US Fed slows balance sheet reduction and holds dovish line on interest rates March 20, 2019 The Federal Reserve tonight announced that it will hold interest rates and predicted no hikes this year in a dovish decision amid stronger economic headwinds than previously anticipated. In line with market expectations the Fed also said it would slow the reduction of its holdings of US Treasury bonds, built up following its programme of quantitative [...]
Pimlico Plumbers boss Charlie Mullins blasts ‘small-minded haters’ after gig economy tribunal victory March 20, 2019 The boss of Pimlico Plumbers Charlie Mullins has blasted critics of his company as “small-minded haters," following a victory today at an Employment Tribunal in Croydon on whether a former plumber at the company was entitled to holiday pay. “This decision is a vindication of everything that Pimlico Plumbers stands for. It also sends a message [...]
Donald Tusk: Brexit delay only if MPs pass May’s deal March 20, 2019 The EU will grant Theresa May’s request to delay Brexit if MPs finally pass the withdrawal agreement next week, European Council president Donald Tusk has confirmed. May formally requested a delay to the UK leaving the EU on 29 March in a letter to Tusk on Wednesday, asking for 30 June to be the new [...]
Fintech unicorn Oaknorth more than trebles profits continuing rapid growth March 20, 2019 London fintech unicorn Oaknorth more than trebled profits last year and grew its loan facilities to £2.2bn as the challenger bank’s rapid growth continued. The digital bank, which provides loans for fast-growing British businesses, has now lent more than £2.5bn since its launch in September 2015. Read more: UK fintech unicorn Oaknorth to nail $440m round [...]
Boeing Embraer joint venture ready for take off as leadership team named March 20, 2019 Boeing has named two executives to head up its proposed $4.2bn (£3.2bn) joint venture with Brazilian aerospace firm Embraer. John Slattery, Embraer’s current commercial aviation boss, will become chief executive of the partnership, which is still waiting for approval by Brazilian antitrust regulators. Read more: Lion Air 737 Max plane pilots 'scoured handbook' before crash [...]
Starbucks delivery expands across central London while company continues green push March 20, 2019 Coffee drinkers across central London will be able to get their daily caffeine fix delivered straight to the office as Starbucks expands its delivery trials and starts tests of new greener cups in the capital, the company announced today. The coffee chain trialled Starbucks Delivers, its collaboration with Uber Eats, in parts of London last [...]
Institute of Directors’s next boss will receive barely half previous leader’s salary March 20, 2019 The next head of the Institute of Directors (IoD) will be paid far less than its former leader as the group seeks to move on from recent controversy. The IoD, which represents Britain’s business leaders, confirmed today that it has begun searching for a new director general and will offer them a salary of no [...]
Apple reveals UK pricing for new Airpods ahead of TV streaming service launch March 20, 2019 Apple has updated its wireless Airpods headphones before a likely launch of its very own streaming service. Read more: Netflix will not partner with Apple’s streaming service The tech giant’s new set of Airpods will boast a better battery life, Apple’s new, more powerful chip, as well as the option of a wireless charging case. [...]
TfL slashes £1bn deficit in ‘relentless’ cost-cutting drive but warns of continued economic woes March 20, 2019 Transport for London (TfL) has halved its near £1bn budget deficit thanks to an aggressive cost-cutting drive. The transport body said a "relentless focus on efficiency" and "tight financial management" will help it to get the £968m deficit – partially caused by the loss of the government grant and Sadiq Khan's fare freeze for single journeys – [...]
Toyota defies Brexit blues to produce new model at UK factory March 20, 2019 Toyota has given Britain’s car manufacturing industry a much-needed boost today, announcing it will produce a new model for Suzuki at its plant in Derbyshire. The car will be based on a Toyota Corolla model which is already built at the plant, and comes as part of a wider global partnership announced by the two [...]