Pound falls against the dollar and the euro after EU official says there will be ‘no deal in the desert’ at a summit in Egypt next weekHigh street sales flat in February, CBI saysGerman economy flatlines in fourth quarterCanada’s Saputo to buy Dairy Crest for nearly £1bnEurozone inflation dips to 1.4% in January 12.26pm GMT The pound has just dipped below $1.30, down 0.4% against the dollar at $1.2997.It is down 0.3% against the euro at €1.1469. 12.20pm GMT European markets are up across the board, with US futures pointing to a higher open for Wall Street.Connor Campbell, analyst at the spread[...]
Rise will take effect from 25 March, when second-class stamp will go up to 61p The price of a first-class stamp is to increase by 3p to 70p and a second-class stamp will go up by 3p to 61p, the Royal Mail has announced.The increases will take effect from 25 March and will help ensure the sustainability of the universal postal service, the company said. Continue reading...
British maker of Cathedral City cheddar employs more than 1,100 people in seven locationsThe British owners of Cathedral City cheddar and Clover margarine have agreed a near-£1bn takeover from the Canadian dairy company Saputo.On Friday Dairy Crest recommended shareholders accept an offer from Saputo that values the FTSE 250 company at £975m. Continue reading...
Independent body awards £120m despite bank reporting loans blunder last monthMetro Bank has clinched the biggest award to date from a £775m scheme meant to boost competition in the banking sector, despite the revelation of a major accounting blunder at the high street lender last month.The independent Banking Competition Remedies body awarded the first tranche of cash to Metro Bank, Starling Bank and Clear Bank – with Metro securing the largest pot of £120m. The others will take home £100m and £60m, respectively. Continue reading...
Though Amazon’s Queens headquarters were ultimately scuppered it turns out the company is already receiving benefits from the governmentAmazon will not be moving to New York after all. After months of public debate, the plans for the technology and e-commerce company to establish a second headquarters in Long Island City were ultimately scuppered last week.Cities across the US have been attempting to lure Amazon by offering public subsidies in the hopes that the company would bring jobs. And New York was no exception, offering Amazon nearly $3bn in tax incentives. Researchers, activists and u[...]
Buildup of freight at Channel tunnel might affect services into capital, operator warnsRail passengers commuting into London could have services disrupted by freight trains if a no-deal Brexit causes logjams at the Channel tunnel, it has emerged.Go-Ahead, the company behind the rail operator Southeastern, said it was working with the government to try to ensure commuters were not affected. Continue reading...
Fears about free movement and supply chain were discussed with locals at event in SwindonA senior figure at Honda listed a catalogue of risks posed by Brexit at a briefing near its Swindon plant last year, fuelling doubts about the carmaker’s insistence that Britain’s withdrawal from the EU had nothing to do with the factory’s closure.The Japanese carmaker, which said earlier this week that the closure was “not a Brexit-related issue”, appeared to dilute its rhetoric after the Guardian presented it with details of what Swindon residents were told last year. Continue reading...
The group campaigning against sexual assault has revealed that its president and CEO Lisa Borders resigned this week due to allegations against her sonTime’s Up, the group campaigning against sexual harassment in the workplace, has announced that its CEO Lisa Borders’ resignation on Monday was the result of an accusation of sexual assault made about her son.In a post on social media, Time’s Up said: “On Friday, Lisa Borders informed members of Time’s Up leadership that sexual assault allegations had been made against her son in a private forum. Within 24 hours, Lisa made the decision to resign[...]
Embargo threatens UK’s pending £10bn deal to sell 48 Typhoon jets to Saudi ArabiaDefence company BAE Systems’ share price fell sharply on Thursday after it warned that a German ban on arms exports to Saudi Arabia, imposed after the killing of journalist Jamal Khashoggi, could scupper a multibillion-pound deal to sell Typhoon fighter jets.Alongside its annual results on Thursday, BAE Systems stressed that its business is “reliant on the approval of export licences by a number of governments in order to continue supplies to Saudi Arabia”. The Gulf state accounted for around 14% of BAE’s annual s[...]
Authors say outdated laws fail to protect vulnerable users from smartphone gamblingSmartphone gambling apps are more dangerous than fixed-odds betting terminals (FOBTs) for people with addiction problems because opportunities to lose money are “just a tap away”, a study suggests.Gambling games on smartphones have surged in popularity in recent years, allowing high-stakes betting within the palm of its users’ hands, with video game-style play making them appear “harmless” and introductory offers providing incentives to sign up. Continue reading...
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