UK drivers are lining up to kick German car-maker VW while it’s down.
A Which? survey showed 9 out of 10 Brits believe they are owed compensation from the firm, in the wake of the emissions software scandal.
More than 2,000 UK motorists, who bought diesel cars between 2008 and 2015, were asked about compensation and some 90% wanted payment, with 96% saying the efficiency of the car factored into their decision to buy it.
Earlier this week, Paul Willis, VW’s UK boss, said it was “premature” to talk about compensation as he admitted there is a chance that not all affected cars would be recalled by the end of next year.
Another company under the cosh today was TV streaming giant Netflix, which blamed weaker-than-expected growth in US subscribers in the third quarter on the transfer in America to the chip and pin system of payment.
Netflix added 880,000 US members in the three months through September, below analysts’ estimates of 1.25mln and its own projection of 1.15mln.
It also reported that profits halved in the quarter as it spent more on international expansion and improving content.
It didn’t get any better in the US, as the world's largest retailer Walmart (NYSE:WMT) shocked investors by predicting lower annual profits, sparking the worst fall in its shares for 27 years.
The Asda-chain owner said earnings would fall between 6% and 12% in the 2017 financial year, compared to market expectations of a 4% gain. Operating expenses would rise faster than sales in the current fiscal year, the retailer said.
Shares dropped US$6.70 or 10% to US$60.03, the biggest drop since January 1988, and the stock's lowest level since March 2012.
The news boosted Asda’s rivals, with Tesco, Sainsbury’s and Morrison’s all higher.
Speaking of Tesco, the food giant has agreed to sell-off 12 of its unwanted sites to a property developer for around £250mln.
Some 10,000 homes will be built on the sites which include areas of London, the South East and Bath.
Tesco is selling the sites to Meyer Bergman, a property investment firm, as part of its revival strategy.
Elsewhere in the UK, strong ice cream demand helped consumer goods giant Unilever (LON:ULVR) to forecast annual sales at the top end of hopes, although markets were still tough.
Unilever said better weather than last year boosted sales of ice creams such as Magnum and Solero, while new versions such as Magnum Pink and Black and Ben & Jerry's Cookie Core range in Europe and North America also helped.
Relatively soft trading in China last year and some advance sales in Latin America also kept sales on an (arctic) roll.
Meanwhile, economic turmoil in China has taken its toll on fashion house Burberry (LON:BRBY), although first half sales still rose.
Burberry said a "more challenging external environment" affected second quarter demand from luxury consumers, particularly Chinese customers.
Underlying retail revenue rose 2% to £774mln while comparable sales increased 1%.
Travelling luxury customers helped the chain to achieve double-digit growth in Europe, the Middle East, India and Asia, particularly continental Europe.
In the small cap news, Obtala Resources (LON:OBT) is seeking an independent stock market listing for its timber operations that it hopes will highlight the hidden value of this particular asset.
The spin-out onto the junior AIM market is expected to take place in the first quarter of next year.
The division, one of the largest concession holders in northern Mozambique, currently sits within a portfolio spanning farming, food and processing.