City cautiously approves of chancellor’s post-Brexit regulations plan January 19, 2020 The City of London Corporation has responded with cautious approval to chancellor Sajid Javid’s statement that post-Brexit financial services trade with the EU should be on the basis of “outcome-based” equivalence of rules. The chancellor has faced a backlash from car manufacturers and business bodies, however, after he told the Financial Times that the UK [...]
Why investors should pay attention to sugar August 14, 2020 Government action to promote healthy eating, especially in light of the spread of Covid-19, and ongoing changes in consumer tastes will continue to create headwinds for the food and beverage industry, and increasingly for food retailers and hospitality companies too. We’ve known for decades that obesity puts people at greater risk of serious and life-threatening [...]
Scrutiny from DoJ on Deutsche Bank’s role in Danske money laundering scandal December 2, 2019 Deutsche Bank’s role in the Danske Bank money laundering scandal is reportedly facing a deeper investigation from the US, in a move likely to heap fresh pressure on the embattled German lender. The US Department of Justice is probing whether Deutsche helped transfer tainted money from Danske into the US, a source told Reuters. Read [...]
Hammersmith bridge: Repairs could cost £120m and take three years to finish September 3, 2019 Vital repair works to Hammersmith bridge are to cost £120m and will take three years to complete, it was revealed today. The suspension bridge over the Thames was closed by Hammersmith and Fulham council in April after it found “critical faults” it said would risk the safety of users. Read more: Hammersmith bridge costs will [...]
Revealed: Testing delays mean Crossrail may not open until October 2021 December 18, 2019 The central section of Crossrail may not be open before October 2021, despite claims it could be launched in the first quarter of that year. The project has been cursed with endless delays and budget blowouts, with its cost now expected to be £18.25bn – £3.4bn over its original costings. Crossrail bosses announced in November [...]
Economists rule out ‘V-shaped’ recovery after weak survey data May 21, 2020 Survey data today showed that the UK economy remained mired in a deep downturn in May despite an improvement from a dire April. Many economists have said that any hopes of a swift ‘V-shaped’ recovery from the coronavirus crash have all but faded. At the beginning of the crisis, policymakers and analysts hoped that once [...]
HS2 review panel considers axing eastern extension October 5, 2019 The High Speed 2 rail project could be scaled back in northern England to cut costs. Under plans drawn up by the panel reviewing the project, the route beyond the East Midlands to Leeds and Sheffield would be axed. Train speeds would also be cut by 40mph, in a bid to save more than £10bn, [...]
Construction industry output ‘drops like a brick’ to a decade low September 3, 2019 Britain’s construction industry suffered its sharpest decline in new work in more than a decade last month, as economic uncertainty hampered decision making among customers. New orders slumped at their worst rate since March 2009, according to closely-followed industry barometer the IHS Markit Purchasing Managers’ Index (PMI), which read just 40 for the category where [...]
Shop Direct swings to a loss as rising costs and PPI claims hit profits September 19, 2018 Littlewoods owner Shop Direct has moved into the red in the last 12 months, as rising construction costs for new distribution centres and mounting PPI mis-selling claims mount up for the online retailer. Pre-tax losses hit £24.7m in the year leading up to the end of June 2018, compared with profits before tax of £24.9m [...]
Shop Direct swings to a loss as rising costs and PPI claims hit profits September 19, 2018 Littlewoods owner Shop Direct has moved into the red in the last 12 months, as rising construction costs for new distribution centres and mounting PPI mis-selling claims mount up for the online retailer. Pre-tax losses hit £24.7m in the year leading up to the end of June 2018, compared with profits before tax of £24.9m [...]