National Grid warns watchdog spending curbs risk power cuts September 7, 2020 The operator of the UK’s electricity networks has today warned that Ofgem’s new price control regulations could put the country at risk of power blackouts. In response to the energy watchdog’s consultation on new controls on how much energy companies can invest and spend, National Grid slammed the proposals as “unacceptable”. Under the so-called draft [...]
Aviation support package ‘cannot come soon enough’, MPs warn September 7, 2020 A group of MPs has warned that the government’s aviation recovery plan “cannot come quick enough” as the stricken industry heads into the winter season weighed down with uncertainty over its future. This morning, the government revealed that it would unveil its plan to get the UK aviation industry back onto its feet over the [...]
Thomas Cook tipped for relaunch as online-only travel agent September 7, 2020 Iconic travel agent Thomas Cook could be relaunched as early as this month, a year after the firm went bust in dramatic circumstances. Sky News reported that Chinese conglomerate Fosun, which bought the company’s name and intellectual property assets for just £11m, is drawing up plans to reinvent the 178-year-old firm as an online travel [...]
UK working on reducing quarantine restrictions, says Matt Hancock September 7, 2020 Health secretary Matt Hancock today said that the government was working on ways to reduce the 14-day quarantine period for travellers from countries with heavy incidences of coronavirus, in a rare glimmer of light for the struggling travel industry. Speaking on LBC radio this morning, Hancock confirmed that ministers were looking at ways to test [...]
Amigo seeks to calm nerves as battle for future hots up September 7, 2020 Subprime loan firm Amigo has sought to pour cold water on rising interest in the potential return of founder James Benamor to the embattled business ahead of its upcoming general meeting. Over the weekend Benamor shared extracts of an irrevocable bid to buy 29 per cent of the company at 20p per share on social [...]
First Group shares jump as buyers circle US bus operations September 7, 2020 Shares in transport operator First Group popped this morning after reports that a number of buyers were circling its US operations, which were put up for sale in March. By the mid morning, shares in First Group, which runs bus and rail businesses in the UK and US, were up over 15 per cent at [...]
Primark sales surge towards £2bn in post-lockdown rebound September 7, 2020 Primark owner Associated British Foods (ABF) said today that sales at the high street chain had surged in the fourth quarter as shoppers rushed back to the high street after lockdown. Despite the three-month lockdown period, ABF said Primark was on course to make a profit of £350m this year, the top end of previous [...]
Homeless shelter investment firm plans £250m London float September 7, 2020 Homeless accommodation provider Home Reit has this morning announced that it will float on the London Stock Exchange market next month. The trust, which seeks to invest in accommodation for homeless people across the UK, is looking to raise £250m from the initial public offering. The first real estate trust to float in London since [...]
The City View: Rational markets and innovative central banks? An investor’s guide to the crisis, with Phil Smeaton September 7, 2020 In this episode Christian talks to Phil Smeaton, chief investment officer for Sanlam Private Wealth, about how markets have behaved in recent months and the forces that could shape them over the rest of this year. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS Phil discusses the fall in the value of the US dollar; the US [...]
Grant Shapps admits quarantine regime ‘confusing’ for travellers September 4, 2020 Transport secretary Grant Shapps has admitted that the differences to the UK’s quarantine policies across the four nations are creating “confusion” for travellers. Speaking to Sky News this morning, Shapps said that he could only be responsible for the restrictions in England, not Scotland, Wales or Northern Ireland. “I do realise it creates confusion for [...]
