Battersea developer says project provides huge boost to the British economy October 2, 2016 The developer behind the regeneration of Battersea Power Station has claimed that the project will provide a £20bn boost to the British economy. An economic impact assessment by the Battersea Power Station Development Company (BPSDC) quantified the economic injection of the transformation and added that the project will have created over 20,000 jobs, according to reports in the Sunday Telegraph. [...]
Negotiations over the largest pension deficit in the FTSE 100 could be made worse by an Openreach spin-off October 2, 2016 BT's mammoth pension scheme deficit is threatening to derail Ofcom's plans to make its broadband infrastructure arm Openreach more independent from the telecoms giant. A consultation on the future of Openreach is due to close on Tuesday after attracting over 75,000 responses. Investors and analysts are deeply concerned that separating it from BT could cause significant issues for the group when it comes to [...]
Increased profits on the cards at Tesco but pension headache persists October 2, 2016 Tesco is expected to report on Wednesday that it has grown half-year profits but its steady resurgence could be undermined by a spiralling pension scheme deficit. Analysts expect a rise in underlying sales for the third quarter in a row and half-year profits could be as much as £624m – dwarfing the £354m generated in the same period last year. [...]
London swells the taxman’s coffers by paying almost half the country’s levy on home purchases September 30, 2016 The government collected £3.4bn of stamp duty from the London's homebuyers according to statistics released today. The number represented 46 per cent of the total amount of stamp duty paid in the UK over the last year. And together with the rest of the south-east, together the two areas accounted for more than two-thirds of the [...]
Brighton Pier waves losses goodbye as former Pizza Express chairman right-sizes operations September 30, 2016 Brighton Pier is back in the black and said that students had played a pivotal role in its return to profitability. The company revealed that it had sold 664,000 drinks under a "Loyalty Card" system during the last student year. This meant that on the assumption that every student moseyed down to the seaside for a pint, each one had consumed an [...]
Airbus announces restructuring plan in order to bring the group closer together September 30, 2016 French aerospace giant Airbus Group has announced a corporate shake-up that will see divisions merged, brands simplified and bureaucracy removed. The group’s plane and engine divisions will be brought under one umbrella with Fabrice Bregier taking on the role of chief operating officer of the new company to be called simply “Airbus”. "We are bringing Team [...]
Brits stick together as British Airways says it will start selling Marks and Spencer food on board September 30, 2016 There was good news and bad news for British Airways (BA) passengers today after the airline announced that it will serving up Marks and Spencer food on its short-haul flights from next year, but customers are going to have to pay for it. Following the lead of low-cost airlines, complimentary snacks will be a thing of the [...]
Dalian Wanda signs exclusive deal with badminton’s global governing body to take the sport to the next level September 30, 2016 Badminton could be the next sport to get a global corporate makeover after it was announced that China's richest man had agreed a deal worth hundreds of millions of dollars with the sport's international governing body. Wang Jianlin's Dalian Wanda Group has signed an eight-year exclusive partnership with the Badminton World Federation (BWF) that gives exclusive global sponsorship and media rights to its subsidiary Infront Sports [...]
The decline in the number of companies setting up in Panama has accelerated September 30, 2016 The number of new companies incorporated in Panama is likely to drop by a fifth following the leak of financial information earlier this year known as the Panama Papers. While there has been a falling trend in the volume of companies setting up on the isthmus since 2008 – at a rate of around 7.5 per [...]
