Links of London collapses putting hundreds of jobs at risk October 9, 2019 Links of London has collapsed into administration in a further blow to the struggling UK high street, putting hundreds of jobs at risk. The retailer appointed Deloitte as administrators after it ran out of cash before it was able to secure a sale or restructuring plan. Read more: Mike Ashley makes move for Links of [...]
Shareholders approve Greene King takeover deal October 9, 2019 Shareholders have given the green light to the £2.7bn acquisition of British pub chain Greene King by Hong Kong’s richest man. At an extraordinary general meeting (EGM) today, 99.38 per cent of CK Asset Holdings shareholders voted to back the deal, with just 0.61 per cent opposing the takeover. Read more: Beer sales slip at [...]
Barnier says Brexit deal ‘very difficult’ October 9, 2019 The EU’s chief negotiator has said a Brexit deal is now “very difficult, but possible” following a dramatic day of negative briefing against Brussels. Michel Barnier told reporters this morning that a deal before the 31 October deadline was looking unlikely, echoing comments made by Irish Taoiseach Leo Varadkar and new president of the European [...]
Why Hong Kong’s bid for London Stock Exchange was doomed from the start October 8, 2019 For the last month the chief executive of the Hong Kong bourse has been selling his £32bn takeover offer for the London Stock Exchange (LSE) as if it were the perfect love match. “We complete each other,” Charles Li told banking delegates in Canary Wharf. His amorous talk, however, has not been enough to convince [...]
HS2 would drive rail price increase and shut out smaller northern cities: ASI October 8, 2019 HS2 (High Speed Rail 2) will lead to increased ticket prices and reduce train access for smaller Northern cities, according to a new study from a leading London think tank. The Adam Smith Institute’s Don’t Railroad it Through report slams the “politically motivated” project and outlines a number of alternatives it says will be cheaper [...]
Johnson & Johnson battles reputation crisis amid opioid epidemic October 8, 2019 Pharmaceutical giant Johnson & Johnson is battling a reputation crisis worsened by its involvement in the opioid crisis sweeping the US, according to the latest research. The brand has fallen from 8th position in 2014 to 57th place this year on a ranking of 58 global pharmaceutical companies. Read more: Johnson & Johnson fined $572m [...]
US stocks open lower as fears of trade war escalation knocks confidence October 8, 2019 US stocks tumbled after the opening bell today as investor anxiety mounted ahead of crunch trade talks between Washington and Beijing. Optimism among traders was knocked this afternoon after the US blacklisted almost 30 Chinese groups from buying US-made goods. Read more: Sterling tumbles as Brexit deal hopes ‘snuffed out’ The tech-focused Nasqad index dipped [...]
London City Airport braces for Extinction Rebellion shutdown October 8, 2019 Extra police officers will be sent to London City Airport this week to counter an Extinction Rebellion attempt to shut it down. The activist group has revealed it plans to shut down the airport for three days beginning on Thursday. Read more: Extinction Rebellion offshoot occupies Smithfield meat market The shutdown is slated to start [...]
No-deal Brexit would have ‘significant impact’ on UK and EU economies, warns Allianz GI chief October 8, 2019 The UK leaving the European Union without a deal would have a “significant impact” on the economies of both, said head of Allianz Global Investors (AGI) Andreas Utermann. Utermann said a hard Brexit is possible “because the players involved in the discussion seem to be – at least in terms of how they are talking [...]