Royal Mail faces regulator Ofcom fines threat after blaming industrial dispute for missing service targets May 11, 2018 Royal Mail today blamed a bitter spat with postal workers for failing to meet its annual quality of service targets. Postal regulator Ofcom, which said it was “concerned that Royal Mail has fallen short” will now consider whether to slap it with fines of up to 10 per cent of “relevant turnover”. Last year Royal [...]
Royal Bank of Scotland boss Ross McEwan rejects suggestions he will quit: ‘The job’s not done yet… I’d like to be around a little longer’ May 11, 2018 Royal Bank of Scotland chief executive Ross McEwan has hit back at reports he is preparing to step down, today insisting he wants to remain at the helm until 2020. The New Zealander wants to oversee the return of the state-backed bank back to private ownership. Yesterday RBS announced it had finally ticked off one [...]
Ranked: Britain’s richest hedge fund managers – Michael Platt prospers, but it’s hard times for Harding May 11, 2018 The founder of BlueCrest Capital Michael Platt has retained his crown as the richest hedgie in the UK. His wealth grew quicker than any other hedge fund manager’s in the top 20, increasing by £600m to take his fortune to around £3bn. Chris Hohn, the activist hedgie who last year went to war with London [...]
Promoter Eddie Hearn vows to build strongest stable in boxing after Matchroom strikes $1bn USA streaming deal with DAZN May 11, 2018 Boxing promoter Eddie Hearn has vowed to build the strongest stable in the sport after agreeing a $1bn (£740m) US broadcasting deal with streaming platform DAZN. The eight-year deal, the biggest of its kind in boxing history, will see Hearn’s recently established American operation Matchroom USA stage 16 fights a year in the country exclusively [...]
Npower hikes energy prices for more than one million people May 11, 2018 Big six energy company Npower has announced today that it is boosting prices for over one million customers by 5.3 per cent. The energy giant said that the price rises would add £64 to the average dual fuel annual energy bill. The price hike, which will take effect from 17 June, consists of a 4.4 [...]
Tories slam Corbyn’s ‘laughable’ Navy claims May 11, 2018 The Conservative Party has described Labour leader Jeremy Corbyn’s call today for the UK to build three new ships in Glasgow as “laughable”. James Cleverly, deputy chairman of the Conservative Party, said: “It’s laughable that Jeremy Corbyn is trying to paint himself as a defender of Britain.” In a speech in Glasgow today Corbyn is [...]
Homeowners near Crossrail 2 stations could be hit by new tax May 11, 2018 People living near Crossrail 2 stations could be hit by a new tax, under proposals being considered by Transport for London (TfL). The proposed £31bn project will start from Cheshunt in Hertfordshire and run through London and then out to stations in Surrey such as Epsom, Hampton Court, Chessington South and Shepperton. Property magazine Estates [...]
Sadiq Khan floats ‘junk food’ advertising ban on entire TfL network May 11, 2018 London Mayor Sadiq Khan has today proposed a ban on “junk food” across the entire Transport for London (TfL) network. The move is intended to tackle the “ticking timebomb” of childhood obesity in London. Khan said: “Child obesity in London is a ticking timebomb and I am determined to act. If we don’t take bold [...]
Elon Musk’s SpaceX calls off Falcon 9 rocket launch at the last minute – but will try again today May 11, 2018 Elon Musk’s SpaceX programme will today retry the launch of a new rocket it hopes to will eventually carry astronauts into space, after last night sensationally pulling plans seconds before lift-off. The updated Falcon 9 rocket was due to take off shortly before 11pm UK time. But an auto-abort was triggered one minute before the [...]
Outsourcer Interserve’s share price plummets on news it’s being investigated by the FCA over its handling of inside information May 11, 2018 Construction outsourcer Interserve, which suffered a torrid 2017 after issuing a string of profit warnings, today revealed its darkest days may not yet be behind it. The business announced it is being investigated by the Financial Conduct Authority (FCA), in connection with its handling of inside information and its market disclosures when it exited its [...]