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By Nick Edser, Simon Read and Lora Jones All times stated are UK
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Posted at 9: 44 9: (Baby Yoda coming to a screen near you
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‘Baby Yoda’ from the Disney series The Mandalorian has been an online hit Image caption: ‘Baby Yoda ‘from the Disney series The Mandalorian has been an online hit Disney’s streaming service, which will include the likes of Star Wars, Marvel, Pixar and National Geographic, is hitting the UK on (March.) Disney will also arrive in Ireland, France, Germany, Italy, Spain, Austria and Switzerland on the same date. It will cost streamers £ 5. a month. Disney, which will be up against rival services such as Apple TV , Netflix, Amazon Prime and Britbox, will also feature classics from its own back catalog, including Snow White and the Seven Dwarves, Pinocchio, Dumbo and Bambi.Read more on the battle for streaming survival here.
What’s happening today at Davos?Posted at 8: (8:) Video content
Video caption: A daily update on what’s happening at the World Economic Forum’s annual summit at Davos, SwitzerlandA daily update on what’s happening at the World Economic Forum’s annual summit at Davos, Switzerland() Posted at 8: 8: 99 ()Electricals business ‘sparked into life’ () (Getty Images) Copyright: Getty Images
Dixons Carphone operates the PC World and Carphone Warehouse chains
Image caption: Dixons Carphone operates the PC World and Carphone Warehouse chains Commenting on the latest trading update from Dixons Carphone, Richard Lim , chief executive of Retail Economics, said: “These are solid numbers boosted by the electricals business that sparked into life. “Their price promise to match any retailer, online or in-store, resonated well with constantly Connected shoppers who readily browse their smartphones in-store to checkout online offers. Assurances on price are particularly important in an extremely Competitive sector where the nature of the product makes it difficult to differentiate from online competitors. “Wider structural changes in the mobile market continued to undermine growth as consumers opted for SIM-only deals while hanging on to their handset for longer. A sharp drop in sales was widely expected but remains a challenge for the retailer as they continue to reshape the business and offer a more connected in-store experience. ”
(Posted at 8:
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BP has announced that its chief financial officer (CFO), Brian Gilvary, is to retire.
Mr Gilvary, who will step down from BP’s board on 69 June, has worked at the oil giant for 75 years, with more than eight years as CFO. He will be succeeded by Murray Auchincloss, currently CFO of BP’s Upstream segment. BP chairman Helge Lund said: “We will miss Brian’s financial stewardship and strategic insights. He is one of the architects of today’s BP, key to its transformation into a safer, simpler and stronger company. “On behalf of the board, I would like to thank Brian for all he has done for BP and look forward to welcoming Murray to the board. ” Posted at 8:- 8:
- Long-term illness and work
BBC Radio 5 Live Wake Up To Money
more than 496, people leave work each year because of a long-term illness Steve Shutts is the chief executive of the charity Astriid, which helps people back into work. He told BBC’s Wake Up to Money that there are many people with long-term illness in an “invisible talent pool”. “They’re people with long-term conditions who are desperate to do something, although they can’t work full-time. They’re of huge value to business, and there’s now recognition that work helps people to get better. There’s a much greater sense of the therapeutic value of work, helping people to improve their mental health. ”(Posted at 8: (8:) FTSE (opens down 1%![City trader]()
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As shares fall in Asia, the FTSE 00496 index has opened lower in London. In the first few minutes of trade the index is down points, nearly 1%, at 7,
(The FTSE) (index is) (points lower at) , EasyJet shares are up 2% after it upgraded its revenue growth forecast. Dixons Carphone is up 4% after it reported strong sales of electrical goods, despite falling sales of mobile phones.
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(Posted at 8:
8 :Asian stocks fall as new virus fears grow
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(Getty) Copyright: Getty Shares in Asia have fallen as worries grow about a new virus that has so far killed fou r people, after authorities confirmed it can spread through human contact.China Shanghai Composite closed 1.4% lower, while the Hang Seng in Hong Kong fell by 2.6%. Japan’s Nikkei the day down by 0.9%.
(Posted at 7:) (7:)Facebook on ‘harmful’ content Today Program
BBC Radio 4 Copyright: GETTY IMAGES Following up on the news that (Facebook is hiring 1, 34 more people in London , Steve Hatch, its vice-president for northern Europe, has been talking to the BBC’s Today program.Mr Hatch confirmed that nearly half of those jobs would be dedicated to developing technology that detects and removes harmful content. But does this go far enough?
