Former Stobart CEO buys share in Flybe ahead of proposed takeover January 12, 2019 The former chief executive of Stobart has bought a 10 per cent stake in British airline Flybe, just as it was announced that a consortium made up of Stobart and led by Virgin Atlantic was set to purchase the struggling airline. Stobart's former CEO, Andrew Tinkler, bought the share in the company on Friday, according to [...]
Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
Virgin Atlantic and Stobart Group poised to make takeover move for Flybe January 10, 2019 Richard Branson’s Virgin Atlantic and the Stobart Group are close to securing the takeover of embattled regional airline Flybe, according to reports in Sky News this evening. Flybe, which recently reported a 54 per cent drop in half-year profits, could be acquired by a consortium led by Virgin Atlantic in an offer that would represent [...]
Boohoo broke rules by advertising real fur as fake, ASA says January 9, 2019 Boohoo has been warned by the Advertising Standards Agency (ASA) after the online retailer was caught advertising a product containing real fur as faux fur. Humane Society International (HSI), which submitted the complaint, claimed that pom poms on a jumper sold by the site contained real fur, rather than fake fur as advertised. Read more: [...]
DUP slams government’s wooing attempts in advance of Brexit deal vote January 9, 2019 A spokesman for the Democratic Unionist Party (DUP) has slammed government proposals intended to get the support of the Northern Irish party for the Brexit deal as “fairly meaningless”. Minister for the Cabinet Office David Lidington, a key ally of Prime Minister Theresa May, had announced a series of pledges to try and sell the [...]
UK tipped to remain attractive location for M&A in 2019 after deal value surged in 2018 January 9, 2019 The UK has been tipped to remain one of the most popular locations for M&A in 2019 after the value of deals with a UK target in 2018 surged 40 per cent to £413bn. Research published today by Willis Towers Watson and Cass Business School showed that globally 2018 was the worst year for shareholder [...]
Fintech unicorn Monzo to appoint former Northern Rock boss to banking board January 8, 2019 Digital bank Monzo has appointed the former head of failed bank Northern Rock to its board, as the startup aims for growth in 2019. The fintech firm is to announce Gary Hoffman as its non-executive chairman tomorrow, as first reported by Sky News, replacing Baroness Kingsmill who has chaired Monzo since 2015. Hoffman will bring [...]
UK not looking to delay Article 50, says Brexit secretary Stephen Barclay January 8, 2019 The UK is not looking to extend Article 50, Brexit secretary Stephen Barclay has said, rebuffing reports that officials were seeking to move the 29 March deadline date. The Telegraph reported that British and European officials are discussing the possibility of extending Britain’s formal notice to withdraw from the EU. “The government’s policy is clear [...]
Labour and Conservative MPs join forces to attempt to block a no-deal Brexit by stripping government of powers January 8, 2019 Labour and Tory MPs have teamed up to table an amendment that seeks to force the government to rule out a no-deal Brexit. Conservative backbencher Nicky Morgan and Labour MP Yvette Cooper’s proposed amendment to the Finance Bill would limit the government’s spending powers if the UK leaves the EU with no agreement. It reportedly [...]
SFO scales back probe into Rolls-Royce January 7, 2019 The Serious Fraud Office (SFO) has dropped its investigation into a number of individuals associated with British engineering giant Rolls-Royce. Sky News originally reported that a number of people who were suspects in the SFO's investigation have been informed that they are no longer under investigation. Rolls-Royce entered into a deferred prosecution agreement (DPA) with the SFO [...]