Kanye West has justfiled a $10m (£7.6m) lawsuit against Lloyd’s of London insurers in a dispute over 21 cancelled tour dates last year. The pop star and his tour company, Very Good Touring, claim insurers may not pay out because the cancellations were as a result of a medical condition caused by marijuana use – something West […]
Category: News Wire
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DFS settles on £25m Sofology takeover
DFS, the UK’s biggest independent furniture retailer, will this week unveil a takeover of fast-growing rival Sofology just weeks after a profit warning sparked fresh fears of a slowdown in consumer spending. DFS, which has a market value of more than £450m, is close to agreeing the purchase of Sofology in a deal understood to […]
Tesla revenues double but losses also grow
Electric car-maker Tesla quarterly revenues have more than doubled helped by higher deliveries of its upmarket vehicles but its losses also grew. The company reported revenue of almost $2.8bn (£2.1) in the three months to 30 June, up from $1.3bn during the same period last year, reports The BBC. Losses increased to $336m, compared with […]
Apple hints iPhone 8 won’t be delayed as company’s shares hit record high
Shares in the world’s most valuable company went up close to 6 per cent in after-hours trading following the news, adding $40bn to Apple’s current value. Apple shares soared to an all-time high on Tuesday afternoon after the tech company announced it had sold 41m iPhones in the last three months. Apple also appeared to […]
Hike interest rates, says former Bank of England deputy
The Bank of England should raise interest rates on Thursday and reverse part of the emergency stimulus deployed after the Brexit vote, according to a former deputy governor. Sir John Gieve said there was a “very strong case” for raising rates because the economic slump predicted in the wake of the EU referendum result had not materialised, […]
Economic fightback will trigger rates rise
The UK economy will bounce back in 2018 – prompting the Bank of England to raise interest rates to a more normal level before Brexit, economists believe.
Apple sales boosted by apps and music
Technology giant Apple said newer lines of business such as Apple Pay, the App Store and Apple Music helped to drive growth in its third quarter.
A million women £32 a week worse off thanks to pension age changes
IFS says increased UK state pension age is lifting earnings from employment but only partially offsetting reduced incomes from other benefits.
Three set for multibillion-pound network overhaul in race for 5G
The mobile operator Three is poised to begin a multibillion-pound overhaul of its network as demand for data skyrockets and it prepares for the introduction of 5G technology.
Third of “late” millennials could not survive after a month without earning
A third of “late” millennials could financially survive for just a month or less if they lost their job, a new report claims.
Millions of people are ‘stuck’ in the wrong job
Millions of workers are “stuck” in jobs where their talents are not being used, a study has found.
British Gas hikes electricity prices by 12.5%
Centrica keeps gas bills unchanged but says first electricity rise since 2013 means average annual dual fuel bills will increase by 7.3 per cent to £1,120.
Rolls-Royce beats City expectations as turnaround takes off
Rolls-Royce chief executive Warren East has delivered a forecast-beating performance with the company’s interim results as he continues to deliver a turnaround of the blue-chip engineering group.
Retailers back increase in contactless payment limit as transactions jump
Retailers would back raising the contactless spending limit as the ultra-fast system for processing payments has pushed up transactions.
Bank of England strike to go ahead
A three-day strike by Bank of England support staff will go ahead after talks at the conciliation service Acas ended without agreement, the Unite union said.