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  • Rolls Royce to sell marine unit for £500m

    July 6, 2018 5:17 AM 100

    Engine maker is in the process of restructuring its business to improve its profitability. The Derby-based engineer said the sale of the business, which employs about 3,600 people mostly in the Nordic region, will generate net proceeds of around £350m to £400m. Warren East, chief executive of Rolls-Royce, said: "This transaction builds on the actions

  • Dunstone rings up bigger TalkTalk stake after shares slump

    July 1, 2018 6:36 PM 132

    Sir Charles Dunstone has used Friday's fall in TalkTalk shares to add to his holding in the company, Sky News learns. Sky News has learnt that Sir Charles, who was reinstated to an executive role last year, used an 11% slump in TalkTalk shares on Friday to mop up another £750,000-worth of stock, according to a person close to the company. The move, which

  • Renters gain extra powers to stamp out 'revenge evictions' as ministers vow to bring in longer tenancy terms

    June 30, 2018 11:14 PM 90

    Action to curb 'revenge evictions' against renters who make complaints about the state of their homes will be unveiled tomorrow. Ministers will vow to introduce longer tenancy terms to give renters more security. The move comes amid concerns that some people do not complain about the standard of their property for fear of their tenancies being cut short

  • UK first quarter economic growth revised higher from 0.1% to 0.2%

    June 29, 2018 8:36 AM 81

    The slightly better growth figure for the UK economy is likely to raise the prospect of an interest rate hike later this year. Gross Domestic Product (GDP) has been revised up from 0.1% in an earlier estimate to 0.2%, according to the Office for National Statistics (ONS). During the first quarter of 2018, unusually cold weather hit Britain and the ONS also blamed

  • Amigo Loans bosses to pocket £327m in flotation

    June 29, 2018 7:27 AM 109

    Founder James Benamor and executives stand to scoop £327m from the company's initial public offering. The valuation is based on the share offer price of 275p and will be listed on the London Stock Exchange on 4 July. Founder James Benamor, 41, directors and employees stand to make £326.8m from the company set up two decades ago. Borrowers with a bad credit

  • Heathrow-owner to move holding company to the Netherlands

    June 26, 2018 8:27 AM 91

    Spain's Ferrovial froze investment into the UK as it sought more clarification on the Brexit process. Ferrovial, which currently has its international base in Oxford, said the decision would address the negative effects of Brexit and allow its businesses to be taxed in Spain. The Spanish construction company, which wants to remain under European commercial

  • US approves UK-grown marijuana-based epilepsy drug

    June 26, 2018 5:25 AM 123

    The drug uses cannabidiol which unlike THC does not produce a high and will be used to treat rare forms of childhood epilepsy. Nasdaq-listed GW Pharmaceuticals, which grows its own marijuana plants in glass houses in Britain, hopes the drug will be approved in the UK next year. The company's chief executive Justin Gover told Ian King Live last week: "This

  • Banks 'not prepared' for no-deal Brexit, EBA says

    June 25, 2018 8:31 AM 84

    The EU's top banking regulator warned banks "to speed up their preparations for the potential departure of the UK from the EU in March 2019" without an agreement in place. "Firms cannot take for granted that they continue to operate as at present nor can they rely on as yet unrealised political agreements or public policy interventions," Andrea Enria

  • Universal Credit system is 'bad value for money' and took too long to roll out, damning report finds

    June 15, 2018 11:24 AM 61

    The centrepiece of the sweeping Tory reforms to the benefit system is bad value for money and may never pay off for the taxpayer, the Whitehall spending watchdog said yesterday. The introduction of Universal Credit has taken years longer than it should have done, it may cost more than the old system of handouts it is replacing, and it has caused hardship

  • Half of councils now charge families for respite care with the average cost up to £740-a-week, figures show

    June 10, 2018 11:47 PM 73

    Many local authorities are charging family carers for respite breaks when they desperately need time off, figures have revealed. More than six million people in the UK care for relatives, and councils can fund cover for them if they are deemed eligible. But statistics obtained by Labour from 88 councils show that 52 now charge fees for respite care. Local