Pearson CEO to depart as it sells $675m stake in Penguin Random House December 18, 2019 Pearson’s chief executive today announced that he plans to step down in 2020, triggering a search for a successor. John Fallon said he would retire from the role as the education publishing business sold its final stake in Penguin Random House today. Read more: Pearson bags Home Office contract for English language tests He will [...]
In a spin: Whirlpool recalls 500,000 washing machines over fire danger December 17, 2019 Half a million Whirlpool washing machines must be recalled from British homes over a fire risk, the company admitted today. A door locking system fault with Whirlpool’s Hotpoint and Indesit branded machines creates a fire risk as a result of overheating, the firm said. Read more: MPs blast Whirlpool over its safety attitude The affected [...]
UK unemployment rate falls close to 45-year low, but wage growth slows December 17, 2019 The UK’s unemployment rate fell back close to a 45-year low between August and October, according to official data today, but economists warned the new government must solve the “puzzle” of flagging wage growth. The unemployment rate fell to 3.8 per cent to register just 1.28m people who are unemployed, a fall of 93,000 or [...]
Sterling sinks as PM vows not to extend Brexit transition period December 17, 2019 Sterling sank in early trading today to hit the GBP/USD exchange rate as Boris Johnson revealed he wants to leave the EU completely with or without a deal by December 2020. The Prime Minister’s plan to bring his Brexit deal back to parliament with none of the concessions he made before winning his 80-seat majority [...]
Tube delays: Central, District and Circle Lines suffer rush hour misery December 17, 2019 Commuters were left to endure a torrid rush hour journey to work this morning after Tube delays hit three Underground lines. A signal failure at Aldgate and an earlier one at Hammersmith have brought the Circle Line to a halt in the anti-clockwise direction, as well as running with minor delays the other way. Read [...]
Trainline revenue surges to £198m on £2.9bn ticket sales December 17, 2019 Trainline enjoyed a 26 per cent jump in revenue in the first nine months of its current financial year, it revealed today. The ticket-booking app saw total group revenue hit £198m after international income soared 90 per cent year on year to £20m and UK consumer revenue leapt 31 per cent to £133m. Read more: [...]
Ofwat orders water companies to cut bills by £50 December 16, 2019 Water firms must slash the average bill by £50 by 2025, regulator Ofwat insisted today as it set out plans to improve the utility providers’ performance. The demand forms part of a massive £51bn investment strategy for water companies under Ofwat, including a goal to cut the amount of water lost to leaks by 16 [...]
Watch the weird moment John Bercow cries ‘Order!’ in Italian on talk show December 16, 2019 Former speaker John Bercow is apparently so famous for his interjections of “Order!” that he is now bellowing the word in foreign languages. The House of Commons’ ex-speaker, who left the role after 10 years in the run up to the General Election, has found new fame in a video of him shouting what has [...]
Eurozone PMI: Economy mired in worst spell since 2012 December 16, 2019 The Eurozone’s economy is stuck in its worst spell in six years, economists warned today, after it failed to gain momentum at the close of 2019. Output barely increased in December, registering a score of just 50.6 on IHS Markit’s Flash Eurozone purchasing managers’ index (PMI) Composite Output Index today. Anything below 50 represents a [...]
CMA clears $4.3bn Roche-Spark deal as US drags feet December 16, 2019 Swiss pharmaceuticals giant Roche today won UK regulatory approval for its $4.3bn merger with gene therapy firm Spark Therapeutics. The Competition and Markets Authority (CMA) unconditionally cleared the tie-up in the latest milestone in Roche’s $114.5 per share offer. Read more: Roche faces fresh delay in $4.3bn Spark merger The deal had faced intense scrutiny [...]
