Business groups call on Theresa May to use Article 50 extension to avoid no-deal Brexit March 22, 2019 Business groups have called for Prime Minister Theresa May to use to the extension of Article 50 agreed last night to avoid a no-deal Brexit. EU leaders last night agreed to push the Brexit deadline back to 12 April from the previous date of 29 March. Read more: Goldman Sachs says no-deal Brexit has become [...]
Mike Ashley makes fresh £100m bid to become Debenhams CEO by buying Magasin Du Nord March 22, 2019 Mike Ashley has made another attempt to install himself as Debenhams chief executive, with Sports Direct making a £100m offer for the department store chain's Danish business. In a statement Sports Direct said it would purchase the business, which was put up for sale last year, for £100m, "in order to assist Debenhams with its short term liquidity requirements". [...]
Debenhams share price crashes as it asks shareholders to risk equity on £200m loan March 22, 2019 Debenhams’ shares tanked this morning as it asked investors to sign off a £200m funding lifeline that could lead to shareholders’ equity being wiped out. Read more: Debenhams on the verge of sealing £200m funding from lenders The £200m funding would prevent the embattled department store chain from falling into the hands of billionaire Mike [...]
Debenhams on the verge of sealing £200m funding from lenders March 22, 2019 Debenhams is close to receiving a £200m lifeline from lenders that would prevent the department store falling into the hands of largest shareholder Mike Ashley. A deal finalising its borrowing facilities, which are larger than expected, could be announced as soon as today, according to Sky News. Read more: Levi shares soar as jeans retailer makes stock market [...]
Midnight crisis: EU leaders offer two new Brexit delay deadlines March 22, 2019 European leaders debated late into last night in a bid to avert a no-deal Brexit on 29 March, with negotiators agreeing to give Theresa May one last shot at getting her deal through parliament. Read more: Editor’s Notes: A dose of rational optimism blew away the fog of Brexit The Prime Minister travelled to Brussels [...]
Credit Suisse boss receives 30 per cent pay rise despite falling share price March 22, 2019 The chief executive of Credit Suisse Tidjane Thiam has received a pay boost of 30 per cent to 12.65m Swiss francs (£9.7m), the group’s annual report showed today. The Swiss bank said the pay rise was “designed to acknowledge the strong performance of Mr Thiam over the course of his tenure to date and the successful [...]
TfL awards controversial £1bn ‘sale and leaseback’ Crossrail fleet deal to Natwest-backed group March 22, 2019 Transport for London (TfL) has awarded a controversial £1bn "sale and leaseback" deal for a fleet of Crossrail trains to a rail company backed by Natwest and Japan's second largest bank. 345 Rail Leasing, which was set up in January this year and comprises Equitix Investment Management, Sumitomo Mitsui Banking Corporation and Natwest, will own the [...]
EU agrees to delay Brexit until 22 May if MPs back Theresa May’s deal March 21, 2019 The EU has said it will agree to a short delay to Brexit only if MPs back Theresa May's withdrawal deal next week. A leaked EU document read: "The European Council commits to agreeing to an extension until 22 May 2019, provided the WA is approved by the HoC next week. Given that The UK does [...]
Investor confidence soars to 10-month high despite Brexit uncertainty March 21, 2019 Investor confidence hit a ten-month high in March despite ongoing uncertainty related to Brexit. The Hargreaves Lansdown Investor Confidence Index reached 80 points this month, recovering from a record low of 52 points in December, indicating that the UK’s withdrawal from the European Union is no longer tainting investor sentiment to the same extent. Read [...]
After blaming MPs for Brexit delay, Theresa May seeks Article 50 extension in Brussels March 21, 2019 | City Talk If Brexit were a Netflix original series it would be considered one of the greatest dramas ever produced. The enormous cast of characters, the sprawling subplots, the infighting, the defections, the backstabbing – next to it, Game of Thrones would seem like your average kitchen sink drama. Even as Brexit supposedly reaches its finale on [...]