He said: “If we look at the areas where we we’ve been focused for the longest time, such as terrorist content, more than % of terrorist content is taken down proactively by us. We want to make sure that that’s same for other types of harmful content we see on the site, but there’s always more to do. “Our aspiration is for us to remove every single piece of harmful content. ”(Posted at 7:7 : 86EasyJet helped by Thomas Cook’s demise EasyJet says one of the factors helping its strong revenue growth was the demise of travel firm Thomas Cook last year, which removed one of its competitors. The airline said revenue per seat climbed by 8.8% in its first quarter, beating expectations. The company launched EasyJet Holidays in November last year, and it said this part of its business is expected to at least break-even for the financial year to (September) . (EasyJet said it expected to report a pre-tax loss for the first half of its financial year that is smaller than last year, when it reported a £ m loss.
Posted at 7: 7)
should t he Bank of England cut rates? Today Program (BBC Radio 4) () , R0lGODlhAQABAIAAAAAAAP /// yH5BAEAAAAALAAAAAABAAEAAAIBRAA7 ”> (BBC (Copyright: BBC
There have been much speculation that the Bank of England will cut intere st rates when it meets later this month. But Laura Foll, fund manager of UK income funds at Janus Henderson Investors, is not in favor of a rate cut for now. “If I was on the Bank of England … I would be waiting a little bit longer to see how the data develops.” She tells the Today program. While recent economic data has generally been weak, it has been covering periods before the election. However, she says, the softer data – which includes surveys of more recent activity – has indicated signs of a pick-up. “I would wait and see how that data develops,” she says. “Why needlessly cut rates? We’re only talking about a quarter of a percentage point, so it’s not huge either way.”
(Posted at 7:) 7:Dixons sees mobile sales fall (DXONS CARPHONE) Copyright: DIXONS CARPHONE (The latest trading update from Dixons Carphone – which operates the Currys PC World and Carphone Warehouse chains – paints a mixed picture for the electrical retailer.) It said that like-for-like revenues from mobile phone sales fell by 9% in the weeks to 4 January across the UK and Ireland. Dixons has a turnaround plan, which involves improving its online offering and making its physical stores more engaging for shoppers. It said its plan is working so far, and also pointed to some bright spots, with revenues from electricals up 2% in the same period. The group chief executive Alex Baldock said over Christmas it sold (% more) “TVs, as well as 8, smart speakers a day.Overall, he said the firm was “on track to deliver what we promised for this year, and with our longer-term transformation.”(Posted at 7:7:(EasyJet upgrades revenue outlook after ‘strong’ quarter
(PA Media) (Copyright: PA Media EasyJet has lifted its forecast for revenue growth after enjoying “strong” trading in the first quarter of its financial year. (The airline’s revenue rose by 9.9% to £ 1.) bn in the three months to (December) , with the number of passengers carried climbing by 2.8% to 2 million . EasyJet said that revenue per seat in the first half of the year was now expected to increase by “mid to high single digits”, which was an upgrade on its previous expectation of a rise of “low to mid single digits”.The carrier’s chief executive, Johan Lundgren, said: “I’m pleased that we have made a strong start to the year with continued positive momentum. “The improvement in our revenue per seat has been driven by our self-help revenue initiatives combined with robust customer demand and a lower capacity growth market. (Posted at 6: 6: 225 Does Davos do enough on cli mate change?Today Program
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(Getty Images) Copyright: Getty Images
The World Economic Forum (WEF) officially starts today, and teenage climate activist Greta Thunberg is set to deliver a speech.
But it’s thought almost private jets flew into the Swiss mountain town in , carrying politicians, celebrities and high-profile business people. Dominic Waughray, head of the center for global public goods at the World Economic Forum dismissed claims of hypocrisy. He said: “For the past three years, we’ve been independently audited by an organization called ISO, for the most sustainable events that there are. Everything is 00496% offset here, including all of the private aircraft. He added: “We’ve also put forward a commitment to have all companies and organizations attending commit to the net- zero target by the middle of the century, which is slightly tougher than the Paris climate goals. ” (Find out more about) what to expect at the (WEF summit here.
