Getting Brexit done will not help UK economy, say academics November 26, 2019 Carrying out Brexit will not improve the UK’s struggling economy but will usher in years more uncertainty about Britain’s trading relationships, a new report has said. The hard Brexit that Prime Minister Boris Johnson is proposing will also limit the size of the UK market and raise trade costs, making it a less attractive place [...]
Uber rival Ola announces London launch November 26, 2019 Ride-hailing app Ola has fired the starting gun in the race to recruit Uber drivers and customers, announcing it will soon launch in London. The Indian ride-hailing app today announced it had begun on-boarding drivers in London and would launch in the coming weeks. Read more: TfL bans Uber from London after a ‘pattern of [...]
Pets At Home profit jumps in first half as it eyes top-end full-year earnings November 26, 2019 Pets At Home’s share price surged in trading today after it posted a bumper profit increase and strong like-for-like sales growth for the first half of its financial year. Read more: Short sellers tail off at Pets At Home The figures The retailer enjoyed an 18.9 per cent year-on-year increase in underlying profit before tax [...]
De La Rue shares plunge as it scraps dividend and warns of ‘significant doubt’ over future November 26, 2019 De La Rue has bailed on plans for a dividend this year and warned there is “significant doubt” on its ability to continue to operate, sending shares plummeting. “We have concluded there is a material uncertainty that casts significant doubt on the Group’s ability to continue as a going concern,” it said today as it [...]
White House ‘on lockdown’ over unauthorised aircraft November 26, 2019 The White House was put on lockdown this afternoon after unauthorised aircraft reportedly entered Washington D.C. airspace. CNBC reported that fighter jets were scrambled. Read more: Uber ban: London business groups mourn ‘dark day’ The lockdown lasted 20 minutes, with the North Lawn of the White House being cleared, according to NBC News. Reporters were [...]
Google activists fear backlash after four workers fired over data breaches November 26, 2019 Google has fired four employees it accused of breaching data security policies, sparking accusations that the company was retaliating against activists. The US tech giant said the dismissals came after an investigation found that the staff members had accessed work, calendars, and emails of other Google staff. Read more: Google vows to curb political ad [...]
Uber rival Bolt set to secure $100m in new funding November 26, 2019 Uber competitor Bolt is on the verge of securing more than $100m (£78m) in new funding. The Estonian ride-hailing app is working with Goldman Sachs on the new round of funding, just four months after raising £50m from new and existing backers. Read more: TfL bans Uber from London after a ‘pattern of failures’ Bolt, [...]
Troubled burrito bond chain Chilango postpones AGM amid questions over future November 26, 2019 Chilango has postponed its annual general meeting (AGM) amid continued questions over the burrito chain’s future, City A.M. can reveal. The Mexican restaurant group is in talks with restructuring firm RSM to secure its long-term future, and is almost eight weeks late posting its accounts to Companies House. Read more: FCA to ban marketing of [...]
Covent Garden JV writedown hurts Shaftesbury profit November 26, 2019 West End landlord Shaftesbury suffered a sharp drop in profit this year after taking a writedown on the value of a retail joint venture in Covent Garden. The figure Profit after tax fell from £175.5m to £26m due to the revaluation of the portfolio, which dipped 0.6 per cent to £4bn overall. However, the company’s [...]
Treatt savours solid 2019 as profit rises despite citrus price fall November 26, 2019 Treatt, which manufactures flavour and fragrance ingredients for the beverage and consumer product industries, defied a collapse in the price of citrus oil to post a seventh consecutive year of profit growth. Read more: FTSE 250 hits highest level in 15 months as Conservatives maintain poll lead The figures Profit at the group rose 5.2 [...]