Legal & General completes £2.4bn buy-out of folded telco’s pension scheme October 8, 2018 Insurer Legal & General has today finalised a £2.4bn buyout of the Nortel Networks UK Pension Plan, nearly a decade after its telecommunications sponsor collapsed, forcing it into the lifeboat. The deal will see the benefits of 15,500 pensioner members and 7,200 deferred members protected. It is the UK's joint second largest ever pensions buyout, matched [...]
Second customer to have died after allergic reaction to Pret product named as Celia Marsh October 8, 2018 The second Pret a Manger customer believed to have died after having an allergic reaction to one of the chain's products has been named. Celia Marsh, 42, died on 27 December 2017 after eating a "super-veg rainbow flatbread" that was supposed to be dairy-free, but was later found to contain a yoghurt with traces of dairy. [...]
Mitie acquires Vision Security in £14m deal October 8, 2018 Outsourcing and energy services firm Mitie today announced it had completed a £14m cash acquisition of Vision Security. Vision provides security systems such as manned guarding, CCTV and key holding services to its clients, employing 6,000 people and serving 1,400 locations. Mitie said the purchase would secure the position of its Total Security Management business and [...]
F1 video game-maker Codemasters accelerates towards full-year targets October 8, 2018 Recently listed gaming firm Codemasters today told investors it was on track to meet its full-year targets as it made £39.7m in revenue in the six months to 30 September 2018. The maker of the official F1 video games said digital sales as a proportion of its revenue rose to 53 per cent, amounting to [...]
Daily Mirror owner Reach sees like-for-like revenues drop as squeeze on circulation and print advertising continues October 8, 2018 The owner of the Daily Mirror newspaper Reach today reported another like-for-like fall in group revenue due to lower circulation and advertising revenues. In a trading update, Reach said that in the third quarter, though total revenue rose 21 per cent due to its recent acquisition of the Express & Star, on a like-for-like basis [...]
Home ownership becomes increasingly out of reach for young adults as average prices rocket 173 per cent in two decades October 8, 2018 The dream of home ownership is becoming increasingly out of reach for young people, as average house price increases have massively outpaced wage growth, a new study out today has found. Research by the Institute for Fiscal Studies (IFS) found average house prices in England have risen 173 per cent since 1997, while wages went up [...]
Ministers urged to give tax breaks to landlords who sell to long-term tenants in push to get renters onto housing ladder October 8, 2018 Ministers have been urged to get private renters onto the housing ladder by offering big incentives to landlords who sell their property to long-term tenants. Campaigning think tank Onward laid out proposals to give buy-to-let properties 100 per cent capital gains tax relief if the home is sold to a tenant who has lived there [...]
Leading bookie calls for ban on TV gambling ads before watershed October 7, 2018 The boss of one of the UK's biggest bookmakers will this week call for a ban on gambling adverts being shown before the 9pm watershed. Kenny Alexander, chief executive of Ladbrokes and Coral owner GVC, told City A.M. the number of ads appearing during football games had got "out of hand" as he called for the rest of [...]
Apple exec Angela Ahrendts bags $28m shares bonus October 7, 2018 One of Apple's retail bosses Angela Ahrendts made a whopping $28m (£21.m) last week through bonus shares thanks to the tech giant's stock price going through the roof. Ahrendts was given restricted stock units when she joined the company from Burberry in 2014, and has benefited hugely from Apple's share price nearly tripling since she was first hired. When she [...]
EE switches on UK’s first live 5G trial site at Canary Wharf October 5, 2018 Mobile operator EE will today bring 5G to the UK for the first time as it turns on its first trial site in Canary Wharf. Though a number of major telcos have announced plans for trials in London and across the UK, this is the first time a site has gone live for the general [...]
