Car dealer Pendragon returns to profit after first half loss September 29, 2020 Car dealer Pendragon said that trading had shown a “significant improvement” in July and August after the company posted a smaller loss for the first half of the year. The London-listed firm said that though the outlook for the rest of the year was uncertain, it was confident that it was “well-positioned” in the long [...]
Octopus wraps tentacles around US with Evolve Energy purchase September 29, 2020 Challenger energy brand Octopus has today continued its international expansion with its first foray into the massive US market. The firm, which has grown rapidly since launching four years ago and now boasts 1.7m accounts in the UK, has bought American supplier Evolve Energy in a $5m (£3.9m) deal. The acquisition is the first step [...]
Exclusive: MPs slam ‘inconsistency and incompetence’ as SMEs struggle to get bounce back loans September 28, 2020 Banks have been told to ensure that no small businesses are “locked out” of government-backed coronavirus loans, after firms were left unable to access the loans despite being eligible for funding. MPs said lenders accredited under the scheme should re-open applications for bounce back loans (BBLs), designed to help small companies weather the pandemic. Barclays [...]
Sadiq Khan warns of return to ‘bad old days’ without new TfL bailout September 28, 2020 Sadiq Khan has warned that Transport for London (TfL) will return to the “bad old days” of crumbling infrastructure and unreliable services if the government does not provide it with a second bailout. City Hall officials are currently in negotiations with government over a new financial support package for the transport operator, which has had [...]
Norwegian Air in talks over potential nationalisation September 28, 2020 Norway’s government is considering taking a stake in Norwegian Air in a step that would see the embattled carrier temporarily nationalised. The airline’s bosses have been meeting with government officials over the last week, the Telegraph first reported. The meetings come after Norwegian’s chief executive said that the budget flier would need an additional injection [...]
Uber wins bid to regain London operating licence September 28, 2020 Uber has won its legal bid to regain its licence to operate in London after a long-running court battle. Deputy senior district judge Tan Ikram said that despite its previous failings, the firm was now “fit and proper” to hold a licence. Ikram decided to give the firm a licence to operate for 18 months, [...]
Diageo shares pop as Guinness maker hails improved trading September 28, 2020 World’s largest spirit maker Diageo said that it had made a “good start” to the new financial year, driven by its US business, which is performing ahead of expectations. Shares in the FTSE 100 drinks maker rose 6.1 per cent as markets opened this morning. In an update before the firm’s AGM, chief executive Ivan [...]
Car production plunges as surge in cases slams breaks on sector recovery September 25, 2020 Car production plunged again in August, falling 44.6 per cent year on year as factory output stalled amid ongoing disruption caused by the coronavirus crisis. Just 51,039 models were built last month, down from 85,000 in July, according to figures from the Society of Motor Manufacturers and Traders (SMMT). Weaker demand for British-built cars in [...]
Boris Johnson: UK can be ‘launchpad’ for green industrial revolution September 24, 2020 Boris Johnson has said that the UK will lead the world in the world in the transition to a net zero economy, saying that climate action cannot be “another victim of coronavirus”. Speaking to a United Nations roundtable on climate change this afternoon, the PM said that the UK will serve “as a launch pad for [...]
Government eases pressure on small businesses with further loans support September 24, 2020 The government today rolled out a much needed lifeline for small businesses struggling to stay afloat during the coronavirus pandemic by loosening the terms under which they have to pay back emergency loans. Under the new scheme, dubbed “pay as you grow” by chancellor Rishi Sunak, all businesses who have borrowed money through the Bounce [...]
