Shares in recycling firm Renewi binned by investors over contaminated soil delays November 8, 2018 Shares in waste recycling firm Renewi have been binned by investors following delays at its contaminated soil facility. The London-listed Dutch recycler said full soil production would not resume this financial year at its ATM contaminated soil treatment facility in the Netherlands. The company said regulators had asked for further analysis of its treated soil [...]
3i Infrastructure ‘delighted’ as investment portfolio delivers £157m return November 8, 2018 British infrastructure investment fund 3i today hailed a rise in net asset value per share today as its portfolio delivered a return of £157m. The figures The fund's total return rose to £157m for the six months to September, up from £121m for the same period last year. This represents a 9.3 per cent return on its opening [...]
Brexit uncertainty boosts Wincanton profits November 8, 2018 Logistics firm Wincanton reported strong results for the six months to the end of September as British companies scramble to prepare for a no-deal Brexit. The figures Wincanton’s revenue was up a marginal 0.1 per cent to £581.8m. Profit before tax rose 48 per cent to £30.1m. Cash flow was up to £33.5m from [...]
Toshiba withdraws from UK nuclear power station November 8, 2018 Toshiba is pulling out of a nuclear power project in Cumbria after failing to find a buyer, it said today. The Japanese conglomerate said it would begin winding up its Nugeneration subsidiary, which was overseeing the construction of the power plant, and expects to record losses of roughly ¥15bn (£100m) as a result. The company [...]
China’s Xi issues warning to Trump as he prepares to meet with Putin at G20 November 8, 2018 Chinese President Xi Jinping has warned US President Donald Trump to respect its choices, ahead of the two world leaders meeting at the G20 summit in Argentina later this month. China and the US have been embroiled in a trade war for several months, placing tariffs on hundreds of billions of dollars worth of goods on both [...]
Sainsbury’s and Asda merger could cut hole in shoppers’ pockets, Waitrose warns November 8, 2018 The proposed merger of Asda and Sainsbury’s will cause substantial harm to customers, rival chain Waitrose warned today. It said the merger could force independent retailers to close in the face of competition from the new giant, leaving shoppers with fewer alternatives, while prices could rise. In comments to the Competition and Markets Authority (CMA), which [...]
The government is finally turning its attention to the housing crisis, but what’s missing? November 8, 2018 There's no question that the housing market is in need of drastic reform. So it was welcome news last week when the chancellor announced that the government was turning its attention to reforming the supply side of the market through a £500m Housing Infrastructure Fund and British Business Bank guarantees for SME house builders. In broader terms, there seems to [...]
Italian bond yields jump as EU predicts slower growth and higher deficits November 8, 2018 Italian bond yields have jumped after the European Commission predicted a more pessimistic outlook for the country's economic than the Italian Government's forecast. The commission predicted Italy's budget would push its deficit to 2.9 per cent of GDP in 2019, rather than the 2.4 per cent estimated by Rome, and that it would rise to [...]
International trade secretary Liam Fox says UK must be able to withdraw from Irish backstop November 8, 2018 International trade secretary Liam Fox has said the UK must have the ability to leave the backstop arrangement that is taking centre stage in the Brexit negotiations. Fox rejected the idea that the backstop could be ended by mutual agreement with the EU, telling reporters that Britain could not "sub contract" the decision to the [...]
Game Digital narrows losses as it chases high margins with e-sports venture November 8, 2018 Game Digital narrowed its losses but still saw sales fall in its full year results published today. The figures Revenue came in flat ar £782.3m in the year to the end of July, while the video game retailer made a loss before tax of £7.4m, 26 per cent better than 2017's £10m, as the retailer bumped up cash [...]