Brexit bargains: Foreign buyers snap up UK companies in M&A frenzy September 3, 2019 The value of foreign takeover deals in the UK have jumped over the last quarter, nearly doubling on the previous three-month period after several notable mergers were inked in the City. Read more: UK M&A deal values more than halve amid global tensions Inward mergers and acquisitions, whereby an overseas company acquires a UK firm, [...]
Ryanair and Wizz Air enjoy passenger jump in August September 3, 2019 Ryanair and Wizz Air both enjoyed an uptick in passenger numbers in August, with the latter enjoying a record-breaking month. Ryanair passenger traffic grew to 14.9m last month, up eight per cent on the previous year. In June it carried 14.8m customers. Read more: Ryanair flights continue as normal as pilots kick off three-day strike [...]
Cathay Pacific suspends cabin crew following issue with oxygen bottles September 3, 2019 Cathay Pacific has suspended some members of its cabin crew following the discovery that some oxygen bottles were found to be depleted in two of its recent flights. The airline said some portable oxygen bottles on a flight from Toronto to Hong Kong and Bali to Hong Kong were found to be “discharged or partially” [...]
Ferguson to split UK and US operations as chief executive heads for the exit September 3, 2019 Ferguson revealed plans to separate its UK and US operations this morning while also announcing the departure of its boss. The plumbing and heating giant said that it will demerge the company’s two arms, pending on shareholder approval, to create an independent listed company called Wolseley which will focus exclusively on customers in the UK. [...]
Putney MP Justine Greening to stand down at General Election September 3, 2019 Conservative MP Justine Greening has said she will not stand at the next election, telling Prime Minister Boris Johnson she is “deeply concerned” about his approach over Brexit. During her 14 years in parliament Greening, the MP for Putney, Roehampton and Southfields, has served as education secretary, transport secretary and international development secretary. She was [...]
Online-only banks set for growth spurt but questions over profit linger September 3, 2019 The UK’s digital-only banks are set to treble their sales in the year ahead, as they ramp up their efforts to challenge high street rivals and disrupt the retail lending market. Despite widespread concerns over their long-term profitability, fast-growing online lenders are on track to amass 35m new customers globally over the next 12 months, [...]
Brexit: PM to call early election if rebel alliance succeeds September 2, 2019 Boris Johnson will ask MPs to back a General Election for 14 October if the rebel alliance successfully seize control of parliament tomorrow. On the steps of Downing Street earlier this evening, the Prime Minister told the public: “I don’t want an election; you don’t want an election.” But a senior government source later confirmed [...]
Boss Christian Sewing to buy £19,000 of Deutsche Bank shares every month until 2023 September 2, 2019 The boss of embattled German lender Deutsche Bank will spend 15 per cent of his monthly net salary buying shares in the company. As part of a pledge earlier this summer, chief executive Christian Sewing will buy €21,250 (£19,339) of shares in the bank on the 22nd of each month until the end of 2022, [...]
Berlusconi’s Mediaset braced for showdown with Vivendi over merger plans September 2, 2019 French conglomerate Vivendi is gearing up for a showdown with Mediaset, the media empire controlled by former Italian prime minister Silvio Berlusconi, over a proposed mega-merger. Mediaset shareholders will vote on Wednesday over plans to combine the company’s Italian and Spanish businesses into a new European media giant. Read more: Telecom Italia backs chief executive [...]
Sadiq Khan urges London MPs to do ‘whatever it takes’ to block no-deal Brexit September 2, 2019 Sadiq Khan has urged London MPs to do “whatever it takes” to stop a no-deal Brexit as parliament gears up for a showdown with Boris Johnson this week. The mayor of London, who has campaigned for a second referendum or people’s vote, has written to all 73 MPs in the capital to consider all options [...]