Commuters braced for another rail fare hike August 7, 2019 Commuters are braced for a three per cent rail fare hike next week, despite a slump in the punctuality of trains. The rail industry is expected to announce next Wednesday that rail fares will increase by about three per cent, pegged to the Retail Price Index (RPI). Read more: MPs call on government to scrap [...]
Ineos on the hunt for new auditor after dropping PwC in wake of tax fallout August 7, 2019 UK energy giant Ineos is reportedly dropping PricewaterhouseCoopers (PwC) as its auditor amid speculation of a major tax row between the two sides. Ineos, which is owned by British billionaire Jim Ratcliffe, is on the hunt for a new accountancy group to replace the big four beancounter, according to Sky News. Read more: Ineos plans [...]
Standard Life Aberdeen profits down despite asset increase August 7, 2019 Standard Life Aberdeen has seen a modest increase in assets under management and a slow in outflows but this has failed to stop its profits from dropping in the first half. The figures The asset manager reported adjusted pre-tax profits of £280m for the first half of the year, down from £311m for the same [...]
UK M&A deal values more than halve as global tensions take their toll August 6, 2019 The value of merger and acquisition (M&A) deals in Europe slumped during the first six months of 2019, as geopolitical concerns took their toll on the continent’s financial services industry. In the UK investors completed 97 deals totalling £6.3bn over the first half of 2019, plunging by more than half from £13.5bn when 103 deals [...]
Neil Woodford offloads stake in Eurocell amid fire sale August 6, 2019 Neil Woodford has sold off his entire stake in Eurocell as the under-fire stockpicker battles to shore up the health of his own troubled equity income fund. The former star investor dropped his 16 per cent holding in the plastic window and door firm Eurocell last week, ramping up his fire sale after a torrid [...]
Snap looks to raise $1bn through convertible bonds August 6, 2019 Snap, the company behind messaging app Snapchat, today said it will raise $1bn (£823bn) through convertible bonds to fund investment in its platform and potential acquisitions. The social media firm posted a surge in revenue and user numbers in the second quarter after investing in mobile gaming and AR features. Read more: Snap boosts revenue [...]
Watchdog tells firms to go ‘above and beyond’ law to co-operate in investigations August 6, 2019 The fraud watchdog has told firms they will need to go “above and beyond what the law requires” if they want to co-operate with its investigations. Guidance of corporate co-operation released by the Serious Fraud Office (SFO) states that firms need to be willing to identify any individuals suspected of wrongdoing “regardless of their seniority [...]
Users of Gospel Oak to Barking line get month of free travel following delays August 6, 2019 Users of a London Overground line that has been beset by delays and setbacks have been given a month of free travel as compensation. London mayor Sadiq Khan requested free travel for the users of the Gospel Oak to Barking line, which will now be in place from 31 August to 1 October. Read more: [...]
Ryanair passenger numbers climb to 14.8m in July August 6, 2019 Ryanair’s passenger numbers grew to 14.8m In July, a nine per cent increase on the same period the year before. Ryanair carried 14.2m passengers, while Lauda, the low-cost Austrian airline acquired by Ryanair, carried 600,000. Read more: Ryanair boss Michael O’Leary warns of job losses over Brexit and Boeing woes Ryanair operated over 81,000 scheduled flights [...]