EU rejects UK’s call for quick agreement on financial services equivalence March 16, 2020 The EU’s head of financial regulation has rejected the UK’s calls for the City’s future access to the bloc’s markets to be settled by the end of June, warning that Brussels’ decision will be based on the extent Britain wants to deviate from EU rules. UK chancellor Rishi Sunak last month called on the EU [...]
Funeral company Dignity one of the leading risers on London Stock Exchange amid coronavirus fears March 16, 2020 Funeral company Dignity was one of the leading risers on the London Stock Exchange this morning in a bleak pointer to who investors think could do well out of the coronavirus epidemic. Dignity was up 2.5 per cent at 333p this morning, amid a stock market rout that came despite a dramatic intervention by the [...]
Ryanair to ground the majority of its fleet amid European travel bans March 16, 2020 Ryanair will ground the majority of its fleet in the next week as travel bans across Europe take effect. The low-cost airline said that even in countries where the fleet had not been grounded, social distancing restrictions would make flying impractical, if not, impossible. For April and May, Ryanair expects to reduce its seat capacity [...]
Apple fined $1.2bn by French antitrust authorities March 16, 2020 US technology giant Apple has been fined $1.2bn (£958m) by antitrust authorities in France. This is one of the largest fines the body has ever handed down. Two French wholesalers were also fined for running the cartel with Apple which exploited the company’s dependence on re-sellers. Tech Data and Ingram Micro received fines of 76.1 [...]
B&Q owner Kingfisher’s shares dive on European store closures March 16, 2020 Shares in B&Q owner Kingfisher plunged this morning after the DIY retailer warned that sales were expected to take a hit as stores closed across Europe due to the outbreak of coronavirus. The firm’s share price dropped more than 19 per cent after it was forced to shutter 221 of its Castorama and Brico Depot [...]
Halfords closes its cycling businesses as it pivots to online March 16, 2020 Halfords has announced the closure of two of its cycling businesses as it focuses its attention on its online operations. The retailer is closing the operations of Cycle Republic and the Boardman Performance Centre following a strategic review of the group’s cycling businesses. Halfords said it was closing the low-returning and stock intensive business next [...]
Second MP tests positive for coronavirus March 16, 2020 A second MP has tested positive for coronavirus, while others have announced they are self-isolating, as Covid-19 continues to spread throughout the country. Kate Osborne, Labour MP for Jarrow, announced this morning she had tested positive for the virus “following a period of self isolation and subsequent testing”. She added: “I will continue to self [...]
CMA says Future’s acquisition of TI Media does not raise competition concerns March 16, 2020 The Competition and Markets Authority (CMA) has approved Future’s acquisition of TI Media, saying it “does not raise competition concerns”. In October 2019, the publisher said it planned to acquire magazine printer TI Media, which owns popular titles Country Life and Marie Claire, for £140m in cash. After completing its initial investigation, the CMA found that [...]
Coronavirus: Downing Street to hold daily press conferences to keep public informed March 16, 2020 The government will hold daily televised press conferences to keep the public informed about the coronavirus outbreak, after coming under fire for its approach this weekend. Prime Minister Boris Johnson and his senior ministers including health secretary Matt Hancock will go before the cameras alongside the chief medical officer Chris Witty and the chief scientific [...]
Sirius Minerals shares suspended ahead of Anglo takeover March 16, 2020 Shares in Sirius Minerals were suspended this morning ahead of the embattled mining firm’s takeover by Anglo American. Shareholders earlier this month approved the controversial £405m acquisition by Anglo, which offered 5.5p per Sirius share. While most Sirius investors bought in at roughly 25p, the bid was accepted as the mining firm desperately sought funding [...]
