Car dealer Pendragon swings to loss as it gives gloomy outlook for rest of year September 18, 2019 Car dealership firm Pendragon has posted a pre-tax loss of more than £32m as it cited “very challenging” market conditions that it did not expect would improve for the rest of the year. The figures Pendragon posted a pre-tax loss of £32.2m, down from a profit of £28.4m the previous year. Read more: Pendragon called [...]
Virgin Atlantic ups IAG war with teaser for new routes at Heathrow September 18, 2019 Virgin Atlantic has upped the stakes in its face-off with British Airways owner IAG, unveiling a raft of new routes it will launch if it wins more slots at Heathrow airport. Virgin has said it intends to add 84 destinations to its map in the UK, Europe and internationally when the third runway is complete [...]
Most retail landlords consider re-purposing property September 18, 2019 Most retail landlords are considering redeveloping their properties for other uses in a further blow for the struggling UK high street. In total, 18 per cent of landlords have already completed a re-purposing project and a further 75 per cent are considering making the move, according to a survey by estate agent Savills. Read more: [...]
Sadiq Khan’s Ulez charge cuts polluting vehicles by over a third and bags TfL £51m September 17, 2019 Sadiq Khan’s Ultra-Low Emission Zone (Ulez), has raked in £51m in its first four months while also reducing the number of polluting vehicles in central London by a third. The policy, which charges polluting vehicles £12.50 a day for entering into the zone, was launched in April by the London mayor. Since then, the number [...]
Top EU banking regulator moves to trade body September 17, 2019 One of Europe’s most senior banking regulators has been appointed as the chief executive of the Association of Financial Markets in Europe (AFME). Adam Farkas, who is currently executive director of the Paris-based European Banking Authority (EBA), is set to join the trade body in February next year. Read more: Banks cannot ignore the disruptors [...]
ECB’s Villeroy hints at closer EU integration after Brexit September 17, 2019 The governor of the Bank of France has suggested today that the European Union will move towards closer integration in the wake of Brexit. François Villeroy de Galhau, who is also a European Central Bank (ECB) board member, told business delegates in London that the bloc’s collective response to Britain’s departure might become a further [...]
City of London police chief urges banks to report cyber attacks after Wannacry ‘silence’ September 17, 2019 Major public companies decided not to report cyber attacks to the authorities during the worldwide Wannacry breach over fears that their reputations would be tarnished, according to the City of London’s police commissioner. Ian Dyson, who heads up the Square Mile’s police team, has urged banks to come forward with cyber incidents, claiming that some [...]
Thomas Cook delays crunch bondholder meeting over rescue deal September 17, 2019 Troubled travel firm Thomas Cook has secured more time for bondholders to agree to a £1.1bn rescue deal, with a crunch meeting now scheduled for next Friday. But shares fell further today after yesterday’s update to investors, dropping 3.6 per cent to just 4.5p. In the update, Thomas Cook said: “As part of the process [...]