Nearly 45,000 UK drivers have teamed up for legal action against Volkswagen over emissions scandal with hearing set for 27 November November 16, 2017 Nearly 45,000 motorists have now teamed up in a class action lawsuit against Volkswagen in England and Wales, with a pre-trial hearing scheduled for later this month. The consumer group has announced today that the next hearing in the UK legal action against VW will take place in the High Court on Monday 27 November. [...]
Investec profits up despite political clouds in the UK and South Africa November 16, 2017 Financial services firm Investec reported increased profits today as funds under management rose, in spite of political uncertainty in its two main markets, the UK and South Africa. Statutory operating profits rose by 11.8 per cent year-on-year in the first half of its financial year, although that represented a rise of 1.1 per cent on [...]
Crossrail latest: Elizabeth Line train rollout stalls on Liverpool Street to Shenfield route November 16, 2017 Progress on the rollout of the first Elizabeth Line trains has stalled, with Transport for London (TfL) pushing back a target to have 11 trains in passenger service by the autumn. The intention was to roll out 11 trains on the Liverpool Street to Shenfield route, currently operating as TfL Rail by September, but TfL [...]
Uber licence appeal could take years, says London mayor Sadiq Khan November 16, 2017 Uber’s appeal against a decision not to renew its licence in the capital is likely to go on for years, the Mayor of London Sadiq Khan has said. “My understanding is that it could go on for a number of years,” said Khan, speaking at Mayor’s Question Time on Thursday morning. Read more: Uber’s targeting [...]
A third of tech startups have lost potential foreign hires because of Brexit November 16, 2017 Brexit is beginning to bite for tech startups, with a third of innovative firms saying they have lost a potential hire from outside the UK. It comes just a day after the Prime Minister Theresa May promised an additional 1,000 visas for talented tech workers from outside the EU. The new research comes from Tech [...]
Just Eat share price inches up as competition watchdog clears takeover of Hungryhouse November 16, 2017 Just Eat’s takeover of Hungryhouse has been officially cleared to go ahead by the competition regulator. The Competition and Markets Authority (CMA) said today that a group of independent panel members found that the merger does not raise competition concerns. In the CMA’s provisional findings, published last month, it stated that Hungryhouse presently provides limited [...]
Royal Mail share price rises after getting a £106m profit boost from the taxman from decision to close its pension scheme November 16, 2017 Royal Mail profits today received a £106m boost from the taxman as a result of the postal giant’s controversial decision to close its mammoth pension scheme. Revenue for the first half of the year rose two per cent, with profit after tax almost doubling to £168m. Chief executive Moya Greene said the results capped “a [...]
Labour: Use Budget to spend, not save Hammond and May’s jobs November 15, 2017 Shadow chancellor John McDonnell is calling on Philip Hammond to go on a government spending spree after “seven years of Tory economic mismanagement”. Jeremy Corbyn’s left hand man will today sett out Labour’s five demands for next week’s Budget saying it must not be “desperately designed to save the jobs of a weak Prime Minister [...]
Goldman banker: UK will be like “Cuba without the sunshine” under Labour’s Jeremy Corbyn November 15, 2017 A Goldman Sachs banker has said the UK would be like “Cuba without the sunshine” if Jeremy Corbyn becomes Prime Minister. Speaking at a private equity conference in Amsterdam, investment banker Bobby Vedral said that Theresa May’s government was so chaotic it could collapse, leading to a Corbyn-led administration. Read more: Sadiq Khan and Jeremy [...]
Credit rating giant S&P says UK banks are now better placed to deal with Brexit November 15, 2017 The outlook for British banks has brightened according to a leading credit rating agency, with lenders now in a better position to cope with the run-up to Brexit. Standard and Poor’s said last night it has revised the negative outlook on several large UK banks “mostly to stable, and in some specific cases to positive,” [...]