US National Security Advisor warns UK over using Huawei in 5G networks December 24, 2019 Robert O’Brien, the US National Security Advisor, has warned the UK over using Huawei for its 5G networks, saying that using the Chinese firm’s technology would put the UK’s intelligence services at risk. In an interview with the Financial Times, O’Brien said: “They are just going to steal wholesale state secrets, whether they are the [...]
Christmas travel disruption: everything you need to know December 21, 2019 It’s Christmas! Which means, among happier things, torturous travel planning as city-dwellers escape to the country for a few well-earned days off. But fear not – we at CityAM have put together this handy guide to make your holiday travel as pain-free as possible. Here’s a list of planned disruptions, reduced services and engineering works [...]
Bank of England holds interest rate at 0.75 per cent December 19, 2019 The Bank of England has decided to hold interest rates at 0.75 per cent in its last meeting of 2019 as it warned there was little chance of significant economic growth this quarter. The Bank’s Monetary Policy Committee (MPC) voted 7-2 in favour of maintaining the rate, as it did at its previous meeting in [...]
Endeavour hits back at Centamin over stalling claims December 19, 2019 Canadian miner Endeavour has hit back at takeover target Centamin over claims that it was stalling the sharing of information crucial to its proposed all-share merger. In a statement, Endeavour said that “the nature of the interaction from Centamin continues to suggest that it is unwilling to explore meaningfully the potential benefits of a merger.” [...]
Rolls-Royce unveils electric plane for world record attempt December 19, 2019 Rolls-Royce have unveiled the plane it hopes will break the world record for the fastest all-electric aircraft. The plane, which was revealed at Gloucestershire Airport today, is expected to make its record attempt early next year. Read more: World’s first fully electric commercial flight takes off in Canada The current record speed stands at 210 [...]
British Steel buyer set for £120m government support package December 19, 2019 The Chinese takeover of failed manufacturer British Steel has been bolstered by reports the government is in the process of finalising a £120m package to help protect jobs in the area. Business secretary Andrea Leadsom and minister Nadhim Zahawi met executives from Jingye Group on Wednesday to discuss completing the purchase. Read more: British Steel [...]
British firms in the running for Petrobras oil fields December 19, 2019 British firms Trident Energy and Premier Oil, along with Anglo-French producer Perenco, are rumoured to be weighing up the purchase of Petrobras’ Brazilian oil fields. Sources told Reuters that the firms were in preliminary deliberations concerning a cluster of mature fields in Brazil’s Campos basin. Read more: Petrobras offloads gas pipeline to Engie as firm [...]
E.on and Npower quit industry body Energy UK over membership cost December 18, 2019 Big six energy suppliers E.on and Npower have quit their membership of trade association Energy UK, it was confirmed today. The companies said that the decision was taken because they could no longer afford the membership fees. Read more: Npower announces major restructuring which could cost 4500 jobs The decision comes after Npower, which was [...]
Vauxhall union seeks assurances over $50bn PSA-Fiat mega-merger December 18, 2019 The UK’s largest union is seeking an urgent meeting on the future of Vauxhall after the car company’s owner PSA agreed to merge with Fiat Chrysler. The deal, which is worth $50bn, will see the as yet-unbranded new firm become the world’s fourth largest car manufacturer. Read more: Fiat Chrysler and PSA agree $50bn mega-merger [...]
Centamin says Endeavour is stalling in mining merger talks December 18, 2019 Canadian mining corporation Endeavour is refusing to share vital information regarding its value with takeover target Centamin unless it is given an extension to a deadline for making an offer. A statement from London-listed Centamin said that despite an agreement to exchange due diligence information, “Endeavour has now indicated that it will not provide the [...]
