BT Europe boss Corrado Sciolla steps down following Italy accounting scandal January 27, 2017 BT's head of continental Europe, Corrado Sciolla, has stepped down from his role following the discovery of an accounting scandal at its Italian operation. Reuters reported the company as saying: "Corrado is leaving the business, this happened on his watch." Read more: BT hit by key cut by credit agency BT revealed earlier this week [...]
Uber is looking for a woman to fill its new chief operating officer position March 12, 2017 Uber is reportedly searching for a female executive to join the firm as its new chief operating officer and help rein in under-fire boss Travis Kalanick. The ride-hailing app announced a new position which could be viewed as either the best or worst job in tech last week after recent troubles pushed Kalanick to search for someone to keep the [...]
Volkswagen agrees to pay at least $1.2bn to US vehicle owners of big diesels February 1, 2017 Volkswagen has agreed to pay at least $1.2bn (£950m) in buybacks and compensation to owners of larger diesel engines affected by the firm's emissions scandal in the US. According to court documents filed late on Tuesday, VW has agreed to pay the total to fix or buy back nearly 80,000 polluting 3.0 litre diesel-engine vehicles, to [...]
Nokia has sued Apple in Europe, Asia, and the US for infringing on its technology patents December 22, 2016 Nokia announced today it had filed a new set of lawsuits against Apple in Asia, Europe and the US for violating 40 technology patent suits in 11 countries. The Finland-based technology company originally said it was suing the iPhone maker yesterday, for infringing on 32 technology patents. Shares in the company were down nearly five per cent [...]
Supreme Court president Lord Neuberger says judges will keep listening to European Court of Justice decisions post-Brexit March 29, 2017 The president of the Supreme Court today said he and his peers will likely carry on listening to the European Court of Justice’s decisions following Brexit. Lord Neuberger told the House of Lords Constitution Committee: “It would be quite inappropriate for us to be bound in any way by decisions of the Court of Justice [...]
Moody’s unable to tolerate BT’s weaker operating trading figures January 26, 2017 A leading ratings agency has cut the outlook of telecoms giant BT after revealing its patience had run out. On the eve of BT revealing its third quarter trading figures, Moody's changed the group's outlook from stable to negative. The news comes as another blow to the FTSE 100 firm after it revealed on Tuesday a £530m accounting [...]
Amazon is looking for shop space in London, according to reports February 5, 2017 Tech giant Amazon has reportedly started searching for shop space in central London as part of its move into the grocery market. Amazon first revealed its ambitions to open grocery stores last December under the banner "Amazon Go". In a video, Amazon said it was using technology to create a shop with no check outs. Customers would [...]
Deutsche Bank shares fall following restructuring revelation and fresh legal case fears March 6, 2017 Deutsche Bank shares fell over six per cent in early trading this morning after yesterday confirming plans to launch a €8bn (£6.9bn) rights issue and reports it is facing new legal action over foreign exchange trading practices. Shares in lender opened at €17.90, down from Friday's of €19.14. They have subsequently bounced back regained some lost ground, trading [...]
Bad line: Investors to sue BT over accounting slip-up that wiped billions off its market value February 5, 2017 BT could be hit by legal action from its shareholders following an accounting scandal that rocked the telecoms company last year. Law firm Quinn Emanuel Urquhart & Sullivan is mulling a potential lawsuit on behalf of institutional investors over the impact of the accounting scandal being worse than originally stated. The group announced writedowns of £145m in October [...]
Donald Trump has removed Iraq from the list of countries affected by his new travel ban March 6, 2017 Donald Trump has removed Iraq from the list of countries barred from entering the US in a new executive order. The US President signed a new order today in private after his original ban on travellers from certain countries caused mass confusion and protest and was eventually blocked in courts. The new order also clears up uncertainty around [...]