Saracens docked 35 points and fined £5m for breaching salary cap November 5, 2019 Premiership and European rugby champions Saracens have been docked 35 points for breaching Premiership Rugby’s salary cap. The English club must also pay a £5.4m fine after a probe into investment partnerships between its chairman, renowned City bigwig Nigel Wray, and a number of senior players. Read more: These were the six best players at [...]
Up in smoke: Imperial Brands profit shrinks as regulators knock vaping November 5, 2019 Imperial Brands blamed “tough trading” in its vaping division after full-year profits slipped and shareholders saw earnings per share fall by a quarter. Read more: BAT to axe 2,300 jobs as it focuses on vaping The figures Operating profit fell 8.7 per cent to £2.2bn in the 12 months to the end of September. That [...]
IPO costs knock Trainline into loss despite jump in ticket sales November 5, 2019 Trainline fell to a post-tax loss of £89m following its June IPO despite a 20 per cent boost to net ticket sales in its half-year results, it said today. Read more: Trainline increases revenue expectations as sales soar The figures Trainline recorded an £89m loss after tax in the six months to the end of [...]
Ryanair will ask for IAG divestments in €1bn Air Europa deal November 4, 2019 Ryanair boss Michael O’Leary is ready to ask competition regulators to intervene in British Airways owner IAG’s purchase of Air Europa, he said today. IAG is primed to buy the Spanish airline for €1bn (£860m) but O’Leary said he will ask the Competition and Markets Authority (CMA) to force the firm to make divestments to [...]
Independent MP John Woodcock to quit at December election November 4, 2019 Independent member of parliament John Woodcock has revealed he will step down as an MP in December’s election. Woodcock said he plans to quit politics after his partner, Spectator assistant editor and author Isabel Hardman, became pregnant. The MP , who was a member of the Labour party until he quit in the summer of [...]
British Airways owner IAG pays €1bn for Air Europa November 4, 2019 British Airways’ parent company, IAG, has reached a €1bn deal to acquire rival Air Europa in a bid to bolster its presence in the South Atlantic. The deal means IAG can turn its Madrid hub into “a true rival” to the four European hubs of Amsterdam, Frankfurt, Heathrow and Paris Charles De Gaulle airports, the [...]
Kier share price slumps as lenders ‘seek to offload debt’ November 4, 2019 Kier’s share price slumped seven per cent today following a report alleging lenders are trying to pass on its debt to hedge funds. Kier fell 8.4 per cent to 107.6p in early trading, with HSBC supposedly marketing the firm’s debt for as little as 70p in the pound. Read more: Kier lenders ‘try to offload [...]
Wework hits the brakes on London expansion after Softbank rescue deal November 1, 2019 Wework’s new owner has put its London expansion plans under review after Softbank stepped in with a massive bailout for the company, it is reported. The co-working space giant, which scrapped plans for an initial public offering (IPO) this year, has paused 28 possible deals as Softbank seeks to change tack. Read more: Wework ‘could [...]
US jobs: Trump’s economy beats expectations to add 128,000 workers November 1, 2019 Sterling’s rise was cut short today by US jobs data that beat expectations, pushing the dollar higher as America added 128,000 jobs to its economy in October. The pound, which came close to hitting $1.30 earlier on a weak dollar, curbed its climb to stand 0.22 per cent up at $1.296 while the dollar rose [...]
Police urge brothers to hand themselves in after Essex lorry deaths November 1, 2019 Police have urged two brothers wanted over the deaths of 39 people inside a lorry trailer in Essex to hand themselves in. Essex Police called on Ronan Hughes and Christopher Hughes to go to their nearest police station to help officers investigating the discovery of the bodies last month. “Today I want to make a [...]
