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The 10 biggest business stories on Friday October 30

Europe reports its inflation and unemployment data; ; Airbus Group Q3 core profit rises; RBS profits hit by restructuring and legal charges

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The Independent Online
Airbus managed to secure the top sales spot thanks to a surge in orders in December Getty

1.    Chancellor George Osborne will launch the National Infrastructure Commission later to oversee £100 billion of spending on UK projects.

2.    Europe reports its inflation and unemployment data at 10am today. Eurozone consumer prices are expected to remain unchanged after falling 0.1 per cent in September, while analysts will be hoping the long-term unemployment problem doesn’t appear to be permanent.

3.    Royal Bank of Scotland Group has said legal costs could be higher than expected after it recorded a third quarter operating loss of £134 million, down from a profit of £1.1 billion the year before.

4.    The European Union agreed to a preliminary deal that gives the 28 regulators members more power to break up the big banks The Financial Times reports. 

5.    US and Swiss authorities are investigating Credit Suisse Group AG’s relationships with FIFA officials named in a May indictment, the bank said on Friday, Bloomberg reports.

6.     SAB Miller bidder AB InBev profits slump from $2.3 billion to $1.7 billion in third quarter.

7.    Airbus Group operating profit rose 12 per cent to a better than expected €921 million for the three months to September on revenues 6 per cent higher at €14 billion. It also plans to increase in production of the A320 to 60 planes a month from 2019.

8.    Linkedin raises its full year-forecast. The professional social networking site predicted an annual revenue of nearly $3 billion after posting $779.6 million in third-quarter revenue.

Business picture of the day

Business picture of the day

  • 1/6

    Amazon's new Seattle headquarters mimics a greenhouse, with 40,000 different plants aimed at boosting workers productivity

    REUTERS

  • 2/6

    Samsung heir Jay Y Lee was freed from jail on Monday. He was convicted for corruption and embezzlement with South Korea's former president in 2017.

  • 3/6

    The total number of electric buses in service is forecast to more than triple, from 386,000 last year to about 1.2 million in 2025, equal to about 47 per cent of the worldwide city bus fleet, according to a report from Bloomberg New Energy Finance

  • 4/6

    Aldi has removed thousands of kilos of vegetables after a customer complained that she had found part of a rat in one bag of frozen mixed greens. It came after Aldi customer Pat Batemen complained to the budget supermarket chain and was offered £30 compensation, a figure she said was later increased to £500.

  • 5/6

    Coronation Street is set to get its own Co-op supermarket and Costa Coffee branch in a landmark deal that will see shop fronts appearing on a show as product placements. Viewers of the ITV soap will see both stores open on the street this spring. Co-op's and Costa Coffee's facades will be seen on the show, alongside branded posters, bags and cups used by Coronation Street characters.

  • 6/6

    John Lewis, M&S, Next, Debenhams and Sainsbury’s are all yet to add their names to a list of brands binding themselves to Bangladesh’s latest laws on fire and building safety. The renewed agreement will see greater investment in health and safety checks come into effect this year as the original 2013 agreement is due to expire in May.

    REUTERS

9.    Martin Lewis the man behind the website MoneySavingExpert.com, which helps you to save money, just picked up a £19.2 million bonus linked to the sale of his website to price comparison websiteMoneysupermarket.com 3 years ago.

10.    Starbucks delivered a disappointing profit forecast for the holiday quarter. The world's biggest coffee chain‘s fiscal fourth-quarter net income rose 11 per cent to $652.5 million, matching estimates, on higher US same-store sales. But its Asia sales missed expectations and the company forecast lower-than-expected Christmas earnings, sending its share price down.

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