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The 10 biggest business stories on Monday December 21
The 10 biggest business stories on Monday December 21
(2 days later)
1. Brent futures fell around 2 per cent to as low as $36.06 per barrel on Monday, the weakest since July 2004 and below even the $36.20 mark reached during the peak of the global financial crisis of 2008.
1. Brent futures fell around 2 per cent to as low as $36.06 per barrel on Monday, the weakest since July 2004 and below even the $36.20 mark reached during the peak of the global financial crisis of 2008.
2. Scandal-hit Toshiba is cutting nearly 7,000 jobs after projecting a net loss of 550 billion yen ($4.53 billion) for the fiscal year through March 2016.
2. Scandal-hit Toshiba is cutting nearly 7,000 jobs after projecting a net loss of 550 billion yen ($4.53 billion) for the fiscal year through March 2016.
3. Train companies will have to face complains into claims they are making it too difficult for delayed rail passengers to receive compensation, according to consumer group Which?
3. Train companies will have to face complains into claims they are making it too difficult for delayed rail passengers to receive compensation, according to consumer group Which?
4. Netflix paid no UK corporation tax last year, according to a Sunday Times investigation. It generated an estimated £200 million ($298.5 million) of revenue in Britain last year but any profits from the UK in 2014 were booked overseas.
4. Netflix paid no UK corporation tax last year, according to a Sunday Times investigation. It generated an estimated £200 million ($298.5 million) of revenue in Britain last year but any profits from the UK in 2014 were booked overseas.
5. Japanese electronics maker Panasonic has agreed to buy a majority stake in US refrigeration systems maker Hussmann from a private equity firm for over 150 billion yen (£828.49 million), people familiar with the matter said on Monday.
5. Japanese electronics maker Panasonic has agreed to buy a majority stake in US refrigeration systems maker Hussmann from a private equity firm for over 150 billion yen (£828.49 million), people familiar with the matter said on Monday.
6. Swedish telecom equipment maker Ericsson on Monday said it has signed a patent license agreement with Apple but did not specify how much it would earn from the deal.
6. Swedish telecom equipment maker Ericsson on Monday said it has signed a patent license agreement with Apple but did not specify how much it would earn from the deal.
7. Martin Shkreli, the pharmaceutical entrepreneur facing US charges of securities fraud, has said he had been the target of legal authorities for his much-criticized drug-price hikes and his over-the-top public persona, the Wall Street Journal reported.
7. Martin Shkreli, the pharmaceutical entrepreneur facing US charges of securities fraud, has said he had been the target of legal authorities for his much-criticized drug-price hikes and his over-the-top public persona, the Wall Street Journal reported.
8. “Star Wars: The Force Awakens” shattered opening weekend box-office records in North America pulling in $238 million (£158 million). The film made $517 million (£375 million) in its worldwide debut, coming in just behind Jurassic World's $574 million (£387) record.
8. “Star Wars: The Force Awakens” shattered opening weekend box-office records in North America pulling in $238 million (£158 million). The film made $517 million (£375 million) in its worldwide debut, coming in just behind Jurassic World's $574 million (£387) record.
Federal Reserve Bank Chair Janet Yellen holds a news conference where she announced that the Fed will raise its benchmark interest rate for the first time since 2008 at the bank's Wilson Conference Center December 16, 2015 in Washington, DC.
Chip Somodevilla/Getty Images
Profits at the Italian luxury goods group Prada fell 38 per cent in the quarter to 31 October, hit by slumping sales in China. Europe and Japan were the only two areas that saw modest growth for the fashion house, whose 2016 lines were modeled at the Milan Fashion Week. But a strong dollar held back travelers headed to the United States.
TIZIANA FABI/AFP/Getty Images
A man in a space suit watches a television with school children at the Science Museum ahead of the launch of space mission Principia in London.
European Space Agency Astronaut Tim Peake is the first publicly funded Briton in Space.
The value of the space sector in the UK has grown from £6.5 billion in 2007 to £11.8 billion in 2014. It currently employs nearly 35,000 skilled workers, with current government ambitions for the sector to grow to £40 billion by 2030 and a further 100,000 jobs.
Ben Pruchnie/Getty Images
Commission President Jean-Claude Juncker jokes with a Member of the European Parliament ahead of a debate on the future of the Economic and Monetary Union at the European Parliament in Strasbourg, France, December 15, 2015
REUTERS/Vincent Kessler
A robot arm, developed by Nachi Robotic Systems was on show at the International Robot Exhibition in Tokyo on Wednesday December 3. The Bank of England recently published research that 15 million UK jobs could be at risk of automation in the coming decades.
