Jefferies boosts dividends on back of record second quarter performance June 29, 2021 Financial services firm Jefferies said that it had recorded record revenues for the second quarter, prompting the investment bank to jack up its dividend. The New York-headquartered firm said that its revenue had jumped 56 per cent compared to a year ago, rising to $1.6bn. It added that its pre-tax income hit $429m, up 148 [...]
Teneo boss steps down after drunken misconduct allegations June 29, 2021 The boss of PR firm Teneo has today resigned as chairman and chief executive after claims of drunken misconduct at a star-studded fundraising concert. Declan Kelly, who founded the comms firm back in 2011, today issued a statement confirming he was stepping down with immediate effect. He had already been stripped of his role on [...]
Jaguar Land Rover to stop Defender production due to chip shortfall June 29, 2021 Jaguar Land Rover (JLR) has been forced to pause production of its Defender 4×4 due to the ongoing global shortage of semi-conductor chips. The firm has been forced to slow down output at its factory at Nitra in Slovakia, where it makes the popular model, as a result of the shortfall,. It was scheduled to [...]
‘Sausage war’ truce imminent as grace period extension to be announced ‘soon’ June 29, 2021 A truce in the so-called “sausage war” between the UK and EU is imminent, with a three-month extension to the current grace period expected to be announced soon. The two sides have clashed in recent weeks over the EU’s upcoming ban of chilled meats, like sausages and minced beef, crossing from Great Britain to Northern [...]
Auto industry calls for battery gigafactory push ahead of Nissan announcement June 29, 2021 The UK auto industry has today called for the government to invest in a string of battery gigafactories or risk tens of thousands of job losses. The calls come amid reports that car giant Nissan will this week lay out plans to build such a plant in Sunderland, in what would be a huge vote [...]
US-UK travel corridor talks hit roadblocks over surge in cases – report June 28, 2021 The chance of the UK and US opening an air “travel corridor” by the end of the summer is growing increasingly unlikely due to the rise in Covid-19 cases in Britain. Citing officials involved in the talks, the FT reported that negotiations between the two nations, which had started last week, were now likely to [...]
IAG and Easyjet lead fall in travel shares as Spain and Portugal introduce quarantine for unvaccinated Brits June 28, 2021 Airline stocks including BA owner IAG, Easyjet, and Ryanair all tumbled today as more European countries imposed travel restrictions on UK holidaymakers. FTSE 100 IAG was down 5.8 per cent by the mid afternoon, while budget carrier Easyjet also dropped 5.0 per cent. Fellow blue-chip Rolls-Royce, which makes the engines used by most commercial jets, [...]
Carnival to sell $500m in shares as cruises restart June 28, 2021 Cruise giant Carnival today said that it would sell $500m (£359.6m) worth of shares as it seeks to raise yet more cash amid the coronavirus pandemic. Over the last year the firm has already raised $2.5bn in order to stay afloat while sailings were cancelled due to travel restrictions. As of last week, however, Carnival [...]
Mitie renews £365m deal to run Covid-19 testing facilities June 28, 2021 Outsourcer Mitie has today had its contract to run NHS coronavirus testing facilities extended by a year, in a deal that could be worth £1m a day. It will continue to provide cleaning, waste management and security services at 175 testing sites and 105 mobile testing units across England, Wales, and Scotland. The deal can [...]
New boss at Liberty Steel UK as GFG restructuring continues June 28, 2021 Sanjeev Gupta’s GFG Alliance has today replaced Liberty Steel UK’s boss as it continues to overhaul its embattled operations. In a restructuring update, the company said that Roy Chowdhury would take over from Jon Ferriman as chief executive. It also said it was exploring the possible sale of Liberty Steel’s UK engineering business. The moves [...]
