Sun, 16th Sep 2018
A planned £3 billion merger between SSE and NPower has been given the provisional go-ahead by the competition watchdog. The merger would create a new energy giant that has 11.5 million customers.
Meanwhile, WHSmith has published a trading update which says that it is on target to meet its full-year expectations, thanks to another strong performance in its travel division, which includes stores in airports and train stations.
Apple has acquired the augmented reality start-up Akonia Holographics, a company which has been running for six years, and specializes in making lenses for augmented reality glasses. This has led to speculation that Apple has ambitions to make use of AR technology, something which has not yet found a ‘killer app’ in the consumer space. Apple has refused to comment on what it plans to do with the technology, and whether wearable AR tech is going to be on the horizon any time soon.
Meanwhile, domestic demand for cars has continued to fall. The number of models built for the UK fell by 35 percent over the last month, with just 121,051 cars leaving production lines over the month of July, down 15,000 from July 2017. Of those, 19,414 were intended to be sold in the UK, down from 29,872 in the same period last year.
Dairy company Arla Foods has proposed paying out its entire profit from 2018 to farmers that have been hit with difficulties thanks to the drought in Europe. Arla says that in light of its strong balance sheet, and the tough financial situation that the company is in, it is in the best interest of the firm to give the profit back to the farmers. The company’s annual profit is expected to be just over £250 million.