Coronavirus: What firms will survive the pandemic? April 20, 2020 The coronavirus outbreak has created clear winners in businesses such as Amazon, Facebook, Netflix, Google and Apple, and losers such as Uber, Airbnb, and WeWork. The vast majority of industries are losers as they are effectively shut by the lockdown. Taxi usage has collapsed which means it may be a long time before Uber approaches [...]
Fire ‘biggest cause of losses’ on construction projects in recent years August 20, 2019 The biggest cause of financial losses on large-scale construction projects across the globe in the last five years is fire, according to research, while political risk and international sanctions are a growing concern for contractors. Fire accounts for more than one-quarter of losses on insurance claims made by contractors, according to Allianz, worth around €2.1bn [...]
Kier’s COO leaves with immediate effect November 15, 2019 Kier’s chief operating officer has left the business with immediate effect as the struggling outsourcer rang the changes at the top amid reported interest from private equity. Claudio Veritiero, who was appointed COO only in August of 2018, has quit the company today. Read more: Private equity firm circles Kier as it looks to raise [...]
Swansea tidal lagoon backers call for Boris Johnson to greenlight project June 22, 2020 The chief executive of the Swansea Tidal Lagoon has called for Boris Johnson to give the go ahead to the renewable energy project, saying that the UK will need to use “every green project we can” if it is to decarbonise its energy system. Currently, the project is waiting for the Department of Business, Energy [...]
Taylor Wimpey reports strong demand for homes in second half November 13, 2019 House building giant Taylor Wimpey reported strong demand for new homes in the second half of the year despite uncertainties related to Brexit. The company said the UK housing market remained resilient in the second half, but said customer caution increased in the higher-priced markets of London and the South East. Read more: Taylor Wimpey profits [...]
Technically Speaking August 18, 2020 August 1st 2012, as the trading day begins on the New York Stock Exchange, Knight Capital, the largest trader in US equities at the time, goes on a buying spree: within 45 minutes the firm buys 150 different stocks for 7 billion US dollars. There were no special circumstances to suggest such optimism – besides, [...]
In allying with Iran, China signals the start of Cold War II July 20, 2020 To read the lion’s share of today’s headlines, you would think the western world is in its final days, a Rome tottering on the edge of the abyss. And yet geopolitically, for all our leaders’ unheroic bungling of the coronavirus pandemic, our primary strategic rival China has had a far worse innings. Overconfident President Xi [...]
UK economy receives fresh warnings before Rishi Sunak addresses MPs May 18, 2020 Chancellor Rishi Sunak is preparing to address MPs today following new dire predictions of the impact of coronavirus on the UK economy. Sunak is set to face questions over how the UK will pay for huge public borrowing currently propping up the economy. The Treasury boss extended his job retention scheme to October last week, [...]
Lekoil receives stay of execution as operator delays payment deadline January 21, 2020 Investors in embattled Lekoil, which was last week embroiled in an extraordinary saga involving a fake investment fund, could breathe a sigh of relief today the operator of the Nigerian oil field the fake loan was meant to support said it would delay the deadline of Lekoil’s payment of $9.6m for costs. Optimum, which operates [...]
Travis Perkins halts sale of plumbing and heating unit amid ‘unprecedented’ uncertainty October 22, 2019 Travis Perkins has put the sale of its plumbing and heating business on hold due to an “unprecedented level of uncertainty” in the market. The building materials distributor had decided to tell the unit last December in a bid to simplify and cut costs. Read more: Travis Perkins confirms plans to demerge Wickes But the [...]