Ryanair slashes profit guidance by €100m amid falling revenue January 18, 2019 Ryanair today issued a profit warning, saying it was reducing its full-year profit guidance by €100m (£88m) due to a drop in revenue from winter fares. The budget airline said it expects profit after tax of between €1bn and €1.1bn, down from a range of €1.1bn to €1.2bn. Read more: Ryanair profits slide as strikes, cheaper [...]
Theresa May tells Corbyn to drop ‘impossible’ demand of ruling out a no deal Brexit January 17, 2019 Theresa May and Jeremy Corbyn are at loggerheads after the Prime Minister refused to give in to Labour’s “impossible condition” of ruling out a no deal Brexit. In a letter to the Labour leader, May urged her opposite number to drop the demand – which is Corbyn’s precondition for any cross-party talks on breaking the [...]
London Assembly renews support for second referendum following Theresa May’s defeat January 17, 2019 The London Assembly has thrown its weight behind a second referendum following the Prime Minister's historic drubbing in the House of Commons over her Brexit deal. The motion, proposed by Labour assembly leader Len Duvall, restated the assembly's previous support for a second referendum and Sadiq Khan's call to withdraw Article 50, the mechanism that allows the UK to [...]
Philips to close only UK factory next year with potential loss of more than 400 jobs January 17, 2019 Philips has said it is to close its only UK factory next year, potentially cutting more than 400 jobs as part of a push to reduce its manufacturing sites worldwide. The Dutch company hopes to reduce the number of global sites from 50 to 30. Read more: Philips chief executive warns no-deal Brexit will hit British [...]
ITV shares tumble after bearish investor note casts doubt on ad revenues January 17, 2019 ITV led the FTSE 100 fallers today after Bank of America Merrill Lynch analysts slashed their target price for the broadcaster amid fears of declining advertising. Shares in ITV fell almost seven per cent after the bank changed its rating from buy to underperform and cut its target price from 210p to 110p. Read more: UK [...]
Hard Brexit risks ‘manageable’ says Irish central bank official January 17, 2019 The risks of a “cliff edge” Brexit to the stability of the Irish financial system are manageable and the majority of its “most significant” firms are already executing contingency plans, the Central Bank of Ireland deputy governor Ed Sibley said today. Sibley said: “I am satisfied that from a financial stability perspective the most material [...]
Brexit deal live: UK would vote to remain in EU in a second referendum January 17, 2019 Hello and welcome to our Brexit vote live blog. Stay tuned for reaction to Labour's no confidence vote yesterday, after Theresa May's Brexit deal slumped to a historic defeat in parliament on Tuesday night. Please manually refresh this page for the latest updates What you need to know: The Prime Minister’s deal was defeated by [...]
TfL working with Heathrow and London City airports to plan for no-deal Brexit January 17, 2019 Transport for London (TfL) is working with Heathrow and London City airports to mitigate the impacts of a no-deal Brexit, Sadiq Khan has said. London mayor Sadiq Khan said TfL was concerned that London could become clogged with heavy goods vehicles (HGVs) if the port of Tilbury is used more than Kent to carry traffic. Earlier this month [...]
Theresa May to put Brexit ‘Plan B’ before parliament on 29 January January 17, 2019 Parliament is set to vote on Theresa May’s Brexit “Plan B” on 29 January, it was announced today. House of Commons speaker Andrea Leadsom confirmed the date this morning, saying MPs will debate the new plan as May sets out her next steps towards Brexit. Read more: Hammond rules out no-deal Brexit in business conference [...]
Hammond tells business chiefs no deal could be ‘taken off the table’ on leaked conference call January 17, 2019 Chancellor Philip Hammond has told business chiefs a no deal Brexit could be “taken off the table” and Article 50 rescinded, according to a leaked conference call transcript. In a conversation with 11 business leaders after Theresa May’s deal was defeated in parliament on Tuesday night, Hammond said the result led to two issues. Firstly, [...]