Deutsche Bank executive steps aside amid Wirecard probe December 9, 2020 Deutsche Bank’s head of accounting is reportedly stepping aside after German prosecutors launched another probe into Wirecard. Former EY partner Andreas Loetscher who joined Deutsche two years ago is set to “temporarily” set aside. The bank’s chief financial officer James von Moltke said Loetscher’s temporary replacement was taken “at Andreas’ request and in mutual agreement,” [...]
FTSE 100 rises ahead of PM’s Brexit trip to Brussels December 9, 2020 The FTSE 100 opened higher as Prime Minister Boris Johnson prepared to fly to Brussels for key Brexit talks and after the administration of Donald Trump in the US suggested a $916bn (£685bn) stimulus package. The index climbed 0.3 per cent to 6,580 points in early trading. Britain’s FTSE 250 index of mid-cap firms rose [...]
Balfour Beatty order book boosted by HS2 contract December 9, 2020 Balfour Beatty has forecast its year-end order book will grow after construction activity on the HS2 line was given the green light. In a trading update the construction firm forecast a year-end order book of around £17bn, a 20 per cent increase on the previous year. Despite delays caused by the pandemic, Balfour Beatty has [...]
Tesco to complete £8bn sale of Thai and Malaysian units this month December 9, 2020 Tesco is set to complete the sale of its Thailand and Malaysia businesses later this month after all conditions for the deal were satisfied. The UK supermarket giant announced in March that it was going to sell the two Asian businesses to Thai conglomerate CP Group. The deal is worth £8bn. Tesco is seeking to [...]
Stagecoach profits plunge 91 per cent on lockdown restrictions December 9, 2020 Bus operator Stagecoach has taken a significant hit to its first-half profits as the pandemic continues to restrict its regional bus services. The company’s profits fell to £5.4m in the six months to 31 October compared to £65.9m in the same period last year. This came after revenue from £800.2m to £454.6m in the first [...]
Aberdeen Standard to buy 60 per cent of logistics property investor Tritax December 9, 2020 Aberdeen Standard Investments (ASI) will acquire 60 per cent of logistics real estate manager Tritax for an undisclosed sum, the two companies announced today, as it seeks to benefit from the boom in online shopping. Tritax is a fund manager that focuses on investing in logistics real estate such as warehouses in the UK and [...]
Brexit: Boris Johnson to meet EU chief Ursula von der Leyen in Brussels TODAY December 9, 2020 Boris Johnson will meet with European Commission President Ursula von der Leyen this evening in Brussels for showdown Brexit talks. The pair will be briefed by their respective chief negotiators tonight about the outstanding issues holding up a trade agreement, before trying to hammer out a last minute deal one-on-one. Last night von der Leyen [...]
Use furlough scheme to help sick employees isolate, says think tank December 9, 2020 The government should use the furlough scheme to encourage more workers to self-isolate at home, as the current statutory sick pay regime does not go far enough. Self-isolating has continued to be a major factor used to control the spread of the Covid-19 virus throughout the pandemic, with all those with coronavirus symptoms urged to [...]
Brexit: City of London lobby slams EU for damaging confidence in UK financial services sector December 9, 2020 The City of London’s most influential lobby group has hit out at the EU for politicising decisions on the UK’s financial services sector’s access to Europe post-Brexit. The CityUK chief executive Miles Celic told a Westminster committee today that Brussels has created uncertainty for Square Mile firms through the “regrettable politiicsation” of the equivalence assessment [...]
Give our events industry the tools to save itself from Covid December 9, 2020 More than 1.5 million people are employed in the UK’s events industry and we all have one thing in common: we are problem solvers. That is what we do, day in, day out. We are logistics experts, known the world over for our technical and creative talents. We are ready to get back to work, [...]
