Coast Capital renews attempt to force break-up of bus operator First Group March 9, 2020 Coast Capital has renewed its attempts to engineer a break-up of transport operator First Group, saying it will try to force an emergency general meeting of shareholders unless the group announces a separation. First Group has long been under pressure from several of its investors to separate the company’s North American operations into independent businesses, [...]
TfL releases designs for temporary Hammersmith Bridge March 9, 2020 Plans to build for a temporary cyclist and pedestrian bridge alongside the partially closed Hammersmith Bridge have been unveiled by Transport for London (TfL). The temporary bridge would allow the Hammersmith Bridge, which has been closed to traffic since April, to completely shut in order to prepare for restoration works. The temporary structure would provide [...]
US stocks sell-off triggers trading pause amid coronavirus panic March 9, 2020 US stock markets plunged after Wall Street opened as the spread of coronavirus around the world and the steepest drop in oil prices since the 1990s panicked investors. The dramatic falls of more than seven per cent were so big they triggered an automatic cutout system put in place after the financial crisis, pausing trading [...]
Coronavirus: Supermarkets call for competition laws to be waived March 9, 2020 The bosses of the UK’s biggest supermarkets are expected to warn the government that the outbreak of coronavirus could require competition law to be paused to allow them to collaborate. During a phone call with environment secretary George Eustice at least one of the big four grocers will reportedly call for the suspension of the [...]
Lord Ashcroft’s Devonshire Club at risk of closure as coronavirus stalls takeover March 9, 2020 An exclusive private members’ club co-owned by Tory peer Lord Ashcroft is fighting for survival after a planned takeover deal collapsed due to the coronavirus outbreak. The Devonshire Club, close to Liverpool Street station in the City, had agreed terms with an unnamed buyer, with the deal set to complete this week. However, the firm [...]
UK aviation industry rejects decision to leave EU Aviation Safety Agency March 9, 2020 The UK aviation industry has hit back at plans to leave the European Union Aviation Safety Agency (EASA) by the end of the year, saying that the move posed a risk to highly skilled jobs in the UK. The calls come after US magazine Aviation Week reported that transport secretary Grant Shapps had confirmed that [...]
Aon to buy Willis Towers Watson for nearly $30bn in insurance mega-deal March 9, 2020 Aon said today it had agreed to acquire Willis Towers Watson for nearly $30bn (£22.9bn) in an all-stock deal that will create one of the world’s largest insurance brokers. The deal between the two would create a company with a combined value of approximately $80bn. Aon confirmed last year it was in early stage talks [...]
Downing Street defends coronavirus strategy after Italy lockdown March 9, 2020 Downing Street said today the coronavirus will spread in a “significant way” across the UK, after Prime Minister Boris Johnson chaired a Cobra meeting on the outbreak. A Number 10 spokesman said Britain is still officially trying to contain the virus as part of its four-step coronavirus strategy. But the government said experts now believe [...]
NY Fed increases short-term funding as US stocks brace for open March 9, 2020 The Federal Reserve Bank of New York has ramped up the amount of money it provides in very short-term loans to the financial system in a bid to keep Wall Street steady amid a coronavirus-driven market rout. The NY Fed today said daily overnight repurchase agreement (repo) operations will increase to $150bn (£115bn) from $100bn. [...]
Coronavirus: TfL worker tests positive for Covid-19 March 9, 2020 A Transport for London (TfL) worker has tested positive for coronavirus, it was reported, as the outbreak continues to spread across the UK. The employee in question works at the body’s control centre at Palestra House in Blackfriars, rather than on a part of the underground network, TfL confirmed. TfL said that it had ordered [...]
