Nissan ￡60m in doubt after investment U-turn, Ikea to trial furniture rental, and more top news
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Nissan will have to reapply for ￡60 million in state aid after U-turning on its promise to build the X-Trail in Sunderland. In a letter dated 2016 and released yesterday, the government offered the money to the Japanese carmaker if it built the car in the UK after Brexit — a move business secretary Greg Clark says would have created 741 jobs. Nissan revealed earlier this week that the next-generation X-Trail for the European market will instead be produced in Japan.
Ikea is to trial renting out furniture in a bid to build a more environmentally friendly business. The world’s largest furniture retailer will test leasing office furniture to business customers in Switzerland, however kitchens could soon be up for rent too. It comes as Ikea prepares to open its first outlet in London in 14 years. Heralded by the brand as its most sustainable store yet, the Greenwich branch will include a “learning lab” where customers are taught how to refurbish or repurpose old furnishings.
Ryanair has posted its first quarterly loss since March 2014. Despite reporting a 9% increase in revenue to ￡1.34bn in the last three months of 2018, the low-cost carrier says it had a “disappointing” loss of ￡17.2m, which it blames on an “excess winter capacity in Europe”. The airline announced chairman David Bonderman will step down in 2020 while CEO Michael O’Leary will oversee a new group structure “not dissimilar to that of IAG”.
Slack Technologies is officially gearing up for a public stock listing. The messaging service provider, which has more than 10 million daily active users, says it confidentially submitted a draft registration statement with the Securities and Exchange Commission. The public listing will occur after the SEC completes its review process. Slack is among the most-anticipated IPOs of 2019, with other US powerhouses like Uber, Lyft, Pinterest and Airbnb expected to make their debuts. Slack was last valued at ￡5.4bn in 2018, reports Business Insider.
Cadbury has dropped the trademark bid for its distinctive purple wrapper. Cadbury has given up its long-running battle to protect the particular purple, known as Pantone 2865c, it uses to wrap its chocolate after losing an appeal last month. Cadbury won a case in 2012 to prevent other chocolatiers using the colour. But in 2013 Nestle challenged the trademark and won an appeal. Cadbury now faces rival brands using its purple tone.
Idea of the Day: Ambition is the desire to achieve, while aspiration is a yearning to grow, says Capital One’s Katya Andresen.
“I've been better served by aspiration… When I've been aspirational, I've focused on whom I might become.”
What's your take on today’s stories? Share your thoughts in the comments.
— Natalie MacDonald and Capucine Yeomans
Sales Manager @ Engeniare
6 年Lets just buy British again .... once we were the greatest inventors let’s get out of our lazy zone and get inventive again and when everyone comes a knocking for aid because a mine has fallen in or a country is at the brink of mass destruction let us to take our business elsewhere. ?? that’s something the British would never do turn their backs of something that needs help we’ve been digging Europe out of holes since 1975 ??very sad ??
Senior leader with expertise in billing operations, revenue assurance and financial transformations. Proven ability to scale, optimize cost and grow revenues, delivering multimillion-pound efficiencies.
6 年I keep reading this but in the last QTR UK growth was 3x EU growth. I suppose it makes sense spending would slow, but it feels a bit self-fulfilling and overblown?