Government makes savings on latest board appointment for Premium Bond operator February 2, 2017 The government has appointed the new chief executive of National Savings & Investments (NS&I), the firm that looks after over £135bn of Treasury-backed savings. Ian Ackerley takes over from interim boss Steve Owen, who babysat the position after Jane Platt left last August following 10 years in the role. Platt moved on to concentrate on her position as a non-exec [...]
Six things we learned from the Brexit white paper February 2, 2017 Theresa May has finally answered the calls of MPs and published a Brexit white paper, today releasing a 77-page document detailing her plan to quit the EU. May previously laid out much of the detail in her landmark address at Lancaster House last month, but what can we glean from all the extra information released today? 1. [...]
Air travel soared last year as more than 700 new routes were established globally February 2, 2017 Air travel across the world soared last year, as new figures showed international passenger traffic rose 6.7 per cent in 2016. And global demand for air travel finished the year on a particularly strong note, driven by double digit growth in the Middle East, Asia Pacific and Europe. There was an industry-wide 8.8 per cent [...]
ING grows its full-year profits, as bank gets going with restructuring plan February 2, 2017 ING announced this morning its full-year profits for 2016 have climbed, shortly after the bank revealed it was undergoing a massive restructuring which would shed thousands of jobs. The figures The Dutch bank boosted its net profits for the year to €4.7bn (£4.1bn), up 16 per cent compared with €4bn the year before. Meanwhile, underlying [...]
Sports Direct buys 11 per cent share in French Connection February 2, 2017 Sports Direct has bought an 11 per cent of French Connection, a stake that would allow the company to disrupt any buy-out bid for the ailing high street retailer. The move comes at a time of flux for the company, which has been hit by losses for five years. Activist investors have been pushing non-executives [...]
Vodafone shares lose momentum: Analysts reflect on Indian and UK concerns February 2, 2017 Pricing pressure in both Europe and India continued to weigh on Vodafone, after the telecoms giant revealed its third quarter trading today. Organic group service revenue grew by 1.7 per cent during the third quarter to December, a touch ahead of market consensus expectations of 1.6 per cent. Shares initially fell nearly three per cent [...]
Theresa May publishes her Brexit plan in government white paper February 2, 2017 Prime Minister Theresa May has issued her much-demanded Brexit white paper, less than 24 hours after MPs voted in favour of granting her the power to begin EU divorce proceedings. The government paper was released by the Department for Exiting the European Union earlier today, following repeated calls for the government to expand on May's [...]
7 things to know from the government’s Heathrow expansion plans February 2, 2017 By now you may have heard the government has set out its draft national policy statement for Heathrow expansion, kicking off a 16-week consultation. But what's this about and what does it mean for Heathrow's third runway? Read more: Government to unveil Heathrow third runway national policy statement 1. Now's the time to air your views [...]
John McDonnell says Labour’s frontbench Brexit rebels may not face the sack February 2, 2017 Labour shadow chancellor John McDonnell has said the party's Brexit rebels may be able to serve on the frontbench, despite disobeying direct orders. 13 Labour shadow ministers, including three party whips, voted against the progress of the Article 50 Bill in the House of Commons last night, ignoring instructions from party leader Jeremy Corbyn to [...]
Bank of England in dramatic upgrade of UK growth forecasts February 2, 2017 Bank of England governor Mark Carney dramatically revised up growth forecasts today, while dismissing fears of banks leaving the UK after Brexit. The Bank now predicts no slowdown over the course of this year. GDP will climb two per cent, according to the Bank’s latest forecasts, the same rate as growth in 2016. The upgrade [...]