General election: Ed Vaizey joins MPs stepping down in December November 6, 2019 Former cabinet minister Ed Vaizey has announced he will step down at the December general election. Calling it “one of the hardest [decisions] I have ever taken”, Vaizey said the time was right to move on. “I am passionate about the arts, our creative industries and technology and I want to specialise in these sectors,” [...]
Ryanair has grounded three Boeing 737 planes due to cracks November 6, 2019 Ryanair has grounded three planes due to cracks between the wing and fuselage, but has not disclosed it to the public. Three of the airline’s Boeing 737s have been affected by so-called “pickle fork” cracks, which have led to 50 planes being grounded since 3 October across the aviation industry. Read more: Ryanair will ask [...]
Intu braced for income drop as retail CVAs take a toll November 6, 2019 Shopping centre owner Intu is expecting to report a sharp drop in rental income for 2019 after a higher-than-anticipated volume of insolvencies from its occupants. Shares in the group tumbled 13 per cent after the bell this morning as the real estate giant revealed that it might have to sell off assets or make a [...]
Money walks: 15-minute daily stroll could give world economy $100bn boost November 6, 2019 Amid tit-for-tat trade wars and rising civil unrest, economists have been fretting over how to avoid another global economic slowdown. But new research has offered an unorthodox approach to boosting the world’s finances: a 15-minute walk. The world economy could grow by an average of $100bn a year until 2050 if all adults aged 18-64 [...]
Hope for German economy as factory orders beat predictions November 6, 2019 German industrial orders picked up by more than expected in September, official data has shown, providing a glimmer of home for the country’s weak economy. Read more: Eurozone ‘remains close to stagnation’ amid manufacturing slump Europe’s biggest economy has had a torrid 2019, thanks in large part to a slump in global demand hurting its [...]
Tory chairman James Cleverly defends ‘fake news’ clip of Labour’s Brexit strategy November 6, 2019 Tory chairman James Cleverly has denied that a clip of Labour’s shadow Brexit secretary was edited to suggest the party has “no plan” for leaving the EU. James Cleverly defended the use of the clip of Sir Keir Starmer’s appearance on Good Morning Britain, saying it was not “doctored”. Read more: Most Brits are left [...]
BMW beats estimates with profit rise November 6, 2019 BMW has reported a sharp rise in earnings, trumping analyst estimates following one-off accountancy changes and a rise in SUV sales. The German luxury car manufacturer posted earnings before interest and taxes (Ebit) of €2.29bn (£1.97bn) during the last quarter, jumping 33 per cent compared with the same period last year. Read more: A look [...]
Mothercare shares surge after UK business enters administration November 6, 2019 Shares in Mothercare have soared this morning after the maternity and baby retailer’s UK business entered administration. Mothercare’s share price surged more than 36 per cent this morning, to 13p, after management firmed up administration plans and revealed further details on the company’s turnaround proposals. Read more: Mothercare shuts up shop in UK Last night [...]
Hong Kong bourse posts profit drop amid civil unrest and trade war November 6, 2019 Hong Kong’s bourse has reported a fall in profit during the last quarter, as months of political unrest took its toll on the stock exchange operator. Profit at the Hong Kong Exchanges and Clearing (HKEX) hit HK$2.2bn ($217.8m) in the three months to September, tumbling 9.5 per cent compared to the same period last year. [...]
Vision Fund’s Wework splurge drags Softbank to $6.4bn loss November 6, 2019 Softbank’s Vision Fund’s soured bets on tech prospects like Uber and Wework saw the fund lose $8.9bn and drag its parent company to its first quarterly loss in 14 years today. Softbank’s high profile splurge on Wework saw the company fall to a $6.4bn quarterly loss in results revealed today. Read more: Wework hits the [...]