Britain’s broadband boost: Regulator wants an infrastructure shake-up to reduce dependency on BT Openreach December 6, 2016 BT will be forced to share vital fixed line infrastructure with rivals in order to "reduce the country’s reliance on Openreach" under proposals by Britain's telecoms regulator. Ofcom today revealed plans it hoped would make it "quick and easier" for the likes of Vodafone,TalkTalk and Sky to build their own fibre networks. Openreach maintains the UK's main telecoms infrastructure [...]
Drax agrees to buy renewable energy firm in next stage of diversifying operations December 6, 2016 Shares in energy giant Drax rocketed nearly 20 per cent this morning after it announced a £340m deal to buy Britain's sixth largest energy provider. Opus Energy generates 96 per cent of its energy from renewable sources and its purchase by Drax fits neatly into plans announced earlier this year to improve earnings through diversifying across energy markets. Read [...]
President asks Matteo Renzi to stay on until the end of the month December 5, 2016 Italian President Sergio Mattarella has asked beleaguered Prime Minister Matteo Renzi to stay on in power until parliament has passed a budget bill later this month. Matteo Renzi arrived at the Italian President's palace earlier this afternoon. He was expected to tender his resignation to the head of state following a disastrous defeat in yesterday's constitutional referendum. The incumbent premier's budget, which [...]
US regulators have been much harsher than their UK counterparts while European authorities have been even kinder… December 5, 2016 US regulators have slapped fines on banks at four times the level imposed by their UK counterparts in connection with interest rate and foreign exchange manipulation. A total of 12 banks have been fined $9.8bn (£7.7bn) by US authorities over the last four and a half years. This compares with £2bn imposed on 11 lenders by UK authorities. [...]
HMRC told to hurry up and produce “tangible results” by Treasury Committee chairman December 5, 2016 A Tory heavy-hitter said workers with life-threatening diseases could miss out on compensation pay-outs because of failings by the taxman and today urged authorities to speed up the process. Victims of occupational diseases can only claim compensation from employers once they have received a full record of their employment. However, tax records are a vital part [...]
Unicredit to finalise terms with Amundi over €3.5bn deal to buy Pioneer December 5, 2016 French asset manager Amundi moved one step closer in its pursuit of Pioneer after entering into exclusive negotiations with its Italian parent Unicredit. The Italian lender is selling a number of its assets as part of a turnaround plan set to be unveiled on 13 December by new chief exec Jean-Pierre Mustier. Read more: UK asset manager pulls [...]
Experts predict annual record of car sales after fleet demand drives another month of growth December 5, 2016 Britain's businesses fuelled record new car sales for the first 11 months of the year, offsetting another month of falling demand from private car buyers. Sales increased by 2.9 per cent during November compared with 2015 according to the Society of Motor Manufacturers and Traders (SMMT). With 184,101 vehicles registered during the month, a total of [...]
Network Rail pays £316m in penalties for planned engineering works over the last year December 2, 2016 Network Rail has revealed which rail companies benefit the most from penalty payments for planned engineering works. And London's commuters may be shocked to hear the name that isn't at the top… No, neither Southern nor parent company Govia top the pile of operators which receive handouts from the publicly funded body in charge of Britain's rail infrastructure. [...]
NFU Mutual announces tie-up with BAE Systems to protect customers December 2, 2016 It's probably not one of the most obvious business combinations but one of Britain's largest insurers has drafted in BAE Systems to help protect itself from financial crime. NFU Mutual will team up with the defence giant to "provide the insurance firm and its customers with comprehensive protection across underwriting, claims and financial crime services." Read [...]
QinetiQ seals £1bn deal with MoD: Chief exec says it will give UK’s armed forces an “operational advantage” December 2, 2016 Defence engineering company QinetiQ received some Friday cheer after agreeing a £1bn deal with the UK government. And even better, the deal is cracking value for money… according to the government at least. "This new deal will ensure our armed forces get world-class training and testing facilities and services while making substantial efficiencies, ensuring excellent value [...]
