Posts Categorized: Warren Fyfe

Dalian Wanda $9.3bn deal in ‘crazy’ restructuring

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Image copyright EPA Image caption Sunac will still buy 13 tourist projects, including three theme parks One of China’s biggest ever property deals is being restructured, less than a week after it was announced. Dalian Wanda had said it was selling 13 tourism projects – including three theme parks – and 77 hotels to developer [...]

Working parents face rising holiday childcare costs

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Image copyright Getty Images Working families in the UK face rising childcare costs and a scarcity of council run childcare provision this summer, a survey has suggested. The cost of holiday childcare has risen 4% since 2016 to an average of £125 per week, a Family and Childcare Trust report found. A separate survey estimated [...]

Sports Direct profits dive by nearly 60%

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Image copyright PA Profits at Sports Direct have plummeted nearly 60%, which the firm said was largely due to the weaker pound. Underlying pre-tax profit fell to £113.7m from £275.2m last year because of “currency movements and increased depreciation charges”. Chief executive Mike Ashley said it had now taken steps to “minimise the short-term impact [...]

Harley-Davidson forecasts more falling sales

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Image copyright Getty Images Shares in Harley-Davidson are down about 8% in New York after the motorcycle maker slashed its sales forecast for this year. The Milwaukee-based firm now expects to sell between 241,000 and 246,000 bikes this year, down from 262,221 last year. Demand has been dropping for years. A decade ago it was [...]

Software emissions fix for three million Mercedes diesels

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Image copyright Reuters Three million Mercedes-Benz owners in Europe will be offered a software fix for their diesel cars. Daimler, which owns the luxury car maker, has been under intense pressure from police and prosecutors. Authorities are investigating the possible manipulation of diesel exhaust emissions in passenger cars. A Daimler spokesman said the software fix, [...]

Lockheed Martin profits jump on higher F-35 jet sales

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Image copyright PA Increased sales of the F-35 fighter jet have helped Lockheed Martin, the biggest supplier of defence equipment to the US military, to report better-than-expected profits. The F-35, formerly known as the Joint Strike Fighter, is being built by the US defence giant in partnership with other countries, including the UK. Lockheed Martin [...]

Weak pound sees surge in tourists visiting UK

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Image copyright Getty Images Image caption The delights of Wales proved a particular attraction to visitors The weakness of sterling was behind a surge in the number of tourists visiting the UK in the first three months of 2017, according to the Office for National Statistics (ONS). The number of holidaymakers coming to the UK [...]

Rail passenger satisfaction ‘little changed in a decade’

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Image copyright Getty Images Train operators handle passenger complaints and delays almost as badly as they did a decade ago, according to research from consumer group Which?. It also found punctuality levels on Britain’s railways were at their worst level in 10 years. The group said passengers were being “failed” and urged the government to [...]

Travel tax plan wins £250,000 Wolfson Economics Prize

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Image copyright Wolfson Prize A 27-year-old transport planner has won the £250,000 Wolfson Economics Prize for a plan to improve Britain’s roads. Gergely Raccuja proposed a distance-based charge to replace fuel duty and vehicle excise duty, with the money raised being used to boost investment in roads and improve air quality. He also said he [...]

UK unemployment drops to 1.49m

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Image copyright PA UK unemployment fell by 64,000 to 1.49 million in the three months to May, official figures show. It meant the unemployment rate fell by 0.2% to its lowest since 1975, at 4.5%, the Office for National Statistics (ONS) added. But wage increases continued to fall further behind inflation. Excluding bonuses, earnings rose [...]