‘Financially illiterate’: Tim Martin has a scathing assessment of Glass Lewis advisory service November 3, 2019 Tim Martin, the boss of JD Wetherspoon pubs, has launched a broadside against shareholder adviser Glass Lewis, after it said investors should vote against the company’s pay policy. Glass Lewis, which is the second-biggest shareholder advisory service in the world, raised concerns about a “significant” increase in pay for the pub group’s finance chief for [...]
Exclusive: Pensions minister demands simpler workplace pension statements November 1, 2019 Long, confusing workplace pension statements could be a thing of the past if a government initiative, set to be unveiled today, comes to fruition. Pensions minister Guy Opperman wants pension providers to be clearer and more concise about savers’ pension prospects, and will today warn that he will legislate if he does not see change [...]
Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry October 31, 2019 Fiat Chrysler (FCA) and Peugeot owner PSA have agreed to go after a merger which would create a €180bn (£155bn) revenue automotive industry titan. PSA and FCA said they had decided to “work towards” a deal which would give shareholders in each company 50 per cent ownership of the new firm, creating the fourth-largest car [...]
Friends again: The Co-op Bank and Capita have renewed a £141m contract after falling out in 2016 October 31, 2019 Capita has been tasked with running the Co-operative Bank’s mortgage servicing operations for the next six years, in a contract win which indicates the once-strained relationship between the two is back on course. The £141m deal comes after a public spat in September 2016, in which the Co-op Bank claimed the London-listed firm had failed [...]
Hackers with links to North Korea have hit a critical nuclear power plant in India October 31, 2019 India has admitted its newest nuclear power plant has fallen victim to a cyber attack, illustrating how exposed one of the most valuable sectors to the emerging economy is to cyber criminals. The Kudankulam nuclear power plant was hacked using malware which is designed to extract data which has been linked to Lazarus Group, which [...]
Fewer people wanted to fly this summer, and it has hurt Air France-KLM’s profits October 31, 2019 The parent company of Air France has warned that its income from people buying plane tickets fell in the last quarter, as “geopolitical uncertainties” hit its business. Shares in Air France-KLM fell as much as 12 per cent this morning as the firm reported that net profit had halved during late-summer trading. They eventually recovered [...]
Spirit Aerosystems buys Bombardier’s 3,600-job Northern Ireland factory in $500m deal October 31, 2019 The 3,600-job Belfast manufacturing base of Canadian aerospace giant Bombardier has been snapped up by US rival Spirit Aerosystems, as part of a $500m deal. Bombardier, the province’s biggest employer, had sparked concerns that people could lose their jobs when it put the unit up for sale earlier this year, along with its operations in [...]
Car makers suffer ‘another bitterly disappointing month’ as Brexit uncertainty maintains grip October 31, 2019 The malaise that has gripped Britain’s car makers for the last year deepened in September, as the threat of a no-deal Brexit slammed the brakes on investment and caused production to stall. Car manufacturing, an industry which has felt the effects of Brexit uncertainty more sharply than most, fell 3.8 per cent last month to [...]
Gatwick airport trials speedy plane boarding method in bid to cut queues October 30, 2019 Long queues to board passenger flights could soon be a thing of the past, if new methods being trialled at Gatwick are successful. Britain’s second-biggest airport is working with Easyjet on plans to get passengers on planes more efficiently. Read more: After Gatwick, how do we prevent future drone chaos? Screens at boarding gate 101 [...]
Volkswagen profits soar in third quarter despite industry malaise October 30, 2019 Volkswagen has powered ahead of the gloom engulfing the global car industry, with rising summer profits driven by sport utility vehicle (SUV) sales. Despite this, the German giant warned that the global car market would “contract faster than previously anticipated in many regions of the world”. Read more: Volkswagen and Ford strengthen ties by teaming [...]
