Manufacturing activity bounces back after poor October showing, but Brexit doubts remain November 20, 2018 Manufacturing activity picked up in the quarter to November, as the industry rallied after a disappointing October report, according to the latest statistics from the Confederation of British Industry (CBI). The organisation's latest monthly Industrial Trends Survey said it expected manufacturers to benefit from ongoing global economic expansion and a low sterling exchange rate. But weak growth [...]
Restaurant Group shareholders voice anger over £600m Wagamama price tag November 20, 2018 Nervous investors have raised concerns over the price of the Restaurant Group’s (TRG) proposed £600m acquisition of Wagamama as a major shareholder announced its intention to vote against the deal. Columbia Threadneedle, which owns 7.7 per cent of TRG, will oppose the proposal at a shareholder vote next week, it announced today. Frankie and Benny’s owner [...]
Toys R Us owners KKR and Bain Capital to pay $20m to laid-off employees November 20, 2018 Two former owners of Toys R Us have agreed to pay $20m (£15.6m) to employees who lost their jobs following its collapse. KKR and Bain Capital have set up a severance fund in the US after the $6.9bn toy store chain filed for bankruptcy last year and confirmed it would close all 800 US stores [...]
Buzzfeed founder hints at media mega-merger as the publisher launches new membership scheme November 20, 2018 Buzzfeed’s chief executive has said he would consider a merger with other media organisations as the publisher launches a shake-up of its business model. Jonah Peretti, who co-founded the website in 2006, said on Monday a series of mergers between online media companies could be the answer to the current challenges faced by news organisations. [...]
Weekly sales slump at John Lewis ahead of crucial Christmas period November 20, 2018 John Lewis Partnership has suffered its second consecutive week of tumbling sales, in a downturn that the retailer will be hoping to reverse as it enters Black Friday and the Christmas shopping season. Britain’s largest department store chain said today that total sales in the week to 17 November had plunged 6.8 per cent year-on-year, [...]
Max fac is back to help solve Irish backstop worries, Downing Street reveals November 20, 2018 Theresa May is reviving plans to use technology to prevent a hard border with Ireland in a bid to win support for her under-fire Brexit deal. The so-called maximum facilitation proposal – dubbed ‘max fac’ – was one of the customs arrangements considered by the Government last year before being dismissed. It has support among [...]
Moneyfarm expands into Germany with acquisition of digital wealth manager Vaamo November 20, 2018 Digital wealth manager Moneyfarm has expanded into Germany with the acquisition of Vaamo, the UK-based company announced today. The deal – the value of which was not disclosed – marks Moneyfarm’s entrance into its third European market, after establishing a presence in the UK and Italy. Vaamo co-founders and chief executives Thomas Bloch and Oliver [...]
Jacob Rees-Mogg admits no confidence letters are drying up in plot to oust Theresa May November 20, 2018 Jacob Rees-Mogg has admitted the ousting of Theresa May may have to wait until next month after the Brexiter plot ran out of steam this week. The high-profile Brexiter, chairman of the European Research Group of Tory MPs, used an impromptu press conference last Thursday to announce he would be putting in a letter of [...]
Ivanka Trump reportedly sent hundreds of White House emails from private account November 20, 2018 Ivanka Trump sent hundreds of emails about government business from a personal email account, it is reported. President Trump’s daughter, who works as an adviser to her father in his administration, reportedly breached federal records rules with many of the messages sent to White House aides, officials and her assistants. The Washington Post said yesterday [...]
Spain threatens to reject draft Brexit deal unless Gibraltar is excluded from EU talks November 20, 2018 Spanish Prime Minister Pedro Sanchez has said his country will reject the draft Brexit deal unless it makes clear that talks regarding the status of Gibraltar will be considered separately. Spain holds a claim to Gibraltar, which came under Britain's control following the 1713 Treaty of Utrecht. The BBC reported that Spain has said it [...]