Philip Morris still waits on EU green light for £14bn Swedish Match deal October 5, 2022 Cigarette giant Philip Morris has offered to make concessions to the EU in order to scoop up up rival firm Swedish Match in a $16bn (£14bn) deal. According to a European Commission filing, the maker of Malboro has put forward changes in order to address EU antitrust concerns, which it did not elaborate on. The [...]
PCF Bank shares tank after emergency lending freeze October 5, 2022 Shares in London-listed PCF Bank have tanked more than a third today after the firm announced it would halt lending activity as it struggled with cash levels following a failed takeover.
OPEC+ finalises heavy oil output cuts in bid to boost sliding prices October 5, 2022 The world's most influential oil cartel, OPEC+, has agreed to its deepest cuts in production since the pandemic.
Brittany Ferries calls on Govt to ‘refocus’ and improve seafarers’ conditions October 5, 2022 Brittany Ferries’ chief executive Christophe Mathieu has called on the UK Government to “refocus” its attention to improving conditions for those working in the Channel. “We welcomed former transport secretary Grant Shapps’ determination to drive up standards in the ferry sector and to set minimum wage requirements for ferry workers,” Mathieu said. “Now we urge [...]
Offshore workers back North Sea strikes over pay dispute October 5, 2022 Hundreds of offshore workers will go on strike for ten days between now and the end of the year following an escalating dispute over pay.
Directors only owe duty to creditors on real risk of insolvency, UK’s Supreme Court rules October 5, 2022 The UK’s Supreme Court has dismissed a claim calling for the law to be changed to force company directors to start taking creditors into account at the first risk of insolvency. The Supreme Court ruling reaffirms the current position in law, in stating company directors are only required to begin prioritising creditors if it is [...]
Halfords buys commercial tyre firm Lodge Tyre for £37.2m October 5, 2022 Halfords has bought commercial tyre firm Lodge Tyre for £37.2m in cash, the motoring services retailer announced today. The London-listed company will pay an initial £33.2m while a further £4m will be paid in FY25 depending on performance. “The acquisition of Lodge Tyre is yet another example of Halfords’ strategic aim of becoming a motoring [...]
European investors outpace US counterparts on sustainability October 5, 2022 European and UK investors are comfortably outstripping their Stateside counterparts on sustainable investing with more “mature” green investment strategies, new research has revealed today.
Chapter closed: Virgin Atlantic shuts Hong Kong route after 30 years October 5, 2022 Virgin Atlantic announced today it has dropped the Heathrow to Hong Kong route after almost 30 years due to the closure of Russia’s airspace and related issues. As part of the move, the airliner also shut down its office in the city-state. The legacy carrier said on Wednesday it would not resume flights – halted [...]
Liz Truss’s Tory Conference speech: The PM’s claims and statements fact-checked October 5, 2022 At the Conservative Party conference earlier today, Prime Minister Liz Truss gave her keynote speech, talking about her upbringing, the economic climate, and healthcare. Full Fact offered to fact check the different claims and statements for City A.M. “I stand here today as the first Prime Minister of our country to have gone to a [...]