Veteran newspaper exec leads takeover plot for Richard Desmond titles January 10, 2017 A former News of the World editor is spearheading a takeover plot for Richard Desmond’s newspapers and magazines. David Montgomery, also a former Mirror Group chief executive, is seeking to drum up funds for a new media investment vehicle. Read more: Daily Express owner mulling sale of tabloids to rival Trinity Mirror Montgomery, who City [...]
As he rows back on free movement and flirts with wage cap proposals, will Jeremy Corbyn last the year? January 10, 2017 Rupert Myers, barrister and writer, says Yes. Within the Westminster bubble, the Jeremy Corbyn relaunch went about as well as the tragic lift off of the space shuttle Challenger. Corbyn’s muddle on free movement and the Single Market is likely to have infuriated even his die-hard fans. Is he for free movement? Is he for [...]
Argentina seals deal with foreign energy firms to develop mammoth shale oil and gas deposit January 10, 2017 Argentina's president has said the country has struck a deal with labour unions and a string of energy companies to lure investors to its massive shale oil and gas reserves. Oil majors including Chevron, Total, Shell, BP and Argentinian state energy firm YPF have been among the companies tipped to invest $5bn (£4bn) this year [...]
Food suppliers squeezed as supermarkets play hardball in Brexit price talks January 10, 2017 Food suppliers are being squeezed as supermarkets play hardball in talks over which side should shoulder the burden for the devaluation of the pound, new figures suggest. Research from insolvency firm Begbies Traynor shows 6,000 food suppliers were showing signs of financial distress in the final quarter of 2016, an increase of 13 per cent [...]
Tough EU privacy rules could soon apply to WhatsApp, Facebook and Google January 10, 2017 Privacy laws which only apply to telecoms companies could soon be extended to cover newer digital services such as Facebook, WhatsApp, Google and Skype, in new proposals by the European Parliament. The e-privacy directive governs things such as the handling of data and making sure users consent to sharing information. Now Brussels wants to update the [...]
Ryanair knocks Lufthansa off the top spot as Europe’s largest airline by passenger numbers January 10, 2017 Aiming to become the "Amazon of travel" may seem a lofty ambition for Ryanair, but the airline has reason to feel confident at the moment. It's just been confirmed that last year the airline was Europe's biggest airline by passenger numbers. It announced last week it carried 117m passengers for 2016 (up 15 per cent) [...]
Chipotle’s sales disappoint analysts despite a rise in revenue January 10, 2017 Chipotle Mexican Grill's preliminary fourth quarter figures show sales are up, but its results will be lower than expected. Sales revenue is anticipated to be $1.035bn (£849.7m), up from $997.5m the previous year, but below analyst estimates of $1.05bn. The US-based Mexican food chain said comparable restaurant sales, or those that have been open for at least [...]
Jeremy Corbyn moots 20:1 pay ratio limit for government contractors January 10, 2017 Labour leader Jeremy Corbyn has dramatically shifted his proposals for an earnings cap. Speaking in Peterborough today, Corbyn offered two new rules for contractors, alongside proposals for broader reforms. Just hours after setting out his desire for "a maximum earning limit", the Labour leader said he would rather tackle pay ratios in the hopes of raising [...]
Trinidad and Tobago-focused oil firm Trinity Exploration dodges insolvency with restructuring and will rejoin Aim tomorrow January 10, 2017 A formerly debt-riddled Caribbean-focused oil and gas group will be rejoining London's Alternative Investment Market (Aim) tomorrow after a major restructuring and fundraising effort. Trinity Exploration, which works exclusively in Trinidad and Tobago, is rejoining the junior market after gaining approval from its creditors. It will be re-trading under former ticker "TRIN". The firm's restructuring talks [...]
Former Bank of England deputy governor chosen as new BBC chair January 10, 2017 Sir David Clementi, the former deputy governor of the Bank of England, has been named as the government’s preferred candidate for the BBC chairmanship. He is set to head up the new BBC board, which is replacing the BBC Trust under the terms of the government’s new royal charter for the corporation. Clementi will appear [...]