Pearson sells US school textbook arm for $250m February 18, 2019 Pearson announced the $250m (£194m) sale of its US school textbook division today as it pursues a simplification strategy as it doubles down on digital. Read more: Pearson's shares fall amid declining US revenues The education publisher expects to net $25m today and the full sum over the next three to seven years from the [...]
Labour MPs expected to resign today over divisions on Brexit and antisemitism February 18, 2019 Rumblings of a Labour party split look set to reach a head as sources told the media the disaffected MPs would resign today. Senior party sources told the BBC that the leadership was expecting a handful to resignations while Sky News said the group would make a statement later this morning on "the future of British politics". Those [...]
UK faces ‘large gaps’ in the law as just 13 per cent of EU regulations have been transferred ahead of Brexit February 18, 2019 Businesses face extensive disruption on the UK's scheduled departure date from the EU unless thousands of laws are amended in time for the 29 March deadline. Just 13 per cent of EU legislative regulations have been earmarked for retention by the government, meaning it faces a huge task in ensuring that all relevant laws are [...]
Reeling in the sales: Angling Direct posts surging revenue on back of international growth February 18, 2019 The UK’s largest fishing equipment retailer said this morning that it was forecasting a spike in full-year revenue, as the group ramped up its online operations and enjoyed a bump in sales from anglers in Germany, Russia and France. Angling Direct is expecting to post revenues of £42m for the 12 months to the end [...]
Business lender Iwoca rakes in £150m financing from Augmentum Fintech and NIBC February 18, 2019 Small business lending challenger Iwoca has closed a total fundraise of £150m, led by an earlier £7.5m investment from London-listed fund Augmentum Fintech. City A.M. understands the raise was made up of a £20m series D equity funding round and £130m in debt capital. Existing investor Prime Ventures also participated, alongside NIBC Bank. A person [...]
Peak fares face the axe in proposed shakeup of rail ticketing system February 18, 2019 Peak rail fares could be abolished under new proposals to move away from the UK's complex ticketing system to a fairer, "tap-in, tap out" model. Trade body the Rail Delivery Group (RDG) has called for a revamp of the ticket system to ensure customers only pay for what they need and are always charged the best-value [...]
The ECB has been keeping zombie banks alive February 18, 2019 A decade after the outbreak of the global financial crisis, banks in the euro area have still not recovered. The Eurozone financial stock index is 65 per cent below the pre-crisis peak, whereas the US S&P financial index has come close to the pre-crisis level. The varying fates of financial institutions is due to the [...]
DEBATE: Should the government be intervening to help struggling high streets? February 18, 2019 Should the government be intervening to help struggling high streets? Rupert Pick, co-founder of Hot Pickle, says YES. There’s more to the high street than just shopping. It’s about belonging, human interaction, community. And in a muddled, pre-Brexit, polarised, insular environment, we need vibrant public places more than ever for people to congregate. Yet, in the [...]
The Dragon Awards are on the hunt for London’s most responsible businesses February 18, 2019 In an uncertain time for business and society, it is encouraging to know that so many London-based firms remain dedicated to going the extra mile for their local communities. Businesses are increasingly doing more to benefit society and have the greatest possible impact through their working practices. I regularly meet companies that are championing responsible recruitment [...]
A brave new driverless future? Let’s separate fact from fiction February 18, 2019 You can’t browse the internet without seeing a sensational headlines announcing the imminent ascendency of the driverless car. “Fully driverless cars could run on UK roads by end of year”, “Britain’s driverless revolution will be a car crash as safety rules are recklessly scrapped” and “Driverless Car! It’s about to happen on UK roads” – to [...]