Brexit deal remains most likely outcome, says the Bank of England November 12, 2018 The Bank of England predicted today that a deal remains the most likely Brexit outcome, despite ongoing uncertainty around UK and EU negotiations. “I still think it’s the most likely outcome, but obviously over time, every day there are headlines – positive, negative – which will send the currency in particular one direction or the [...]
Big pharma: Takeda sets date for shareholder vote on $62bn Shire merger November 12, 2018 Takeda Pharmaceutical will ask shareholders to vote on buying biotechnology firm Shire for $62bn (£48bn) on 5 December, it revealed today. Takeda hopes to complete the purchase of the Dublin-based company on 8 January after holding the extraordinary general meeting (EGM) with shareholders and gaining approval from the European Commission. “The acquisition of Shire will [...]
Parliament will vote down May’s Brexit deal, predicts former minister November 12, 2018 Parliament will reject the Prime Minister’s Brexit deal in order to trigger a fresh referendum, a former minister said today. Justine Greening said there was no chance that May’s proposed Brexit deal could win a parliamentary vote, calling it the “worst of all worlds”. “It leaves us with less influence, less controls over the rules [...]
Jo Johnson quits as transport minister over Brexit, calling for second referendum November 9, 2018 Jo Johnson resigned from government this afternoon in protest at the Prime Minister’s Brexit strategy, backing calls for a second referendum. Calling Theresa May’s Brexit deal “a terrible mistake”, the minister of state for transport quit his post, claiming the UK economy would suffer from May’s Brexit agreement. “The choice being presented to the British [...]
Government will not allow Brexit deal to split Northern Ireland from UK, says minister November 9, 2018 The UK government would not sign a Brexit deal that signs Northern Ireland up to EU rules, a Cabinet minister insisted today. Culture minister Jeremy Wright’s comments come after Prime Minister Theresa May’s Westminster allies threatened to pull support for an agreement if Northern Ireland were separated from the UK via a customs border down [...]
Sir Martin Sorrell’s S4 Capital confirms deal talks as it chases US-based Mightyhive November 9, 2018 S4 Capital has confirmed deal talks are underway following rumours that it is making a play for a US advertising firm. Sir Martin Sorrell’s new venture told investors this morning that “it is in discussions with the owners of several digital marketing services businesses about a possible acquisition”. Media reports suggest that S4 is close [...]
Bombardier to cull 5,000 jobs and sell off $900m in assets November 8, 2018 Bombardier outlined plans to axe 5,000 jobs from its global operations and sell off $900m (£687m) in non-core assets today, sending its share price crashing down by 15 per cent. The Canadian plane and train manufacturer has launched a company-wide restructure focused on streamlining production and slashing costs as it flattens management structures. Around 5,000 jobs will [...]
KPMG will halt non-audit work on FTSE 350 clients in wake of Carillion November 8, 2018 KPMG is set to become the first of the so-called Big Four to cease all non-audit work for FTSE 350 clients in the wake of Carillion. The auditor will stop providing all but some essential non-audit services for the 90 FTSE 350 customers whose accounts it audits, it has told 625 UK partners in a [...]
Autotrader profits zoom ahead as advertising spend accelerates November 8, 2018 Autotrader stepped it up a gear in its half-year results today, with profits speeding ahead despite an industry-wide lull in car sales. The figures Revenue was up seven per cent year on year to £176.8m for the six months to the end of September, compared to £165m the same period the year before. Profit before [...]
The EU’s highest court sets date to decide whether the UK can reverse Brexit November 7, 2018 The EU’s highest court has set a date to decide whether or not Britain can reverse its Brexit decision. The European Court of Justice (ECJ) will review if it is possible for Britain to withdraw its decision to leave the EU in March 2019 on 27 November, according to Reuters. There is no indication of when [...]
