Ineos boss Sir Jim Ratcliffe: UK chemical manufacturing ‘having the life squeezed out of it’ January 13, 2025 Ineos boss Sir Jim Ratcliffe has warned British chemicals manufacturing is having the “life squeezed out of it” by the government, and is on the verge of extinction. The business titan slammed the de-industrialising of Britain, which started in the 1970s and 1980s, and criticised the government for a lack of energy strategy and high [...]
Ryanair tells passenger who caused diversion to pay £5,800 for everyone’s hotels January 13, 2025 Ryanair wants a “disruptive” flyer who caused a flight diversion to pay €7,000 (£5,886) for its crew and passengers’ replacement accommodation, amid a developing spat over alcohol consumption at European airports. The low-cost giant is suing the customer after being forced to divert a Dublin-Lanzarote flight to Porto in April last year. The individual was [...]
VCT fundraising push continues as Baronsmead launches £50m raise January 13, 2025 Two Baronsmead venture capital trusts (VCTs) have launched a £50m funding drive today as a boom in fundraising for the vehicles continues. The VCTs, which are managed by Gresham House, are targeting a £30m share offer with an over-allotment option of £20m, meaning they are able to issue new shares if there is demand from [...]
Brexit, Trump tariffs and China set to weigh on UK trade January 13, 2025 UK trade will only grow by 0.7 per cent annually between 2023 and 2033, according to new projections from Boston Consulting Group (BCG).
UK consumer confidence may struggle to ‘ride out’ uncertainty January 13, 2025 Consumer confidence ended 2024 on a high, but analysts have warned that it might not be able to ride out a wave of economic uncertainty this year. Confidence was at its highest since April 2021 in December, according to Yougov’s and CBRE’s monthly consumer confidence survey. Business activity, optimism about the future, and perceptions of [...]
Starmer declines to confirm Reeves will be Chancellor at next election January 13, 2025 Sir Keir Starmer has declined to confirm that Rachel Reeves will be Chancellor at the next general election. The Prime Minister was asked about Reeves’ role following a speech in London on artificial intelligence (AI) and insisted he was “completely confident” in her. However, he declined to guarantee she would still be in post at [...]
Chauffeur firm Blacklane looks to ‘double down’ on London after Saudi cash injection January 13, 2025 Luxury chauffeur service Blacklane is looking to “double down” on London after announcing its largest-ever funding round late last year. The Berlin-based firm, which counts Mercedes-Benz and the Saudi Public Investment Fund (PIF)’s Tasaru Mobility among its investors, raised £53.5m in October amid long-running reports of a possible Initial Public Offering (IPO). Blacklane’s airport transfer [...]
St James’s Place picks Schroders for former Impax mandate January 13, 2025 St James’s Place has awarded the mandate for its £5.2bn sustainability-focused fund to Schroders, after tearing it away from Impax at the end of last year. The loss of the sole mandate of the St James’s Place Sustainable and Responsible Equity fund, which Impax had managed since 2018, caused turmoil at the firm, with its [...]
CBI chair Rupert Soames: Reeves has created a ‘hole in the trust of business’ January 13, 2025 Rachel Reeves has created a “hole in the confidence and trust of business” by using the private sector to fill a £22bn hole in the government’s finances, the chair of the UK’s top business body has said. Rupert Soames, chair of the Confederation of British Industry, said the Chancellor had “bruised” British companies after rolling [...]
London Stansted reports busiest ever year as £1.1bn expansion gets underway January 13, 2025 London Stansted has reported a record year of passenger traffic as it pushes ahead with a £1.1bn expansion plan unveiled in the Autumn Budget. The hub to the North East of London welcomed 29.8m passengers in 2024, a 5.8 per cent increase on the previous record of 28.1m in 2019. It followed the airport’s busiest [...]
