RMT and Southern Rail talks break down February 14, 2017 Talks between Southern Rail and the Rail, Maritime and Transport (RMT) union have broken down. The two groups have been in disagreement about the role of the guard on Southern Rail services, and the dispute has led to days of strike action, over several months. Southern had come to an agreement with Aslef, the union [...]
Parkdean and NewDay deals helped European private equity stage late comeback in 2016 February 14, 2017 European private equity activity began to recover in the last quarter of 2016 after a difficult first nine months to the year, according to a report published today. Although the number of European private equity deals tracked by the Private Equity Barometer fell, the total value of the transactions came in at its highest level, €39.1bn, [...]
Nine out of 10 MPs say the UK’s air links are more important than ever before February 14, 2017 Almost nine out of 10 MPs say the UK's air connectivity is more important than ever before, and a large majority say the issue should be a top negotiating priority for the government after Brexit. A survey commissioned by the Airport Operators Association found that 86 per cent of MPs agreed on the increased significance of [...]
Protectionism is raising risks to companies’ global supply chains February 14, 2017 Protectionism and macroeconomic uncertainty have increased the risks to the world’s supply chains to the highest level in 24 years, according to an index tracking world trade. The index grew to a record high as Western Europe saw risks to the world economy’s globalised structure increase markedly, according to economists at Dun & Bradstreet. Companies [...]
Broken-hearted: sales drop at John Lewis on the week before Valentine’s Day February 14, 2017 Sales at retail bellweather John Lewis fell in the second week of February, signalling that the sector may be heading for another poor performance this month after retail sales dropped in January. Total sales at John Lewis for the week to 11 February were £73m, down two per cent on the same week last year. [...]
As the mining sector’s demand for tyres increases, Michelin’s earnings are set to get a boost February 14, 2017 Demand for outsize earthmover tyres stemming from the mining sector is set to boost France's Michelin this year. The French tyre maker said it made a 4.5 per cent gain in operating profit for 2016. The full-year operating margin lifted to 12.9 per cent from 12.2 per cent as operating income increased to €2.69bn (£2.28bn). Despite [...]
More than 200 MPs would back John Bercow “no confidence” motion says the MP trying to unseat the speaker February 14, 2017 More than 200 MPs support a motion of no confidence on House of Commons speaker John Bercow, according to the Tory MP trying to unseat him. Southend MP James Duddridge tabled a motion decrying the speaker last week, and has today told City A.M. he is confident of widespread support. A vote has yet to [...]
British Airways cabin crew announce four fresh days of strikes will go ahead from 22 February February 14, 2017 British Airways cabin crew will stage yet another batch of strikes in an ongoing pay dispute with the airline, Unite union announced today. Four strikes will be held from 22 February, after Unite warned more walkouts would occur should BA not settle the row over "poverty pay". There have been 11 days of strikes since the [...]
Behind the deal: Biggest IPO of 2017 so far is another triumph for boutique investment bank Zeus February 14, 2017 Actuarial and consulting firm Xafinity today announced plans for the biggest UK float of 2017 so far. Weighing in at £190m, the first premium main market listing of the year marks another triumph for boutique investment bank Zeus Capital, which acted as financial adviser, bookrunner and sole broker. Skiing, mountain biking and initial public offerings Read [...]
Federal Reserve’s Janet Yellen sets course for rate rises if economy continues to perform well February 14, 2017 The US dollar jumped in value as Federal Reserve chair Janet Yellen told Congress a delay in raising interest rates could be “unwise” if the US economy continues to perform well, despite uncertainty around the outlook. However, Yellen said it was “too early” to know what policies US President Donald Trump’s administration would follow or [...]