Volkswagen reduces model range as part of electric drive April 6, 2022 Volkswagen will reduce its model range to focus on more profitable vehicles as part of its electric drive, finance chief Arno Antlitz told the Financial Times today. The group – who owns brands such as Seat, Skoda Audi and Porsche – will cut down on models, going from the current 100 diesel and fuel vehicles [...]
Ikea owner splashes out on £285m for solar parks across Europe April 6, 2022 The owner of Ikea has invested almost £285m across Europe with the purchase of nine solar park projects. Ingka Group has bought solar photovoltaic (PV) parks in Germany and Spain, from developer Enerparc, which have a combined capacity of 440 megawatt. “The expected production will be sufficient to cover all IKEA stores and warehouses in [...]
Landscaping firm Marshalls snags roofing specialist Marley April 6, 2022 Landscaping firm Marshalls has agreed to acquire roofing specialist Marley for £535m. In an update on the London Stock Exchange on Wednesday afternoon, the FTSE-250 company said the acquisition “represents a significant step towards achieving our strategic goal to become the UK’s leading manufacturer of products for the built environment.” Martyn Coffey, chief executive of [...]
P&O plans to restart services ‘by next week’ as boss plays down safety failings April 6, 2022 Beleaguered ferry firm P&O said it was looking to restart sailing on the Dover to Calais route as soon as this weekend, as its boss looked to play down safety failings that forced it to suspend services on its ships.
UK announces more sanctions on Russia’s largest bank Sberbank April 6, 2022 The UK has slapped more sanctions on Russia’s largest bank Sberbank and banned all outward British investment into Russia. Sberbank and Credit Bank of Moscow now have all their UK assets frozen, after similar measures were taken against other major Russian banks last month, with the pair also unable to do business in Britain. The [...]
The City View: Innovate Finance summit roundup, and two Lidl adverts banned April 6, 2022 Today Andy Silvester chats to City A.M. reporter Charlie Conchie, and whistles through the main headlines you need to know. Andy and Charlie go through this week’s fintech Innovate Finance summit — they discuss the London Stock Exchange CEO’s comments yesterday on bosses needing a pay boost; Ron Kalifa’s views on the mindset shift needed [...]
Hospitality business owners to pay £215m more in tax this year thanks to NI rise April 6, 2022 British pubs, restaurants and hotels will be forced to pay £216m more in taxes this year thanks to today’s rise in National Insurance for employees and employers. New figures collated by the Liberal Democrats also showed that workers in the hospitality industry will be hit with a £137m extra tax bill this year, after the [...]
Bank of England spent £50,000 on logo and website re-design April 6, 2022 The Bank of England’s (BoE) recent logo and website re-design cost £50,000, a freedom of information request has revealed. The nearly 330-year-old institution, which is funded by banks – not the taxpayer – made a bid to change its image last month, to better reflect the makeup of the country, but it came at a [...]
LinkedIn triples UK editor headcount as it expands news desk April 6, 2022 LinkedIn has said it will be tripling its UK News headcount it has across the world as the firm expands from a professional network into a news one. The Microsoft-owned network currently employs three editors in the UK, which is increasing to nine, according to Press Gazette. Across the globe, the platform will now have 200 editors [...]
Johnson Matthey secures £400m loan for UK hydrogen push April 6, 2022 Johnson Matthey (JM) have been given a £400m loan from the government to boost research and development in sustainable technologies.
