CBI: UK manufacturers end 2019 under a cloud of worry December 17, 2019 The CBI has warned UK manufacturers are set to end the year on a low note. Manufacturing output volumes in the three months to December fell at the quickest rate since the financial crisis as output expanded in only six of 17 sub-sectors, CBI Industrial Trends data revealed today. The survey of 289 manufacturers showed [...]
No-deal Brexit fears trigger sell-off of Barclays, Lloyds and RBS shares December 17, 2019 Shares in Barclays, Lloyds and Royal Bank of Scotland (RBS) all slumped in early trading after Boris Johnson brought back the spectre of a no-deal Brexit today. The trio failed to impress in yesterday’s Bank of England stress tests, where analysts warned that a strategy to double a 100-basis point capital buffer designed to protect [...]
Wetherspoons resolves pigs in blankets shortage in time for Christmas December 17, 2019 JD Wetherspoon customers can breathe a sigh of relief as pigs in blankets are back on the menu in the run up to Christmas following a shortage earlier this week. Pigs in blankets had been served without their blankets in some pubs due to supply chain problems earlier this week. Read more: Which wines to [...]
Gove insists UK-EU trade deal possible by 2020 December 17, 2019 Michael Gove has insisted the UK will get a trade deal before the end of transition this time next year, as he defended Number 10 plans to rule out an extension. As reported by City A.M., Boris Johnson’s team has rewritten the Withdrawal Agreement Bill ahead of being brought back to parliament on Friday. Concessions [...]
‘You ain’t seen nothin’ yet,’ Boris Johnson says as he promises Tories will represent new voters December 17, 2019 Boris Johnson has promised to represent voters new to the Conservative party, telling his Cabinet ministers they must work “flat out to change our country for the better”. At his first Cabinet meeting since securing an 80-seat majority, the Prime Minister by noting that last week’s election had redrawn the political map of Britain – [...]
UK unemployment rate falls close to 45-year low, but wage growth slows December 17, 2019 The UK’s unemployment rate fell back close to a 45-year low between August and October, according to official data today, but economists warned the new government must solve the “puzzle” of flagging wage growth. The unemployment rate fell to 3.8 per cent to register just 1.28m people who are unemployed, a fall of 93,000 or [...]
Purdue Pharma made payments of $10bn to Sackler family December 17, 2019 The family that owns controversial opioid manufacturer Purdue Pharma has transferred more than $10bn (£7.6bn) from the company to its personal trusts and holdings in the last decade. An audit carried out by consultants Alix Partners found that the billionaire Sackler family were given $10.7bn in payouts by the firm, which makes Oxycontin. Read more: [...]
AA reveals new CFO Kevin Dangerfield December 17, 2019 AA today announced the appointment of a new chief financial officer. Kevin Dangerfield moves to AA from Wilmcote Holdings, an investment vehicle. Read more: AA shares leap as firm plans bond buyback Dangerfield will take up the role on 6 January 2020, subject to approval from the FCA. He will take over from interim CFO [...]
Exclusive: Crossrail safety issues spiral in 2019 with record rate of near-misses December 17, 2019 High risk incidents in the construction of Crossrail doubled this year, in a trend that an engineering company contracted by Transport for London (TfL) has described as “worrying”. Crossrail records the number of incidents that could, in different circumstances, have caused death or serious injury. This year, Crossrail workers have been involved in 50 of [...]
First-time buyer mortgage approvals increase in October December 17, 2019 The number of first time buyers securing mortgages jumped in October, according to the latest data. There were 32,260 new first-time buyer mortgages completed, 2.8 per cent more than in October last year. Read more: UK mortgage lending dips as buyers hesitate in Brexit uncertainty The number of homemover mortgages completed in the month grew [...]