Single Market blues: The pound’s fallen to its lowest level against the dollar since October January 9, 2017 The pound today fell to its lowest level against the dollar since October last year, after comments by Theresa May caused investors to shy away from the currency. The pound plunged one per cent to $1.2122 in afternoon trading. It also fell more than one per cent against the euro, to a day-low of €1.1491, [...]
Senior Tory MP Andrew Tyrie is demanding details in Theresa May’s Brexit plans January 9, 2017 Senior Tory Andrew Tyrie is demanding the government explains its hopes for the Single Market as part of a Brexit plan promised last year. Last year, Prime Minister Theresa May committed to revealing more on the UK goals ahead of triggering Article 50, and now Tyrie, who chairs parliament's influential Treasury Committee, is demanding that any [...]
UK bidder still hopeful in Green Investment Bank bidding process after Macquarie slammed for asset-stripping plans January 9, 2017 The British bidder for the government’s Green Investment Bank (GIB) has retained hope of landing the asset as the preferred buyer’s offer comes under scrutiny. Australian investment bank Macquarie has been the government’s preferred bidder for the privatisation since the autumn. But, after it was reported over the weekend that Macquarie plans to strip the bank [...]
BMW commits to Mexico plant as Fiat Chrysler says it’s ready to take the lead from President-elect Donald Trump’s new rules January 9, 2017 BMW has committed to plans to build a new $1bn (£814m) plant in Mexico, despite recent comments from President-elect Donald Trump that have spooked other car firms. The German car giant's sales and marketing director, Ian Robertson, said the firm was "absolutely" committed to its plant in San Luis Potosi, where it will make its [...]
Tories slam Khan over zero strikes vow and “woeful” understanding of London transport January 9, 2017 London mayor Sadiq Khan has been slammed by London and home counties Tories over today's tube strike, with Khan accused of a “woeful” understanding of the capital's transport. Tube station workers have been on strike throughout the day, with many Londoners suffering extended commutes both to and from work. Although the strike formally finishes at [...]
Tesco to shed 1,000 members of staff from distribution business in streamlining move January 9, 2017 Tesco is set to lay off 1,000 members of staff from its distribution network as part of a wider streamlining programme. The proposed changes will reduce the number of its distribution centres in the UK from 25 to 23 and will result in 1,000 redundancies. However, the move will also create 500 new jobs, leaving a net [...]
Fear not commuters: Apparently nearly 70 per cent of Tube stations are open January 9, 2017 Commuters might have battled their way into work this morning due to a 24-hour Tube strike, but Transport for London (TfL) has said nearly 70 per cent of Tube stations are open. Yes, really. TfL has been trying to lessen the chaos, and says it's running a limited service on nine out of 11 Tube [...]
24-hour Tube strike disruption to cost the capital tens of millions January 9, 2017 Commuters might've had a miserable journey into work this morning, and businesses haven't been enjoying the 24-hour Tube strike much either. The industrial action, organised by the Rail, Maritime and Transport (RMT) union and The Transport Salaried Staffs' Association (TSSA), has resulted in a plethora of station closures and disruption across the capital. This has [...]
Ferrexpo’s share price pops on record iron ore pellet sales and cash turnaround update January 9, 2017 Shares in FTSE 250-listed miner Ferrexpo lifted more than four per cent in afternoon trading after the Ukraine-based group reported record sales and a bolstered balance sheet. Last year, Ferrexpo sold 11.7m tonnes (mt) of iron ore pellets, which are used in steelmaking, up from 11.3mt in 2015, the group said in a trading update today. [...]
Turkey business Bernard Matthews faces pension probe January 9, 2017 The pensions lifeboat is looking into the retirement plans of a turkey company that went into administration last year. Bernard Matthews was acquired from private equity firm Rutland Partners by 2 Sisters in September. 2 Sisters, whose chief executive Ranjit Boparan is known as the “chicken king”, agreed the deal under a pre-pack administration, meaning it bought [...]