Sports Direct and JD Sports join the race for Evans Cycles October 3, 2018 JD Sports Fashion and Sports Direct have taken up seats at the bidding table alongside Halfords for beleaguered firm Evans Cycles. Both sporting retail powerhouses have tabled indicative offers for Evans in the last week, Sky News first reported late last night. The bids come in addition to an offer from Britain's biggest bike firm [...]
Tesco share price falls despite taking the fight to supermarket rivals with rising revenues October 3, 2018 Tesco aimed to cement its status as the UK’s largest supermarket today with rising revenue and operating margins as it fights off competition from merging rivals and cheaper competitors. However, shares fell more than seven per cent in morning trading as the retailer missed a key profit metric. The figures The retail giant posted a 13 [...]
Theresa May will freeze fuel duty as Conservatives look to limit cost of living increases on working families October 3, 2018 Fuel duty will be frozen for the ninth year in a row, Prime Minister Theresa May will say in her speech to Conservative party conference in Birmingham today, in a populist pitch to working families. May's speech, in which she'll hope to steal back the lime-light from former foreign secretary Boris Johnson, will also set [...]
‘End Brexit psychodrama’ – Chamber of Commerce chief pleads with the Tories October 2, 2018 The Tories must end their Brexit "pyschodrama" and focus on making the economy "fighting fit", the head of the British Chambers of Commerce has warned. Speaking to City PM on the eve of Theresa May's speech to her party conference, BCC director general Adam Marshall pleaded with the government to focus attention on other problems [...]
Italian borrowing costs rise to four-year high as Rome-Brussels confrontation looms October 2, 2018 The cost of borrowing for the Italian sovereign rose to its highest since 2014 today amid investor fears of a face-off with the EU over the size of the deficit under the populist government’s spending plans. The yield on a 10-year sovereign bond, which moves inversely to prices, surged by more than 20 basis points [...]
Airbnb reveals its UK tax bill amid Tory calls for a digital services tax October 2, 2018 Airbnb paid just shy of £600,000 in UK tax last year, City PM can reveal, as chancellor Philip Hammond raises calls for a unilateral digital services tax on tech firms. In financial accounts seen by City PM and due to be published on Companies House later this week, Airbnb paid just £596,992 in corporate tax in the year [...]
Theresa May claims Boris Johnson will ‘tear up’ Northern Ireland promise October 2, 2018 Theresa May has hit back at Boris Johnson's plan for Brexit, claiming it would "tear up" the UK's pledge to Northern Ireland. In a series of interviews on Tuesday afternoon, May tore into Johnson's Brexit vision as it would see the need for customs checks on goods crossing the UK's border with Ireland. Her comments [...]
Tesla raises fears over China tariffs despite beating Model 3 delivery targets October 2, 2018 Production of Tesla cars reached a record high in the last quarter, but the firm remained hesitant of future success in China as a result of 40 per cent tariffs imposed on automotive imports from the US. The electric vehiclemaker said it produced over 80,000 cars in the third quarter, while deliveries to customers reached [...]
Boris Johnson launches no-holds barred attack on Theresa May’s Brexit plan in highly-anticipated conference speech October 2, 2018 Boris Johnson took a hammer to Theresa May's Brexit plan today as he claimed her proposals were "dangerous and unstable". Addressing a packed fringed meeting at the Conservative party conference, the former foreign secretary dubbed the so-called Chequers plan "an outrage" that was "not democracy". Read more: Conservative Party conference app flaw exposes MPs' phone [...]
Foreign secretary Jeremy Hunt backpedals on ‘Soviet prison’ comments about EU October 2, 2018 Jeremy Hunt, the foreign secretary, has backtracked on comments he made about the European Union in which he compared the group to the Soviet Union. Hunt provoked condemnation and mockery on Sunday, after he said the EU risked becoming like a Soviet “prison” because of its negotiation stance on Britain’s exit from the EU. Read [...]
