Talks continue over future of Vauxhall plant at Ellesmere Port February 25, 2021 Talks with the government over the future of Vauxhall’s plant at Ellesmere Port in Cheshire are still ongoing, parent company Stellantis said today. The company is reportedly considering building electric cars at the plant, but no agreement has yet been reached. The head of Stellantis’ Opel and Vauxhall unit Michael Lohscheller told Bloomberg: “At this [...]
Serco boss: Pandemic proves importance of private and public sector co-operation February 25, 2021 The coronavirus pandemic has shown how strong the government and private sector can be when they work together, the boss of Serco, which is running the NHS Test and Trace service, has said. Speaking to CityAM, Rupert Soames defended the much-maligned system, saying that after some initial challenges it was now a “world-beating” programme. He [...]
Bin firm Biffa snaps up surplus food collectors Company Shop for £80m February 25, 2021 Waste disposal firm Biffa today said that it has bought surplus food group Company Shop for £82.5m. Company Shop, which describes itself as the country’s biggest surplus food firm, collects waste items and then redistributes them to its member organisations. Surplus produce can include production overruns, trial products, or produce that has been incorrectly labelled [...]
Channel Tunnel operator Getlink sees summer bookings jump after profit tumbles February 25, 2021 Channel Tunnel operator Getlink this morning said that its earnings fell two-fifths last year as a result of travel restrictions caused by the pandemic. But chief executive Yann Leriche said that Boris Johnson’s recent announcement of an end to travel restrictions on 17 May had prompted a 200 per cent surge in bookings. The firm [...]
British Gas owner Centrica falls to £360m loss as warm weather and lower prices bite February 25, 2021 British Gas owner Centrica said today that it fell to a £362m statutory loss due to a combination of coronavirus, lower commodities prices, and a spell of warm weather. The loss is less than half the £783m hit the firm reported last year. It also said it would not pay out a divided for last [...]
Aston Martin careers to £320m loss as car sales fall a third February 25, 2021 Iconic sports car brand Aston Martin fell to a £322m operating loss in 2020, the firm said this morning, as coronavirus restrictions saw car sales fall a third. In line with this fall, total retail sales slipped 32 per cent, from 6,150 last year to 4,150 this year. Despite the fall in sales, however, shares [...]
Anglo American profit tumbles but metal prices keep earnings steady February 25, 2021 Mining giant Anglo American this morning said that profit slipped 40 per cent in 2020, falling from $3.5bn to $2.1bn, as the coronavirus dried up demand for commodities around the world. However, its earnings – Anglo American’s preferred metric – came in at $9.8bn, ahead of the $9.4bn predicted by analysts. That’s just short of [...]
British Airways owner IAG: What to expect from the airline group’s earnings February 24, 2021 At last, a crack of light. That was the response of most airlines to Boris Johnson’s suggestion that air travel could get going in earnest from 17 May after a full year of grounded planes and sweeping cuts to jobs and routes alike. Expect this future to be fully in focus on Friday, when airlines [...]
Easyjet set to raise up to €1.2bn from bond sale February 24, 2021 Easyjet is set to raise €1 – €1.2bn from a seven-year bond sale taking place today, according to a memo seen by Reuters. The issue comes within days of the UK laying out its roadmap for the return of international travel, which prompted a huge jump in ticket bookings for the carrier. According to the [...]
FTSE 100 creeps up as surging pound dents exporters February 24, 2021 The FTSE 100 crept back into the black today as the index’s exporters were hit by the pound rising to its highest levels since 2018. Having opened down 0.6 per cent at 6,599 points, London’s premier index was up 0.3 per cent at 6,643 points just after midday. The slight rise came as sterling neared [...]