REUTERS/Thomas Peter
Elizabeth Holmes is the only woman that has made it on the Forbes magazine “America’s richest entrepreneurs under 40” list. Elizabeth Holmes who founded the blood-testing company Theranos came sixth with $4.5 billion (£2.9 billion). Facebook’s Mark Zuckerberg topped the ranking with $47.1 billion.
Kimberly White/Getty Images for Breakthrough Prize
Peppa set out to hog the market - The film and TV distribution company Entertainment One said it was on course to double merchandise sales for the pre-school favourite Peppa Pig to $2bn (£1.3bn) by 2020. Sales of Peppa toys will begin in China next year, following the launch of the TV show there. E1's underlying annual profits climbed by 42 per cent to £52m, on sales up 2 per cent at £337m.
Rob Stothard/Getty Images)
The Eiffel Tower illuminated with the French national colors in tribute to the victims of the November 13, 2015 Paris terror attacks. Tourism and travel stocks fell on Monday in the wake of Friday’s jihadist attacks in Paris – as a leading European policymaker warned that the killings could compound the region’s economic woes.
AFP PHOTO / BERTRAND GUAY
A model holds a 12.03-carat blue diamond during a press preview by auction house Sotheby's in Geneva on November 4, 2015. A 12.03-carat blue diamond could fetch a record $55 million (47 million Euros) when it goes under the hammer by Sotheby's on November 11 in Geneva. Categorised as a fancy vivid blue diamond, the Blue Moon, discovered in South Africa in January last year, is the largest cushion-shaped stone in that category to ever appear at auction
FABRICE COFFRINI/AFP/Getty Images
Burberry shares were down 12 per cent after it missed forecasts for sales in the first half of 2015 as Chinese customers cut back on luxury goods.
Polaroid's owner C&A is suing Go Pro over its Hero4 Session camera, claiming the ice-cube shaped device is a rip-off of the Polariod Cube camera and infringes its patent. Shares in Go Pro, which denied the announcement, fell to an all-time low.
Alamy
In the aftermath of the Volkswagen emissions scandal BMW shares have fallen by more than 5 per cent after claims one of its models exceeded European emissions limits by more than 11 times.
DPA/Getty Images
The coffee chain will provide an interest-free loan to pay a rental deposit that should be repaid within 12 months
Reed Hastings, founder and CEO of Netflix has said that companies greatly underestimate the importance of reference checks when hiring
YouTube/Screen shot/KPCB
VW CEO Martin Winterkorn ousted over diesel emissions that could cause thousands of premature deaths
Groupon has cut 10% of its workforce and closed its operations in 7 countries. When it went public in 2011 it was valued at $12.8bn
2011 Getty Images
Britain's Chancellor George Osborne has urged closer business ties with China when he visited Shanghai, the country's commercial hub, on Tuesday. He declared that the UK and China will "stick together", despite stock market turmoil and faltering economic growth in the world's second-largest economy.
Getty
Manchester United's absence from the Champions League hurt more than the fans' pride last year - it also dented the bottom line. Revenues at the New Uork listed club dipped 8.8 per cent to £395.2m in the year to June, triggering a £1.2 million loss after broadcasting and sponsorship deals dried up. The club said it was now looking to raise $400m from a share issue.
2015 Manchester United FC
Production of the next Star Wars movie has brought an economic impact of some £150 million to Britain, according to company accounts. The seventh movie in the series, The Force Awakens, will be released in December.
The Net-a-Porter founder Natalie Massenet decided to quit the online fashion retailer during "a summer of reflection" that included a spectacular 50th birthday party on the Almalfi coast.
Copyright (c) 2015 Rex Features. No use without permission.
The chief executive of Yahoo, Marissa Mayer, said that she was expecting twin girls in December. She said she would "approach the pregnancy and delivery the same way as I did with my son three years ago, taking limited time away and working throughout". In 2012, she took two weeks off when her first child was born.
2014 Getty Images
Warren Buffett, the world’s third richest person, lost $3.6bn in last week’s market slump
Getty
9. Netplay TV calls for shares suspension as it confirms it has held discussions with the board of Sportech in relation to a potential acquisition of the football pools business.
9. Netplay TV calls for shares suspension as it confirms it has held discussions with the board of Sportech in relation to a potential acquisition of the football pools business.
10. There’s another indication UK interest rates are unlikely to move higher in the future, according to the Daily Telegraph after it has interviewed Martin Weale, a member of the Bank of England's Monetary Policy Committee, which sets interest rates. “The factors pushing down on inflation have become a bit more prolonged,” Weale told the Telegraph.
10. There’s another indication UK interest rates are unlikely to move higher in the future, according to the Daily Telegraph after it has interviewed Martin Weale, a member of the Bank of England's Monetary Policy Committee, which sets interest rates. “The factors pushing down on inflation have become a bit more prolonged,” Weale told the Telegraph.
