Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
More passengers choose Heathrow as Australia flights get bump June 11, 2019 Trips to Australia spiked last month, helping to drive up the number of passengers at Heathrow for the 31st month in a row. More than 6.7m passengers travelled through London’s biggest airport in May, it confirmed this morning. The 1.4 per cent passenger growth was helped by flyers going to Oceania, with numbers spiking 10.8 [...]
Sainsbury’s chooses ex-RBS man Brown to head banking unit June 11, 2019 Sainsbury’s has appointed a new chief executive to lead its baking unit as it looks to build its online presence. Former RBS man Jim Brown will take over the reins at Sainsbury’s Bank from next Wednesday. The bank handles Sainsbury’s Bank customers, as well as Argos Financial Services and Nectar. Brown will have a “short” [...]
Iran sanctions put dent in Chinese oil imports June 10, 2019 Imports to China, the world’s largest buyer of oil, lowered its imports last month as US sanctions on Iran bit. Chinese imports of crude oil fell eight per cent in May, compared to the month before. Because May is one day longer than April, this represents a daily drop of 11 per cent. It comes [...]
Insys Therapeutics files for bankruptcy after $225m payment for bribing doctors June 10, 2019 US drugmaker Insys Therapeutics has gone into bankruptcy after reaching a $225m settlement in the US last week. The company said this morning it was filing for so-called Chapter 11 protections. It will use the bankruptcy to sell more than three-quarters of the company’s assets within 90 days to pay off its legal costs. “After [...]
Government’s foreign investments ‘undermine’ its climate targets June 10, 2019 Britain is undermining its own climate targets by funding fossil fuel-burning energy plants abroad, MPs warned this morning. UK Export Finance, a body which provides credit to British exporters, should take after countries like Sweden, which cap fossil fuel funding, the Environmental Audit Committee said. The body has pumped £2.5bn into fossil fuel projects around [...]
MJ Gleeson falls as it sacks boss June 10, 2019 MJ Gleeson sacked its chief executive this morning after he came to blows with the board over pay. Jolyon Harrison, who has been in the post since 2012, stepped down with immediate effect. The board said it was “not possible to find a mutually acceptable basis for Mr Harrison to continue.” The decision follows “extensive [...]
Ferguson dips on concerns over US market June 10, 2019 Worries about the US economy weighed on Ferguson shares this morning, analysts said, as the company announced a $500m buyback. The plumbing company, which does 85 per cent of its business in the US, escaped effects of a potential US slowdown in the quarter. But future concerns helped drive shares down 3.9 per cent, said [...]
Sunny markets beckon for London energy supplier Bulb June 6, 2019 London-based energy supplier Bulb will export its concept abroad, it said today as Britain’s challengers look to do for foreign markets what they have in the UK. Bulb will take its first tentative steps into France, Spain and Texas, starting with an invitation-only service, it said today. It plans a general launch in the markets [...]
Collapse of car mega-merger poses headache for France’s Macron June 6, 2019 The Macron administration in France was forced to firefight today as it was accused of scuppering a multi-billion euro deal between Fiat Chrysler and Renault. A source close to Fiat Chrysler (FCA) today blamed the French government for succumbing to domestic pressures. It presents a headache for Emmanuel Macron, who won a presidential run in 2017 [...]
Gender pay gap increases at UK’s biggest firms as more than half fail to narrow the difference April 5, 2019 The gender pay gap at the UK's largest employers has increased despite a government drive to urge companies to improve women's salaries. While the 553 companies paying women less than men represented a drop of 29 for 2018 compared with the year before, the average median pay gap increased by 0.02 per cent year on [...]
