PSA owners of Peugeot and Citroen cars has struck a deal of €2.2bn (£1.9bn) to buy General Motors’ European unit including Vauxhall. Loss-making GM Europe has UK factories at Ellesmere Port and Luton which employs 4, 500 people. With GM’s Opel and Vauxhall operations, PSA Group jumps to become the second largest carmaker in…
Business journalist William Cohan asks if the regulatory body go too far in response to the 2008 financial crisis on the US financial sector, especially the Dodd-Frank Act which limited Wall Street’s ability to serve its customers. Enhanced capital requirements and compliance burdens are crippling the supply of credit to consumers and businesses and thwarting…
Airbnb acquired Luxury retreats, a Canadian company that specialises in high-end villas and also was in talks with global online travel agents like Trivago, the German hotel search site majority-owned by Expedia, about including Airbnb homes in their search listings. Expedia, had begun a closer integration with Home Away, the online holiday rental market-place it…
Facebook Snapchat $ $ Market Capitalisation 395bn 31bn Funds Raised at IPO 166bn 3.4bn Daily Active users 1.3bn 160m Revenue 2016 27.6bn 404m Profit 2016 10.2bn -515m Snapchat investor who have given a market value of more than $30bn hope it can effectively compete with Facebook on online advertising. Evan Spiegel CEO of Snapchat…
A unit of Bitcoin the digital currency has exceeded the value of an ounce of gold for the first time. Bitcoin closed at $1,268 on Thursday while an ounce of gold stood at $1,233. The current high is due to the surging demand in China, where authorities warn it is used to channel money out…
Sir Philip Green agreed with the Pension regulator to help fill the failed retailer’s pension black hole, with a £363m payment to the BHS pension scheme. Under the deal with the Pensions Regulator, former BJS workers will get the same starting pension that they were originally promised, without the protection against inflation. Business Committee chairman Ian Wright…
The bronze sword, awarded to American-born Captain William Rutherford, of the 74-gun HMS Swiftsure for his heroics and his role in helping the British to Victory at the 1805 Battle of Trafalgar goes on the market for £200, 000. The 100 Guinea Sword only 23 of them were awarded to captains from the world’s most…
US private rocket company SpaceX has announced that two private citizens have paid an undisclosed sum, to be sent around the Moon, for the 2018 planned mission. SpaceX who manufactures designs and launches advanced rockets and spacecraft, founded in 2002 to revolutionise space technology, SpaceX CEO Elon Musk said the tourist “have already paid a…
President Donald Trump is a businessman still not a politician. He and his organisation own more than 3, 600 web addresses, according to the research firm DomainIQ, including donladtrumpsucks.com ; voteagainsttrump.com ; no2trump.com ; trumpmustgo.com which all sounds like Trump bashing websites. There are 274 domains alone featuring the name of Trump’s daughter Ivanka. It…
A chartered light plane Twin engine Beechcraft B200 carrying five people has crashed into a Melbourne shopping complex. At 9:00 am local time on Tuesday 21st February 2017. The plane appeared to have had “catastrophic engine failure” on take off from Melbourne’s small Essendon Airport. All five died Victoria’s Police minister Lisa Neville told the…