Competition watchdog investigates British Airways’ transatlantic flight agreement October 11, 2018 An investigation into British Airways’ revenue-sharing partnership on transatlantic flights is underway, a watchdog announced today. The decade-old Atlantic Joint Business Agreement sees BA, American Airlines, Iberia and Finnair split revenue on all passenger routes between Europe and the US. Read more: Moody's: BA and Easyjet among airlines 'most exposed to a no-deal Brexit' The European [...]
Severe delays hit commuters on District Line and Piccadilly Line due to a person on the track October 11, 2018 Severe delays have struck the District Line and Piccadilly Line this morning due to a person on the track. The District Line is suspended between Turnham Green and Ealing Broadway due to the incident, with tickets being accepted on local bus routes and South Western Railway. Severe delays also hit the Piccadilly Line, which is [...]
The Scotsman publisher Johnston Press puts itself up for sale as it tries to tackle huge £220m debt pile October 11, 2018 Struggling publisher Johnston Press’s share price dropped over seven per cent today on the news that it was putting itself up for sale. The newspaper group behind the ‘i’ newspaper, The Scotsman and the Yorkshire Post, amid 200 regional titles, has a towering pile of debt totalling £220m that it must pay off by 1 June [...]
Fevertree’s fizz falls flat with investors as shares dip again October 10, 2018 Fevertree’s share price is down more than nine per cent today as the tonic maker continues to tumble from its mid-September peak. The gin mixer brand saw its stock hit its highest level on 12 September, at 4,120p, but it has failed to climb further, instead seeing shares dip in the weeks before today’s losses. [...]
Patisserie Valerie owner faces HMRC winding up order as it warns investors of potential fraud October 10, 2018 Patisserie Valerie today warned investors of a winding up petition it faces over £1.14m in unpaid tax, after suspending shares this morning over potential fraud. HMRC said Patisserie Holding’s principal trading subsidiary, Stonebeach, owes it the money, and has set a hearing date of 31 October to seek a court order to liquidate the firm [...]
Car industry launches no-deal Brexit strategy to bolster supply chain October 10, 2018 The car industry has launched what it’s called a Brexit Readiness Programme to prepare vehicle manufacturers for the UK potentially falling out of the EU without a deal. The Society of Motor Manufacturers and Traders (SMMT) made the move following various members’ warnings about the impact of a no-deal Brexit on the health of the [...]
Patisserie Valerie suspends finance boss as it warns investors of potential fraud October 10, 2018 Patisserie Valerie has warned shareholders of potential fraud this morning, suspending its shares from trading. The cake maker has also suspended finance boss Chris Marsh as it investigates the potential black hole in its accounts. Read more: Patisserie Valerie shares face suspension over '£20m accounting hole' The irregularity could be as high as £20m, according [...]
Domino’s hopes for slice of luck with fourth finance chief in four years October 10, 2018 Domino’s has appointed its latest finance chief, David Bauernfeind, who becomes the fourth person in four years to hold the position. The pizza company had already appointed Bauernfeind as its interim chief financial officer after his predecessor, Rachel Osborne, left for struggling high street retailer Debenhams in June. Read more: Domino's franchisee boosted as Russia [...]
IMF downgrades world economic growth forecast October 9, 2018 The International Monetary Fund (IMF) has downgraded the world’s economic growth forecast while warning about risks created by the US and China’s trade war. The IMF cut its global growth prediction by 0.2 per cent to 3.7 per cent for 2018 and 2019. Read more: US and Canada sign eleventh-hour deal to replace Nafta It [...]
At least 40 Tory MPs ‘ready to block’ Theresa May’s Chequers Brexit plan October 9, 2018 Fellow Conservatives are prepared to vote down Theresa May’s Chequers plan if it forms the basis of a deal with the EU, a Tory MP claimed today. At least 40 Tories will rebel against an agreement shaped around the Prime Minister’s Chequers blueprint, if it leaves the UK “half in, half out” of the EU, [...]
