Water companies turn back on pledge to not pay dividends January 19, 2020 Some of Britain’s largest water companies have given away hundreds of millions of pounds to shareholders in recent years, despite promises to stop paying dividends. Southern Water, Thames Water and Yorkshire Water all promised to stop paying dividends to shareholders, after watchdog Ofwat told them to invest in more infrastructure and cut bills. Read more: [...]
Retail landlord Intu to seek £1bn of emergency cash January 19, 2020 Shopping centre landlord Intu is preparing to launch an attempt to raise £1bn in emergency funding following a torrid year for the UK retail industry. The property firm, which owns Manchester’s Trafford Centre, has been hurt by the challenges facing the retail industry, as brands such as Topshop, Debenhams and House of Fraser have closed [...]
Former BBC boss warns licence fee overhaul would ‘delegitimise’ service January 19, 2020 The former director general of the BBC has warned that any move to overhaul the licence fee would “delegitimise” the broadcaster. Mark Thompson, who left the BBC in 2012 to take over as chief executive of the New York Times, said proposals to decriminalise no-payment of the licence fee would have a “pretty negative” impact [...]
Boris Johnson planning to roll back EU immigration earlier than expected January 19, 2020 Boris Johnson is drawing up plans to limit low-skilled European Union immigration at the start of 2021 – a full two years earlier than previously promised. Under previous proposals, freedom of movement with the European Union would continue until 2023. The promise had been made by Theresa May, after an extended period was demanded by [...]
Third of retailers issue profit warnings in ‘bruising’ year for UK high street January 19, 2020 A third of retailers issued a profit warning last year following a “bruising” year for the UK high street. For the second year in a row, a third or more of the FTSE retailer sector warned on lower profits over the course of 2019. The number of profit warnings fell from 36 in 2018 to [...]
Former ITV boss Adam Crozier in talks to chair Kantar January 19, 2020 The former chief executive of ITV is in discussions to take over as chairman of market research giant Kantar. Adam Crozier, who led the broadcaster for seven years to 2017, has been approached about the role by Bain, which bought a majority stake in Kantar from WPP for $4bn (£3.2bn) last year. A source close [...]
Tory chairman James Cleverly confirms House of Lords move may be on the cards January 19, 2020 The Conservatives’ party chairman has confirmed the government is considering a proposal to permanently move the House of Lords to York. The Sunday Times reported today that Boris Johnson has begun a review into the feasibility of the move, with disused land already identified as a potential location. Another initiative under discussion is holding House [...]
Netflix shows to remain on Sky after media firms ink new multi-year content deal January 19, 2020 Sky today said it has signed a new multi-year agreement with Netflix to keep the US streaming service’s programming on its pay-TV network. The two companies said the extended deal builds on a “successful partnership built over the past two years”, with Sky customers already able to access Netflix hits such as Sex Education through [...]
Labour leadership rivals clash over antisemitism January 18, 2020 Labour leadership candidate Jess Phillips appeared to criticise other candidates on their handling of antisemitism allegations within the party. As the five hopefuls went head to head in public for the first time, Phillips told the crowd in Liverpool that the party needed a leader who spoke out “when others were keeping quiet”. When questioned [...]
IMF warns growing inequality could cause a new financial crisis January 18, 2020 The head of the International Monetary Fund (IMF) has called on the world’s financial sector to address near-record levels of inequality within countries that could be a harbinger of a new financial crisis. IMF managing director Kristalina Georgieva issued a “call to action”, urging a shift to facilitate more lending to small and women-led businesses, [...]