Fifth business secretary in a decade after bruising reshuffle February 13, 2020 The business community will today start building ties with its fifth secretary of state in a decade, after yesterday’s bruising reshuffle saw Andrea Leadsom one of the first to be sacked. Leadsom, who was widely expected to leave Boris Johnson’s Cabinet, is being replaced by former international development secretary Alok Sharma. Although she was not [...]
Strong homes performance keep MJ Gleeson on track despite loss February 13, 2020 Urban housing regeneration firm MJ Gleeson has reported strong performance from its homes division for the half-year. The company registered an operating profit of £15.9m in this sector during the first half of the year 2019/20, up from £14m in the comparable six month period, a 13 per cent increase. However, overall profit after tax [...]
Who is Rishi Sunak? What you need to know about the new chancellor February 13, 2020 Rishi Sunak has received a major promotion from the shock resignation of Sajid Javid as chancellor during today’s reshuffle – but who is he? The Richmond (Yorks) MP who until today was chief secretary to the Treasury has been in parliament for just over four years, but he has taken a well-trodden path to get [...]
Sajid Javid resigns as Downing Street turf war erupts February 13, 2020 Chancellor Sajid Javid has resigned as the turf war between the two Downing Street teams erupts, prompting the pound to briefly fall. Javid was thought to be personally safe as part of today’s reshuffle. However this morning he was asked to fire two of his special advisers Mats Persson and Sam Coates. The chancellor refused [...]
FTSE falls 1.5 per cent as Centrica losses weigh down index February 13, 2020 The FTSE 100 fell 1.5 per cent at 7,451.11 this morning as a 15 per cent drop in Centrica shares dragged it down due to hits from a number of one-off impairment charges relating to its oil & gas assets and nuclear power plant stake. London’s premier index was also hit by falls of over [...]
British Gas owner Centrica falls to £1.1bn loss as price cap bites February 13, 2020 British Gas owner Centrica reported a £1.1bn loss before tax today as the utilities giant suffered from the implementation of new energy tariff cap for UK households and lower commodities prices. Shares in the firm plunged 17 per cent as the firm swung from profit of £575m in 2018. The figures Having posted statutory profit [...]
Ofcom’s powers expanded to include social media regulation February 11, 2020 Broadcasting watchdog Ofcom is expected to be handed the responsibility of regulating internet platforms tomorrow, as the government publishes its response to a public consultation on online safety measures. Digital media and culture secretary Nicky Morgan will announce Ofcom’s expanded role tomorrow morning, which will see the watchdog hold tech companies to account over the [...]