Finally, the Tories have tackled the UK’s deficit February 22, 2019 Credit where it’s due, Philip Hammond has finally conquered the deficit – albeit several years after his predecessor George Osborne originally promised to have done so. While the government is still spending more money than it generates, the UK’s rate of borrowing is considerably below pre-crisis levels. In its analysis of yesterday’s borrowing figures the [...]
Pearson to unveil £500m pension insurance deal with Legal & General February 21, 2019 Publishing giant Pearson is set to announce a £500m deal with Legal & General (L&G) in a bid to shore up its pensions liabilities, Sky News reported. The FTSE 100 firm, which specialises in education, will announce the deal tomorrow alongside its annual results, according to the report. Read more: Pearson sells US school textbook [...]
Editor’s Notes: Is this new group just a respite centre for Remainers…or something more? February 21, 2019 Are we witnessing the dawn of a new political age, or the spasm of a few politically homeless MPs? The smart answer is that it’s too early to tell, but if I were forced off the fence I’d say the latter is more likely. There will almost certainly be more defections, from Labour as well [...]
Flybe completes sale to Virgin-led consortium after dramatic last-minute challenger bid February 21, 2019 Struggling regional airline Flybe has completed the sale of its assets to a consortium of buyers led by Virgin Atlantic. Flybe confirmed it has sold its assets and operations for £2.8m to Connect Airways, an investor group consisting of Virgin Atlantic, Stobart and hedge fund Cyrus Capital. The deal comes just days after it emerged [...]
Huawei ramps up $2bn plan to address security worries as global pressure mounts February 21, 2019 Huawei has ramped up its $2bn (£1.5bn) project to address British security concerns as pressure mounts on the Chinese firm over spying fears. The tech giant will present its plan to resolve the problems by the end of the first half of this year and may fork out more than the $2bn originally set aside, [...]
Swiss Re boosts profit 27 per cent in 2018 despite tough year for natural disasters February 21, 2019 Swiss Re boosted net profit 27.2 per cent in 2018, despite sustaining hits from natural and man-made disasters. The reinsurer reported net profit of $421m (£366m) compared with $331m a year previously, despite 2018 being the fourth-costliest year on record for the insurance industry. However, its profit is 37 per cent behind consensus, according to figures [...]
Johnson & Johnson share price falls as baby powder scandal intensifies February 21, 2019 Johnson & Johnson’s share price fell today after it was revealed the Securities and Exchange Commission (SEC) are investigating the company over allegations over a possible asbestos contamination in its baby powders. The company’s share price fell 1.4 per cent after it revealed that it had received subpoenas from the US Justice Department and SEC regarding its [...]
A terrible year for deaths in 2018 could boost insurers’ balance sheets February 21, 2019 A grim year for deaths in 2018 could see insurers flush with cash as they release reserves earmarked for paying incomes to pensioners. According to analysts at Royal Bank of Canada (RBC) Capital Markets 2018, was “the worst year for deaths this millennium” with a prediction that the soon-to-be-published mortality tables used by UK insurers [...]
Theresa May tells quitting MPs the Conservative Party is not ‘warped’ like Labour February 21, 2019 Theresa May has insisted the Conservative party has not become “warped” after three resigning MPs accused it of being in the control of zealots. In an open letter to Anna Soubry, Sarah Wollaston and Heidi Allen – all of whom quit the Tories on Wednesday – the PM rejected any comparisons between her party and [...]
City of London Corporation forced into U-turn following homophobia claims February 21, 2019 The City of London Corporation has been forced into an "embarrassing" U-turn after a decision to turn down LGBT funding applications prompted a backlash from councillors. The Corporation's hospitality and working party, which grants funding for events and sits within the influential policy and resources committee, faced accusations of homophobia after it turned down funding requests [...]