Travel alert: London Overground hit by severe delays October 16, 2018 Rail disruptions have hit London Overground commuters this morning. Severe delays are affecting routes between Clapham Junction and Stratford and Richmond and Stratford. Read more: Earl's Court Station evacuated as person on track airlifted to safety Transport for London (TfL) said tickets will be accepted on the Tube and bus services, though a good service [...]
British American Tobacco warns of earnings hit thanks to currency headwinds October 16, 2018 Full year earnings growth at British American Tobacco (BAT) is set to fall seven per cent due to currency headwinds, the cigarette company said in a trading update today. However, the FTSE 100 firm said its next generation products division, including vaping and heated tobacco products, will grow by double digits to reach £900m in [...]
Convatec shares plummet 36 per cent as firm issues profit warning and CEO leaves October 15, 2018 Convatec shares plummeted more than 36 per cent this morning on news of a profit warning and the chief executive’s departure. The medical equipment manufacturer slashed its growth forecast for the year, and cut its underlying earnings expectations too in a trading update today. Read more: Last Week in the City: Amazon buys a pharmacy [...]
Stand up to EU ‘bullies’, Boris Johnson tells Prime Minister after Brexit negotiations stall October 15, 2018 Boris Johnson today called on the Prime Minister to push back against the EU “bullies” following the collapse of Brexit talks between the UK and the bloc. The former foreign secretary claimed that negotiations are in the “moment of crisis” and warned that Theresa May must “stand up to bullies” as he applies pressure to [...]
High street horror: Supercuts owner Regis UK asks landlords to slash rent in CVA proposal October 12, 2018 Hairdressing chain Regis UK is teetering on the verge of administration, it told landlords this week, as it urged them to slash rents for its Supercuts and Regis brands. If landlords don’t approve its plans the firm will likely fall into administration, it said. Regis has set out a company voluntary arrangement (CVA) asking for rent [...]
RBS shares jump as it prepares to pay shareholders its first dividend since the financial crisis October 12, 2018 Royal Bank of Scotland (RBS) is set to pay its first dividend since the financial crisis, it said today. The dividend of 2p per share will be its first since 2008, when it nearly went bankrupt, forcing the government to buy up its stock. Read more: RBS introduces 1.5 per cent savings rate days after [...]
Blackrock wins £30bn investment contract from Scottish Widows as owner Lloyds walks away from Standard Life Aberdeen October 12, 2018 Blackrock today won a £30bn investment contract in Lloyds Banking Group-owned Scottish Widows. The asset manager will invest the pension company’s funds in index strategies while also seeking to establish a strategic partnership to collaborate in risk management, alternative asset classes and innovative investment technology, Lloyds said. The money forms part of a £110bn pot [...]
Hammond predicts economic boost from ‘Brexit deal dividend’ October 12, 2018 Chancellor Philip Hammond said today that securing a Brexit agreement with the EU will lift the economy. Speaking in the run up to the Budget later this month, Hammond told the BBC that there has been a “measurable change of pace” in the negotiations between the UK and the EU, adding that the UK could [...]
Mike Ashley snaps up freehold to House of Fraser’s historic Glasgow store for £95m October 12, 2018 House of Fraser today paid £95m for the freehold to its iconic Glasgow building, promising to turn it into the “Harrods of the north”. Owner Sports Direct bought the Frasers building from Glasgow City Council, promising to turn it into a destination for luxury shopping, with brands like Hermes, Christian Louboutin, Prada and Gucci already [...]
Earl’s Court incident: Person on track airlifted to safety as station evacuated October 11, 2018 A person appears to have been airlifted to safety after an incident at Earl’s Court Station this morning, with thousands of commuters evacuated from the station as it was temporarily closed. British Transport Police (BTP) reportedly said a person was struck by a train at the station, but it is not clear whether they were [...]
