Investec warns on profits amid higher costs September 20, 2019 Anglo-South African business group Investec warned on its profits for the first half of 2019 this morning as challenges in its specialist UK banking business dragged down the group. The firm expects headline earnings per share to be roughly 15-18 per cent lower for the six months to 30 September, adding that it would take [...]
Alison Rose confirmed as new RBS boss September 20, 2019 Royal Bank of Scotland confirmed this morning that Alison Rose has been appointed as the firm’s first female chief executive. Rose, who is currently deputy chief executive of Natwest and the boss of the bank’s commercial arm, is replacing Ross McEwan at the helm of the company. Read more: RBS ‘returns from the wilderness’ with [...]
London’s top earners are sign of ‘sick economy’, says Corbyn September 19, 2019 Labour leader Jeremy Corbyn has taken aim at wealthy Londoners, arguing the capital’s inequality is a sign of “a sick economy”. Ahead of the party conference, Labour wonks have analysed Office for National Statistics (ONS) data, finding that the richest 10 per cent of Londoners own 61 per cent of the city’s total wealth. The [...]
Ryanair threatening to remove pilot perks over strikes, union claims September 19, 2019 Striking Ryanair pilots have accused the airline of threatening to remove their perks if they take part in this month’s planned walkout. Ryanair pilots who are members of the British Airline Pilots’ Association (Balpa) began their strike action yesterday, which is due to continue on 21, 23, 25, 27, and 29 September. Read more: Ryanair suffers [...]
Supreme Court decision expected early next week September 19, 2019 The Supreme Court has said it will publish its ruling on Boris Johnson’s prorogation of parliament early next week, giving critics of the move hope that MPs could be back in work before October. The three-day hearing, which included a submission from former Prime Minister John Major, wrapped up this afternoon with a final call [...]
Airbnb plans to go public in 2020 September 19, 2019 Airbnb has revealed its intention to become a publicly-traded company next year. In one of the most prominent market listings scheduled for next year, the property giant has said today that it is looking to float in 2020. Read more: Wework delays IPO The move could see Airbnb, which is an online marketplace for lodging, [...]
LSE boss David Schwimmer feels ‘very good’ about Refinitiv deal after snubbing Hong Kong offer September 19, 2019 The boss of the London Stock Exchange has said he feels “very good” about merger plans with Refinitiv, in a fresh sign of the group’s reluctance to accept a separate takeover offer from its Hong Kong rival. LSE chief executive David Schwimmer expressed his enthusiasm for a $27bn (21.6bn) acquisition of data provider Refinitiv at [...]
Grant Shapps says rail firms should be rewarded for running trains on time September 19, 2019 Transport secretary Grant Shapps has suggested rail firms should be given financial rewards for running trains on time, admitting that they still get paid when services are late. Shapps said rail firms currently operate in a “dysfunctional and flawed” system where “they can not run trains on time and still get paid”. Read more: A [...]
A third of trains were delayed over past year September 19, 2019 Over a third of trains failed to arrive at stations on time over the past year, according to figures that use a more accurate measure of punctuality. New statistics released by the rail regulator, the Office of Rail and Road (ORR), show that 64.7 per cent of stations were arrived at one time in the [...]
Tilney and Smith & Williamson strike £1.8bn wealth management and professional services deal September 19, 2019 Investment group Tilney and professional services firm Smith & Williamson said today they have agreed a merger which will create a combined business with an enterprise value of £1.8bn. The combined firm will be called Tilney Smith & Williamson and have revenue of approximately £500m and profit of around £150m, the firms said. Tilney is [...]