Brexit secretary David Davis: We’re just totting up how much it will cost if we don’t agree a deal with the EU March 15, 2017 The government does not know the economic impact on the UK of a "no deal" Brexit, David Davis told MPs this morning. Responding to questions from the exiting the EU committee, Brexit secretary Davis admitted the government has not totted up how much it will cost the country if the UK fails to agree a new [...]
Forterra share price rises as brickmaker reports strong activity from housebuilding sector in 2016 March 15, 2017 Forterra's share price nosed up this morning after the company said it had experienced "strong activity levels" from housebuilders. Britain's second largest brickmaker posted modest annual growth, which its boss said was "good progress in the delivery of our strategy". The figures Revenue rose by 1.5 per cent to £295m while earnings jumped 4.6 per cent [...]
Pension deficits spike £46bn in February with experts warning of more volatility during Brexit negotiations March 14, 2017 The ability of Britain's firm's to manage spiralling pension liabilities is being hampered by the UK's exit from the EU, experts have warned. Pensions lifeboat, the Pension Protection Fund (PPF) today revealed the aggregate deficit of UK companies had grown at a rate of more than £1.6bn per day during February. Although deficits have retreated from all-time [...]
Close Brothers share price jumps after snaring Direct Line chairman Mike Biggs March 14, 2017 Close Brothers' share price jumped two per cent this morning after naming its new chairman and posting half-year numbers that were broadly in line with expectations. Direct Line chair Mike Biggs will join the investment firm's board with immediate effect, taking over from Strone Macpherson on 1 May. The figures Adjusted operating profit over the first six [...]
Prudential share price jumps on news of record operating profit driven by Asian growth March 14, 2017 Prudential shares rose over two per cent in early trading after the FTSE 100 insurer posted record annual operating profits, driven by a seventh year of double-digit growth in Asia. The figures Operating profit on longer-term investments rose by seven per cent to £4.3bn with underlying free surplus generated increasing 18 per cent to £3.6bn. [...]
TP Icap to move client relationships to EU countries as it plans for Brexit March 14, 2017 TP Icap said today it will move client relationships out of the UK as a result of Britain's decision to leave the EU. The broker revealed the plans as it posted better than expected annual results, with shares in the firm falling two per cent in early trading. The figures Tullett Prebon completed its buyout of Icap's [...]
Potholes beware: Britain’s roads are getting worse and hitting drivers in the pocket March 13, 2017 Potholes on UK's roads are hitting drivers in the pocket, with damage to vehicles costing an average of £1,600 per incident, according to research released today. The analysis of 10,000 over-50s revealed eight out of 10 motorists think road maintenance has got worse over the last few years. Councils and highways agencies have come under increasing pressure [...]
Unions prepare counter proposal after Royal Mail pension consultation closes March 13, 2017 Royal Mail has closed a consultation over the future of its final salary pension scheme, with unions preparing a counter proposal in the hope of preserving fixed payouts to workers. The former state-owned firm revealed in January plans to shut its mammoth pension scheme that serves 90,000 postal workers. It wants to move members over to a defined contribution [...]
Olympic Stadium investigation: Beancounters net fees, findings to be made public this summer March 13, 2017 The mid-tier accountancy firm undertaking the forensic investigation into the London Stadium overspend will net at least £140,000, according to documents published by City Hall. Moore Stephens was appointed in February to perform a review of how the cost to transform the Olympic Stadium into the multi-use London Stadium increased from an original budget of £115m to £323m. The firm plans to deliver [...]
Simply Business bought by Travelers in $490m deal to accelerate US expansion March 13, 2017 Simply Business has today been swallowed up by US insurance giant Travelers in a $490m (£402m) deal that will deliver a bumper payout to every one of the UK broker's 400 employees. The firm, which boasts 425,000 micro-business customers across 1,000 business classes in Britain, was bought by private equity fund Aquiline last year as part of [...]
