DEBATE: Should Theresa May try to renegotiate her Brexit deal at the EU Summit this weekend? November 23, 2018 Should Theresa May try to renegotiate her Brexit deal at the EU Summit this weekend? Ruth Lea, economic adviser to the Arbuthnot Banking Group, says YES. There is little doubt that the withdrawal agreement, including the egregious backstop and the backstop-based draft future relationship, would leave this country in the worst of all possible worlds if the [...]
New magazines fuel Future’s profit jump after spending spree November 23, 2018 Future reported huge jumps in both profit and revenue in its full-year results today after a string of acquisitions breathed new life into the magazine publisher, sending shares up almost five per cent in early trading. The figures Group revenue grew by 48 per cent year on year to £124.6m for the 12 months to the [...]
Guest notes: Boatman’s analysis on Babcock should be treated with scepticism November 23, 2018 All the noise around Babcock and its financial woes have left me feeling distinctly uncomfortable. It’s not the fact that the company has issues, as do most outsourcers. My problem is with the source of the recent vicious bear raid on the business – the so-called Boatman Capital. It is a month since Boatman and [...]
Smarting: Rollout of new energy meters behind schedule and over budget, auditor says November 23, 2018 The spending watchdog has today called on the government to take responsibility as its scheme to put a smart metre in every home is by 2020 is set to fail. The National Audit Office found that initial cost estimates have already overrun by half a billion pounds, while it warned that customers may not save [...]
Virgin Atlantic opens talks to buy struggling budget airline Flybe November 22, 2018 Virgin Atlantic has opened talks with struggling low-cost airline Flybe over a possible takeover. The airline partly owned by Sir Richard Branson has emerged as a surprise potential buyer after the Exeter-based airline put itself up for sale earlier this month, Sky News reported. Sources said Virgin Atlantic saw the move as an opportunity to feed [...]
‘It’s not a good deal’: Internal emails reveal CBI doubts over Brexit deal it has publicly backed November 22, 2018 Bosses at one of Britain's biggest business groups have been left red-faced tonight after emails accidentally sent to a broadcaster revealed doubts within the organisation over Theresa May's Brexit deal. The Confederation of British Industry (CBI) publicly backed the political declaration on UK and EU's future relationship, praising negotiators on both sides and calling it a “much-needed” [...]
Brexiters have racked up the victories but no one wants to admit it November 22, 2018 “Victory has a thousand fathers but defeat is an orphan,” an Italian diplomat noted in the 1940s. Yet, as with so much Brexit has touched, that wisdom has been turned on its head. The draft political declaration of the UK and EU’s future trading relationship should have been a cause for celebration for Conservative Brexiters. [...]
KPMG faces tribunal for its work for mattress firm Silentnight November 22, 2018 Audit firm KPMG and one of its partners face a tribunal over work for mattress firm Silentnight, the accountancy watchdog said today. The Financial Reporting Council (FRC) today delivered a formal complaint against the firm and restructuring partner David Costley-Wood. The FRC alleged that KPMG and Costley-Wood acted for Silentnight “in circumstances where their professional judgment [...]
GoldenTree Asset Management paid Boris Johnson more than £94,000 for a two-hour speech November 22, 2018 Former foreign secretary Boris Johnson received more than £94,000 from a New-York based hedge fund to give a two-hour speech earlier this month. Johnson, who resigned during the summer over Theresa May's so-called Chequers deal, was paid £94,507.85 by GoldenTree Asset Management to speak at its offices on Park Avenue. He was also provided with travel [...]
Theresa May’s Brexit trading plan fails to win over key Tories November 22, 2018 Theresa May's hopes of winning over rebel Tories were dashed on Thursday as a string of MPs spoke out against the latest part of her Brexit plan. A 26-page declaration on the UK and EU’s future trading arrangement was released following late Wednesday night talks between negotiators in Brussels, committing both sides to an “ambitious, [...]