1,700 jobs at risk as Ford may pull plug on plant June 5, 2019 Workers fear “disaster” as carmaker Ford prepares for talks tomorrow over the future of its engine plant in Bridgend. Unions will descend on the company’s Essex headquarters to discuss the future of the Welsh factory which employs 1,700. “If our worst fears are confirmed it will mean disaster for both our members in Bridgend and [...]
Sir Philip Green’s fashion empire hangs by a thread as CVA vote is delayed June 5, 2019 SIR PHILIP Green made a dramatic last-minute bid to stall the collapse of his retail empire tonight after postponing a crunch vote that threatened the future of his high street brands. In a shock move the Topshop tycoon decided to delay the final decision from creditors on whether to approve an insolvency process for his [...]
Transport giants unveil bids for HS2 train design June 5, 2019 Siemens, Alstom and Bombardier/Hitachi have submitted bids for a £2.75bn contract to design, build and maintain trains for HS2. The contract is to design, build and maintain at least 54 trains for phase one of the £56bn next-generation railway, which will link London to the West Midlands. HS2 is expected to award the rolling stock [...]
Woodford dropped by St James’s Place as manager of £3.5bn of its funds June 5, 2019 Neil Woodford has been dropped by St James’s Place as manager of £3.5bn of its funds. The wealth manager said today it had terminated its mandates with Woodford Investment Management, appointing Columbia Threadneedle and RWC Partners in its place. A spokesperson for St James’s Place said the firm had “been keeping a close eye on [...]
Babcock charts its way back to success with plan to bolster earnings growth June 5, 2019 Babcock draws up plan to boost earnings growth
Trump and Queen mark D-Day sacrifices in Portsmouth June 5, 2019 US President Donald Trump and Queen Elizabeth today joined world leaders today to mark the 75th anniversary of the D-Day landings. Nearly 300 parachutists jumped out of planes over the fields of France earlier today, after having flown over from Cambridgeshire. “The wartime generation – my generation – is resilient, and I am delighted to [...]
Commuters brace for Tube chaos as 10,000 workers balloted for strike action June 5, 2019 Major strikes could bring London Underground to a standstill, with up to 10,000 workers threatening to walk out. Union RMT said it would ballot for the strike action after “crucial” talks with management collapsed earlier today. Read more: RMT stages five-day strike on South Western Railway Managers refused to increase salaries and improve working conditions, [...]
Bank of England calls ‘last orders’ on Libor as regulators push 2021 transition June 5, 2019 The Bank of England has called “last orders” on the scandal-hit Libor interest rates as regulators push for financial institutions to transition away from the benchmark by 2021. Deputy governor Dave Ramsden said good progress was being made and that getting on with the switch to alternative benchmark Sterling Overnight Index Average (Sonia) could be [...]
Mike Ashley’s Sports Direct lines up Game takeover June 5, 2019 Mike Ashley is set to lodge a bid for Game Digital, as the retail tycoon’s spending spree shows little sign of slowing down. Sports Direct, which already owned a 20 per cent holding in Game, has launched a takeover offer for the gaming firm after upping its stake in the group to roughly 38 per [...]
CMA head Lord Tyrie warns Big Four that appetite for audit reform is ‘very strong’ June 5, 2019 The chair of the Competition and Markets Authority Lord Tyrie today warned the Big Four that the appetite for reform of the audit market is “very strong” in government and parliament. “I think the market needs to realise, if they don’t already, that the appetite for whatever is required to address this is very strong, [...]