Walkers
For fans of the eponymous potato snacks, Gary Lineker’s dad-bod on Match of the Day was probably the closest you’ll be getting to “beach body ready” this summer, especially if you’ve been relying on Walker’s “spell and go” competition.
The Advertising Standards Authority (ASA) has banned the Walkers crisps “spell and go” competition after it was deemed “virtually impossible to win”.
The promotion invited participants to collect letters by posting codes from crisp packets to spell out the names of one of 26 possible destinations – all for the chance to win one of 20,000 holidays.
The ASA received more than 100 complaints. The number received by Ofcom for Match of the Day has yet to be released...
Less than 800 wins from an available 20,000. Downright misleading and disgusting @walkers_crisps #spellandgo
— Adam Banister (@b_ad85) August 17, 2016
And plenty of codes from multipack bags saying they had already been used... Which was basically impossible unless it was fixed #spellandgo
— Krissie (@_SparkleandPop) August 17, 2016
Admiral
Admiral Group plc (LON:ADM) shares have fallen more than 8% after the car insurer said low interest rates following the vote to leave the EU had weakened its capital strength, though it said its financial position remained strong.
Chief executive David Stevens said that its overseas businesses were "tantalisingly" close to profitability.
The group also reported a marked improvement in the performance of its UK price comparison business Confused.com, with a 70% rise pre-tax profits.
"The last six months have shown the enduring, and indeed increasing, strength of the UK business and has seen a step change upwards in growth from our developing international businesses,” said Stevens.
Cobham
British defence equipment supplier Cobham PLC (LON:COB) said it was parting ways with chief executive Bob Murphy, after a string of earnings blunders.
Cobham named David Lockwood, the current head of UK tech group Laird PLC, to replace him.
Balfour Beatty
Balfour Beatty (LON:BBY) has reinstated its dividend following an 18-month hiatus, after narrowing its losses in the first half of this year.
The group has spent the last 18 months trying to reverse the effect of loss-making contracts in the UK, Middle East and Asia.
As well as scrapping its dividend last year, Balfour withdrew a share buyback and reshuffled its pension fund payments in order to lift it out of the red.
“We have maintained a strong balance sheet and expect Balfour Beatty to make further solid and measurable progress. As a result we are able to reinstate the dividend as planned,” said Leo Quinn, chief executive.
Cisco
American multinational corporation technology group Cisco Systems (NASDAQ:CSCO) is planning to cut around a fifth of its worldwide workforce - around 14,000 jobs - as it moves away from hardware to focus on software and cloud technology.
Last November, the group opened new offices in the UK near London’s so-called Silicon Roundabout, after pledging to invest US$1bn in UK tech over the next few years.
The group has been investing in new products such as data analytics software and cloud-based tools for data centres in an attempt to offset the impact of sluggish telecoms spending.
Business must be great at Cisco $CSCO Wrong! 14,000 layoff...20% of entire workforce. https://t.co/pcGPXawub5
— Tony Sagami (@Tony_Sagami) August 17, 2016
Cisco laying off 14,000 employees? That's huge, even for them. 20% of workforce. https://t.co/x9KaPZWwoe
— Robert MacMillan (@bobbymacReports) August 17, 2016