Peugeot maker PSA Group boosts revenue despite sales slip October 23, 2019 Peugeot maker PSA Group today reported higher revenue for the third quarter, even as its sales slowed globally. The French carmaker was boosted by higher demand for its more expensive sports utility vehicle (SUV) models. PSA said revenue from the three months ended September rose one per cent to €15.6bn (£13.5bn). Read more: Peugeot maker [...]
CMA fines concrete cartel £36m for pushing up prices for seven years October 23, 2019 A concrete cartel must pay a £36m fine for breaking competition law for almost seven years. The Competition and Markets Authority (CMA) has ordered three firms to cough up after fixing prices between July 2006 to March 2013. Read more: Audit watchdog calls on firms to improve reporting on climate change They also shared the [...]
Starling Bank raises £30m amid European expansion plans October 23, 2019 Starling Bank has raised £30m as part of an effort to ramp up its expansion into Europe. The British fintech giant, which claims to be on track to reach 1m accounts by the end of this year, has been tapping up fresh funds for its bullish expansion and investment in B2B banking services as well [...]
Design flaws linked to Boeing’s Lion Air crash, families of victims told October 23, 2019 Design troubles in Boeing’s 737 Max have been linked to the crash of a Lion Air flight which killed almost 200 people. Indonesia has reportedly shared a report into the details of a deadly crash with the families of victims, revealing that the Lion Air 737 MAX’s Maneuvering Characteristics Augmentation System (MCAS) was based on [...]
Boris Johnson to seek general election if EU opts for longer Brexit delay October 23, 2019 Boris Johnson will press for a general election if the EU moves to delay Brexit until 2020, Number 10 has hinted. The Prime Minister was forced to pause his Brexit bill yesterday after MPs rebutted his attempt to get it through parliament in just three days. Read more: Boris Johnson ‘pauses Brexit bill’s passage after [...]
Metro Bank chairman Vernon Hill insists ‘best is yet to come’ after quitting with immediate effect October 23, 2019 Metro Bank chairman Vernon Hill is stepping down today with immediate effect, resigning from the embattled lender after a torrid 12 months. The colour and controversial chairman has insisted that “the best is yet to come” for the troubled bank, which is set to reveal its third-quarter results after the bell today. Read more: Bond [...]
Let’s take a closer look at Neil Woodford’s dubious investment decisions October 23, 2019 The man with the Midas touch. That was how people saw Neil Woodford only a few short years ago. But things didn’t work out that well for King Midas in the end, and the same can be said for the former star manager, whose reputation is in tatters and whose investment empire now set to [...]
Facebook vs. democracy: Let’s get serious about disinformation October 23, 2019 On Monday, Facebook announced new measures to help combat the spread of disinformation in the looming UK General Election. Plans include working with fact checkers, tracking the origin of political ads, and doing more to take down content that breaks Facebook’s rules. Read more: The number of deepfake videos online has almost doubled While positive, [...]
Debate: Is the re-election of Justin Trudeau as Prime Minister good news for Canada? October 23, 2019 Is the re-election of Justin Trudeau as Prime Minister good news for Canada? Yes – Dr Joe Zammit-Lucia is a co-founder and trustee of Radix, the think tank for the radical centre. Both Justin Trudeau’s re-election and the fact that he will not command a majority are good news for Canada. Canada is essentially a [...]
City Moves for 23 October – Who’s switching jobs at Jones Day, Merkle and Therium? October 23, 2019 Today’s City Moves includes Jones Day, Merkle and Therium Jones Day Global law firm Jones Day has announced the appointment of James Pickavance as a partner in the firm’s global disputes practice in its London office. James has nearly two decades of experience handling disputes around the world, representing contractors, owners, developers and consultants in [...]