New era as Avanti begins running West Coast Main Line services December 8, 2019 A new era began for West Coast Main Line train services this morning as Avanti completed its first journey from London Euston to Manchester. Avanti, the franchise managed by the partnership of Aberdee’s FirstGroup and Italy’s Trenitalia, has taken over from Virgin Trains, which has run the line since 1997. Read more: Virgin Trains’ manager [...]
Eddie Stobart secures £55m Dbay lifeline December 6, 2019 Eddie Stobart shareholders today backed a £55m rescue deal from a major investor to save the company’s future. Under the terms of the deal, Dbay will take control of the company and inject enough money to secure the company’s immediate future over Christmas. Dbay said: “We would like to thank shareholders for supporting our transaction [...]
New Octopus Renewables trust smashes target in £350m float December 6, 2019 Octopus Renewables’ new infrastructure trust smashed investor expectations this morning, successfully raising £100m more than its original target of £250m. The £350m launch makes the launch the second biggest initial public offering for an investment company this year. Read more: Octopus launches new renewables trust The net proceeds of the opening issue after costs will [...]
Hargreaves Lansdown’s pro-Brexit founder gives £1m to the Conservatives December 6, 2019 The billionaire founder of financial services firm Hargreaves Lansdown has donated £1m to the Conservative Party ahead of next week’s election. Peter Hargreaves, who helped finance the Vote Leave campaign in 2016, said that he was concerned that Brexit would not happen and the UK would be left in the EU. Read more: General election: [...]
Housebuilder Berkeley sees profit slump nearly a third in first half December 6, 2019 UK housebuilder Berkeley Group saw its profit for the first half of 2019 fall over 30 per cent as Brexit-based uncertainty continued to hit the housing market. Read more: Berkeley Homes founder Tony Pidgley backs reforms to end land hoarding The figures Profit at the company fell from £401.2m in 2018 to £276.7m this year, [...]
Primark set to drive another year of growth for ABF December 6, 2019 Associated British Foods (ABF), the British multinational which owns Primark, reiterated its outlook for the new financial year ahead of this morning’s AGM. The new financial year will see Primark expand its selling space, with the most new stores being added in France and Spain. Read more: Primark bounce helps offset sugar slump at ABF [...]
Saudi Aramco IPO to be largest in history at $25.6bn December 5, 2019 Saudi Aramco is set to raise a record $25.6bn (£19.5bn) in the largest initial public offering (IPO) in history, as it was reported that the oil giant would price its shares at 32 riyals (£6.50) per share, the top end of its range. The sale price will see Aramco knock Chinese e-commerce giant Alibaba off [...]
Brexit Party now odds-on for total defeat at General Election December 5, 2019 Bookmakers have said that the Brexit Party is odds-on to suffer total annihilation when the country goes to the polls next week, after Nigel Farage’s party was hit by a string of resignations. Betfair said odds of total defeat – not winning a single seat – had been set at 2/7. Read more: General election: [...]
Opec and allies expected to deepen oil production cuts December 5, 2019 Oil producer group Opec has begun its two-day meeting in Vienna, with expectations that the cartel and its allies will deepen oil supply cuts next year. Opec+, a wider grouping that involves countries such as Russia, has curbed production by 1.2m barrels per day since 2017 in a bid to counter the rise of the [...]
Thai cave rescuer brands Elon Musk’s ‘pedo guy’ tweet a life sentence December 5, 2019 Vernon Unsworth, the diver seeking damages from Elon Musk, has described the effect of the billionaire’s “pedo guy” tweet as “a life sentence without parole.” Speaking in court in Los Angeles, Unsworth laid out in detail the effect he believes the comment has had on his life. Read more: Elon Musk defamation trial: Tesla founder [...]
