British Gas owner Centrica wins Ofgem appeal over energy price cap November 13, 2019 The High Court ruled in favour of British Gas owner Centrica’s appeal against the way that Ofgem calculated part of its energy price cap today. The decision means that Ofgem will have to make adjustments to the price cap. Read more: British gas owner Centrica shares fall to 20 year low as it warns over [...]
Wizz Air is planning to expand in London ‘no matter what happens to Brexit’ November 13, 2019 Low cost flyer Wizz Air is planning to spread its wings in its key London market, “no matter what happens … to Brexit,” its chief executive said today. Jozsef Varadi, who co-founded the Hungarian carrier, said this morning he “absolutely” plans to expand in the capital, despite missing out on Thomas Cook’s take-off and landing [...]
Speedy Hire striding forward as profit and revenue grow November 13, 2019 Speedy Hire, the UK’s leading tools and equipment rental company, posted strong interim results this morning, with profit and revenue up 20 and six per cent respectively. Read more: Speedy Hire profits jacked up as small business strategy pays off The figures Profit before tax reached £16.4m, up from £13.5m for the same period in [...]
Wincanton raises dividend as it mulls Eddie Stobart bid November 13, 2019 Wincanton posted a rise in underlying profit in its latest half-year results and raised its dividend, as it continued to hold off on a bid for struggling rival Eddie Stobart. Read more: Eddie Stobart confirms £55m rescue bid – but will shareholders be left in the cold? The figures Profit before tax fell 5.3 per [...]
Eddie Stobart confirms £55m rescue bid that leaves shareholders in the cold November 13, 2019 Eddie Stobart today confirmed that a major shareholder has made a £55m bid for a controlling stake in the company, following a report warning investors will lose out. Douglas Bay Capital Fund wants to buy a 51 per cent stake of of a new entity that would then become the holding company for Eddie Stobart. [...]
HS2: Leaked report means controversial project is now an election issue November 13, 2019 The HS2 high speed rail line has long been the problem child of British infrastructure. Now, at a decade old and with a final decision on its future fast approaching, it is hurtling towards its difficult teenage years. Yesterday, a leaked draft of the government-commissioned review into the project cast yet more doubt on how [...]
Eddie Stobart shareholders face steep losses in potential rescue November 12, 2019 Shareholders in logistics firm Eddie Stobart face a steep cut in the value of their investment as part of a proposed financing deal. A proposed offer from former controlling shareholder Dbay Advisors would be at a huge discount to the price at which its shares were suspended in August, Sky News reported. Citing sources, the [...]
Deputy chair of leaked HS2 review slams ‘whitewash’ report November 12, 2019 The deputy chair of the government-commissioned review into HS2 has savaged a late draft of the report, which urges ministers to press on with the project. Lord Tony Berkeley, who was co-author of the report until a matter of weeks ago, has written to chairman Douglas Oakervee demanding his name be removed from the document. [...]
HS2: Leaked report urges government to press on with rail project November 12, 2019 The High Speed 2 (HS2) rail line connecting London to Manchester, Birmingham and Leeds should go ahead in its entirety despite the likelihood of massive budget overruns and falling benefit to the taxpayer, according to a draft of the official review into the project. Douglas Oakervee, a former chair of HS2 who was tasked with [...]
Boeing shares soar as it forecasts January return for 737 Max November 11, 2019 Boeing shares took off this afternoon after the company said it expected US regulators to approve its grounded 737 Max model to return to service in January. The plane maker, which has been tussling with the global fallout from two deadly crashes of the jet which killed 346 people, said it was possible deliveries to [...]