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The 10 biggest business stories on Thursday December 10
The 10 biggest business stories on Thursday December 10
(1 day later)
1. The Bank of England will announce its latest interest rate decision at 12.00 pm on Thursday. Analysts expect the bank to leaves rates unchanged.
1. The Bank of England will announce its latest interest rate decision at 12.00 pm on Thursday. Analysts expect the bank to leaves rates unchanged.
2. Zara owner Inditex reported sales growth at the fastest pace in three years as Spanish consumption shows signs of recovering after years of austerity. Net income rose 20 per cent to €2.02 billion euros ($2.2 billion) in the nine months,
2. Zara owner Inditex reported sales growth at the fastest pace in three years as Spanish consumption shows signs of recovering after years of austerity. Net income rose 20 per cent to €2.02 billion euros ($2.2 billion) in the nine months,
3. Mining and trading company Glencore on Thursday increased its net debt reduction target and deepened its capital spending cuts as it fights for survival in the face of low commodity prices.
3. Mining and trading company Glencore on Thursday increased its net debt reduction target and deepened its capital spending cuts as it fights for survival in the face of low commodity prices.
4. Tobacco giants Philip Morris International, British American Tobacco, Imperial Tobacco and Japan Tobacco International are to begin a legal challenge against the UK government’s bid to remove all branding from cigarette packages. The regulations will ban companies from using any logos or branding on packets of tobacco products from May 2016.
4. Tobacco giants Philip Morris International, British American Tobacco, Imperial Tobacco and Japan Tobacco International are to begin a legal challenge against the UK government’s bid to remove all branding from cigarette packages. The regulations will ban companies from using any logos or branding on packets of tobacco products from May 2016.
5. Marissa Mayer is paying Yahoo's editor-in-chief Martha Nelson $5 million a year, Politico reports.
5. Marissa Mayer is paying Yahoo's editor-in-chief Martha Nelson $5 million a year, Politico reports.
6. The recently retired have overtaken the under-45s to enjoy a larger share of the UK's wealth, according to research by the Resolution Foundation.
6. The recently retired have overtaken the under-45s to enjoy a larger share of the UK's wealth, according to research by the Resolution Foundation.
7. Media industry regulator Ofcom has released a report forecasting that 70 per cent of UK adults will use a free catch-up service like iPlayer or ITV Hub this Christmas. That is a higher proportion than any other developed nation.
7. Media industry regulator Ofcom has released a report forecasting that 70 per cent of UK adults will use a free catch-up service like iPlayer or ITV Hub this Christmas. That is a higher proportion than any other developed nation.
8. A female startup founder in London has revealed that she’s been using mobile dating app Tinder to recruit male chefs, Business Insider reports.
8. A female startup founder in London has revealed that she’s been using mobile dating app Tinder to recruit male chefs, Business Insider reports.
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. Online grocer Ocado announced a 15 per cent rise in sales in the fourth quarter to £381.6 million. However the order average size fell by 2.3 per cent to £107.16. CEO Tim Steiner put this down to Ocado “following market moves in pricing”.
9. Online grocer Ocado announced a 15 per cent rise in sales in the fourth quarter to £381.6 million. However the order average size fell by 2.3 per cent to £107.16. CEO Tim Steiner put this down to Ocado “following market moves in pricing”.
10. Wal-Mart Stores said it would launch Walmart Pay, becoming the first US retailer to offer its own payment feature to expand consumer payment options and increase the speed of checkouts. Walmart Pay will be introduced in select US stores on Thursday.
10. Wal-Mart Stores said it would launch Walmart Pay, becoming the first US retailer to offer its own payment feature to expand consumer payment options and increase the speed of checkouts. Walmart Pay will be introduced in select US stores on Thursday.
