, according [...]
FCA calls for contingent charging ban on pension transfer advice July 30, 2019 Britain’s markets watchdog has proposed banning financial advisers from getting paid only when a customer moves a pension pot, a practice known as contingent charging that it said cost consumers £2bn per year. MPs called for the ban last year after accusing the Financial Conduct Authority (FCA) of being too slow to prevent “vulture” advisers [...]
