General election 2019: Shadow chancellor John McDonnell defends Labour’s tax plans November 22, 2019 Labour’s shadow chancellor John McDonnell has this morning defended his party’s plans to reverse corporation tax cuts and increase tax on high earners. McDonnell was grilled on BBC’s Breakfast show regarding the suggestions from the Institute of Fiscal Studies (IFS) that such changes would affect all individuals. The 68-year-old said there was “no evidence” that [...]
Jet2 Holidays owner warns ‘much will depend’ on Brexit deal November 21, 2019 The parent of Jet2 has warned “much will depend” on whether the government gets a Brexit deal for the holiday business’s prospects in the coming years. Yorkshire-based Dart Group said it was unclear whether Jet2’s demand would remain “buoyant” without knowing how negotiations with the EU will pan out. Nevertheless, it reported solid trading over [...]
Bosch cuts ties with Pitch@Palace as Prince Andrew stays on November 21, 2019 Bosch is the latest company to end its association with Prince Andrew’s Pitch@Palace scheme, City A.M. has learnt. A spokesperson for Bosch confirmed: “While Bosch will continue to support the next generation of entrepreneurial talent through various means, the company has decided against renewing its sponsorship with Pitch@Palace. The current contract is due to expire [...]
Buckingham Palace confirms Prince Andrew will continue to work on Pitch@Palace scheme November 21, 2019 Buckingham Palace this morning confirmed that Prince Andrew will continue to work on his Pitch@Palace initiative, as was first reported by City A.M. last night. A source close to Pitch@Palace told City A.M. that it was “business as usual” at the programme, which connects entrepreneurs with investors. Read more: Entrepreneurs back Pitch@Palace as pressure grows [...]
General Election 2019: Conservatives rule out resurrecting dementia tax November 21, 2019 The Conservatives have ruled out resurrecting the so-called dementia tax in the party’s new manifesto, after the controversial policy effectively torpedoed Theresa May’s campaign. Health secretary Matt Hancock said the country needs a “long-term solution for social care that rises above party politics”, acknowleding that successive governments have failed to get to grips with the [...]
British American Tobacco shares jump after US shelves tough regulations November 21, 2019 Shares in British American Tobacco have surged this morning after US regulators shelved plans to force tobacco firms to slash the amount of nicotine in cigarettes. The proposal was unveiled by the US Department of Health and Human Services two years ago, but was put on hold yesterday, according to a regulatory document. Read more: [...]
Prince Andrew steps back from Royal duties but will continue business role November 20, 2019 PRINCE Andrew last night said he will step back from Royal duties as corporate sponsors continued to sever ties with his entrepreneurship schemes following his widely criticised BBC interview. The announcement from the palace came hours after two more FTSE 100 companies abandoned the prince amid the fallout from his Newsnight grilling over links to [...]
Duke of York to step back from public duties November 20, 2019 Prince Andrew has announced that he will be stepping back from public duties for the “foreseeable future.” In a statement released this afternoon, the Duke said that “it has become clear to me over the last few days that the circumstances relating to my former association with Jeffrey Epstein has become a major disruption to [...]
House of Fraser accused of reversing fur ban November 20, 2019 Retail tycoon Mike Ashley is facing accusations that he has overturned a ban on real fur at House of Fraser. Customers posted images on social media that appeared to show fur-lined coats found in store, despite the company’s previous no-fur stance. Read more: Sports Direct hit by ‘terminal’ House of Fraser problems Some shoppers pledged [...]
Norwegian Air appoints new chief executive to lead it back to profit November 20, 2019 Norwegian Air has named Jacob Schram, a senior adviser at management consultant McKinsey, as its new chief executive. Schram, 57, takes up the mantle as the low-cost flyer struggles to soothe investors’ concerns about its finances. The Norwegian national will take over on 1 January. Read more: Norwegian Air cuts routes to US from Ireland [...]