billionaire-ambani-risks-jail-over-missed-ericsson-payments

Billionaire Ambani risks jail over missed Ericsson payments

Image copyright Getty Images Indian billionaire businessman Anil Ambani is facing a prison sentence after a deal between his cash-strapped firm Reliance Communications (RCom) and telecoms giant Ericsson collapsed.Ericsson is owed 5.5bn rupees (£59.3m) by RCom under the terms of an agreement to manage and operate its network. RCom failed to comply with India's Supreme…
laura-ashley-profit-warning-as-sales-slump

Laura Ashley profit warning as sales slump

Image copyright Getty Images Laura Ashley has warned investors that it will post profits lower than it had forecast for the financial year.It also said it made zero profit for the last six months of 2018 as sales fell 4.2%."Trading conditions have been difficult," the company said. While fashion sales increased, furniture and decorations fell.…
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Sainsbury's shares dive after Asda merger put in doubt

Image copyright Alamy Sainsbury's shares have dived 15% after the UK's competition watchdog cast doubt on its plan to buy Asda. Customers could see higher prices and less choice if the two grocers combined, the Competition and Markets Authority (CMA) said.It said it could block the deal or force the sale of a large number…
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'Sustained' drone attack closed Gatwick, airport says

Image copyright Getty Images Sussex Police, the government and Gatwick airport say that the severe travel disruption last year was caused by a "sustained" drone attack.The situation caused disruption for tens of thousands of passengers. Gatwick's decision to close was taken after a risk assessment with police. The airport says there were well over 100…
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UBS fined €3.7bn in tax fraud case

Image copyright Getty Images Swiss banking giant UBS has been fined €3.7bn (£3.2bn; $4.2bn) in a French tax fraud case.A court in Paris found that the bank had illegally helped French clients hide billions of euros from French tax authorities between 2004 and 2012.UBS said it had consistently contested any criminal wrongdoing and would appeal…
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Rail firms say pre-paid ticket issue 'now resolved'

Image copyright Getty Images Several rail firms reported problems with pre-paid ticket collection from machines across the country on Tuesday morning.Greater Anglia, Thameslink, Stansted Express, Southern, Southeastern, and ScotRail all confirmed they were affected by the issue.The Rail Delivery Group, representing train operators, said the problem was fixed at around 10:00 GMT.Customers were advised to…