Norwegian takes off UK expansion plans with more lost-cost flight options targeted at business travellers December 5, 2016 The pound may still be down, but don't write off travel to the US just yet. Norwegian airline is flying to the rescue to boost budget options. Norwegian, Europe's third largest low-cost airline is creating 55 per cent more budget flights to the US from next summer, from 22 to 34 flights per week. Norwegian offers the UK's cheapest direct [...]
Binned merger deal boosts Burberry’s share price December 5, 2016 Burberry group's share price is up by two per cent this morning after it emerged the company turned down a merger deal with its US rival. The British fashion chain received an approach from Coach, but binned a deal that valued the company at over $20bn, according to the Financial Times. Read more: Burberry profits fall [...]
Homes in Islington have been evacuated due to flooding on Upper Street December 5, 2016 Around 100 people have been evacuated from their homes in Islington this morning, after a burst water main led to flooding on Upper Street. London Fire Brigade said firefighters were dealing with the flood between City Road and Islington Green in north London. Six fire engines and three fire rescue units have been deployed. The water is [...]
Italian banks fall as Monte dei Paschi’s future hangs in the balance following Matteo Renzi’s resignation December 5, 2016 Most people aren't out of bed yet, but it's already a dramatic morning for Italy's troubled lenders, who are facing more uncertainty following the result of the country's referendum. The FTSE Italia all-share banks index was down 4.3 per cent in early trading in the country after the resignation of Prime Minister Matteo Renzi threatened another setback in [...]
Building more homes will not solve London’s housing crisis – here’s why December 5, 2016 Let's be clear, the housing crisis is not a crisis just because there is a shortage in housing. It's a crisis because there is a real problem with our access to affordable housing and not enough is being done about it. London homes are the second most over-priced in the world, according to a recent [...]
Royal Bank of Scotland reaches £800m settlement deal with three shareholder groups December 5, 2016 Royal Bank of Scotland has reached a settlement with three out of five shareholder groups involved in claims relating to a rights issue the bank carried out during the financial crisis. RBS said today that it has concluded a "full and final" settlement with three of the groups, representing around 77 per cent of the [...]
New Zealand Prime Minister John Key unexpectedly steps down to focus on his family December 5, 2016 New Zealand Prime Minister John Key unexpectedly announced his resignation today after eight years in power. Key was partway through a third three-year term marked by political stability and economic reform after the global financial crisis when he told reporters he would step down to focus on family, Reuters reported. Deputy prime minister and finance [...]
Fortnum & Mason announces record results with sales and profit up December 5, 2016 Luxury retailer Fortnum & Mason has announced record sales and profit growth of more than 25 per cent for the third year in a row, and revealed that it has increased trading with domestic UK brands over the past 12 months. The iconic British brand reported profits of £6.2m, up 27 per cent compared to [...]
Chinese takeover activity in UK and beyond set to accelerate further, despite political rhetoric and Brexit vote December 5, 2016 Edinburgh-based flights search website Skyscanner and West Bromwich Albion Football Club have been among the high-profile UK targets gobbled up by Chinese businesses this year. With most of December still to come, China-to-UK mergers and acquisitions (M&A) activity has already hit record levels. To date, 31 deals worth $7.65bn (£6.01bn) have been agreed, according to [...]
AppLovin: Firing the 5G starting gun December 5, 2016 Dubbed the “Brexit Budget,” this year’s Autumn Statement was one of few surprises – other than that it would be the last. The chancellor certainly lived up to his “Spreadsheet Phil” epithet. But Philip Hammond gave a welcome nod to UK tech industries, all too aware that their impetus will play a prominent role in [...]