Waiting isn’t working for people seeking asylum in the UK December 4, 2018 It’s a Tuesday morning, and for many of us that familiar post-weekend dread remains, as we think about leaving our cosy beds for the glaring office lights. But mornings aside, working can offer so much more than a pay cheque – work can offer us a sense of purpose, inspiration, and the chance to connect with [...]
Ted Baker’s share price slides further in wake of ‘forced hugging’ complaints December 4, 2018 Ted Baker's share price slumped more than 10 per cent in trading this morning as the City continued to digest the news of harassment allegations surrounding the luxury retail firm’s boss. Shares dipped almost 11 per cent to 1,387p today, having dived 15 per cent yesterday. Yesterday the FTSE 250 firm’s board said it had launched [...]
Morrisons and Tesco flag concerns over Sainsbury’s-Asda merger December 4, 2018 Morrisons and Tesco have added their voice to the growing chorus of retailers which have spoken out against the proposed £12bn merger between Asda and Sainsbury’s. Both grocers have this week brought into question Sainsbury’s planned takeover of rival Asda, which would see Britain’s second and third largest supermarkets overtake Tesco to the top spot. [...]
Majority of companies still waiting to pull the trigger on Brexit preparations, according to survey December 4, 2018 A majority of companies have made no changes to their business plans ahead of Brexit, according to research. The Bank of England’s (BoE) regional agents asked 369 companies in October and November whether they had made changes to their supply chains, set up new legal entities or relocated office ahead of either a no-deal scenario [...]
Former Bank of England governor Mervyn King savages May’s Brexit deal December 4, 2018 The former governor of the Bank of England Lord Mervyn King has slammed Theresa May’s Brexit deal and implicitly criticised his successor Mark Carney. King called the withdrawal agreement "incompetence of a high order". “It simply beggars belief that a government could be hell-bent on a deal that hands over £39 billion, while giving the EU both [...]
Zopa to launch digital banking service, becoming latest group to take the fight to traditional high street banks December 4, 2018 Peer-to-peer lender Zopa is to follow through on continued hints that it would launch a bank, this morning announcing that it had acquired a license to do so. The company said it will roll out a range of new banking products next year, including fixed term savings accounts, credit cards and a money management app, [...]
Mark Carney: Bank scenario was not an ‘exam crisis’ December 4, 2018 Bank of England governor Mark Carney rebuffed his critics in front of an audience of MPs this morning after insisting that his recent doomsday scenario was not an “exam crisis”. The Threadneedle street boss said that criticism of the Bank’s decision to make a report on a worst-case scenario – which warned that the pound could fall [...]
French Prime Minister to halt fuel tax rise amid violent protests December 4, 2018 France’s embroiled government is set to back down today over a planned fuel tax rise which has prompted widespread protests and violent demonstrations across the country. According to local media Prime Minister Edouard Phillipe is set to pull the plug on proposed diesel tax hikes in an attempt to de-escalate current tensions between President Emmanuel [...]
Brexit case: European Court says Article 50 can be reversed December 4, 2018 The Court of Justice of the European Union (CJEU) said today that Article 50 could be reversed, halting the UK's exit from the European Union. Spanish judge, advocate general Campos Sanchez-Bordona, said in his non-binding opinion that reversing Article 50 would be within the powers of the UK as a sovereign state. He said: “Withdrawal from [...]
Sandwich maker gives shareholders a taste of the profits after sale of US arm December 4, 2018 Irish food company Greencore put a smile on the face of its shareholders this morning, posting a rise in profits and pledging to return cash to investors following the sale of its US arm. Pre-tax profits at the sandwich, salad and sushi maker rose 13 per cent to £17.8m in the financial year to the [...]