Theresa May is ready for Brexit negotiations to ‘accelerate and intensify’ but Michel Barnier says big divergences remain June 29, 2018 Theresa May has told European Union leaders the UK is ready for Brexit talks to pick up, with the publication of a much-anticipated Brexit white paper to be published shortly. But EU chief negotiatior Michel Barnier said today that while progress had been made – big differences remained. He added that he hoped a British [...]
Crossrail ditches the purple for these yellow Elizabeth Line trains June 29, 2018 You may have seen the rather striking new addition to the Tube map as previewed by Transport for London (TfL) in December to show the addition of the purple Elizabeth Line ahead of its December launch. And that royal purple colour has already been featured across the brand new Elizabeth Line trains revealed back in [...]
Tesco Go: The UK supermarket chain is trialling an Amazon-style version of checkout-free shopping June 29, 2018 Tesco has said it is testing a way of paying for your shopping in-store without going through a checkout, using a smartphone app to scan items and pay online. The app is being tested in a Tesco Express near its headquarters in Welwyn Garden City, which is also one of the retail chain's cashless stores. [...]
Editor’s Notes: The City is right to warn the EU against its own Brexit complacency, UBS’s forecasting woes and Xavier Rolet’s agricultural insight June 29, 2018 The heat is rising in the City, and not just because of the recent heatwave. On Wednesday, the normally mild-mannered chief of TheCityUK, the finance industry’s main lobby group, unleashed his frustration at EU regulators over their failure to meet the UK halfway on securing a legal basis for the continuation of cross-border contracts post-Brexit. [...]
Poundland owner Steinhoff secures deal with creditors to pave way for restructuring plans June 29, 2018 The South African retailer that owns Poundland said today that it had got the thumbs up from creditors to move ahead with debt restructuring plans. Steinhoff, which owns brands such as Benson for Beds and Harveys in the UK, said in an update today that it had agreed "key commercial terms" on its restructuring plans, [...]
Barclays adds three new hires in digital markets push as it tries to face down activist investor June 28, 2018 Barclays has appointed three new senior bankers as it tries to push forwards better use of digital technology in its corporate and investment bank. The move comes as the bank tries to demonstrate moves to strengthen its investment bank, after activist investor Edward Bramson built up a stake in the lender. Bramson is reportedly pushing [...]
Shire share price jumps after Takeda rebels defeated at annual general meeting June 28, 2018 Shire’s share price rose by more than two per cent this morning following the defeat today of a group of rebel investors at Japanese pharma giant Takeda’s annual general meeting. Read more: Takeda shareholder group aims to block $62bn Shire deal The group, who are trying to block Takeda’s forthcoming $62bn (£47.3bn) acquisition of Shire, [...]
TSB staff faced ‘sickness epidemic’ under strain of computer crisis, union claimed June 28, 2018 Staff at embattled bank TSB faced a “sickness epidemic” because of the stress of dealing with disgruntled customers after a massive computer systems meltdown, according to a union which represents some of its staff. The boss of the TBU union, Mark Brown, claimed that absences increased by 25 per cent in some business areas, in [...]
Take a look at the aircraft on show in the RAF’s centenary July flypast over central London June 28, 2018 The spectacular Royal Air Force showpiece celebrating its 100th anniversary has been announced as a "once-in-a-lifetime" centenary flypast over central London. The event on 10 July will see up to 100 aircraft take to the skies, with historic aircraft such as Spitfires alongside some of the RAF's newest additions – including the first opportunity for [...]