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 [...]
BP chief Dudley to step down after decade-long tenure September 28, 2019 The chief executive of BP is set to step down after 10 years of leading the British energy company. Bob Dudley is planning to retire from the role within the next 12 months, according to Sky News. The American turned 64 this month and has held detailed discussions with BP chairman Helge Lund about his [...]
Thomas Cook pension funds in talks over buyout deal September 27, 2019 Thomas Cook’s pension funds are in talks with insurers to mitigate cuts to payments for the employees of the collapsed travel firm. Chair of trustees Steve Southern has launched discussions with several parties about a buyout deal to prevent pension scheme members losing out on payments, Sky News reported. Read more: 40 per cent of [...]
Renewables soar on strong wind September 27, 2019 Generation of renewable electricity soared last quarter in Britain as new wind energy came online, bringing the country a small step closer to phasing out emissions. Electricity from renewables rose by nearly 10 per cent year-on-year, government data released today shows. Read more: IEA boss Fatih Birol: Oil demand could slow if economy stays weak [...]
Civil Aviation Authority has flown back 40 per cent of stranded Thomas Cook holidaymakers September 27, 2019 A total of 61,000 Thomas Cook customers have now been flown back to the UK by the Civil Aviation Authority (CAA). On Thursday it used 69 flights to bring home a further 15,000 people, taking the total of those returned to the UK following Thomas Cook’s collapse to 40 per cent. Read more: MPs launch [...]
Thomas Cook: MPs launch inquiry into ‘corporate greed’ at collapsed holiday giant September 26, 2019 Thomas Cook bigwigs will be hauled in front of MPs in the coming months and forced to explain the firm’s catastrophic collapse, which left 150,000 Brits stranded abroad and forced the biggest peacetime repatriation in history by the British government. After meeting this afternoon, the Commons’ business select committee agreed to launch a wide-ranging inquiry [...]