G4S rejects clone Gardaworld bid as takeover pursuit goes on September 30, 2020 G4S has rejected another takeover bid from Gardaworld, once again saying that the £3bn offered “significantly undervalues” the company. This morning, the Canadian firm submitted a fourth bid for the outsourcer at an offer price of 190p per share, the same price that was tabled at the end of August. In a statement, G4S chairman [...]
Thameslink route in line for return to Tube map September 30, 2020 The Thameslink route could soon appear again on the Tube map, London Mayor Sadiq Khan has said, after a lengthy absence. In a written response to a question from Labour London Assembly member Navin Shah earlier this month, Khan said that Transport for London (TfL) was considering including the rail line on a new map [...]
Car industry at risk of tariffs even if Brexit deal agreed September 30, 2020 The UK car industry may be hit by tariffs even if a free trade deal is agreed with the EU, the BBC reported today, due to issues over the provenance of certain car parts. Turkish and Japanese car parts used in cars made in this country will not be classed as British, meaning that some [...]
SSE remains on track for £250m coronavirus hit September 30, 2020 Energy giant SSE today confirmed that it was on course for a £120m to £130m hit for the first six months of the year due to the impact of the coronavirus pandemic. Back in July, when it unveiled its full year results, the firm warned that the pandemic, which has caused power demand to drop, [...]
Shell to cut close to 9,000 jobs in transition plan September 30, 2020 Shell is cutting 9,000 jobs as it shifts away from oil production
Rebel water companies get partial support in fight over price cuts September 29, 2020 Four water companies have today won some critical support in their fight against proposals that would force them to slash household bills. As a result of the provisional ruling from the UK’s competition watchdog, Anglian, Bristol, Northumbrian and Yorkshire will be able to spend an additional £214m in investment into the UK’s creaking water infrastructure. [...]
BT taps Nokia to replace Huawei in 5G networks September 29, 2020 BT has chosen Nokia to supply its 5G radio equipment in a deal that will make the Finnish firm the telecoms giant’s largest infrastructure partner. The deal, which marks a major win for new Nokia boss Pekka Lundmark, comes just months after the UK said it would ban Chinese firm Huawei from its 5G networks. [...]
Amigo shareholders narrowly reject founder’s comeback bid September 29, 2020 Shareholders at embattled subprime loans firm Amigo have narrowly voted down a bid to restore founder James Benamor to the company as director. At today’s general meeting, 57.2 per cent of shareholders voted against a resolution that would have reappointed Benamor, despite the board unanimously recommending the proposal be rejected. Writing on Twitter after the [...]
Menzies Aviation dives to loss as coronavirus hammers air traffic September 29, 2020 Baggage handlers Menzies Aviation swung to a £39m loss in the first half of the year as the coronavirus pandemic hammered the aviation industry. Chairman Philipp Joeinig warned that the firm was not yet “out of the woods”, with the disease continuing to squeeze global travel demand. The figures Having posted a £17.9m profit in [...]
Cairn Energy plunges to $324m loss after hefty one-off charge September 29, 2020 Oil explorer Cairn Energy today booked a $324m (£251.8m) loss for the first half after it was hit by a hefty impairment charge related to its assets in Senegal. However, the FTSE 250 firm said that it had safely managed the coronavirus crisis and was well positioned to generate future growth. The figures In a [...]
