Shaanxi Ligeance Mineral Resources digs out £326m for Gardner Aerospace November 16, 2016 Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources (SLMR) announced today it is to buy aerospace parts manufacturer Gardner Aerospace. Derby-headquartered Gardner makes parts which are used by Airbus and is currently one of the high-flying businesses held by City veteran Jon Moulton's Better Capital. SLMR, along with its subsidiary Chengdu Aerospace Superalloy Technology (CAST), plans to pick [...]
Why new rules for your buy to let mortgage could be in the pipeline, as Bank of England handed new powers by Treasury November 16, 2016 The government is to hand the Bank of England’s Financial Policy Committee (FPC) new powers to better regulate the buy to let market. The new abilities, which are intended to help better protect the financial system from any wobbles in the buy to let market, will allow the FPC to direct the Prudential Regulation Authority and Financial [...]
Low interest rate challenges could be tackled by more than just central banks, says MPC committee member November 16, 2016 The solutions to problems often pinned on lower for longer interest rates may lie somewhere other than central banks, a key member of Monetary Policy Committee (MPC) said today. Speaking at the University of Manchester, Bank of England deputy governor for financial stability, Sir Jon Cunliffe, explained that issues could be addressed through, for example, putting policies [...]
Stop dithering over RBS share sale, MPs tell UKFI November 16, 2016 UK Financial Investments (UKFI) has today faced criticism that it is stalling on ditching the government's stake in Royal Bank of Scotland. In a hearing with the Treasury Committee, James Leigh-Pemberton, chairman for UKFI, and Oliver Holbourn, chief executive for UKFI, were grilled on why they were yet to make a call on what to do [...]
IGas wins approval to frack two mines in Nottinghamshire November 15, 2016 IGas Energy revealed today it has been granted permission to frack two wells in Nottinghamshire. Remarking that he was "pleased" Nottinghamshire County Council's Planning and Licensing Committee had chosen to grant his company the necessary permissions, Stephen Bowler, IGas chief executive, added: We are at a critical juncture in the future of our energy mix and supply, as we move [...]
Article 50 case outcome could delay Brexit, Supreme Court judge cautions November 15, 2016 Brexit could be delayed if government loses its appeal on the Article 50 case, the deputy president of the Supreme Court has cautioned. In a speech in Kuala Lumpur, which was delivered last week but the text not published until today, Lady Brenda Hale mused that, if the appeal did not swing in government's favour, it [...]
Boris Johnson signals UK will leave Customs Union post-Brexit November 15, 2016 Foreign secretary Boris Johnson has confirmed the UK will probably have to leave the Customs Union post-Brexit in an interview published today. Although much of the Brexit debate has focused on what access British businesses can hope to maintain to the Single Market, less attention has been given to whether the UK will continue to be a [...]
Big Four audit giant dragged into Brexit row November 15, 2016 Number 10 has today scrambled to distance itself from the details of a leaked memo which warned government was lagging behind on its Brexit plans. The leaked document, which was produced by professional services giant Deloitte and obtained by the Times, claimed government may need to take on as many as 30,000 additional staff members [...]
Reports: BAT’s $47bn offer for Reynolds could be up in smoke November 15, 2016 Reynolds American has stubbed out a $47bn (£37.8bn) takeover offer from British American Tobacco (BAT) because the price is too low, according to reports. BAT, which already holds a 42 per cent stake in Reynolds, sought to snap up the remaining 58 per cent in the Camel and Pall Mall cigarette producer last month. The tie-up would also open [...]
