Kraft Heinz has “amicably agreed” to withdraw its $140bn mega-bid for Unilever February 20, 2017 US food giant Kraft Heinz shocked the financial world last night, scrapping its $140bn (£113bn) takeover bid for Unilever just two days after news of the offer was leaked. Kraft said it had "amicably agreed" to abandon the proposed merger, which would have been the second largest in corporate history, and the largest ever acquisition of [...]
Entrepreneurs remain optimistic after strong growth February 20, 2017 The UK’s entrepreneurs remain optimistic about business prospects, following a period of strong growth. In a poll conducted by Ernst and Young (EY), 69 per cent of entrepreneurs reported an increase in profits in the last 12 months, with 38 per cent experiencing double-digit growth. That positive trend looks set to continue, despite any recent [...]
Will Marine Le Pen’s Front National provide Europe with its next big political shock? February 19, 2017 With Marine Le Pen’s hard-right Front National leading the polls just over two months away from France’s presidential election, some have already marked May in their calendars as the next political shock in Europe. Is the result a foregone conclusion and what does it all mean for the UK in any case? Polling Day France [...]
The Department for Transport (DfT) wants Google, Uber and co. on board to help run HS2 February 19, 2017 The government is considering plans for tech giants to be involved in running the new HS2 service and is encouraging the likes of Uber and Google to buy minority stakes in the franchise that will serve the train line. The plans, considering a range of innovative firms as possible investors, have been floated by the transport department in [...]
TP Icap told to go back to the drawing board by investors over executive pay plans February 19, 2017 TP Icap's investors have rebuffed an executive pay plan which could have lead to senior executives taking home tens of millions. The newly-merged broker's reward plans would have paid up to £85m in shares over a three-year period, although the scheme would have only started paying out once almost £400m in shareholder value had been made. Although [...]
What you need to know about travelling during this week’s Tube strikes: Travel advice for Central and Waterloo & City Line commuters February 19, 2017 Fresh strikes on London Underground are due to disrupt travellers this week with the Central and Waterloo & City lines expected to have little to no service. Here's what you need to know about- the industrial action so you can plan ahead. What time and day are the strikes taking place? From late on Tuesday [...]
Former BP Russia boss lined up for top nuclear decommissioning role February 19, 2017 David Peattie, the former boss at BP’s Russian operations, is the front runner to take over at the Nuclear Decommissioning Authority (NDA), according to reports in the Sunday Times. Tasked with managing Cumbria’s Sellafield estate, the NDA is a state-owned body that receives £3bn a year in public money, which amounts to 25 per cent [...]
Analysts banking on Lloyds and Barclays to have steamed ahead during 2016, as other UK lenders struggle February 19, 2017 Analysts are predicting Lloyds Banking Group and Barclays will race ahead of the pack when the UK's big banks report their earnings this week. Lloyds, which will report its 2016 full-year figures on Wednesday, is forecast a statutory pre-tax profit of £4.4bn, more than double the £1.6bn it reported in 2015, when its earning potential [...]
UK fashion industry showcases its wares at London fashion week February 19, 2017 Designers, buyers and supermodels have descended on the capital for its 65th fashion week. The trade fare is hosting over 5,000 guests and will showcase collections from 120 designers including Burberry, Mulberry and Donatella Versace's Versus line. Designers will be trying to entice buyers and drum up business across more than 51 catwalk shows. And [...]
Khan says Trump’s visit should be scrapped over “cruel and shameful” travel ban February 19, 2017 Prime Minister Theresa May should scrap plans for US President Donald Trump to visit the UK over his “cruel and shameful” policies, London mayor Sadiq Khan has said. Trump was offered a state visit to the UK just days after being elected, but the plan has proved controversial, with protests erupting over the President's attempts to ban [...]