No-deal Brexit notices: Eurostar trains could stop running after March 2019 October 12, 2018 Eurostar services could stop running between the UK and France, as well as other destinations, in the event of a no-deal Brexit, the government warned today. Train services from the UK to destinations like Paris, Brussels, Amsterdam, Marseille and Rotterdam would be under threat if the UK crashes out of the EU without a deal, [...]
Moneysupermarket boosts revenue despite falling insurance premiums October 12, 2018 Price comparison website Moneysupermarket has reported an increase in revenue in its latest trading update, despite falling insurance premiums. Insurance revenues grew by two per cent to 48.7m, while revenues in its money division jumped seven per cent to 21.8 per cent in the three months to the end of September. Read more: Insurance giant makes a [...]
Patisserie Valerie finance director arrested and released on bail as fraud probe launched October 12, 2018 Suspended Patisserie Valerie company finance director Chris Marsh has been arrested and released on bail, the company announced this morning, as the Serious Fraud Office (SFO) opened a criminal investigation into potential fraud at the company. Marsh was suspended on Wednesday after the high street cake shop revealed it had been notified of "significant and [...]
Asset management firm Man Group announces boosted inflows and opens Jersey holding company October 12, 2018 Man Group, the worlds largest listed asset management firm, has reported an increase in funds under management in a trading update today. The fund saw net inflows of $0.4bn (£0.3bn) in the three months to the end of 30 September, it announced today, as it also revealed its intention to open a new group holding company in Jersey. [...]
Tube delays: Severe delays hit Jubilee Line, Victoria Line and London Overground during rush hour October 12, 2018 Commuters were facing travel chaos this morning as two London Underground lines experienced severe delays due to fires. Severe delays hit the Victoria Line following a fire alert and faulty train at Brixton station. London buses, South Eastern and South Western rail services will accept Underground tickets. London Overground services are also suspended between Surrey Quays and [...]
Canada to impose new tariffs on steel imports October 11, 2018 Canada is set to impose new quotas and tariffs on imports of steel, the government has announced, in a bid to prevent a potential increase in imports. A tariff of 25 per cent will apply to seven steel products from 25 October, the Department of Finance said, in "cases where the level of imports from trading [...]
UK’s largest energy companies saw profits drop in 2017 October 11, 2018 The profit and market share of the UK's six largest energy suppliers dropped as more customers switched providers last year. Annual profits dropped by 10 per cent to £900m last year, the first fall since 2014, according to a report by energy industry regulator Ofgem, following an increase in competition. Read more: DEBATE: Does the energy market [...]
Karen Millen buys Coast after collapse but 300 jobs still at risk October 11, 2018 Fashion retailer Coast has collapsed into administration, putting an estimated 300 jobs at risk. Retail rival Karen Millen has bought the brand’s website and UK department store concessions, it announced this evening, however all 24 stand alone Coast outlets and European concessions will close. Read more: Retail sales growth slumps after bumper summe A total of [...]
Goldman Sachs to open first non-London UK office October 11, 2018 Goldman Sachs is set to open an office in Milton Keynes – the investment bank's first UK office outside of the capital – to serve as a customer centre for its new retail banking platform Marcus. The office, which will open in summer 2019, will initially house 150 staff with the option to extend employee numbers to [...]
UK banks risk being downgraded in no-deal Brexit situation October 11, 2018 UK banks could be downgraded in the event of a no-deal Brexit, according to ratings agency Standard & Poor. The agency's position is that the UK will successfully negotiate a deal that provides a period of continuity for financial institutions, however it said that if the UK crashes out of the European Union in March [...]
