Unions suspend tomorrow’s Heathrow strike as talks continue August 4, 2019 Travel chaos may have been avoided at the last minute as Unite the Union called off its planned strike at Heathrow to continue negotiating with the airport. Firefighters, security guards and others had been scheduled to walk out from midnight, threatening services at London’s biggest airport. Talks are set to continue tomorrow, through the conciliation [...]
Cobham founding family says takeover ‘against national interest’ August 4, 2019 The founding family of British defence firm Cobham has asked the government to intervene in the £4bn takeover of the company by US private equity giant Advent International. Lady Nadine Cobham has reportedly written to defence secretary Ben Wallace and business secretary Andrea Leadsom urging them to block the deal, saying the takeover could threaten [...]
BBC accused of ‘pulling a fast one’ on producers over Britbox plans August 4, 2019 The BBC has been accused of “pulling a fast one” on independent production companies over new rules that could give Britbox an advantage over streaming rivals. The broadcaster has proposed new regulations meaning producers can sell their rights to streaming services after 12 months, but only subject to conditions that would be tougher for competitors [...]
Naked Wines hopes US float will be recipe for success after Majestic sale August 4, 2019 Online wine retailer Naked Wines is said to be preparing for a US listing following the sale of sister company Majestic. Chief executive Rowan Gormley has told investors he plans to list the firm on the tech-heavy Nasdaq exchange once the sale of Majestic goes through, the Sunday Times reported. Read more: Majestic Wine sells [...]
Losses build at L&G’s modular homes business August 4, 2019 Legal & General (L&G) suffered a loss of more than £20m in its modular home building division last year. The latest accounts for L&G Homes Modular show the business reported an operating loss of £20.6m last year. However, the loss was less than the £46.15m reported in 2017. Read more: Construction begins on Europe’s tallest [...]
Uber quest for long-term London licence faces rejection August 4, 2019 London’s transport bosses are set to snub Uber’s bid for a long-term licence in London when its probationary period runs out next month. The ride-hailing giant has been seeking a five-term licence to operate in the capital but is instead likely to be granted a shorter one that will run for less than two years, [...]
Arqiva owners plan break-up of company after ditching £6bn float August 4, 2019 The investment firms behind telecoms mast giant Arqiva are said to be planning a break-up of the business, two years after they ditched a £6bn float. Read more: BT eyes £80m sale of legal software division Tikit as it focuses on full-fibre The move would see Arqiva’s TV and radio towers business split from its [...]
Government loses bid to throw out legal challenges against franchise snubs August 4, 2019 The government has lost a bid to strike out legal challenges from three rail firms that are contesting its handling of controversial franchise bids. Last week The High Court gave Virgin, Stagecoach and Arriva Trains the green light to challenge former transport secretary Chris Grayling’s decision to ban them from bidding for the East Midlands, [...]
BT eyes £80m sale of legal software division Tikit as it focuses on full-fibre August 4, 2019 BT is said to be lining up a sale of its £80m legal software business as it looks to focus its efforts on rolling out full-fibre broadband across the UK. Tikit, which provides lawyers with software for time recording and case management, has been added to a list of fringe BT businesses up for sale, [...]
Andrew Bailey warns government to keep hands off the Bank of England August 4, 2019 A frontrunner in the race to become the next governor of the Bank of England has warned politicians not to meddle with its independence. Financial Conduct Authority (FCA) chair Andrew Bailey said the Bank’s independence was a “core underpinning” of economic stability, the Sunday Times reported. Bailey is among the favourites to take over in [...]