Losing height: Boeing suppliers’ shares take a hit after plane maker announces 737 Max production April 8, 2019 Some of Britain’s biggest engineering companies lost hundreds of millions in market value this morning after Boeing announced it will cut production of its 737 Max range by nearly 20 per cent. Suppliers to the US firm including Rolls-Royce lost out as investors digested the news announced on Friday afternoon, which is the latest blow [...]
Pinterest’s valuation slips as it looks to raise $1.3bn in New York float April 8, 2019 Social media platform Pinterest plans to raise as much as $1.3bn (£995m) when it floats on the New York Stock Exchange this year. Pinterest will put 75m shares up for sale at its initial public offering (IPO), with a price tag of between $15 and $17 per share. Read more: Lyft IPO paves way for [...]
City watchdog FCA strengthens post-Brexit ties with Australian regulator April 8, 2019 The City watchdog has strengthened ties with its Australian counterpart to secure cooperation post-Brexit. The Financial Conduct Authority (FCA) and the Australian Securities and Investments Commission (ASIC) have agreed two Memoranda of Understanding (MoU) covering trade repositories and alternative investment funds, to ensure continuity after the UK leaves the EU. Read more: FCA tells Morgan [...]
Battle of the brands: Addison Lee tops list of most London-centric brands April 8, 2019 Taxi firms, shopping centres and local radio stations are among the brands which are most well known only to those living in the capital, a new study has found. Addison Lee topped Yougov's index of the most London-centric brands, with 83 per cent of Londoners knowing about the taxi hire firm compared with 29 per [...]
MPs criticise Boris Johnson over fresh breach of financial reporting rules April 8, 2019 MPs have slammed Boris Johnson for a fresh breach of parliamentary financial reporting rules after he failed to promptly declare outside income from a share in a property. Read more: Boris piles pressure on May to avoid Labour customs union Brexit deal Johnson registered his interest in a 20 per cent share of a property [...]
Europe must lead the way with digital tax, says EU competition commissioner April 8, 2019 Europe must agree on plans for a new digital tax and should be the trailblazer if there is no global consensus, the EU’s competition commissioner Margrethe Vestager has said. The EU last month scrapped initial plans to roll out a digital tax on tech giants after opposition from several member states. Read more: EU drops [...]
Debenhams shares fall into the red as investors eye deadline for Sports Direct offer April 8, 2019 Debenhams shares dipped five per cent in early afternoon trading today, falling from a 15 per cent rise this morning as the deadline for a pre-pack administration draws near. The embattled department store chain is set to hand ownership to lenders tomorrow if Sports Direct fails to reach an agreement with the retailer by the end [...]
Tube strike action on the cards as Aslef and RMT unions reject TfL pay deal April 8, 2019 A second transport union has rejected a pay deal from Transport for London (TfL), increasing the chance of strikes on the Tube. The Aslef train drivers' union has rejected a 2.5 per cent pay rise from TfL, saying it matches the Retail Price Index (RPI) inflation rate which falls "way below" what Aslef is seeking. [...]
Tories must move to centre ground to win back young voters from labour, major study says April 8, 2019 The Conservatives must move towards the centre ground to reclaim millions of young voters who currently support Labour, a major report released today has said. Read more: Tories are the party of 'economic destruction', say business leaders Senior Tory cabinet ministers and backbenchers have backed the call of centre-right think tank Onwards to make the [...]
Theresa May to travel to Paris and Berlin for critical Brexit talks April 8, 2019 Theresa May will head to Berlin and Paris on Tuesday in an eleventh hour bid to convince EU leaders to grant another delay to Brexit. The Prime Minister will meet with German Chancellor Angela Merkel and French President Emmanuel Macron just a day before a crunch Brexit summit in Brussels. The EU will use that [...]