Mark Carney on climate change: Capitalism is part of the solution July 31, 2019 Bank of England governor Mark Carney has swung to the defence of capitalism over its role in tackling climate change, saying that the financial system is “part of the solution” in dealing with current environmental challenges. The head of Britain’s central bank said last night that “capitalism is part of the solution and part of [...]
Ryanair boss Michael O’Leary warns of job losses over Brexit and Boeing woes July 31, 2019 Ryanair boss Michael O’Leary has warned staff that hundreds of jobs could be lost as the airline reels from a decline in earnings and the grounding of the Boeing 737 Max aircraft. In a video sent to workers and seen by Bloomberg, the airline chief executive told staff that Ryanair needs 900 fewer pilots and [...]
Emily Thornberry: Labour would be ‘off our rockers’ not to campaign for Remain July 31, 2019 Emily Thornberry has said Labour would be “off our rockers” not to campaign to remain in the EU regardless of whatever Brexit deal was negotiated. The shadow foreign secretary said any Brexit deal – whether it was one negotiated by the Tories or Labour – should be put before a public vote, and that Labour [...]
Funeral firm Dignity suspends dividend as deaths slump July 31, 2019 Funeral firm Dignity suspended its dividend today as a fall in the number of deaths hit its results. In the six months to 28 June revenue fell 12 per cent to £153.3m compared to the same period last year. Operating profit nearly halved, falling 46 per cent to £28m, with basic earnings per share dropping [...]
Lloyds Banking Group misses profit targets as £650m PPI provisions weigh heavy July 31, 2019 Lloyds Banking Group has undershot analyst profit expectations for the first half, with a £650m provision for payment protection insurance (PPI) pay outs denting its earnings. The bank posted pre-tax profit of £2.9bn, falling short of the analyst consensus of £3.45bn. Read more: Lloyds to pay £140m to settle Standard Life Aberdeen row The bank [...]
UK leads EU venture capital, but Brexit could threaten its dominance July 31, 2019 The UK is continuing to dominate European venture capital (VC) deals thanks to a rise in mega rounds but uncertainty over the movement of talent post-Brexit could hit the sector hard, a new report has cautioned. UK VCs totalled 63 per cent of Europe-wide deals during the first half of the year, driven by a [...]
Boris Johnson at odds with Leo Varadkar over Irish backstop July 30, 2019 Boris Johnson and his Irish counterpart Leo Varadkar are at odds over how to solve the Brexit impasse, with Leo Varadkar stating that the EU was united in its insistence that the withdrawal agreement could not be reopened. The Prime Minister held a phone call with Varadkar today, in which the two leaders discussed Brexit. [...]
Lufthansa earnings drop amid EU price war July 30, 2019 Lufthansa has seen its second quarter earnings plummet amid a price war with rivals based in Germany and Austria and “persistent overcapacities” in the airline market. The figures Adjusted earnings before tax dropped 25 per cent from €1bn (£91.6m) to €754m, The airline said this was because fuel costs were €255m higher than they were [...]
MPs attack government over lack of post-Brexit investment policy July 30, 2019 MPs have strongly criticised the government for failing to prepare a policy on international investment agreements ready for Brexit, which the new administration has pledged will happen “come what may” on 31 October. Read more: Dominic Raab: Britain ‘turbo-charging’ no-deal Brexit preparations The International Trade Committee (ITC) said it was “alarmed” that ministers have not [...]