Chancellor Rishi Sunak tells EU: Stick to June timeline for City equivalence decision March 2, 2020 UK chancellor Rishi Sunak has told the European Union to stick to a June deadline to work out which parts of Britain’s financial system will be deemed equivalent after Brexit. British banks, trading platforms and insurers are hoping to be granted access to EU markets under a so-called equivalence system, under which the bloc would [...]
Possible lifeline for Sirius as shareholder Jupiter backs Anglo American deal March 2, 2020 Embattled Sirius Minerals could be saved as a key investor pledged to back the controversial Anglo American rescue deal a day before shareholders vote. Jupiter Fund Management, which has a 7.8 per cent stake in the troubled project, will tomorrow back the £405m deal, according to Sky News. Last month the boss of Sirius urging [...]
Jack ‘Neutron’ Welch, chief executive of General Electric, dies age 84 March 2, 2020 Jack Welch, the architect of General Electric’s (GE) rise to becoming at one time the most valuable company in the US, has died aged 84, the firm has announced. Over the course of his two decades as chief executive of the industrial giant, Welch grew the firm’s market value from $12bn to $410bn, expanding General [...]
Twitter shares jump as Elliott makes move to oust founder Jack Dorsey March 2, 2020 Shares in Twitter rose more than eight per cent in early trading in New York this afternoon after it emerged an activist investor has launched a bid to oust founder Jack Dorsey. Elliott Management has built up a stake in the social media firm and has nominated four directors to its board. The New York-based [...]
Number of UK coronavirus cases hits 40 March 2, 2020 The Department for Health said today the number of confirmed coronavirus cases in the UK had risen by four to 40. The department said 13,525 people have been tested for the virus, with 40 positive results. Chris Whitty, the chief medical officer of England, said the four new patients had recently travelled from Italy. The [...]
Wizz Air agrees to launch spin-off airline out of Abu Dhabi March 2, 2020 Wizz Air has today announced that it has signed an agreement to launch a spin-off airline out of Abu Dhabi, with flights set to begin in the autumn. The Hungarian airline has entered a partnership with Abu Dhabi Developmental Holding Company (ADDH) to set up Wizz Air Abu Dhabi, a new low-cost airline servicing destinations [...]
Greenpeace targets Barclays branches over fossil fuel financing March 2, 2020 Greenpeace activists have targeted almost 100 Barclays bank branches this morning in protest over the bank’s financing of fossil fuel companies. Some 29 branches in London are affected, according to Greenpeace, with activists disabling many of the branches’ lock mechanisms so they are unable to open as usual. Campaigners are demanding the banking giant — [...]
Just Eat Takeaway.com launches arbitration proceedings against rival Delivery Hero March 2, 2020 Just Eat Takeaway.com has launched arbitration proceedings against Delivery Hero after the latter upped its stake in the newly merged business which Takeaway said violated a standstill agreement between the pair. Just Eat Takeaway.com was formed last month after UK food delivery service Just Eat merged with Dutch business Takeaway.com. Delivery Hero said last month [...]
Senior warns of turbulent 2020 on 737 Max delays and coronavirus fears March 2, 2020 Boeing supplier Senior could be in for a rough ride in 2020 after the firm warned that continued issues over the production of the 737 Max and potential disruption from the coronavirus outbreak could hit sales. Despite the warning, shares in the FTSE 250 firm rose over two per cent today. The figures Although the [...]
Coronavirus latest: UK to set out nationwide plan as Johnson warns spread ‘looks likely’ March 2, 2020 The UK government has agreed a plan for dealing with the coronavirus during an emergency Cobra meeting this morning, as the number of cases in the UK is expected to rise throughout the next few weeks. Prime Minister Boris Johnson urged people to “go about business as usual” and that the country was “very, very [...]