Bechtel removes legal block to allow HS2 to sign £1.3bn contract August 28, 2019 American engineering giant Bechtel has withdrawn its legal bid to prevent HS2 signing a contract for one of its key London stations. HS2 has been unable to sign a £1.3bn contract for Old Oak Common station with Balfour Beatty, Vinci Construction and Systra ever since rival bidder Bechtel launched a legal challenge over the entire [...]
Brexit turmoil takes toll on FTSE housebuilder share prices August 28, 2019 Britain’s housebuilding stocks fell across the board this morning as Brexit turmoil dented investor confidence in the property sector. FTSE developer giants including Berkeley Group, Taylor Wimpey and Persimmon all suffered a drop in their share price as markets reacted to the news that Boris Johnson is planning to suspend parliament next month. Read more: [...]
Brexit: Prime Minister asks Queen to suspend parliament in September August 28, 2019 Boris Johnson has asked the Queen to suspend parliament for more than a month, reducing the amount of time that rebels have to stop a no deal Brexit. The Prime Minister this morning requested that the Queen end the current parliamentary session “in the second sitting week in September” and return on 14 October, when [...]
Forget glitzy vanity projects like HS2, here’s what we could do instead August 28, 2019 Until recently, Crossrail was cited as an example of that miraculous phenomenon: a government infrastructure project running on time and on budget. We now know that Crossrail has run off track; it is £3bn over its 2010 budget, and will open more than two years late. The much maligned HS2 project came with none of [...]
Consumer group warns shoppers could be ripped off by supermarket deals August 28, 2019 Shoppers are at risk of being ripped off, a consumer watchdog has warned, after an investigation uncovered misleading discounts and special offers at major UK supermarkets. The probe revealed that some supermarkets offer multi-buy deals that cost more, discounts that refer to a price that is not the most recent and offers in which items [...]
Deutsche Boerse offices raided in German tax probe August 27, 2019 Deutsche Boerse, the operator for Frankfurt’s stock exchange, has been searched as part of an investigation into a German tax fraud scandal. Public prosecutors have combed through the premises of Deutsche Boerse’s subsidiary Clearstream over a share-trading fraud case in which the German government was allegedly tricked into paying billions of euros in tax rebates. [...]
Munich airport reopens terminals following security breach August 27, 2019 Terminals 1 and 2 at Munich airport have reopened after four hours following a security breach earlier this morning. Approximately 130 flights were cancelled after federal police ordered the cessation of passenger handling in Terminal 2 and in two areas of Terminal 1 after a passenger opened an emergency exit door to Terminal 2 this [...]
Regulator raps British Airways over flight cancellation confusion August 27, 2019 British Airways has been rebuked by the UK’s aviation regulator for telling customers that they will be unable to travel on strike days early next month. BA pilots who are members of the British Airline Pilots’ Association (Balpa) are set to strike on 9, 10 and 27 September in a row over pay and working [...]
Creditors of Gulf Marine Services look at hiring adviser as part of debt negotiations August 27, 2019 Lenders to London-listed group Gulf Marine Services (GMS) are reportedly nearing the appointment of an adviser to boost their efforts in renegotiation talks over the firm’s current debt terms. Abu Dhabi Islamic Bank, HSBC, and Abu Dhabi Commercial Bank are among the creditors looking at picking an adviser, according to Reuters, which reported that two [...]
Mike Ashley faces shareholder rebellion at Sports Direct AGM August 27, 2019 Mike Ashley could face a shareholder revolt at Sports Direct’s annual general meeting next month after two proxy advisors recommended investors vote to oust him from the board. Pensions and Investment Research Consultants (Pirc) and Glass Lewis have both urged shareholders to oppose the re-election of Ashley, the firm’s chief executive and founder, at a [...]