Casino giant Caesars in ‘advanced discussions’ over £2.9bn William Hill takeover September 28, 2020 US casino giant Caesars Entertainment has confirmed it is in “advanced discussions” over a £2.9bn takeover deal of UK betting firm William Hill. Caesars has put forward a cash offer of 272p per share for the British bookmaker, which is 25 per cent higher than the company’s trading price last Thursday and a 57.6 per [...]
Mirror publisher suspends dividend as revenue slumps during Covid-19 pandemic September 28, 2020 Mirror and Express publisher Reach has suspended its interim dividend for the six months to June, after a national lockdown during the pandemic bit into sales and hammered revenue at the newspaper owner. The results Revenue slipped 17.5 per cent to £290.8m in the six months to 28 June at the newspaper publisher, down from [...]
Natwest and Lloyds signal willingness to bring back dividends September 27, 2020 Two of the UK’s largest banks have indicated that they are ready to restart paying dividends as the Bank of England prepares to review its ban on shareholder payouts. Executives at Natwest and Lloyds have hinted at the strength of their balance sheets, with Natwest chairman Howard Davies saying lenders would resume paying dividends if [...]
Boris Johnson facing parliamentary defeat over Covid powers September 27, 2020 Boris Johnson is facing his first parliamentary defeat since winning the 2019 election, with up to 60 Tory MPs prepared to defy party whips and vote for an amendment to new Covid legislation. Legislation to extend powers allowing the Prime Minister to unilaterally impose coronavirus restrictions by a further six months will come before the [...]
Boris Johnson’s gigabit broadband target will be ‘missed by years’, warns BT boss September 27, 2020 Boris Johnson’s target for delivering gigabit broadband across the UK will be missed by eight years without £9bn worth of tax and red tape cuts, BT has warned ministers. BT claims the industry is on course to deliver gigabit speeds across the nation by 2033, significantly later than Johnson’s election pledge of full coverage by [...]
Labour takes three-point lead over Tories in new poll September 27, 2020 Labour has taken a three-point lead over Boris Johnson’s Conservatives in a new poll, just days after Sir Keir Starmer’s first party conference as leader. An Opinium/Observer poll released last night has Labour on 42 per cent and the Conservatives on 39 per cent, representing the first major poll to have the opposition lead the [...]
Restaurant industry risks ‘lost generation’ without more support, top chefs warn September 27, 2020 Raymond Blanc and Michel Roux Jr have warned that the restaurant industry risks losing a generation of talent and will “suffer enormously” amid fresh coronavirus restrictions and gaps in government support. Industry figures have condemned the new 10pm curfew as “devastating”, while a quarter of hospitality businesses fear they will go bust by the end [...]
Evidence on negative rates ‘encouraging’, says Bank of England policymaker September 27, 2020 The Bank of England has seen “encouraging” evidence that negative interest rates could help the British economy during the downturn triggered by the coronavirus, a policymaker has said. Silvana Tenreyro, who sits on the Bank’s monetary policy committee (MPC), said the committee has been discussing what options it has in its toolkit, including “how effective [...]
UK and EU to enter crunch final weeks in Brexit negotiations September 27, 2020 The UK and EU are moving toward the final stages of Brexit trade talks, with the chances of a deal reportedly improving. The ninth round of formal negotiations will begin on Tuesday, with both sides having made late concessions, according to the Sunday Times. Senior sources told the Times that Michael Gove has been pressuring [...]
Commerzbank poaches Deutsche Bank executive as new boss September 27, 2020 Commerzbank has tapped a senior executive from rival Deutsche Bank to become its new chief executive, filling a leadership vacuum at the lender after months of uncertainty. Manfred Knof, head of Deutsche Bank’s German retail business, will take over as head of Germany’s second largest bank in January. Knof succeeds Martin Zielke, who resigned in [...]