Sports Direct just bought a new corporate plane for $51.1m despite reporting its profits halved December 8, 2016 Sports Direct announced its profits had halved today, but that didn't stop the company from buying a brand new jet for $51.1m (£40.4m). The new corporate plane will join the company's corporate helicopter, a fleet of vehicles, a Best Western hotel and "several houses in and around Shirebrook" as the company's corporate assets and facilities. Read [...]
Sports Direct shares fall as it unveils 57 per cent profit hit on weak sterling December 8, 2016 Shares in troubled retailer Sports Direct fell as much as six per cent in early trading, after it revealed pre-tax profits had halved in its first half thanks to weak sterling. Underlying profit before tax dropped 57 per cent to £71.6m from £166.4m, it said, while underlying earnings before interest, taxation, depreciation and amortisation fell 33.5 [...]
Unhealthy food advertisements have officially been banned from children’s media, Cap rules December 8, 2016 Rules banning the advertising of high fat, salt or sugar (HFSS) products in children's media will extend to apply to social media and online advertising, The Committee of Advertising Practice (Cap) today announced. Formerly applying only to broadcast advertising, this new rule for under-16s has been set for all non-broadcast media, including print, cinema and online and [...]
Sony wants to make the next Pokemon Go December 7, 2016 Sony is hoping to mimic the success of rival Nintendo’s Pokemon Go with its announcement of as many as six new smartphone games to be released next year. Starting in April 2017, Sony will release new games made for mobile phones, initially available in Japan and other Asian countries, said Tomoki Kawaguchi, executive director of [...]
Camden Town Brewery, one of London’s leading craft beer brands, is launching in NYC December 7, 2016 Calling all British craft beer fiends: Camden Town Brewery will launch its flagship Hells lager in New York City this month. The craft beer brewer was acquired by global industry leader AB InBev for £85m about a year ago and has received significant investment from the brand's high end division, enabling it to launch into new markets and build a new, purpose-built [...]
Ikea’s global profit is up 20 per cent for 2016 with growth in China December 7, 2016 Swedish furniture retailer Ikea Group reported global profit rose 20 per cent following its fifth year of sales growth in the UK last month and rapid growth in China. The figures Total sales for the financial year reached €34.2bn (£29.1bn), up 7.1 per cent from last year, and sales grew in 27 out of 28 markets. China was one of [...]
Kew Gardens beats the Tower of London and the London Eye as the city’s top attraction December 7, 2016 Buckingham Palace, Tower Bridge, Big Ben – these might be the first London landmarks tourists want to visit, but expectations were smashed this year as The Royal Botanic Gardens, Kew won the top spot as London's best attraction for 2016. More than 23,000 public votes were cast and a panel of industry experts weighed in on top attractions [...]
Credit Suisse shares rise as chief exec Tidjane Thiam cuts costs and lowers profit targets December 7, 2016 Credit Suisse shares have risen more than six per cent in early trading after it announced more than 1bn Swiss francs (£785.4m) in extra cost cuts. It is just over a year since chief executive Tidjane Thiam set out his restructuring strategy for the bank to focus on markets in Switzerland and Asia and ditch investment banking for wealth management, [...]
SoftBank shares surge after chief exec announces $50bn US investment with President-elect Trump December 7, 2016 US President-elect Donald Trump and Masayoshi Son, chief executive of SoftBank, announced today that Son would invest $50bn (£39.5bn) in the US and create 50,000 new jobs. SoftBank's shares soared 6.2 per cent, helping push Japan's Nikkei up 0.7 per cent, Reuters reported. In the lobby of Trump Tower in Manhattan, Son said his telecommunications and tech [...]
