Aggreko results in line with last year with a good outlook going forward March 3, 2020 Shares in back-up power generator company Aggreko jumped more than seven per cent this afternoon after it said it’s on track to meet targets for 2020. Although group revenue fell eight per cent from £1.7bn in 2018 to £1.6bn in 2019, profit after tax increased from £125m to £129m for the 2019 financial year. Final [...]
Travis Perkins returns to profit despite ‘challenging market’ March 3, 2020 Building materials business Travis Perkins said today it had swung to a profit in 2019. It said operating profit was £232m, compared to a £22m loss last year. Adjusted operating profit rose 7.8 per cent to £442m, despite a “challenging market backdrop”. Revenue grew 3.2 per cent to £6.9bn, with like-for-like revenue growth of 3.8 [...]
StanChart chairman ‘sounds out’ banking executives to replace boss Bill Winters March 3, 2020 Standard Chartered chairman Jose Vinals has reportedly approached banking executives this year in a bif to gauge their interest in replacing current chief executive Bill Winters. Vinals has been sounding out possible candidates from companies in Britain, southeast Asia, and Europe, according to Bloomberg, in a search that is not currently part of any formal [...]
RMT suspends next week’s South Western Railway strike action March 3, 2020 Rail workers union RMT has suspended strike action on South Western Railway that was due for next week to allow talks to take place this Friday. The action was due to take place between for 24 hours on 9 March from 10am and the same period on 12 March. Guards and drivers on the service [...]
Lidl crowned UK’s fastest growing supermarket March 3, 2020 Lidl was the fastest growing supermarket in the UK over the last 12 weeks, taking the crown from online grocer Ocado. The German discounter increased sales by 11.4 per cent in the 12 weeks to 24 February, becoming Britain’s fastest growing grocer for the first time since November 2017, as it opened its 800th store [...]
Competition watchdog risks ‘killing’ British tech firms, startups warn March 3, 2020 The UK competition watchdog risks “killing” rising British tech companies by launching lengthy investigations while global rivals are free to pull ahead, startups have warned. In a letter to chancellor Rishi Sunak, seen by City A.M., industry body the Coalition for a Digital Economy (Coadec) said the Competition and Markets Authority’s (CMA) “eleventh-hour interventions” risked [...]
Chris Packham to challenge HS2 decision on climate change grounds March 3, 2020 Renowned broadcaster and naturalist Chris Packham has launched a legal challenge against Boris Johnson’s decision to green light the controversial HS2 rail project on climate grounds. According to Packham, the climate impact of HS2 is “incompatible” with the UK’s net zero target, and will damage or destroy almost 700 wildlife sites, including over 100 ancient [...]
Pensions regulator launches consultation on tougher defined benefit rules March 3, 2020 The Pensions Regulatory (TPR) today launched a consultation on new tougher rules on the funding of defined benefit pension schemes. TPR is proposing a twin-track approach to funding defined benefit schemes, which are pension funds where an employer legally has to make up any shortfall in the event that the scheme is underfunded. Under the [...]
TfL rolls out new trains on the London Overground March 3, 2020 A raft of new trains will be rolled out on the London Overground from today. Transport for London (TfL) announced today that the new electric trains will increase capacity by 10 per cent and replace the oldest rolling stock on the network. The new trains are on overground routes from Cheshunt, Chingford and Enfield Town [...]
By 2025, Greggs will look beyond vegan sausage rolls for growth March 3, 2020 Greggs will consider international expansion in the next five years to continue the strong growth it has achieved in the UK, the bakery chain said today as it reported record results for last year. Chief executive Roger Whiteside said the company had not started looking at options but it has acknowledged that global expansion may [...]
