CMA launches investigation into Non-Standard Finance’s hostile takeover of Provident May 29, 2019 The competition watchdog has launched a merger inquiry into Non-Standard Finance’s (NSF) hostile takeover of rival sub-prime lender Provident. The Competition and Markets Authority (CMA) called in the offer this morning to investigate whether the merger would create a “substantial lessening of competition” in the market, a week before the takeover bid could be declared [...]
Stobart shares soar 10 per cent after firm gives upbeat outlook despite losses May 29, 2019 Stobart shares have soared by more than 10 per cent this morning following the release of its latest financial results showing promising growth at Southend Airport. Stobart did however see a plunge in its pre-tax profit as it counted the cost of a long legal battle as well as a long list of expensive writedowns. Read [...]
Profits slide at Telford amid housing uncertainty and move into rental market May 29, 2019 Telford Homes has posted a double-digit drop in full-year profits before tax, as a move into less lucrative rental projects and a slowdown in the capital’s property market hit the London-based housebuilder. The developer said margins had been hit by its direction away from traditional private house sales and into the build-to-rent market, as it [...]
From taxes to cats, Theresa May’s government has been an affront to Conservative ideology May 29, 2019 Theresa May has finally announced her resignation. How can we capture the flavour of her tenure in office? This can be found in the dry and measured content of the Economic and Fiscal Outlook from the Office for Budget Responsibility (OBR). The OBR stated in its latest publication in March 2019 that: “the tax receipts-to-GDP [...]
The next Tory leader is doomed before they have even started May 29, 2019 The parties of the Westminster establishment are terrified of us…. The Brexit Party is here to stay and to change politics for good.” With those triumphant words delivered after the European election results, Nigel Farage made public the worst-kept secret in Westminster: that his Brexit Party did not intend to be a one-hit wonder, as [...]
DEBATE: A new review recommends cutting university fees to £7,500 a year – is this a good idea? May 29, 2019 A new review recommends cutting university fees to £7,500 a year – is this a good idea? Matteo Bergamini, founder and director of Shout Out UK, says YES. Lowering tuition fees makes training for your future a little more affordable and provides better value for money. The current £9,000 fees act as a deterrent for [...]
Trainline IPO: Rail app seeks to raise £75m from June float May 29, 2019 Trainline hopes to raise at least £75m when it floats on the London Stock Exchange next month, it said today. Read more: Trainline confirms intention to float in London IPO The ticket-booking app expects to launch its initial public offering (IPO) next month, when it is confident of raising enough capital for a listing on [...]
Mind the expectation gap: Sadiq Khan is a disappointment to London May 29, 2019 When Sadiq Khan was elected as London mayor just over three years ago, it was off the back of some big promises. The new mayor reassured us that he was going to make our city a “safe and secure place”. He pledged that we wouldn’t pay a penny more to travel around the capital, although this [...]
Pret a Manger has swallowed up Eat – but how will it taste? May 29, 2019 High street lunchtime staple Pret a Manger recently announced it will be purchasing Eat, one of its main competitors. Pret also announced plans to convert many of Eat’s existing shops into Pret’s vegetarian spin off, Veggie Pret, in response to growing consumer demand for vegetarian and vegan options. Three per cent of the population currently [...]
Majority of UK’s tech workforce ‘prepared to leave the UK’, study finds May 29, 2019 Three-quarters of British tech workers would be willing to leave the UK to work abroad, despite London ranking as the world’s best city for tech, according to a new survey. Research by Boston Consulting Group (BCG) and Totaljobs found the majority of employees in the UK’s tech industry were the prepared to relocate, while just [...]