Cummings cements power over ministerial aides September 18, 2019 Boris Johnson’s top aide Dominic Cummings has handed himself more power over ministers’ advisers, as part of ongoing efforts to centralise control. Special advisers, known as Spads, were this week sent new employment contracts stating that disciplinary matters rest “with your appointing minister and the Prime Minister’s chief of staff”, according to The Times. Previously, [...]
Engineer killed working on travelator at Waterloo station September 18, 2019 An engineer has been killed while working on a moving walkway at Waterloo station. A police investigation is currently underway into the incident, which occurred in the early hours of this morning. Read more: Parcel bombs found at Waterloo linked to devices sent to British Army A one-way system has been put in place, with [...]
Brexit: Juncker blasts PM for not offering written proposals September 18, 2019 The President of the European Commission has called for “operational proposals in writing” to avoid the increasingly “palpable” risk of a no-deal Brexit. Speaking this morning, Jean-Claude Juncker said he has “no emotional attachment” to the Irish backstop – a softening towards the EU’s position on the matter. Instead he said he would “stand by [...]
Car dealer Pendragon swings to loss as it gives gloomy outlook for rest of year September 18, 2019 Car dealership firm Pendragon has posted a pre-tax loss of more than £32m as it cited “very challenging” market conditions that it did not expect would improve for the rest of the year. The figures Pendragon posted a pre-tax loss of £32.2m, down from a profit of £28.4m the previous year. Read more: Pendragon called [...]
British businesses insert Brexit contingencies in supply contracts to prepare for no-deal September 18, 2019 Two thirds of British businesses that import from European suppliers have penned Brexit clauses which would let them renegotiate if tariffs are introduced after the UK leaves the EU. British firms are set to bear the cost of any tariffs when they buy components from inside the EU when the UK leaves. This could be [...]
Profits slide and sales wane at B&Q owner Kingfisher September 18, 2019 Kingfisher reported falling profits and sales this morning as its struggling B&Q chain held back the firm’s turnaround efforts. Pre-tax profits at the group hit £245m in the first half of 2019, falling from £280m in the same period a year ago. Read more: Retail footfall drops again Blaming “disappointing” performances in its core UK [...]
Tube delays: Commuters face rush hour chaos on four lines after Baker Street signal failure September 18, 2019 Severe delays hit commuters in rush hour today as a signal failure at Baker Street caused disruption across several lines in a tough morning for Londoners. The fault led to severe delays on the Circle Line while the Hammersmith & City Line also suffered severe delays. Transport for London (TfL) urged commuters to use local [...]
Bank of England governor appointment set to be delayed September 18, 2019 The highly-anticipated appointment of a new Bank of England governor could be delayed until after a general election. The successor to Mark Carney is not likely to be decided by the current autumn deadline, according to reports in the FT. Carney, whose time on Threadneedle Street is set to come to an end on 31 [...]
Government intervenes in £4bn Cobham takeover over national security concerns September 18, 2019 The government has hauled in the £4bn foreign takeover of aerospace giant Cobham on national security grounds, it said today. Business secretary Andrea Leadsom issued a European intervention notice yesterday to scrutinise US private equity giant Advent International’s huge offer for the British company. Read more: Cobham investors give green light to £4bn private equity [...]
Lloyd’s of London profits rise to £2.3bn September 18, 2019 Lloyd’s of London has reported pre-tax profits of £2.3bn for the first six months of 2019. The historic insurance market’s profits before tax climbed from £600m in the previous year, with boss John Neal citing “increased discipline” for the rise. Neal said: “It is encouraging that the Lloyd’s market is showing increased discipline in 2019 [...]