New boss of Trident programme, the Submarine Delivery Body, to bag £500,000 pay package January 8, 2017 The next boss of the Trident nuclear programme, the Submarine Delivery Body, will become one of the UK's top-paid civil servants with a pay packet totalling around £500,000. Prime Minister Theresa May, by comparison, earns almost £150,000. The chief executive of the submarine body, whose package includes bonus and salary, will manage the £41bn construction [...]
Tui in talks with Swiss firm Kuoni and American companies KKR and Warburg Pincus over Travelopia sale January 8, 2017 Tour operator Tui is in talks with Swiss rival Kuoni and American buyout giants KKR and Warburg Pincus over the sale of a range of travel websites. In September of last year, Europe's biggest tour operator confirmed it had asked Citigroup to find a buyer for specialist holiday arm Travelopia in a deal potentially worth €500-600m (£428m-£514m). [...]
Rolls-Royce launches partnership with engineering giants Amec Foster Wheeler, Nuvia and Arup to build fleet of mini nuclear reactors January 8, 2017 FTSE 100-listed engineering giant Rolls-Royce has teamed up with a raft of British engineering groups to design and build a fleet of mini nuclear reactors. Amec Foster Wheeler, Nuvia and Arup will work with Rolls-Royce, together with the Nuclear Advanced Manufacturing Research Centre, in the effort to make small modular reactors (SMRs). The engineering partnership [...]
Private equity firm 3i mulls sale of retailer Hobbs for as much as £80m January 8, 2017 It could be a busy New Year for 3i. City A.M. understands the British private equity firm is looking to sell clothing brand Hobbs, which it has owned since 2004, for as much as £80m, with investment bank Rothschild being lined up to handle the auction. 3i declined to comment. The retailer undertook a strategic review of the [...]
This Ukip MEP wants us to take back control of our pints after Brexit January 8, 2017 Forget immigration, trade deals and passporting, there's a more important task at hand. One Ukip MEP has called for the crown mark on pint glasses to be reinstated now that Britain is leaving Europe – although, they never truly went away. "All drinkers remember the crown mark, knowing that it guaranteed them a full pint, indeed there [...]
Theresa May is hinting at the end of the UK’s Single Market membership January 8, 2017 Prime Minister Theresa May has suggested the UK will give up its Single Market membership in Brexit negotiations, with the European customs union participation also expendable. May appeared to take a swipe at Remain campaigners who want the UK to keep hold of "bits" of EU membership. "We are leaving. We are coming out. We are not [...]
Two essential maps for walking around London during the Tube strike January 8, 2017 Commuters face more crazy travel troubles as Tube workers prepare to go on strike starting from 6pm on Sunday evening. London Underground stations in Zone 1 are expected to be severely disrupted with many closed, meaning that travellers will have to find alternative routes to their destinations if still travelling into the city. Read more: There's [...]
Why the taxman’s latest weapon against evasion might not hit its target January 8, 2017 The New Year has brought with it HM Revenue & Custom's (HMRC) latest weapon in the battle against tax evasion: civil penalties for the 'enablers' of offshore tax evasion. Under the new regime, accountants, bankers, lawyers and other advisers who take deliberate action to help others to engage in offshore tax evasion, will face civil [...]
Bad news commuters: A 24-hour Tube strike is going ahead from 6pm after unions reject last-ditch offer January 8, 2017 The Transport Salaried Staffs' Association (TSSA) has rejected a new offer on jobs from the London Underground in a bid to avoid a 24-hour strike. The union said its members are going ahead with the industrial action from 6pm on Sunday. It comes after the biggest rail union, the Rail, Maritime and Transport (RMT) union, [...]
There’s going to be a major Tube strike: Here’s what you need to know January 8, 2017 Happy new year, everyone: London will grind to a halt on Monday as Tube staff from the RMT and TSSA unions go on a 24-hour strike over ticket office closures. Transport for London (TfL) has warned customers to be prepared for most stations throughout Zone 1 to be closed throughout the action. Here's what you [...]