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, [...]
Boeing reveals new software issue could further delay 737 Max return to service January 18, 2020 Boeing has revealed it is addressing a new software issue on the grounded 737 Mac which could further delay its return to service. The aircraft maker discovered an issue relating to its power-up monitoring function that verifies some system monitors are operating correctly, during a technical review in Iowa last weekend. “We are making necessary [...]
Morgan Stanley chief’s pay falls 7 per cent despite profit jump as bank reduces bonuses January 18, 2020 Morgan Stanley chief executive James Gorman received $27m (£20.75m) in total compensation for 2019, almost seven per cent less than the year before, according to a company filing on Friday. It comes following a reduction in bonuses for staff across the business. The board called Gorman’s performance “outstanding” and acknowledged the firm’s “strong financial performance”. [...]
UK will not automatically deport EU nationals after Brexit January 18, 2020 The UK will not automatically deport EU nationals who have not applied to stay in the country after Brexit, European Parliament Brexit coordinator Guy Verhofstadt said on Friday. Verhofstadt met with Brexit minister Stephen Barclay on Thursday and said he had been given assurances there would be a grace period for those who have not [...]
Chancellor Sajid Javid warns business ‘there will be no alignment’ with EU on regulations January 18, 2020 The Chancellor has warned businesses that “there will not be alignment” with the EU on regulations following Brexit. Sajid Javid said firms will have to “adjust” to new regulations. The automotive and pharmaceutical industries were among those that warned the government last year of the damage that not aligning with the EU could do. Javid [...]