Restaurants eat into retailers’ high street share August 8, 2019 Retailers are being edged out of the high street following a spike in change of use requests to convert shops into restaurants. More than a third of change of use applications made to councils last year were to swap retailers for restaurant or takeaways, despite the challenges currently facing the casual dining sector. Read more: [...]
Ocado reveals fire-fighting robot after robot factory blaze August 8, 2019 Online supermarket Ocado has filed a patent for a fire-fighting robot as the grocer seeks to improve fire safety at its distribution hubs. The design will allow the device to work within the grid system at the firm’s robotics distribution centres and will include a spraying mechanism to put out fires. Read more: Ocado bags [...]
Insurer Zurich expects to beat targets as profits jump August 8, 2019 Zurich Insurance Group hailed its best performance in a decade this morning after reporting a double-digit rise in profits and predicting that it would beat previous financial goals it had set. Read more: Aviva confirms strategic review of Asia Europe’s fifth largest insurer reported business operating profits of $2.8bn (£2.3bn) in the first six months [...]
NHS to receive £250m funding boost for AI development lab August 8, 2019 The NHS is set to receive £250m in funding to boost research into artificial intelligence that could help develop treatments for cancer, dementia and heart disease. The money will be funnelled into a new National Artificial Intelligence Lab, health secretary Matt Hancock said today. Read more: Government to announce emergency £2bn NHS funding injection AI [...]
Labour government would cause sterling to plunge 10 per cent: report August 8, 2019 A Labour government would cause an “immediate” 10 per cent drop in sterling, or more if it followed a no-deal Brexit, a report has today warned. Amid growing reports that an autumn general election could be on the cards, Oxford Economics claims a Labour government would cause significant damage to the UK’s economy. It argues [...]
British Airways warns customers of ‘knock-on’ disruption after IT glitch August 8, 2019 British Airways has warned customers there may be some “knock-on” disruption after an IT glitch caused chaos at London airports yesterday. BA said it planned to run a normal schedule but that passengers should check their flight status on its website for updates. Read more: British Airways IT outage forces airline to cancel flights Passengers [...]
New Debenhams CEO has ‘clear plan’ to save department store chain August 8, 2019 Restructuring expert Stefaan Vansteenkiste said he has a “clear plan” to save Debenhams after the retailer confirmed his appointment as its new chief executive today. Vansteenkiste, a director at turnaround specialist Alvarez & Marsal, joined the embattled department store in April this year as chief restructuring officer. Read more: Debenhams chairman to step down Previously [...]
Muddy Waters: Shortsellers are targeting Neil Woodford investments after Burford Capital August 8, 2019 The head of Muddy Waters has warned that shortsellers are attacking Neil Woodford investments a day after he shorted Burford Capital, burning almost £1.8bn off the value of the company. “Shortsellers do definitely look for where Neil Woodford is invested, especially when he’s invested outside of large cap value,” said Carson Block. Read more: Burford [...]
AA share price climbs as earnings accelerate at motor breakdown insurer August 8, 2019 Breakdown insurance firm AA saw its share price rise almost five per cent this morning as it told investors that half-year earnings are set to outpace last year’s growth. Read more: Hasting insurance struggles as rate change sinks profits Earnings before interest, tax, depreciation and amortisation (Ebitda) for the six months to July will beat [...]
MPs to probe UK-China trade following Huawei saga August 8, 2019 A group of MPs is to scrutinise the UK’s trading relationship with China, in the wake of the Huawei debacle. The International Trade Committee has launched an inquiry looking at the “opportunities, challenges and risks” in trading with China both now and any that may emerge in the future. Read more: Huawei shrugs off US [...]