Top Tories give backing to Theresa May until Brexit deal is agreed in parliament April 15, 2019 Top Tories lined up behind the Prime Minister today to say a leadership contest should not be triggered until a Brexit deal is passed through parliament. Foreign secretary Jeremy Hunt, who is seen as a contender for the top job along with his predecessor, Boris Johnson, said talk of a leadership contest was a “sidetrack” [...]
Energy Ombudsman warns that customer complaints are being left unsolved as suppliers go bust April 15, 2019 An independent arbiter for the energy market has said a slew of company failures over the past year means customers are not getting redress for their complaints. The Energy Ombudsman told City A.M. it is working with regulator Ofgem to find a solution to the problem to “best serve the interests of consumers.” The Ombudsman [...]
Law firm Baker McKenzie confirms death of global chair Paul Rawlinson April 15, 2019 The global chair of Baker McKenzie has passed away, the law firm has confirmed. Read more: Over here: City's legal elite under pressure from expansion of US entrants Paul Rawlinson died unexpectedly on Friday, Baker McKenzie said. He had stepped back from his role temporarily last October due to exhaustion. “It is with great sadness that [...]
Former VW boss Martin Winterkorn faces criminal charges for emissions scandal April 15, 2019 German prosecutors have charged former chief executive of Volkswagen Martin Winterkorn with fraud for his alleged part in the car maker’s diesel emissions testing scandal. Read more: Volkswagen to build Tesla-style gigafactories for electric car batteries Today, just a stone’s throw away from the firm’s Wolfsburg base, prosecutors in Braunschweig said they were pressing charges [...]
Ground to a halt: Climate change protesters smash windows at Shell’s London HQ as blockades continue April 15, 2019 Climate change protesters have attacked the London base of Shell, smashing doors and defacing the property as thousands of activists took to the streets in central London today. Read more: The cheek of it: Climate activists strip off in parliament Demonstrators graffitied the oil giant’s headquarters near Waterloo and several appeared to have glued their [...]
IWG shares soar as it seals £320m TKP Japan office space franchise deal April 15, 2019 IWG has completed its first franchise sale to send shares soaring today, as it netted £320m from the sale of its Japanese division. Read more: IWG boss mulling £2.2bn break-up of serviced office space business The firm’s share price soared 23 per cent to hit 339.30p after reaching the strategic franchise arrangement with TKP Corporation. [...]
Jeremy Corbyn could hit bank profits as hard as a no-deal Brexit, warns Citi April 15, 2019 The election of Labour leader Jeremy Corbyn as prime minister would have as damaging an effect on UK bank profits as a no-deal Brexit, according to a note from investment bank Citi. Read more: Comrade Corbyn’s statist policies would tank the British economy Labour is edging ahead of the Conservatives in the polls, with the popularity [...]
British Airways finance boss to become new chief financial officer at parent company IAG April 15, 2019 British Airways' finance boss Steve Gunning is to take over as the chief finance officer at parent company IAG, replacing the incumbent Enrique Dupuy de Lôme. Willie Walsh's IAG said de Lome would also stand down as the board's executive director when the company holds its AGM in June, where Gunning's appointment will also be put [...]
You can’t blame Brexit for the British car industry’s woes April 15, 2019 Quizzed by Nick Hewer on Honda’s decision to close its Swindon plant earlier this month on BBC radio, I suggested that blaming Brexit for the demise of the Japanese auto makers factory with the loss of 3,500 jobs was not the whole story. Certainly, Brexit plays havoc with the vehicle industry’s sophisticated just-in-time supply chain. [...]
EU member states give green light on US trade talks despite French resistance April 15, 2019 The European Union has voted to kick off trade talks with the US in the face of French resistance, it announced today. Read more: US threatens tariffs on $11bn of EU goods A meeting of member states today voted overwhelmingly to give the European Commission, which deals with trade policy, the green light to start negotiations [...]