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December 6, 2019
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Eddie Stobart rescue vote passes ‘overwhelmingly’

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https://www.bbc.co.uk/news/business-50684851 Image copyright Getty Images Eddie Stobart shareholders have approved a rescue plan for the truck company, staving off possible collapse. One of the firm’s largest shareholders, DBay Advisors, will lend it £55m through high-interest bonds and assume control of the haulier. Shareholders voted “overwhelmingly” for the deal, the company...
BBC - Business

Lloyd’s of London staff told to behave at Christmas parties

BBC
https://www.bbc.co.uk/news/business-50684845 Image copyright Getty Images Workers at insurance market Lloyd’s of London have been told to behave during the Christmas party season. Chief executive John Neal told trade magazine Financial News that staff have been emailed warning them to be “particularly careful”. The move by Lloyd’s comes after it vowed...
BBC - Business

West Coast Rail: Preston-to-Scotland rail fares to be capped

BBC
https://www.bbc.co.uk/news/business-50684425 Image copyright Getty Images The UK’s competition watchdog has accepted a proposal to cap rail fares on certain routes between Preston in Lancashire and Scotland. The agreement is part of a deal with FirstGroup and TrenItalia, who now run the West Coast Rail franchise. The Competition and Markets Authority...
BBC - Business

Garuda airline boss to lose job over smuggled motorbike

BBC
https://www.bbc.co.uk/news/business-50682177 Image copyright Getty Images Image caption Ari Askhara has been accused of failing to declare the importation of a Harley Davidson and two folding bikes The boss of Indonesia’s national airline is being dismissed over allegations he smuggled a classic motorbike into the country. Garuda’s chief executive Ari Askhara...
BBC - Business

Saudi Aramco raises $25.6bn in world’s biggest share sale

BBC
https://www.bbc.co.uk/news/business-50681159 Image copyright Reuters State-owned oil giant Saudi Aramco has raised a record $25.6bn (£19.4bn) in its initial public offering (IPO) in Riyadh. The share sale was the biggest ever, surpassing that of China’s Alibaba which raised $25bn in 2014 in New York. The firm relied on domestic and regional...
BBC - Business

Thomas Cook customers face further refund delays

BBC
https://www.bbc.co.uk/news/business-50680106 Image copyright Getty Images Customers of defunct tour operator Thomas Cook have reacted angrily after learning they will face further delays in getting refunds for Atol-protected package holidays. The Civil Aviation Authority originally said all valid claims would be refunded within 60 days, or by this Friday. But it...
BBC - Business

DeepMind co-founder Mustafa Suleyman switches to Google

BBC
https://www.bbc.co.uk/news/technology-50679791 Image copyright Getty Images Image caption Mustafa Suleyman helped develop the controversial Streams health app Mustafa Suleyman, co-founder of British artificial-intelligence firm DeepMind, has announced that he is joining Google. He had previously said he was taking time off from DeepMind. Mr Suleyman helped develop Streams, a controversial health...
BBC - Business

Plum: Users of money app complain of long delays for withdrawals

BBC
https://www.bbc.co.uk/news/business-50658046 Image copyright Getty Images Users of money management app Plum have reacted angrily after facing long delays to withdraw their money. Plum helps people to save money automatically by analysing their bank transactions to find spare cash. The firm did not say how many had been affected by the...
BBC - Business

Eddie Stobart faces crunch rescue vote

BBC
https://www.bbc.co.uk/news/business-50671833 Image copyright Getty Images The fate of troubled trucking firm Eddie Stobart is set to be decided by a crucial meeting on Friday, with investors voting on a rescue proposal. One of the firm’s largest shareholders, DBay Advisors, wants to lend it £55m through costly, high-interest bonds. If shareholders...
BBC - Business

British Steel’s French site advertised for sale

BBC
https://www.bbc.co.uk/news/business-50671443 Image copyright Getty Images British Steel’s French factory has been advertised for sale separately from the UK operation, despite a Chinese firm’s deal to rescue the whole company. Last month, China’s Jingye agreed to buy British Steel, paying about £50m to take over the collapsed business and save about...
BBC - Business

Lotus Evija: The £2.2m electric hypercar

BBC
https://www.bbc.co.uk/news/technology-50549634 The Lotus Evija will be the first all-British electric hypercar. The company says it will be the most powerful production car in existence with the capability of accelerating from 0-186mph (0-300km/h) in “significantly” less than nine seconds, and with a maximum speed of more than 200mph. BBC Click finds...
BBC - Business

‘I would sell a kidney for the Baby Yoda toy’

BBC
https://www.bbc.co.uk/news/business-50656178 Image copyright Jessica Allsop Image caption Instagram influencer Jessica Allsop wants a Baby Yoda toy so badly she’s willing to spend a lot of money “I want a Baby Yoda toy so badly that I’d consider selling a kidney,” jokes Star Wars fan and Instagram influencer Jessica Allsop, 26....
BBC - Business

UK’s biggest commercial property fund suspended

BBC
https://www.bbc.co.uk/news/business-50658437 Investors in the UK’s biggest commercial property fund – worth £2.5bn – have been temporarily prevented from taking out their money. Investment firm M&G said withdrawals from its Property Portfolio fund had been suspended after investors consistently withdrew their savings. The firm blamed “Brexit-related political uncertainty” and difficulties in...
BBC - Business

Pound surges to two-year high against the euro

BBC
https://www.bbc.co.uk/news/business-50656107 Image copyright Getty Images Sterling has jumped after opinion polls suggested the UK would avoid a hung parliament after next week’s election. The pound reached a seven month high against the dollar and its highest level against the euro since May 2017. The move came after polls suggested a...
BBC - Business

Who is Sundar Pichai and what does Alphabet do?

BBC
https://www.bbc.co.uk/news/technology-50656803 Image copyright AFP Image caption Sundar Pichai is the new chief executive of Alphabet Sundar Pichai, the chief executive of Google, has been put in charge of its parent company Alphabet, after co-founders Larry Page and Sergey Brin announced they were stepping down. The 47-year-old said the pair had...
BBC - Business

‘People of colour seem to be superglued to the floor’

BBC
https://www.bbc.co.uk/news/business-50656176 Image copyright Getty Images The UK’s top firms have failed to make any progress on increasing ethnic diversity amongst top executives, a new report has found. Ethnic minority representation has fallen over the past year and 47 companies still have all-white staff at board and executive director level. “The...

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