Aggreko results in line with last year with a good outlook going forward March 3, 2020 Shares in back-up power generator company Aggreko jumped more than seven per cent this afternoon after it said it’s on track to meet targets for 2020. Although group revenue fell eight per cent from £1.7bn in 2018 to £1.6bn in 2019, profit after tax increased from £125m to £129m for the 2019 financial year. Final [...]
Businesses urged to fight climate change and cut costs March 3, 2020 Businesses will be required to submit data on their carbon emissions, alongside their accounts, for the first time. The Streamlined Energy & Carbon Reporting requirements (SECR) will take affect for 12,000 companies whose financial year’s started on or before 1 April 2019 The government argues cutting the 30 per cent of annual greenhouse gas emissions [...]
Cordant Group receives key investment after struggling to raise cash March 2, 2020 Recruitment firm Cordant Group today received an outside investment necessary to safeguard 45,000 jobs. Twenty 20 Capital will become the majority shareholder in Cordant Group, which it hopes will enable to company to expand at a later date. As a result a new investment board and chairman will be appointed. The size of the investment [...]
Short-term rentals firm Hostmaker heads for administration March 2, 2020 Hostmaker, a London-based lettings company, has entered administration. The company’s staff are now facing potential redundancy, while Houst — formerly known as Airsorted — is believed to have bought Hostmaker’s client base, according to industry website Shorttermrentalz. The news followed a week after the Sunday Times reported Hostmaker was facing a potential insolvency battle. Sign [...]
Micro Focus shelves $1.4bn loan deal due to coronavirus March 2, 2020 One of the UK’s largest listed technology companies has delayed a $1.4bn debt sale due to market uncertainty caused by the coronavirus. Micro Focus had been working on plans for the $1.4bn loan — which had initially supported the acquisition of Hewlett-Packard’s enterprise software division — for two weeks. The decision follows in the wake [...]
UK government to allow new onshore wind farm subsidies March 2, 2020 Onshore wind farms will be eligible for subsidies for the first time since 2016 from next year. This was announced with details on the next stage of the Contracts for Differences scheme which launches next year. However, the government has stressed new projects in England will only go ahead with the consent of local communities. [...]
Possible lifeline for Sirius as shareholder Jupiter backs Anglo American deal March 2, 2020 Embattled Sirius Minerals could be saved as a key investor pledged to back the controversial Anglo American rescue deal a day before shareholders vote. Jupiter Fund Management, which has a 7.8 per cent stake in the troubled project, will tomorrow back the £405m deal, according to Sky News. Last month the boss of Sirius urging [...]
Metro Bank to revoke private jet access for new chair after year of turmoil March 1, 2020 Metro Bank will not allow its new leadership to take private jet flights, as it takes its reshuffle at the top as an opportunity to reduce costs. The previous arrangement for founder Vernon Hill to expense private jet flights to the company was “specific to him” and unlikely to be repeated, the Telegraph first reported. [...]
No sign of post-election bounce as private sector activity continues to flatline March 1, 2020 Activity in the private sector fell again in the quarter to February, new figures have shown. Research by the CBI published today demonstrated the 16th consecutive quarter of falling business volumes in the UK. However, it pointed to variation across different sectors and some cause for business optimism. The report, based on a survey of [...]
German car industry facing difficult times ahead March 1, 2020 The German car industry will face significant challenges over the coming months, according to a new report. The IFO Business Climate survey saw the demand index fall to minus 11.8 for February, down from minus 2.1 in January. The survey revealed a difficult picture across the industry with export expectations falling minus 15.4 in February [...]
