BMW flashes warning lights as mounting tech costs hit manufacturer’s forecasts March 20, 2019 BMW has alerted investors to a more than 10 per cent expected loss in group pre-tax profit for 2019, as the car manufacturer announced a far-reaching €12bn (£10.3bn) savings plan. Shares fell five per cent on the news. Last week, the firm said it would move up a gear in its efforts to cut costs [...]
Jim Ratcliffe’s Ineos buys Team Sky, securing future of Britain’s most successful road cycling team March 19, 2019 Jim Ratcliffe’s chemicals giant Ineos has bought Britain’s most successful road cycling team in recent years, Team Sky. The industrial firm, owned by Britain’s richest man Ratcliffe, will rename the cycling organisation Team Ineos when it takes over on 1 May. Read more: Ineos takes over US white pigment producer in $700m deal Tour Racing [...]
Cadbury pulls Freddo ad campaign amid accusations it encouraged children to loot March 19, 2019 Chocolate manufacturer Cadbury has scrapped an ad campaign following complaints it encouraged children to carry out “illegal excavation and looting”. The Freddo Treasures campaign, which urged children to “grab your metal detector and go hunting for Roman riches”, faced backlash from archaeologists and a government minister, who pointed out digging without the landowner’s consent is [...]
Theresa May gathers cabinet after Bercow deals fresh blow to her Brexit deal March 19, 2019 Theresa May is set to push on with her deal despite Commons speaker John Bercow threatening to derail the process yesterday. Read more: 'Constitutional crisis' as Bercow blocks another vote on May's Brexit deal Today Brexit secretary Stephen Barclay suggested a vote could occur next week despite Bercow saying “substantial changes” must be made to [...]
Kier to appoint former Carillion hire Andrew Davies as chief executive March 18, 2019 Embattled construction firm Kier is set to appoint the executive who was hired by Carillion weeks before the contractors collapse to lead a turnaround at the company. Andrew Davies, who was due to step into the role of chief executive at Carillion before it plunged into liquidation last year, is expected to be appointed as [...]
Chuka Umunna downplays speculation Tory MP Nick Boles could join the Independent Group March 18, 2019 Former Labour MP Chuka Umunna has downplayed suggestions Tory MP Nick Boles could join the Independent Group (TIG), saying he does not share the same "progressive values" of its members. Asked why Boles, who quit his local party over his stance on Brexit, had not joined the rump of disaffected former Labour and Tory MPs, Umunna said: "I'm [...]
Oman Air beats British Airways to top Heathrow’s greenest airlines league March 18, 2019 Oman Air has topped Heathrow Airport's league of green and quiet airlines, beating rivals such as British Airways and Etihad Airways. Oman's flag carrier landed itself at the top of the league after it phased out its older aircraft and replaced it with the ultra-quiet and green Boeing 787 dreamliner. The Heathrow "fly quiet and [...]
Revealed: The broadband provider most likely to cut you a better deal March 18, 2019 Consumers have long discussed the craftiest ways to negotiate the best deal from their broadband providers. But new research from check and challenge site Ismybillfair.com has revealed how likely broadband providers are to cut you a better deal. Read more: Satellite firm Inmarsat boosts revenue due to in-flight broadband demand According to the survey, Virgin [...]
Vote Leave chief urges MPs to back Theresa May’s deal as Brexiters start to turn March 17, 2019 The head of the Vote Leave campaign has urged MPs to swing behind Theresa May’s withdrawal agreement, saying Brexit has “never been at greater risk”. Matthew Elliott, the former chief executive of the official Brexit campaign that had the backing of Michael Gove and Boris Johnson, said the UK’s departure from the European Union “probably won’t [...]
Rival outsourcers could buy out Interserve services business as Mitie makes inquiries March 17, 2019 Interserve’s uncertainty continued over the weekend as rivals expressed an interest in buying the most profitable part of its business. It is understood fellow outsourcer Mitie contacted Interserve’s administrator EY over the weekend, as well as a consortium of banks and hedge funds which now own the firm, about buying its support services arm. Read [...]