Shaun Bailey confirms he will increase Tube fares – but says a price hike is already coming September 5, 2019 Tory mayoral candidate Shaun Bailey has confirmed he would put up Tube fares after saying the current mayor of London, Sadiq Khan, would do the same. Bailey, who is looking to replace Khan as London mayor in next year’s election, said a Transport for London (TfL) fare hike was a “done deal”. Read more: Shaun [...]
Grant Thornton set for scrutiny as Patisserie Valerie handed to liquidators September 5, 2019 Embattled auditor Grant Thornton is set to face renewed scrutiny as Patisserie Valerie’s liquidators prepare to pursue claims against third parties connected to a multi-million pound hole in the cafe chain’s finances. Administrators KPMG will pass the case on to FRP Advisory later this month. Read more: Patisserie Valerie appoints administrators for Grant Thornton probe [...]
Brexit: What do the public think will happen next? September 5, 2019 No-deal Brexit is the most likely outcome from parliament’s current stalemate, according to the public. The UK is expected to crash out of the EU without a deal, 72 per cent of Brits believe, Yougov’s survey of 1,639 people found. The pollster asked people what outcomes they believe are most realistic, rather than what outcome [...]
Investor backlash over pay at Dixons Carphone AGM September 5, 2019 Electrical goods giant Dixons Carphone faced an investor backlash at its annual general meeting (AGM) this afternoon, following controversy over share awards handed out to its chief executive. Almost 17 per cent of shareholders voted against proposals to approve the annual pay report for directors at the firm and re-elect boss Alex Baldock as a [...]
Banks braced for rise in PPI costs after surge of last-minute claims September 5, 2019 Britain’s banking sector is bracing itself for a multi-billion pound balance sheet backlash from a worse-than-expected rush of payment protection insurance (PPI) complaints that were lodged late last month. Some of the country’s largest banks are facing huge costs following a stampede of consumers making claims for mis-sold PPI in the run-up to the August [...]
British Airways strikes: Pilots could call off action if BA considers pay offer September 5, 2019 British Airline pilots who are threatening to strike next week have said the industrial action could be averted if the airline considers a new pay offer it has put forward. Pilots who are members of the British Airline Pilots’ Association (Balpa) are due to strike on 9, 10 and 27 September but have said they [...]
CYBG share price plunges after warning of potential £450m hit from PPI September 5, 2019 CYBG’s share price crashed by nearly 20 per cent in early morning trading, as investors reacted to the bank’s news last night that it would take a £300m-£450m hit from payment protection insurance (PPI) costs. Clydesdale Bank, which also owns the Yorkshire Bank and Virgin Money brands, revealed yesterday evening that it expects to increase [...]
Dixons Carphone posts slump in mobile phone sales September 5, 2019 Dixons Carphone posted a double-digit drop in mobile phone sales during the last quarter, but said today that it was still on track to meet its financial guidance for the year. The consumer electronics giant, which has been hit by a growing volume of customers keeping their handsets for longer and going for SIM-only deals [...]
HS2 needs a radical rethink to give Britain better connectivity – CityAM : CityAM September 5, 2019 HS2 has never had an easy ride. Fiercely opposed from the beginning by MPs from all parties, it has been lucky to survive up until now. Following the news this week that its budget is to increase by another £22bn and it will delayed by seven years, the prognosis looks terminal.Clearly, HS2 should not go ahead [...]
Woodford Trust and Metro Bank kicked from FTSE 250 list September 4, 2019 Neil Woodford’s investment trust and high street lender Metro Bank have been booted out of the FTSE 250 list of the 101st to the 350th largest listed companies in Britain. Read more: Ally quits Neil Woodford’s trust Also kicked from the list were retailer Ted Baker and shopping centre owner Intu Holdings, whose market capitalisations [...]