Labour pledges an extra £40bn to NHS November 12, 2019 Labour will outspend the Tories on health by promising an extra £40bn to the NHS if it wins next month’s General Election. Shadow chancellor John McDonnell and shadow health secretary Jonathan Ashworth will unveil Labour’s health policy tomorrow, promising to increase the health and social care budget to £178bn in 2023-24 – an average annual [...]
Eddie Stobart shareholders face steep losses in potential rescue November 12, 2019 Shareholders in logistics firm Eddie Stobart face a steep cut in the value of their investment as part of a proposed financing deal. A proposed offer from former controlling shareholder Dbay Advisors would be at a huge discount to the price at which its shares were suspended in August, Sky News reported. Citing sources, the [...]
Former Man Group president Jonathan Sorrell to join Capstone November 12, 2019 The former president of FTSE 250-listed hedge fund Man Group Jonathan Sorrell is joining hedge fund Capstone. Sorrell, son of former WPP boss Sir Martin Sorrell, stepped down as an executive director of Man Group in September. He had been at Man Group since 2011 when he joined as chief financial officer. Previously, he had [...]
Donald Trump defends China trade war but says a deal ‘close’ November 12, 2019 US President Donald Trump has doubled down on his tariff war with China in a major speech, accusing the country of “ransacking” the American economy, but also saying phase one of a trade deal is “close”. Read more: China trade expo yields results as US deal hangs in balance Talking at the Economic Club of [...]
Newsquest outbids Reach in race for local publisher JPI Media November 12, 2019 Regional publisher Newsquest is said to have tabled a surprise bid for i newspaper owner JPI Media, threatening to derail the takeover efforts of rival Reach. Newsquest, which owns a string of titles including the Oxford Mail and Brighton’s Argus, is now thought to be the frontrunner in the bidding war, the Guardian reported, citing [...]
Peter Mandelson resigns from People’s Vote campaign November 12, 2019 Labour peer and ex-Tony Blair strategist Lord Peter Mandelson has quit the People’s Vote campaign. Mandelson and former Labour staffers Will Straw and Joe Carberry resigned from the board of Open Britain today, claiming that defacto chairman and PR tycoon Roland Rudd was about to push them out. Read more: People’s Vote staff reject new director [...]
Sanjeev Gupta’s Liberty House could sell Jaguar Land Rover supply business November 12, 2019 Sanjeev Gupta’s industrial conglomerate Liberty House is considering selling a major automotive supplier to Jaguar Land Rover (JLR) and Renault. The company has hired advisers from Grant Thornton to look into how to address market issues facing Liberty Pressing Solutions (LPS). Read more: GFG Alliance launches $15bn Liberty Steel Group One of the options on [...]
Huawei rewards staff with $286m in bonuses as it fights US sanctions November 12, 2019 Huawei is set to pay its employees ¥2bn ($286m) in bonuses and double almost all October salaries as a reward for helping to fight US sanctions. The Chinese telecoms giant has been banned from doing business with American companies amid concerns its technology could be used for spying – accusations it has denied. Read more: [...]
Vodafone threatens to withdraw from India amid dispute over taxes November 12, 2019 Vodafone has warned it may pull out of India unless the government grants it a series of remedies, after a court ruling in the country dragged the firm to a €1.9bn (£1.6bn) half-year loss. Chief executive Nick Read today said the firm was in a “critical” situation in the country amid a fierce battle with [...]
Meggitt boosts 2019 guidance after strong defence performance but warns 737 Max ban will squeeze margins November 12, 2019 Aerospace engineers Meggitt raised their full year guidance on the back of the company’s third quarter results, which saw overall revenue growth of 11 per cent. The results, which the group described as “stronger than previously expected”, have prompted the Bournemouth-based company to raise guidance to six to seven per cent, up from four to [...]