Eddie Stobart: Andrew Tinkler says Stobart Group supportive of his proposal to rescue struggling haulier November 17, 2019 Former Stobart Group chief executive Andrew Tinkler said the Stobart Group is supportive of his proposal to save struggling haulier Eddie Stobart, despite the bad blood between the pair. Tinkler told City A.M. that he was putting together a £50m package to save the business and said existing shareholders could raise up to £25m on [...]
General Election: Boris Johnson’s Conservative Party opens up 17-point poll lead November 17, 2019 The Conservative Party has opened up a 17-point lead over Labour, according to the latest poll from Yougov. The poll puts Boris Johnson’s Conservatives on 45 per cent, with Jeremy Corbyn’s Labour Party trailing on 28 per cent. The Tories’ 45 per cent of the vote marks the highest point in the polls for the [...]
Business leaders join forces to push competitiveness agenda for UK November 15, 2019 Business leaders from companies such as John Lewis, Lloyds Banking Group, Deloitte and BAE Systems will meet today to promote the importance of business competitiveness. A business group pushing the competitiveness agenda called Be the Business will today launch Business Leadership for a Better Decade campaign to try and demonstrate the importance of competitiveness to [...]
City reacts with shock to Labour’s plans to part-nationalise BT November 14, 2019 The City reacted with shock tonight to Labour’s plans to part-nationalise FTSE 100 giant BT and promise free full-fibre broadband for every UK household. Labour unveiled the new £20bn policy late last night and said it would pay for its plan by levying a tax on tech giants such as Amazon, Google and Facebook. Chief [...]
Interserve chief executive Debbie White set to step down next month November 14, 2019 The chief executive of outsourcer Interserve is reportedly stepping down at the end of the year, shortly after leading a restructuring that brought the company back from the brink. Debbie White, who has been chief executive at Interserve since 2017, is set to leave the company next month, Sky News reported. Read more: Outsourcer Interserve [...]
Average London rents jumped last month November 14, 2019 The average rent in London rose to £1,665 last month, according to a report released today. The average rent in the UK grew 2.7 per cent to £953 on the same time last year. Average rents in London grew 2.8 per cent to £1,665, according to the report from tenant referencing firm Homelet. Read more: [...]
Terra Firma on brink of £160m care home deal with Barchester Healthcare November 14, 2019 A portfolio of care homes that private equity boss Guy Hands secured after a fierce legal battle is on the cusp of being sold for £160m. The 24 sites which are owned by Hands’ Terra Firma Capital Partners are close to being sold to care home operator Barchester Healthcare, Sky News reported. The deal would [...]
Nike pulls clothes and shoes from Amazon amid digital push November 13, 2019 Nike is pulling its clothes and shoes from e-commerce site Amazon as part of a pivot to selling directly to customers. Nike announced late on Tuesday that it was ending a pilot scheme to sell its goods through Amazon which began in 2017. “As part of Nike’s focus on elevating consumer experiences through more direct, [...]
Wework losses ballooned to $1.3bn in quarter before failed float November 13, 2019 Wework losses reportedly more than doubled to $1.3bn (£1bn) in the third quarter ahead of its expected initial public offering (IPO). The figures contained in a presentation for Wework creditors today showed why the company was thrown into crisis when its expected $9bn IPO and connected debt financing deal collapsed in September. The debacle led [...]
FTSE 100 on track to meet target for women on boards November 13, 2019 The FTSE 100 is on track to meet a target of 33 per cent for women on boards by 2020, a government-backed report published today showed. However, a “step change” is still needed to boost the number of women in senior leadership roles at FTSE 350 companies, the Hampton-Alexander Review report said. Unless half of [...]