Yet more sugar-taxes will leave consumers with a bitter taste January 7, 2019 It's been claimed that Brexit has taken up so much political energy that the government has lost its focus on other areas of policy. But fear not – the slack is being taken up by an army of bureaucrats and campaigners who seek to exert ever more control over our lives. With relentless energy the [...]
Loan taken out by GLA to save Crossrail would have put pressure on TfL’s credit rating, finance boss admits January 7, 2019 The Greater London Authority (GLA) agreed to take on a £1.4bn loan to save Crossrail to protect Transport for London's (TfL) less robust credit rating, it has been admitted. At a meeting of the London Assembly's budget and performance committee, chair of the transport committee Caroline Pidgeon asked why it was the GLA that was taking [...]
Central London office space take-up soars to highest level since 2014 January 7, 2019 Fresh evidence of the capital’s thriving office space market has been brought to light today, with new figures showing that take-up in Central London last year soared to its highest level since 2014. Property agents are forecasting that the boom in London’s letting activity will likely carry on into 2019, as supply shortages and persistent [...]
Eli Lilly buys cancer drug specialist Loxo Oncology for $8bn January 7, 2019 Pharmaceuticals giant Eli Lilly has bought Loxo Oncology for $8bn (£6.27bn), marking the second multibillion dollar US drug merger since the start of the new year. In a sign of the fast-growing market for cancer drugs, Eli Lilly said this afternoon that it has acquired Loxo as it looks to bolster its treatment portfolio. Today’s [...]
SFO scales back probe into Rolls-Royce January 7, 2019 The Serious Fraud Office (SFO) has dropped its investigation into a number of individuals associated with British engineering giant Rolls-Royce. Sky News originally reported that a number of people who were suspects in the SFO's investigation have been informed that they are no longer under investigation. Rolls-Royce entered into a deferred prosecution agreement (DPA) with the SFO [...]
Aberdeen University pulls plans for South Korea campus amid oil slump January 7, 2019 The University of Aberdeen has dropped plans to open a campus in South Korea as a downturn in the oil and gas market dented its business case for the venture. The campus, which was meant to offer offshore-related courses for students in the country, was first mooted in 2015 and was planned to open in September [...]
Theresa May hopeful of more EU reassurances over backstop as MPs vote looms January 7, 2019 Theresa May is hoping to get further reassurances from the EU over her Brexit deal as time ticks down to a crunch vote in Parliament. The Prime Minister confirmed on Monday she is continuing to work with Brussels to secure a guarantee the so-called ‘backstop’ – which effectively keeps the UK in the EU’s customs [...]
PG&E plummets amid reports of possible bankruptcy January 7, 2019 Shares in PG&E plummeted by over a fifth today as worries over its future gripped markets in the US. The company dropped 20.9 per cent to $19.36 in early trading in New York as reports surfaced that it could be on the brink of bankruptcy. The utility supplier is considering plans to file for bankruptcy [...]
Debenhams share price slips ahead of market update this week January 7, 2019 Shares in troubled department store Debenhams slipped three per cent today ahead of a trading update on Thursday when it will reveal how it fared over Christmas. The retailer, which has its annual general meeting on Thursday, has seen its share price tank this year, falling from 30p 12 months ago to just 5.5p today. There was [...]
Sport and betting: Why Brexit could pave the way for a wider levy, the role of live data rights, and how the $5bn US market can change the game January 7, 2019 The UK betting industry’s voluntary “whistle-to-whistle” advertising ban during live sports coverage has been widely welcomed but broadcasters – and, by extension, the media rights fees they pay to sport – will take a hit and some sports, such as horse racing, are deemed to be so reliant on gambling that they are exempt from [...]