Ofwat orders water firms to pay £157.6m for missing performance targets October 8, 2024 Water companies will have to pay a £157.6m penalty after missing key targets on reducing pollution, leaks and supply interruptions while customer satisfaction continues to fall, Ofwat has said. Not one company achieved the regulator’s top category of “leading” while Anglian Water, Welsh Water and Southern Water fell into the lowest category of “lagging” while [...]
Labour MP defends Chancellor’s decision to rule out wealth tax October 5, 2024 One of the rising stars of the new intake of Labour MPs has defended Chancellor Rachel Reeves’ decision to rule out a wealth tax against the richest. Torsten Bell, a former Treasury official and chief executive of the economic think tank Resolution Foundation, said a wealth tax would not raise “significant revenues”. Reeves has previously [...]
Flowers laid at Ladbroke Grove rail disaster memorial to honour those killed October 5, 2024 Families bereaved by the Ladbroke Grove rail disaster have laid flowers at the memorial to honour those killed 25 years ago – each remembered as “precious and loved”. Thirty-one people died and more than 220 were injured when a rush-hour train collided almost head-on with a high-speed train around two miles from Paddington station, west [...]
Reeves promises ‘guardrails’ around extra borrowing in budget October 5, 2024 Chancellor Rachel Reeves has said she will introduce “guardrails” to ensure that extra borrowing for investment in her first budget is not excessive as she seeks to reassure investors about an expected rise in public debt. “It’s about making prudent, sensible investments in the long term and we need guardrails around that”, Reeves told the [...]
Wall Street claws back week’s losses thanks to strong jobs report October 5, 2024 US stocks rallied on Friday after a surprisingly strong report on the US job market raised optimism about the economy. The S&P 500 climbed 0.9 per cent and got close to its all-time high set on Monday. The Dow Jones Industrial Average rose 341 points, or 0.8 per cent, to set its own record, while [...]
Online retailer Shein to hold roadshows soon ahead of London IPO October 4, 2024 Shein is set to hold informal investor meetings in the coming weeks for its planned London initial public offering (IPO), three sources with knowledge of the matter told Reuters, pushing ahead with preparations as it awaits UK regulatory approval. The China-founded online retailer plans to hold informal roadshows mainly across Europe, one of the sources [...]
Square Mile and Me: Allwyn boss Andria Vidler on her career before the National Lottery October 3, 2024 We dig into the memory bank of the City’s great and good. Today, Andria Vidler, CEO of National Lottery operator Allwyn, takes us through her career.
Controversial Wimbledon expansion plans get green light September 27, 2024 Wimbledon’s controversial expansion plans have been given the green light by the Greater London Authority. The decision taken by Jules Pipe, London’s deputy mayor for planning, means the All England Club’s proposal to build 39 new courts, including an 8,000-seat show court, on the adjacent former Wimbledon Park Golf Club and nearly triple the size [...]
Telegraph attracts takeover interest amid latest auction deadline September 27, 2024 The bidding war to buy the Telegraph newspaper business is moving nearer to its conclusion amid the latest deadline for takeover offers. Potential suitors to buy the Telegraph Media Group have until the end of Friday to submit second-round offers. It is understood at least three parties, including both UK and international firms, are in [...]
Fortune publishes inaugural LGBTQ+ leaders list featuring six UK executives September 18, 2024 António Simões, boss at Legal & General, was the highest ranking business leader among UK executives, coming seventh on the overall list.
