FTSE 100 live: London markets to open higher as low valuations drive momentum; Eyes on US inflation data
Ocado shares soar on Japanese robot warehouse deal with Aeon November 29, 2019 Shares in online retailer Ocado jumped more than 11 per cent today after it announced a deal to help Japanese retailer Aeon launch a new online business. Ocado uses robot technology in its customer fulfilment centres (CFCs) to automate many processes. Read more: Ocado to build sixth warehouse as online grocer accelerates growth It said [...]
Thames Water trickles to a loss on financing costs November 29, 2019 Thames Water said today it had swung to a loss in the first-half of the year, blaming increased financing costs. The company announced a loss before tax of £23.2m for the six months ended 30 September, which it said was driven by a “revaluation of hedging instruments to current market prices”. Read more: Water giants [...]
Npower announces major restructuring which could cost 4,500 jobs November 29, 2019 Struggling energy firm Npower today announced a restructuring of its UK business that could cost thousands of jobs. Unions sources said the shake-up could lead to 4,500 UK job losses and the closure of a number of call centres, the Mirror reported. Yesterday, Npower reported that it had lost 261,000 customers in the third quarter, [...]
Court rejects appeal against Christmas Royal Mail strike ban November 28, 2019 The Court of Appeal today rejected a union appeal against an injunction preventing Royal Mail staff striking in the run up to Christmas. Royal Mail had secured an injunction earlier this month, ruling that the Communication Workers Union’s (CWU) postal ballot for strike action had been unlawful and ruling out any industrial action before a [...]
Barclays and Santander to cut chief executive pension perks November 28, 2019 Barclays, Santander and Lloyds Banking Group have all slashed pension allowances for their bosses after an outcry from MPs and investors. Barclays chief executive Jes Staley is set to receive a cash lump sum of £396,000 instead of a pension this year, which is equivalent to 34 per cent of his salary. From next year, [...]
Ex-Barclays banker says disputed Qatar agreement was ‘tremendous boost’ November 27, 2019 Former top Barclays banker Roger Jenkins told a fraud trial in London today that an agreement between the bank and Qatar characterised as a sham by prosecutors was actually a “tremendous boost”. Jenkins, 64, was in the witness box at the Old Bailey as he stood trial for fraud alongside former top Barclays executives Thomas [...]
Lloyds Banking Group boss to take pay cut after pension backlash November 27, 2019 Lloyds Banking Group is planning on cutting the pay of its boss by more than £220,000 following criticism of his pension package. Antonio Horta-Osorio was blasted by MPs in June for “greed” in relation to his £6.3m pay packet which included a pension contribution worth 46 per cent of his base salary – reduced to [...]
Pub chain Marston’s sinks to a loss November 27, 2019 Pub chain Marston’s said today it made a loss of £20m in the last year, compared to a profit of £54.3m in 2018. The brewer said revenue for the year to 28 September grew to £1.174bn, from £1.141bn in 2018. It said profit before tax on an underlying basis slipped to £101m from £104m, but [...]
British American Tobacco projects strong year despite US vaping slowdown November 27, 2019 British American Tobacco (BAT) said today it expected a strong 2019, despite being hit by a slowdown in the US vaping markets amid a health scare and regulatory crackdown. The cigarette-maker, which owns brands such as Lucky Strike, Camel and Rothmans, said it expected a “strong financial performance on an adjusted basis” in a pre-close [...]
Jeremy Corbyn forced to admit lower earners will be hit by Labour tax increases November 27, 2019 Labour leader Jeremy Corbyn was forced to admit his party’s spending plans would lead to tax increases for some lower earners during an interview with the BBC last night. In a bruising encounter with veteran interviewer Andrew Neil, Corbyn rowed back on his initial claim that only those earning over £80,000 would see a tax [...]