Pearson shares drop on gloomy outlook for US college textbook market January 17, 2018 Publishing group Pearson was among the companies leading a fall in the FTSE 100 this morning, after it issued a trading statement. While the firm said its profits would reach the top end of guidance at as much as £606m, it revealed it was still grappling with the US textbook sector. Sales in the unit [...]
Minister for Loneliness appointed in memory of Jo Cox MP January 17, 2018 Tracey Crouch has been appointed as the first minister for loneliness, a position created in memory of Jo Cox. Cox, who was murdered shortly before the EU referendum, worked to tackle loneliness during her time as an MP. The new ministerial role was suggested by the Jo Cox commission, a body set up to continue [...]
After Carillion collapse, Interserve share price fell 14 per cent on report ministers were “worried” January 17, 2018 Shares in Interserve have dropped as much as 14 per cent this morning after reports emerged that ministers have set up a team of officials to monitor the company following the collapse of rival Carillion. The Financial Times said MPs had been monitoring the support services firm since a September profit warning when Interserve’s shares [...]
Challenger bank Revolut and Thomas Cook have just launched a pay-per-day travel insurance service activated by your phone’s location services January 17, 2018 Another day, another insurtech idea. This time, challenger bank Revolut has launched a pay-per-day travel insurance plan which relies on a mobile phone’s geolocational services. The scheme, which Revolut claims to be the first of its kind, can be turned on and off from a user’s phone. When in use, it will use the phone’s [...]
Yesterday’s feeble US embassy opening represented no less than a snub from Donald Trump January 17, 2018 The opening of the capital’s new US embassy should have been all cheerleaders and marching bands. The Americans spent $1.2bn (£880m) on the ultra-secure new building, which includes a moat, a security ditch and a 15cm thick, bomb-proof glass facade. But after Donald Trump’s Twitter outburst last week, in which he mistakenly lambasted Barack Obama [...]
Screws turn on Carillion executives as business secretary Greg Clark weighs in on misconduct probe January 17, 2018 Pressure was mounting on Carillion’s former top brass last night after the government promised a thorough investigation into the actions of the failed firm’s executives. A probe by the Official Receiver was ordered to be fast-tracked and widened by business secretary Greg Clark. “Any evidence of misconduct will be taken very seriously,” he said. Cabinet [...]
Newcastle United takeover talks between Amanda Staveley and Mike Ashley fall through January 16, 2018 Prominent businesswoman Amanda Staveley and Newcastle United owner Mike Ashley have ended talks over a deal for the club which could have been worth as much as £250m. The deal fell through when Staveley refused to match Ashley’s valuation of the club, according to the BBC. Staveley’s fund, PCP Capital Partners, made an offer to [...]
FTSE 100 firm Informa in talks to buy London events rival UBM in £3bn deal January 16, 2018 London-headquartered publisher and events company Informa is in talks to buy rival UBM in a deal which could be worth as much as £3bn. A tie-up between the two firms would create the world’s largest business-to-business events company, with well over 11,000 employees at the two firms. The firms were forced to reveal the “preliminary [...]
Sam Allardyce’s Everton close to finalising £20m deal for Arsenal forward January 16, 2018 Arsenal misfit Theo Walcott is expected to complete a £20m move to Everton this week after undergoing a medical at the Merseyside club’s Finch Farm training base. Walcott’s 12-year stay at the Gunners appears to be at an end, while Everton look to have beaten off competition from the 28-year-old’s former club Southampton for his [...]
Bank of England says Brexit trade deal including the City is possible but warns of tensions with EU over investment banks January 16, 2018 A post-Brexit free-trade deal with the EU which includes financial services could be completed in three years, according to the Bank of England’s chief banking regulator, countering the view of the EU’s chief Brexit negotiator, Michel Barnier. Sam Woods, the Bank’s deputy governor in charge of the Prudential Regulation Authority, said it is “plausible” that [...]