UK manufacturing output growth slumps to weakest level since May 2018, survey reveals March 20, 2019 Manufacturing output growth in Britain over the past three months was at its weakest level since May 2018, with businesses pointing the finger at Brexit, a new survey has shown. However, companies reported that their export order books grew compared to the three months to February and remain above the long term average, according to the [...]
Google hit with €1.5bn EU penalty for ‘killing competition’ with Adsense advertising practices March 20, 2019 Google has been hit with a €1.49bn (£1.28bn) fine for abusing its dominant online advertising market position. Read more: Google Doodle celebrates 30th anniversary of the World Wide Web The European Commission accused the tech giant of preventing rivals from gaining a foothold in the market it loomed over with its Adsense software, thereby denying [...]
BMW flashes warning lights as mounting tech costs hit manufacturer’s forecasts March 20, 2019 BMW has alerted investors to a more than 10 per cent expected loss in group pre-tax profit for 2019, as the car manufacturer announced a far-reaching €12bn (£10.3bn) savings plan. Shares fell five per cent on the news. Last week, the firm said it would move up a gear in its efforts to cut costs [...]
Superdry co-founder Julian Dunkerton ‘disappointed’ after shareholder advisory opposes motion to rejoin the board March 20, 2019 Superdry co-founder and former chief executive Julian Dunkerton said he was "disappointed" after an influential shareholder advisory firm recommended that investors block his reinstatement to the board. Last night it emerged that Institutional Shareholder Services (ISS) had warned investors that Dunkerton was partly to blame for the issues facing the struggling brand. Read more: Shareholder adviser opposes [...]
UK house price growth hits six-year low as experts warn of ‘Brexit downward spiral’ March 20, 2019 London house prices fell 1.6 per cent in the year to January, official data revealed today, as experts warned a mix of Brexit uncertainty and the death of buy to let are hurting the value of homes. The sharp price drop in the capital's housing market meant overall UK house prices rose just 1.7 per [...]
Labour MP launches last-minute challenge to May’s decision to pursue ‘short’ Brexit delay March 20, 2019 A Labour MP has tabled a last-ditch challenge to Theresa May's decision to seek only a short delay to Brexit. Alison McGovern formally requested an emergency parliamentary debate today on the Prime Minister's plans to extend Brexit. Read more: Prime Minister rules out long Brexit delay It is not clear if her emergency debate motion [...]
Wildwood restaurant owner Tasty shares plunge as it warns further site closures on the way March 20, 2019 Shares in Wildwood restaurant owner Tasty plunged this morning as the company warned that it may be forced to make further closures this year after shuttering eight underperforming sites. The figures Shares plummeted more than 17 per cent as the restaurant group posted dismal full-year results for 2018, blaming challenges in the casual dining sector as [...]
Inflation edges up from two-year low as food and alcohol prices rise March 20, 2019 The UK inflation rate edged up from two-year lows last month as food and alcohol prices rose. The Consumer Price Index (CPI) 12-month rate was 1.9 per cent in February, up from 1.8 per cent in January, according to the Office for National Statistics (ONS). Read more: UK inflation falls close to a two-year low Rising [...]
Disney closes $71bn takeover of 21st Century Fox as it puts Netflix in its sights March 20, 2019 Disney has completed its mammoth $71bn (£54bn) takeover of 21st Century Fox in a deal that transforms the media landscape and puts Netflix’s domination at risk. The deal, which went through shortly after midnight in New York, sees Disney take control of Rupert Murdoch’s film and TV business, as well as National Geographic and a controlling [...]
Kier shares fall as outsourcer swings to £35.5m loss March 20, 2019 Kier has fallen to a £35.5m loss for the second half of 2018, but said it is in a stronger position after hitting up investors for £250m in a disastrous rights issue that missed its target at the end of last year. Read more: Embattled outsourcer Kier's net debt spirals again after 'accounting error' The figures [...]