Big ambitions and grand challenges: How the industrial strategy fares one year on November 29, 2018 It’s now a year since the industrial strategy was launched. Encompassing a 255-page tome, it laid five foundations for productivity: ideas, people, infrastructure, places and the business environment. It promised waves of sector deals between government and industry to de-risk investment and improve workers’ skills. Six such deals were announced in the first year, from automotive [...]
Dignity shares slide after regulator proposes funeral competition probe November 29, 2018 Shares in listed-funeral provider Dignity dropped 15 per cent today following an announcement by the Competition and Markets Authority (CMA) of a potential probe of the sector. The CMA today proposed a “major funerals probe after identifying serious concerns”. Shares in Dignity fell 15 per cent, from 864p to 847p following the news. The CMA [...]
Outsourcer Interserve’s share price falls as debts pile up November 23, 2018 Embattled outsourcing company Interserve will next year aim to quickly sell off assets to reduce its debt, amid concerns raised this month about its financial situation. Shares dropped again this morning by as much as eight per cent as the group said it would dispose of non-core businesses while considering options to “bring new capital [...]
Smarting: Rollout of new energy meters behind schedule and over budget, auditor says November 23, 2018 The spending watchdog has today called on the government to take responsibility as its scheme to put a smart metre in every home is by 2020 is set to fail. The National Audit Office found that initial cost estimates have already overrun by half a billion pounds, while it warned that customers may not save [...]
Tesla cuts car prices in China on tariff fears November 22, 2018 Tesla has said it is slashing the prices of its Model X and Model S sedan cars in China, as it attempts to absorb the hit from US President Donald Trump's ongoing trade war with the region. Prices will be cut on its top two models by up to 26 per cent to make the [...]
Oil drops to its lowest point since March as investors fear increased supply November 20, 2018 Oil prices continued to fall, sliding to their lowest point in eight months this afternoon after markets were hit by increased supply from the US and a slowdown in global trade. Brent crude, the international standard, dropped by five per cent to $63.38 a barrel (£49.43) this afternoon, extending on losses made earlier in the day. [...]
Europe’s top banker warns of eurozone ‘uncertainty’ November 16, 2018 The European Central Bank will push ahead with plans to roll back its stimulus package at the end of the year, the bank’s chief said today. ECB president Mario Draghi said he still expects the eurozone economy to keep expanding, but warned that there is increasing uncertainty. “If firms start to become more uncertain about [...]
Ofgem’s energy price cap to come into effect from new year, but critics say switching is still more effective November 6, 2018 Ofgem's energy price cap is set to come into force from 1 January, the regulator said today. But consumer groups have warned it is a “temporary fix” that could put customers off switching between providers to find the cheapest deals. Ofgem said the cap, announced in September, will reduce £1bn in overcharging on gas and electricity [...]
UK services sector suffers worst month since March as optimism hits lowest ebb since July 2016 November 5, 2018 The UK services sector had its worst month since March last month as optimism faded to its lowest since the aftermath of the EU referendum. Service providers signalled the weakest expansion of the sector since the snow-hit month of March and the weakest upturn in new work since July 2016, according to the closely-followed IHS Markit/CIPS purchasing managers’ index [...]
The carbon tax cost my company millions – and I’m calling on the chancellor to raise it on Monday October 26, 2018 Normally in the week before a Budget, you would expect businesses like mine to be making last-minute pitches to the chancellor for less regulation and a cut in taxes. Yet here I am about to make a case in favour of the carbon tax – a tax which in the past cost my company millions [...]