Ban on new petrol and diesel car sales to be brought forward to 2030 November 14, 2020 Boris Johnson is set to announce that the ban on petrol and diesel vehicles will be brought forward to 2030. The announcement is expected as part of a landmark speech laying out the government’s 10 point plan for climate change. Back in February the ban on the sale of such vehicles was brought forward to [...]
Tata Steel UK future in doubt as firm begins break up of operations November 14, 2020 Tata Steel has announced plans to make its UK business “self-sustaining” while selling its Dutch operations. The Indian giant said that it was no longer prepared to sustain the loss-making operation and would instead begin to break up its European operations. Tata employs 7,000 people in Wales, including 4,000 at its plant in Port Talbot. [...]
Oil prices slip after week of gains as vaccine rally cools November 13, 2020 Global oil prices today pared some of their gains for the week as a vaccine-inspired rally ran out of steam. Prices shot up at the beginning of the week on the news that Pfizer’s coronavirus vaccine was 90 per cent effective, but began to slip back yesterday. Today global standard Brent crude fell a further [...]
Volkswagen to invest €73bn in digitalisation and electric cars November 13, 2020 Car giant Volkswagen will invest €73bn into developing hybrid and electric cars over the next five years, it was announced today. Investment in the new technologies, as well as into digitalisation, will now account for nearly half of the €150bn of spending the firm has scheduled. Almost half of the money – €35bn – will [...]
Exclusive: Building societies slash business lending by a third November 13, 2020 Building societies have slashed their business lending by a third in the five years, City A.M. can exclusively reveal. According to new figures from accountants BDO, the amount of money lent by the UK’s biggest building societies has dropped from £11.8bn in 2015/16 to just £7.9bn last year. The fall in lending comes at a [...]
Carillion ‘recklessly’ misled markets before collapse, says UK watchdog November 13, 2020 The Financial Conduct Authority (FCA) has today announced that it intends to take further action against failed outsourcer Carillion for “misleading” shareholders with false information. In a warning notice published today the watchdog said that a number of senior executives were “knowingly concerned” in numerous breaches of market rules, and had acted “recklessly”. These include [...]
Tui in talks with German government over new bailout November 13, 2020 Travel giant Tui is reportedly in talks with the German government over receiving a further €1.8bn (£1.6bn) bailout in order to survive the coronavirus pandemic. The Anglo-German firm has already received €3bn in state aid to stay afloat during the crisis, which has hammered the global travel industry. However, it has now warned that the [...]
Edinburgh Woollen Mill administrators hail ‘strong performance’ November 13, 2020 The firm managing the administration of Edinburgh Woollen Mill today hailed a “strong performance” for the first half of the year. FRP Advisory said that revenue had risen 14 per cent year-on-year to £35.4m, while earnings had increased seven per cent to £9.7m. It said that it had achieved the growth even though the number [...]
New Asda owning Issa brothers sell stake in petrol station giant EG Group November 13, 2020 New Asda owning Issa brothers sell stake in petrol station giant EG Group
London job market lagging behind rest of country November 13, 2020 London’s job market is still lagging behind the rest of the country in terms of fresh opportunities, new figures today suggested. In the week before the second national lockdown was introduced, there were 18.7 per cent fewer job listings in the capital than in the week before the first lockdown in March. That is despite [...]
