Theresa May defeated on ‘no deal’ vote as 20 Tories rebel January 8, 2019 MPs opposed to a ‘no deal’ Brexit drew first blood last night ahead of a momentous week for the government's EU withdrawal plans. Some 20 Tory MPs voted with Labour to restrict the chancellor's ability to cut or raise taxes in a ‘no deal’ scenario without the consent of Parliament. The move could severely tie [...]
Lights out: Economy Energy shuts down weeks after denying bankruptcy reports January 8, 2019 Ofgem must do more to ensure that energy suppliers are properly regulated, experts warned today as it was scrambling to deal with the fallout from another bankruptcy. Over 230,000 customers were left in limbo as Economy Energy closed down, only weeks after denying it was on the brink of collapse. Read more: Economy Energy banned from [...]
Deutsche Bank to cut bonuses after tough year for Germany’s biggest bank January 8, 2019 Deutsche Bank is set to slash its bonus pool by around 10 per cent after a torrid year for Germany’s biggest bank. The bank’s board could also be more selective in its bonus pay in a bid to keep its highest earners, Bloomberg first reported. In 2017 the German lender dished out €2.2bn (£2bn) but [...]
DNO’s increased hostile bid could be enough says top Faroe shareholder January 8, 2019 A new and increased offer for Faroe Petroleum could be enough for DNO to win its hostile bid against the wishes of the board, one of the target’s main shareholders has said. Paul Mumford at Cavendish Asset Management, who in the past dismissed the bid, said he believed the new offer of 160p a share, an 8p [...]
Heathrow Airport suspends departures after possible drone sighting January 8, 2019 Planes have been grounded at Heathrow after the airport confirmed there had been drone sighting just weeks after a similar problem at Gatwick forced the airport to a grinding halt. A Heathrow spokesperson said: “We are currently responding to a drone sighting at Heathrow and are working closely with the Met Police to prevent any threat to [...]
US insurer Metlife appoints new boss after stock slumps following spin-off January 8, 2019 US insurer Metlife today appointed one of its senior employees as chief executive to take over from the current holder of the role Steve Kandarian. Michel Khalaf, the head of the company’s US and Europe, Middle East and Africa business, will take the reins from 1 May when Kandarian retires. Kandarian has led Metlife for eight [...]
Stansted Airport chooses Mace as main contractor for new £150m arrivals terminal January 8, 2019 London Stansted Airport has awarded construction company Mace a £150m contract to complete its new arrivals terminal. Work on the new terminal, which is projected to cost between £120m and £150m, is due to start in the spring and is scheduled to be completed by 2020. The new terminal is the flagship project in the airport's [...]
Dress codes to be relaxed at City banquets to make events more inclusive January 8, 2019 Councillors have approved plans to relax dress codes at certain City banquets in a bid to make events more inclusive. The City of London Corporation approved a trial that will see guests attend the Business and Industry Dinner in March in lounge suits rather than black tie. Policy chair Catherine McGuinness said it was a [...]
Military to dismantle Sergei Skripal’s Salisbury home to get rid of any traces of Novichok January 8, 2019 Military experts are set to partly dismantle the home of a former Russian spy who was targeted with Novichok as part of ongoing decontamination works. Sergei Skripal, 66, and his daughter Yulia, 33, were poisoned by the nerve agent at his home in Salisbury in March when it was sprayed on the front door handle. [...]
Laing O’Rourke agrees long-awaited refinancing terms with lenders January 8, 2019 Contractor Laing O’Rourke has finally agreed refinancing terms with its lenders after delays forced the company to postpone the publishing of its accounts for the last financial year by three months. The company said the terms, which were agreed over the Christmas period, delivered new banking facilities until 2022. The arrangements are currently in the [...]