Listed butcher Crawshaw crashes into administration with 600 jobs at risk October 31, 2018 Butchers chain Crashaw suspended its shares this morning after it announced it was calling in the administrators. The chain, which has 50 shops across the midlands and north of England, employs more than 600 people. In a statement it said: “The company does not have sufficient cash resources to effect the required restructuring of the [...]
William Hill makes £242m offer for Swedish gaming company in Brexit hub move October 31, 2018 Bookmaker William Hill has today announced a recommended cash offer of £242m for Swedish gaming company Mr Green & Co as it prepares for Brexit. William Hill’s shares jumped nearly six per cent following the announcement while shares in Mr Green soared nearly 48 per cent to 68.5 Swedish krona, just short the offer price [...]
European Commission to probe Tata Steel and Thyssenkrupp tie-up October 30, 2018 The European Commission said today it had opened a deeper investigation into Tata Steel’s planned joint venture with Thyssenkrupp over competition concerns. The so-called phase II investigation was widely anticipated and follows a similar probe into ArcelorMittal’s takeover of Italian firm Ilva, which was only cleared after the group agreed to sell assets. The deal [...]
Asian legal giant King & Wood Mallesons positioning itself for post-Brexit trade with China as it rebuilds in London October 30, 2018 Asian legal giant King & Wood Mallesons (KWM) is betting on post-Brexit trade with China and Australia as it rebuilds in London following the collapse of its European arm in January 2017. The firm’s London managing partner Darren Roiser said: “Given the nature of our client base and the fact we want to be building [...]
Financial Conduct Authority hits Liberty Mutual Insurance with £5m fine for mobile phone insurance failings October 30, 2018 The Financial Conduct Authority has today fined Liberty Mutual Insurance Europe £5.28m for failures in its mobile phone insurance claims and complaints handling process. Liberty entered into a relationship in the UK with a third party to enable them to provide mobile phone insurance to retail customers. The FCA found that between 2010 and 2015 customers [...]
UK company insolvencies jumped nearly 20 per cent in the last quarter October 30, 2018 Company insolvencies leapt 19.3 per cent in the third quarter compared to the same quarter last year. Data from the Insolvency Service shows company insolvencies increased 8.9 per cent in the quarter to the end of September compared to the previous quarter. A total of 4,308 companies entered insolvency in the third quarter, with 3,083 (71.6 per [...]
Personal allowance increase to arrive one year early as higher rate tax threshold change to occur in 2019 October 29, 2018 The personal allowance is to be raised to £12,500 and the higher rate tax threshold is to be lifted to £50,000 in April 2019, the chancellor Philip Hammond announced today. The Conservative Party promised to lift the personal allowance and higher rate tax threshold in 2020 but the changes are now being introduced a year [...]
Investment allowance lifted from £200,000 to £1m to boost business October 29, 2018 The investment allowance will be increased from £200,000 to £1m to stimulate business investment, the chancellor Philip Hammond announced today in his budget speech. "I am increasing the annual investment allowance, from £200,000 to £1m for two years," Hammond said. The investment allowance lets a business deduct qualifying capital expenditure from its taxable profits to [...]
Military to get £1bn more over next two years to fund cyber and nuclear capability October 29, 2018 The UK’s military is to receive £1bn more over the next two years to help plug funding shortfalls, the chancellor Philip Hammond said in his budget speech today. Hammond told the House of Commons that the money would be used to boost the UK’s cyber capabilities, its anti-submarine warfare capacity and its submarine-borne nuclear deterrent. [...]
Listed challenger law firm Gordon Dadds swallows 150-year-old City firm Ince & Co October 29, 2018 Gordon Dadds is set to become the largest listed law firm in England after today agreeing a deal to buy venerable City shipping firm Ince & Co for £34m. City A.M. revealed the firms were in talks last month following which shares in Gordon Dadds were suspend. Gordon Dadds, which advised The Telegraph in the Philip Green [...]
