Payments company Worldline to buy rival Ingenico in €7.8bn deal February 3, 2020 Worldline has agreed to buy French rival Ingenico, creating a new global payments player in a rapidly-consolidating industry in a €7.8bn (£6.6bn) deal. The two companies said the deal would create a new European leader in the sector and the world’s fourth largest payment services provider, which would provide services to nearly one million merchants [...]
We need to talk about race February 3, 2020 We need to talk about race. Because it directly affects the bottom line—and then some. Look to the much-quoted McKinsey study on ‘Why diversity matters’ and firms in the top quartile for racial and ethnic diversity are 35 percent more likely to outperform their median peers. Some estimate that we could add £24bn to the [...]
Boris Johnson: UK doesn’t need EU rules for Brexit trade deal February 3, 2020 Prime Minister Boris Johnson has said the UK will not accept EU rules as part of a post-Brexit trade deal, but said Britain is not going to engage in a “cut-throat race to the bottom” standards. In a heavily trailed speech in London, the PM said: “There is no need for a free trade agreement [...]
Dominic Cummings sets up ‘spy network’ in bid to stop leaks February 3, 2020 Boris Johnson’s top adviser has set up a network of informants in plush Westminster restaurants in an audacious bid to stop ministerial aides from leaking to journalists. Dominic Cummings told special advisers on Friday that they must cough up half the bill if they go out for lunch, dinner or drinks with members of the [...]
UK PMI: Manufacturing sector hits nine-month high February 3, 2020 The UK manufacturing sector had its best performance in nine months in January, halting a long-running decline that began in May of last year, survey data has shown. The IHS Markit/Cips manufacturing purchasing managers index (PMI) rose to 50 in January as new orders and business confidence recovered. The score was well above December’s reading [...]
UK competition watchdog to push for tighter controls on US tech giants February 3, 2020 The UK’s competition watchdog will push for tougher powers to regulate companies such as Google and Facebook following the UK’s official departure from the EU, and will pursue antitrust investigations against tech giants independently of the bloc. “The upside [Brexit] is that you take back control — genuinely — of the decisions,” Competition and Markets [...]
Fresh 737 Max delays hurt Ryanair’s passenger growth target February 3, 2020 Ryanair today warned Boeing 737 Max delivery delays will hurt growth plans as it swung back into profit in its third quarter. Ryanair was expecting its first delivery of the airplane to arrive in spring 2019. But it admitted that will now not happen until September or October 2020. The fresh Boeing 737 Max delivery [...]
Credit card firms must cut fees for those in persistent debt, says watchdog February 3, 2020 Credit card providers must cut or stop fees for those who are caught in a cycle of persistent debt, the financial watchdog has said. In a letter to the chief executives of credit card firms this morning, the Financial Conduct Authority said lenders must come up with a repayment plan for customers who have been [...]
Future shares boosted after short-seller launches attack February 3, 2020 Publishing group Future saw its shares rise seven per cent this morning, just days after the firm came under attack from a short-seller over the price of its stock. In a trading update, the media group, which publishes specialist trade magazines, said it had continued to grow audience numbers and had seen strong revenue growth. [...]
Imperial Brands picks Stefan Bomhard as new chief executive February 3, 2020 UK tobacco firm Imperial Brands has named Stefan Bomhard, the boss of car dealership Inchcape, as its new chief executive. Bomhard will replace Alison Cooper, whose departure was announced in October and who today stepped down with immediate effect. The new chief executive’s main task will be to boost profits following weak full-year results amid [...]