Inmarsat posts fall in first-quarter profit ahead of $3.4bn private equity takeover May 1, 2019 Satellite communications firm Inmarsat has posted a double-digit fall in profits for the first quarter ahead of its $3.4bn (£2.6bn) private equity takeover. Read more: Inmarsat prepares to go private in $3.4bn takeover The figures Inmarsat posted a 0.4 per cent uptick in revenue to $346.9m in the three months to the end of March. [...]
Revenue dips at Heathrow despite record passenger numbers May 1, 2019 London’s biggest airport Heathrow will invest almost £1bn in its facilities as it prepares for a ruling on a proposed third runway. The airport this morning said that profit before tax fell nearly 57 per cent to £57m in the first three months of the year, but rose 73 per cent on an adjusted basis. Read [...]
Extinction Rebellion climate change protesters want to destroy the UK’s financial sector May 1, 2019 The founder of Extinction Rebellion has ambitions to upend the UK’s financial system after her organisation targeted the City in two weeks of London protests. Gail Bradbrook wants to provoke a “mass refusal” to pay off loans and mortgages in a bid to throw London’s financial district into disarray following action that saw climate change [...]
Persimmon and Bellway homes found to have significant fire safety issues May 1, 2019 New-build homes made by housing developers Persimmon and Bellway have been sold with missing or incorrect fire barriers, subjecting residents to potentially dangerous fire safety issues, according to reports. Read more: Grenfell-style combustible cladding ban to cost £337m The lack of barriers, designed to halt the spread of flames, could be behind the spread of [...]
Former car boss Ghosn ‘ran up €11m in suspicious expenses’ May 1, 2019 Embattled car boss Carlos Ghosn racked up costs of €10.9m (£9.4m) in questionable expenses including luxury clothing and lavish international travel, an audit carried out by Nissan and Renault has found. The audit highlighted millions of pounds in costs for items including Cartier watches and a trip to Brazil for the Carnival festival, according to [...]
High street giant Next credits warm Easter weather as sales blast past expectations May 1, 2019 High street bellwether Next welcomed robust sales growth in its latest quarter as revenue beat its own estimates. Read more: Next says 'no evidence' Brexit has hurt sales as profits dip The retailer credited “unusually warm weather” over Easter for the 4.5 per cent year-on-year rise to sales of around £10m. While high street stores [...]
Failing to discuss your finances with loved ones could cost you thousands – here’s how to broach the subject May 1, 2019 They say money talks. But actually, it turns out that it doesn’t, because discussing financial matters is a subject that few families want to broach. In fact, according to a survey by More2Life, a third of adult children aged 30 to 55 have never discussed their parents’ financial circumstance as a family. But why is [...]
UK house prices suffer fifth month of ‘subdued’ growth amid Brexit uncertainty May 1, 2019 UK house price growth remained flattened in April, as the annual price growth rate rose less than one per cent, the latest data showed today. Read more: London house prices plunge in blow to UK housing market UK house price growth remained quiet in April, as the annual price growth rate rose less than one [...]
Passengers face disruption at Luton Airport as Addison Lee drivers stage 24-hour strike May 1, 2019 Luton Airport passengers will face difficulty getting home today as Addison Lee drivers stage their first 24-hour strike over claims they are earning less than the minimum wage. Addison Lee was granted the exclusive right to operate at Luton Airport in 2012, meaning passengers will have few other options to get home by taxi if Addison Lee [...]
City Moves for 1 May – Who’s switching jobs at Mirriad, Discoverie Group and SCS Group? May 1, 2019 Today's City Moves includes Mirriad, Discoverie Group and SCS Group. Mirriad Mirriad, the computer vision and AI platform company, has announced abBoard change as Stephan Beringer, chief executive officer, continues his strategic refocusing of the business. John Pearson is appointed to the role of non-executive chairman, with effect from 30 April. He was previously appointed [...]