Financial news

• UK's Inmarsat rejects takeover approach from US rival EchoStar

  08-06-2018 19:14
  Satellite company sees its price rise 13% and says US firm ‘significantly undervalues’ itInmarsat, Britain’s leading satellite company, has rejected a bid approach from a US rival, in what could signal the start of a fresh foreign takeover saga.Responding to a 13.5% rise in its share price on Friday, Inmarsat admitted it had received an offer from Colorado-based EchoStar that it said “very significantly undervalued” the company and its prospects. Continue reading...
  
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• Sainsbury's chief 'in the money' with £3.4m pay package

  08-06-2018 17:54
  Mike Coupe’s annual wage rose by more than £1m last year as 9,000 shop staff face pay cutThe chief executive of Sainsbury’s is “in the money”, having earned nearly £3.4m in the past year – up 45% on the previous year – as a result of a big cash bonus and incentive scheme payouts.Mike Coupe was widely mocked in April when he was filmed singing one of the best known songs from the musical 42nd Street. An accomplished musician, he was caught off-guard
  
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• Let’s move to Ouseburn: if Newcastle upon Tyne had a Shoreditch, this would be it

  08-06-2018 17:30
  It’s the north-east’s pumping creative heartWhat’s going for it? Oh, yes, everyone’s talking about Ouseburn. What? Never heard of it? Darling, where have you been? If Newcastle had a Shoreditch, this would be it. Or rather, if London had an Ouseburn… Those not in the know might just drive over the Byker Bridge and barely glance at the mechanics’ sheds, warehouses, Victorian odds and sods, and is that a farm (it is) underneath them. This, I’ll have you k
  
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• House of Fraser landlords up in arms over CVA rent cuts

  08-06-2018 17:24
  Company voluntary agreements are being used by a growing number of struggling high street chainsA group advising House of Fraser landlords has hit out at proposals that would see them “take all the pain” while shareholders benefit from £70m pumped into the ailing department store chain.House of Fraser is proposing to close of 31 of its 59 stores, and as part of a rescue plan is seeking creditors’ permission to slash rent bills at these outlets, as well as at some of those
  
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• Wellie sales shield Joules

  08-06-2018 17:00 via feedproxy.google.com
  STRONG demand for wellies and outerwear sheltered Joules from the storm engulfing much of the high street.
  
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• Mitie on track rebuilding

  08-06-2018 16:51 via feedproxy.google.com
  MITIE boss Phil Bentley insisted the outsourcing group's recovery is on track as it rebuilds after a string of profit warnings.
  
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• Marks & Spencer’s Rowe's pay cut to £1m

  08-06-2018 16:42 via feedproxy.google.com
  MARKS & SPENCER chief executive Steve Rowe saw his pay package fall by nearly a third last year after missing out on a bonus following a sharp fall in annual profit.
  
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• Poundworld in protection move

  08-06-2018 16:37 via feedproxy.google.com
  POUNDWORLD has filed its intention to appoint administrators, giving it 10 working days to secure a rescue deal with a former owner of Little Chef.
  
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• BT chief executive Gavin Patterson to leave this year

  08-06-2018 16:33
  Move comes amid growing shareholder dissatisfaction with his performanceThe BT chief executive, Gavin Patterson, is to leave the telecoms giant this year after investors made it clear they had lost confidence in his ability to lead the company through an ambitious turnaround plan.In a surprise move, the company said it had started the process of looking for his successor and expected to appoint a new chief executive in the second half of the year.Continue reading...
  
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• Call for review on retail rents

  08-06-2018 16:15 via feedproxy.google.com
  RETAIL landlords have called on the Government to conduct an urgent review of restructuring deals that give rent reductions, as House of Fraser announced plans to close more than half its outlets.
  
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• Dentons delivers 36% PEP turnaround on 'strongest ever' financial results in UK ... - Legal Business (blog)

  08-06-2018 15:28
  Legal Business (blog)
  Dentons delivers 36% PEP turnaround on 'strongest ever' financial results in UK ...
  Legal Business (blog)
  The global management of Dentons are well known sceptics of the significance of profit per equity partner (PEP) but its UK and Middle East business is happily talking up 36% growth in the metric, rebounding from last year's drop to boast a £651,000 figure.en meer »
  
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• Civil/crime news: financial security and changing bank details - GOV.UK

  08-06-2018 14:21
  GOV.UK
  Civil/crime news: financial security and changing bank details
  GOV.UK
  Requests for provider bank detail changes have been reviewed and we now need more information to be supplied to make this happen. Why are you doing this? We've been reviewing our processes and believe this change will improve security.
  
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• Pound euro exchange rate: Sterling up as fears grow over Eurozone slowdown

  08-06-2018 13:58 via feedproxy.google.com
  The GBP/EUR exchange rate is currently at around €1.14, up around 0.2 percent from this morning’s starting levels of €1.136, and having rebounded over half a cent from Thursday’s worst levels. The euro is on the defensive this morning as data revealed that industrial production in both Germany and France unexpectedly contracted in April.
  
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• Pound dollar exchange: Rate static despite Boris Johnson warning of Brexit ‘meltdown’

  08-06-2018 13:45 via feedproxy.google.com
  The pound has held close to opening levels against the US dollar today following a leak of some comments made by Foreign Secretary Boris Johnson relating to Brexit. Despite this lack of movement, the GBP/USD pairing is still trading near its best level since 22 May at an exchange rate of $1.342.
  
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• Britain’s nuclear U-turn puts us in a very lonely club | Fred Pearce

  08-06-2018 13:30
  Pumping £5bn into a new plant in north Wales as a way to fight climate change is a solution at odds with the rest of the worldFor once, ministers have put their money where their mouth is – into taking another stab at nuclear power. This week the business secretary, Greg Clark, announced plans to pump £5bn into a new nuclear power station at Wylfa in north Wales. It was a reversal of a longstanding Conservative policy not to underwrite nuclear construction. So why the sudden en
  
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• Invesco acquires Intelliflo, the UK's leading technology platform for financial ... - Global Banking And Finance Review (press release)

  08-06-2018 08:27
  Global Banking And Finance Review (press release)
  Invesco acquires Intelliflo, the UK's leading technology platform for financial ...
  Global Banking And Finance Review (press release)
  Invesco Ltd. has acquired Intelliflo, a market-leading UK provider of advisor-focused digital solutions. Since its inception in 2004, Intelliflo has experienced rapid growth and has become the No. 1 technology platform for financial advisors in the UK1 ...
  
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• Who is to blame if a car sent in for repairs is stolen?

  08-06-2018 08:00
  My vehicle was taken from the dealer’s workshop but it says it is not liable and wants me to claim on my insuranceTwo months after I took possession of a £40,000 factory-ordered VW Golf R, I was involved in an accident that was not my fault. It was taken for repair by the dealership I bought it from, Inchcape in Macclesfield, and was subsequently stolen, along with two other cars, from its workshop. Inchcape has refused to accept liability and advised me to claim through my insurer,
  
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• Five of the cheapest UK homes for sale

  08-06-2018 08:00
  They may need a little TLC, but these properties show what’s out there if you’re able to do the work Continue reading...
  
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• Lawmaker Calls for UK to Uphold Financial Services Competitiveness After Brexit - Insurance Journal

  08-06-2018 07:00
  Lawmaker Calls for UK to Uphold Financial Services Competitiveness After Brexit
  Insurance Journal
  Britain's financial regulators should have a formal objective to keep London's banking and insurance sectors globally competitive after Brexit, a senior lawmaker said on Thursday. The now defunct Financial Services Authority had a requirement to pay ...en meer »
  
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