FRC watchdog probes EY audit of Thomas Cook accounts October 1, 2019 The UK’s financial watchdog has launched an investigation into EY’s audit of Thomas Cook’s last set of financial results. The Financial Reporting Council (FRC) has started its probe into EY’s audit of the collapsed tour operator’s financial year ending 30 September 2018. Read more: DEBATE: Is Thomas Cook’s boss right to defend his high pay? [...]
‘New RWE’: Europe’s biggest CO2 culprit promises to be carbon-neutral by 2040 September 30, 2019 The German utility giant behind Npower has said it is stepping away from energy transported through pipelines as it revealed a giant pipeline of renewable production. RWE said it plans more than 18 gigawatts (GW) of new capacity, nearly as much as all the wind turbines installed in the UK. Read more: Eon struggles against [...]
Thomas Cook: Customers face two-month wait for holiday refunds September 30, 2019 Refunds for package holidays booked with liquidated UK travel giant Thomas Cook could take up to two months to reach customers, the UK’s aviation body warned today. The Civil Aviation Authority (CAA) said that while direct debit customers can expect refunds within two weeks, other people face a wait of up to 60 days. Read [...]
Tube delays: Severe delays hit three Tube lines as Bank station disruption begins September 30, 2019 Commuters’ mornings fell into chaos today as severe Tube delays plagued the Circle Line, District Line and Hammersmith & City Line. Transport for London (TfL) urged commuters to take alternative routes as engineers grappled with a signal failure at Bromley-by-Bow station. Read more: Bank station commuters warned of travel chaos ‘until 2022’ The incident left [...]
Uber’s regulatory wild ride: Meet the man behind the wheel September 30, 2019 Uber UK and Europe boss Jamie Heywood may have only been in the job for 18 months, but he already personifies what the company has become since its angry confrontation with London mayor Sadiq Khan. That spat over Uber’s London operations has seen the previously cavalier company grow into a firm that is careful and [...]
Chancellor Sajid Javid unveils £17bn no-deal Brexit cushion September 30, 2019 Sajid Javid will today unveil a package of spending pledges as the party goes on an election footing at its annual Conservative conference in Manchester. The chancellor will double down on Boris Johnson’s pledge to leave the EU with or without a deal on 31 October, promising a £16.6bn so-called no-deal Brexit guarantee to cushion [...]
Brexit fatigue? Public Accounts Committee turns to issues with ‘immediate impact on public’ September 29, 2019 An influential parliamentary committee has decided to turn away from Brexit over the coming weeks to focus its spotlight on other issues which have “an immediate impact on the public”. The Public Accounts Committee (PAC), which scrutinises the value-for-money of public spending, has announced it will launch inquiries on matters including fracking, the HS2 rail [...]
Royal Mail launches search for new UK director September 29, 2019 Royal Mail has launched a search for a director to run its UK operations at a tough time for the former state-owned post monopoly. Read more: Over 100,000 Royal Mail workers to vote on strike action Royal Mail’s shares have dropped over 45 per cent in value over the last year as it struggles with [...]
Ofgem looks at powers to block sales of energy customers September 29, 2019 Energy regulator Ofgem is considering plans which would allow it to block transactions between suppliers, as the industry worries that it is being left to pick up the pieces for failed companies. Rivals have picked the bones for left-over meat of some of more than a dozen energy suppliers that have gone bust in the [...]
Thomas Cook boss says ‘blame the lenders’ after holiday giant’s collapse September 29, 2019 The last ever boss of collapsed holiday giant Thomas Cook has laid the blame for the 178-year-old firm’s failure firmly at the door of its lenders. Former chief executive Peter Fankhauser said if bondholders and a syndicate of banks – including Barclays, Morgan Stanley, Lloyds and Royal Bank of Scotland – had taken action to [...]