OBR says Government’s tax and spending plans could see borrowing rise by extra £100billion over the next five years Borrowing for the 2019/20 fiscal year will be £47billion instead of £28.7billion The OBR had initially planned to deliver its revised forecast in November The student loan changes added £12.4billion to the deficit in 2018/19 By … Read more
US Trade Representative Robert Lighthizer has said the first phase of a China trade deal designed to reduce tariffs and boost U.S. exports to the Asian giant is ‘totally done’. The two countries agreed to a deal on a Friday to a roll back on some US tariffs with China promising to purchase at least $200billion … Read more
Business output fell at fastest rate in three years during run-up to election as companies sat on their hands awaiting the outcome The composite Purchasing Managers’ Index figure was 48.5 in December This was down from 49.3 in November and represents a contraction in activity Companies were holding off on decisions until election outcome known By … Read more
British cinema chain Cineworld set to become top dog in North America as it makes move to buy Canada’s Cineplex for £1.6bn despite large debt pile Cineworld has unveiled plans to become the biggest chain in North America The deal to buy Cineplex is expected to add 165 cinemas and 1,700 screens Analyst describes deal as … Read more
Prominent member of Cobham family says we MUST protect UK defence, or we will lose ‘irreplaceable’ assets By Daily Mail City & Finance Reporter Published: 23:59 GMT, 15 December 2019 | Updated: 23:59 GMT, 15 December 2019 The UK appears to be the last major military power to prioritise the protection of domestically-owned and controlled … Read more
Caffe Nero owner to open dozens of new outlets despite growing losses By Daily Mail City & Finance Reporter Published: 23:59 GMT, 15 December 2019 | Updated: 23:59 GMT, 15 December 2019 The owner of Caffe Nero is poised to open 80 new outlets next year. The business, which also owns Harris + Hoole, Coffee … Read more
Week one, and PM faces a major industrial drama as British Steel rescue deal is under threat with 4,000 steelworkers at risk of losing their jobs China’s Jingye is currently the preferred bidder having offered £50million Jingye says it’s making progress and says its rescue plan is not in jeopardy The British Steel plant in … Read more
M&S poaches food boss from rival Sainsbury’s as it ramps up its ambitions M&S grocery boss has poached Sainsbury’s logistics director Chris Marrow Marrow has worked at the supermarket chain for almost 14 years By Neil Craven for The Mail on Sunday Published: 22:02 GMT, 14 December 2019 | Updated: 22:02 GMT, 14 December 2019 … Read more
Transport operator Go-Ahead launches Norway’s first privately run railway service Go-Ahead will operate its first route between Stavanger and Oslo It won the eight-year contract last year to run the Norway South rail franchise The firm already has foreign operations in Ireland, Germany and Singapore By William Turvill For The Financial Mail On Sunday Published: 22:02 GMT, … Read more
Bankers and advisers carve up £156m of fees in bidding battle for Just Eat The FTSE 100 company has agreed to an all-share merger with Takeaway.com But it faces competition from South African conglomerate Naspers By Jamie Nimmo For The Financial Mail On Sunday Published: 22:02 GMT, 14 December 2019 | Updated: 22:02 GMT, 14 … Read more
Labour peer nets millions as investors in his collapsed Koovs fashion firm are wiped out Koovs went under on Tuesday in a pre-pack administration Its chairman, Lord Waheed Alli, bought the clothing company, saving jobs But small shareholders in the AIM-listed company will lose out Alli’s TV production company was snapped up on the very … Read more
STOCK WATCH: Hedge funds squeezed out by Tory share surge; Living Wage rise may trickle into company coffers By Jamie Nimmo For The Financial Mail On Sunday Published: 22:02 GMT, 14 December 2019 | Updated: 22:02 GMT, 14 December 2019 It’s hard to know what Jeremy Corbyn might be more upset by – that Boris … Read more
M&C Saatchi’s quick fix: Troubled advertising group brings in top City headhunter to find new directors Bosses at M&C Saatchi want to appoint four new board members by next month Last week, four bosses resigned in the midst of an accounting scandal The company expect a PwC report into its accounts to complete by Christmas … Read more