Business committee chair Rachel Reeves attacks defiant Thomas Cook leadership October 15, 2019 Business select committee chair Rachel Reeves launched a stinging attack on Thomas Cook executives today in a heated evidence session into the firm’s collapse last month. After hearing evidence on how the company was allowed to fall into liquidation, putting 9,000 people out of a job and 150,000 more stranded abroad, she told chief executive [...]
First time buyer mortgages hit 12-year high October 15, 2019 The number of first time buyer mortgage completions in August soared to the highest level since before the financial crisis. There were 35,010 mortgage completions for new buyers – an increase of 0.7 per cent on August last year – reaching the highest level since 2007. Read more: Mortgage approvals grow despite Brexit uncertainty Andrew [...]
Extinction Rebellion defy police ban on London protests October 15, 2019 The co-founder of Extinction Rebellion has defied a police ban on the group by protesting on top of the Department for Transport (DfT). Dr Gail Bradbrook stood on a cherrypicker at the top of the department this morning, blocking the entrance. Read more: Police ban Extinction Rebellion protesters from London She used a hammer to [...]
Fees fall flat at Hays as uncertainty slows hiring October 15, 2019 Recruitment firm Hays reported flat net fees in the first quarter as Brexit uncertainty dampened hiring activity in the UK. The company said there was strong hiring in the US and China, however, Germany, the company’s largest market, reported flat net fees. Read more: Shares in Pagegroup tumble as it warns on profits for second [...]
Thomas Cook CEO Peter Fankhauser: I worked ‘extremely hard’ for pay October 15, 2019 Thomas Cook chief executive Peter Fankhauser defended his pay at a heated showdown with MPs today. Fankhauser said he was “deeply sorry” for the holiday operator’s collapse, but added that he “worked extremely hard” for his pay. Read more: Jet 2 owner sees bookings rise after collapse of Thomas Cook “In relation to [a] normal [...]
Eleventh hour Brexit proposals to be tabled by UK October 15, 2019 UK negotiators are poised to table new proposals in a last-ditch bid to secure a Brexit deal. According to Irish broadcaster RTE, the latest set of proposals – which are being put forward after the supposed deadline for a deal has passed – follow a 90 minute meeting between Prime Minister Boris Johnson and DUP [...]
Sainsbury’s beats rivals to report sales growth October 15, 2019 Sainsbury’s beat its rivals to become the only major UK supermarket to report sales growth in the last 12 weeks. The grocer’s sales increased 0.6 per cent, its fastest rate since October last year, while the other “Big Four” supermarkets- Tesco, Asda and Morrisons – saw sales decline 0.2 per cent, 0.9 per cent and [...]
Marston’s forecasts lower profit on food sales slump October 15, 2019 Pub operator Marston’s said it expects to post a dip in profit this year due to weakening food sales. Shares fell more than eight per cent after the Pitcher and Piano owner said it expected to report underlying profit before tax of around £101m, compared to £104m last year. Read more: Beer sales slump dampens [...]
Shares in UK engineer Renishaw fall as profit slumps October 15, 2019 Shares in UK engineering firm Renishaw have fallen 6.4 per cent after the company warned that trading conditions will “remain challenging” and revealed a dramatic fall in profit. Renishaw, which makes high-tech manufacturing machines, said adjusted profit before tax was £4.3m in the three months to the end of September, just a fraction of the [...]
Neil Woodford’s ‘sorry saga’ finally ends as flagship fund set to be wound up October 15, 2019 Neil Woodford is to be fired from his flagship fund, which will shortly be wound up, the administrator charged with overseeing its frozen assets has announced. Corporate director Link Fund Solutions has written to investors to say it will return their cash as soon as possible from Woodford Investment Management. Read more: Watchdog calls for [...]