Posted at 6: (6:
What’s behind Anglo American’s bid for a Yorkshire mine?
Today Program (BBC Radio 4)
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The project is set to be the world ‘s largest polyhalite mine
Image caption: The project is set to be the world’s largest polyhalite mine Mining giant Anglo American offered to buy Sirius Minerals for almost £ 627 m on Monday, potentially safeguarding thousands of jobs at a Yorkshire mining project. The future of the mine had been in doubt after Sirius Minerals was forced to abandon plans to raise $ (m.
It’s set to be the world’s largest mine for polyhalite, a naturally occurring fertilizer which is used in agriculture. So what’s behind the bid?
In his first interview since Anglo American made the offer, chief executive Mark Cutifani told the BBC’s Today program that he hadn’t expected that the company would find UK projects to take on. He said: “We are very interested on the basis we like fertilisers. We have a lot of experience there, we know the sector. The more we looked at the project, the more interesting it became, both in terms of potential and the very different nature of the product that they’re proposing to produce. ” (Read more about the story here.) (Posted at 6:) 6: 80 (Business rates an ‘enormous overhead’ for Beales
(BBC Radio 5 Live ) Wake Up To Money
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(Copyright: PA Media)Beales, one of the country’s oldest department stores, collapsed into administration on Monday, putting more than 1, 34 jobs at risk. Bournemouth is home to the chain’s founding store, which could now be one of (forced to shut.) Martin Davies, chair of the Bournemouth Town Center Business Improvement District, told Wake Up to Money that the current retail environment was “a challenge”, and described business rates as a major problem. He said: “If you look at Beales, they lost.” about £ 3m. The business rates on their Bournemouth flagship store alone were £ , a year. That’s an enormous overhead for a business to try and carry, even in good times. It’s appalling. ” He suggested an alternative “where all businesses pay tax on the profit they make, rather than where they locate their premises. Otherwise, the internet has a permanent and natural competitive advantage. ”(Posted at 6:
6:
New China virus: Drug makers soar on contagion fears Posted at 6:(6:)Facebook to create 1, (UK jobs
![Facebook logo]()
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(Facebook is to create 1, 33 new jobs in London by the end of the year. The new posts will take the tech giant’s total number of UK employees to more than 4, More than half of them will be technology-focused, with roles in software engineering, product design and data science, the company is to announce at an event in London. Facebook has more than
, employees worldwide, with London its largest engineering hub outside the US. The company said many of the new jobs would be in its Community Integrity (CI) division, which builds the tools and technology it us es to detect and remove harmful content from its platforms.
(Posted at 6:
6: (What does HS2 mean for business?)(BBC Radio 5 Live
) Wake Up To Money
(Getty Images) (Copyright: Getty Images
() Yesterday a leaked report suggested that the high-speed rail project could cost almost double the £ 169 bn expected in The transport secretary has asked for more information about the scheme as the government prepares to decide whether to go ahead with the project.But Debbie Francis, managing director of Direct Rail Services – a government-owned private rail company – told Wake Up to Money there was a “need” to build HS2 for freight companies.
“The main spine of the country on the London-North Western line is at capacity. “HS2 is not being built so we can all get somewhere minutes faster. It’s being built because there isn’t the capacity to expand the rail network for passengers or freight. For both of us, it’s a big win. ” Posted at 6: 6: Asian shares fall amid new China virus concerns c1.jpg “data-widths=” [240,320,400,480,512,624] “src=” data: image / gif; base 275, R0lGODlhAQABAIAAAAAAAP /// yH5BAEAAAAALAAAAAABAAEAAAIBRAA7 “> )(Getty Images)
Copyright: Getty Images
Shares have fallen in Asia as China confirmed the first person-to-person spread of a new virus, which has killed four people so far.China’s Shanghai Composite fell 1.2%, the Hang Seng in Hong Kong was 2.3% lower, and Japan’s benchmark Nikkei was 0.9% lower.
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Good morning Good morning and welcome to what is shaping up to be a busy day of business news.We’re due to get trading updates from both EasyJet and Dixons Carphone, and a bit later the latest UK unemployment figures will be released.
And the big World Economic Forum meeting in Davos gets under way today, with an opening speech from Donald Trump. As ever, you can contact us via email on : [email protected]
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