Regulators must do more to help consumers navigate markets, national audit body says March 20, 2019 Britain’s four main regulatory bodies need to do more to help consumers navigate increasingly expensive markets and get the best deals available, the National Audit Office (NAO) said today. Debt was the most common problem people sought help with across the utilities, communications and financial services sectors due to high bills and credit payments, the NAO said this [...]
Private equity firms Apax Partners and Warburg Pincus approach Inmarsat with buyout proposal March 19, 2019 British satellite company Inmarsat is in talks with private equity firms Apax Partners and Warburg Pincus over a buyout deal. The firms, which were joined by Canada Pension Plan Investment Board, have proposed to make a cash offer of $7.21 (£5.43) per Inmarsat share, the company announced today, which would value Inmarsat at about $3.3bn. [...]
Liz Truss promises focus on ‘less sexy’ transport projects in spending review March 19, 2019 Treasury minister Liz Truss has taken a thinly-veiled swipe at her cabinet colleagues as she hit out at politicians telling people what to eat and how much to exercise. In a speech setting out her priorities for a review of spending in Whitehall, Truss said the government should not be telling “capable citizens” what to [...]
WPP board ‘finally came to their senses’ over £2m bonus, says Sir Martin Sorrell March 19, 2019 Advertising veteran Sir Martin Sorrell has said the board of WPP “finally came to their senses” over his £2m bonus, which it has paid out almost a year after his abrupt exit. Speaking at Advertising Week Europe this evening Sorrell, who left the ad group amid allegations of misconduct, denied any wrongdoing as he took [...]
Shareholder advisory firm opposes Superdry co-founder’s bid to return to board March 19, 2019 Influential shareholder advisory firm ISS has recommended Superdry investors vote against co-founder and former chief executive Julian Dunkerton’s reinstatement to the board. ISS also urged shareholders to oppose the appointment of Dunkerton’s ally and Boohoo chairman Peter Williams to the board at a meeting on 2 April. Read more: Superdry ‘supercharged’: Founder unveils bid for [...]
CYBG raises business banking fees to ‘stay competitive’ just weeks after RBS competition fund snub March 19, 2019 Clydesdale and Yorkshire bank owner CYBG has increased its business banking fees to remain “competitive” just weeks after missing out on a share of a £425m RBS competition fund. CYBG was snubbed in favour of three challenger banks, Metro, Starling and ClearBank last month despite investing heavily in its bid. Read more: Three challenger banks [...]
Google announces Stadia game streaming platform March 19, 2019 Google has announced a video game streaming service called Stradia as the tech giant attempts to challenge Sony and Microsoft in the $140bn gaming market. Stadia will allow users to play games on their internet browser without having to download any content or buy a new console, Google announced at the Game Developers Conference in [...]
Mike Ashley’s Sports Direct makes official £139m offer for Findel March 19, 2019 Sports Direct has made an official bid for home shopping firm Findel as it sent out an offer document to shareholders. The company, which is currently the firm’s largest shareholder, has offered to buy the rest of Findel’s stock for 161p per share. Read more: Debenhams pressure mounts amid Sports Direct comments Earlier this month [...]
UK airlines, lorries and bus operators to travel to EU as normal in event of a no-deal Brexit March 19, 2019 UK airlines, lorries and bus operators will be able to travel to the EU as normal in the event of a no-deal Brexit. EU ministers today formally adopted laws that will mean lorries will not need permits for journeys into the EU until the end of 2019. Bus and coach operators that already have permission to [...]
UK needs to commit to new political ‘event’ to get Brexit delay, warns Michel Barnier March 19, 2019 A long delay to Brexit must be linked to a new political event or process, the EU’s chief negotiator has warned. Speaking in Brussels, Michel Barnier set out the reassurances he believes the EU 27 will want from the UK before granting an extension to the negotiating period. Theresa May is set to write to [...]