Ofwat clamps down on water companies with proposals to regulate dividends July 28, 2022 Water companies could be prevented from making dividend payments if their financial resilience is at risk, in new reforms pushed by Ofwat.
Ocado appoints CEO to head up new technology division to focus on robotics handling July 28, 2022 Online grocer and tech firm has appointed its current chief operating officer to a new role as top boss of a new Ocado division. Mark Richardson will step into the newly-created role of CEO as a new business which will extend Ocado’s “product offering into new market sectors alongside grocery.” The upcoming launch of products [...]
Startups restraining breakneck growth plans in hunt for funding, says VC chief July 28, 2022 UK startups are paring back growth-at-all-costs business plans and mapping out firmer routes to profitability as recessionary fears cause investors to pull back from higher risk bets, a top venture capital chief said today.
Businesses to receive boost following restoration of Night Tube services for first time since pandemic July 28, 2022 London businesses are set to receive a boost after Night Tube services have been restored in full for the first time since the pandemic. “As visitors and employees return to London, a safer and reliable mode of transport is a crucial service to help raise footfall and aid the economic recovery of our businesses,” said [...]
Metro Bank losses narrow despite big loan-loss reserve charge July 28, 2022 A ramping up in lending to riskier borrowers and an anticipated uptick in defaults caused by inflation surging to a 40-year high has led Metro Bank to set aside millions of pounds of loan-loss reserves. The lender, which has been grappling with severe under performance for years, narrowed losses in the six months to June [...]
TfL granted deadline extension as it looks at Govt proposal July 28, 2022 Transport for London (TfL) was granted a week extension of the current government funding. The public body was given until 3 August while it continues to revise a £3.6bn proposal put on the plate by transport secretary Grant Shapps last Friday. “We are considering whether the proposal from the government meets that need and if [...]
More than 100,000 Ukrainian refugees have settled in Britain since start of Kremlin’s war July 28, 2022 More than 100,000 Ukrainians fleeing the Kremlin’s war have made their homes in the UK. 25,300 who have had visas approved are still awaiting confirmation, through the Family and Sponsorship schemes set up earlier this year. More than 70,000 refugees arrived in Britain through the UK government’s sponsorship scheme, which allows applicants to settle if [...]
UK’s financial watchdog fines three Carillion executives over misleading statements July 28, 2022 The UK’s financial watchdog today fined three former Carillion executives for “recklessly” publishing misleading statements prior to the construction firm’s collapse in 2018. The Financial Conduct Authority (FCA) said it would have also fined the company itself a sum of £37.8m if it were not for the firm’s 2018 bankruptcy. The FCA’s sanctions saw Carillion’s [...]
CMC Markets shares plunge after cost warning July 28, 2022 Shares in CMC Markets plunged over 20 per cent this morning after the online trading platform issued a warning that soaring costs would eat into profits in the six months ahead.
Legal history: First-ever televised sentencing at Old Bailey hailed a ‘landmark moment’ as Ben Oliver gets life July 28, 2022 Judge Sarah Munro QC made legal history today as she sentenced 25-year-old Ben Oliver to life imprisonment with a minimum term of 10 years and eight months. It was the first televised sentencing to take place at the Old Bailey ever. The footage was being broadcast on news channels and being made available online through [...]