Hope of renewed Interserve rescue refinancing plan gives investors second wind February 26, 2019 Shares in outsourcer Interserve were up 16 per cent this afternoon as investors continue holding their breath for a rethink of its emergency financial rescue plan. The firm is expected to publish an updated version of the plan tomorrow morning after its biggest shareholder, Coltrane Asset Management, demanded it make changes on Thursday night. Read [...]
High Court strikes down black cab appeal against Uber’s London licence February 26, 2019 The High Court rejected an appeal to block Uber's 15-month London licence today, dismissing claims that the decision to grant it was biased. Taxi drivers of the United Cabbies Group (UCG) argued that chief magistrate Emma Arbuthnot's decision to grant Uber a licence to operate in London was affected by her husband's relationship with the company. Read more: [...]
Scottish Power set to pump £2bn into the UK this year in face of Brexit fears February 26, 2019 Scottish Power’s chief executive today played down Brexit fears as the company committed to investing £2bn into the UK this year. The energy supplier, which last year transitioned to 100 per cent renewable energy, said it will pour £6bn into Britain between 2018 and 2022, with two fifths of that going to renewable energy generation. [...]
IBM’s Watson supercomputer to solve the mobility problem in tie-up with Volkswagen’s SEAT February 26, 2019 IBM and Volkswagen's Spanish unit SEAT have unveiled a standalone app that hopes to predict what mode of transport and route is best for urban users through artificial intelligence (AI). The app, called Mobility Advisor, will utilise the power of IBM's Watson supercomputer to present commuters with the best way to navigate cities, whether that's [...]
Travis Perkins’ share price rallies despite moving into the red amid ‘challenging’ market February 26, 2019 Travis Perkins shares rallied on beaten analyst expectations even as the company posted a loss for the first time in years for 2018 against a “challenging” market backdrop. The figures The builders’ merchant grew revenues 4.8 per cent to £6.7bn last year, with like-for-like revenue growth up 4.9 per cent – faster than 2017. Read more: [...]
Defence contractor Babcock burned by £10m Brexit cost to aerial firefighting business February 26, 2019 Shares in defence contractor Babcock dropped this morning as it admitted it will take a £10m Brexit hit, because of restructuring its aerial firefighting businesses to meet European operating requirements. The Ministry of Defence’s (MoD) second-biggest supplier said while the initial blow would be from tax, it will also cost an extra £10m a year to operate [...]
How to stop worrying about being run over by a robot car February 26, 2019 Depending on who you ask, we are either very close or very far from having millions of autonomous vehicles on the roads. What few question is that we will eventually see widespread take-up; the opportunities for improved road safety are unparalleled. But driverless cars also offer a great exemplar of the wider automation debate, and the [...]
Ford links up with London startup What3words for a new way to map the world February 26, 2019 Ford is ramping up its innovation plans as the US car giant today announces a partnership with London startup What3words. The tie-up means drivers will be able to link the What3words app, which has mapped out the globe into 57 trillion 3m-by-3m squares using unique three-word addresses, with Ford's in-car navigation system. The technology will reduce address input errors [...]
Crossrail bosses hope to give estimate for new opening date ‘by April’ February 25, 2019 London mayor Sadiq Khan has said there is no date that Crossrail chief executive Mark Wild can give "with confidence" for when the delayed railway will open, but that he hopes to give an estimate by the end of this financial quarter. The £17.6bn Elizabeth Line, which will stretch from Shenfield in the east to Reading in the [...]
Acquisition-heavy Bunzl drops from all-time share high as margins get squeezed February 25, 2019 Bunzl stumbled from an all-time high share price this morning as the company’s margins were squeezed to a several-year low. The figures The distribution and sourcing firm grew revenue six per cent to £9.1bn in the 2018 financial year, it announce this morning. Adjusted operating profit, which strips out acquisition costs, some pensions charges and [...]