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RMT puts ‘new and improved offer’ from Network Rail to vote
The Rail, Maritime and Transport Workers’ union (RMT) is putting a “new and improved” pay offer from Network Rail to its members for a vote.Following the new offer, the union announced on Tuesday evening it was suspending strikes that were due to take place from 2am on 16 March until 1.59am on 17 March. Union …
Business
Sky News
BMW revs up £500m plan to secure Mini production in Britain
BMW, the German car manufacturer, is applying the finishing touches to plans to invest hundreds of millions of pounds into its Oxford plant, securing future production of the iconic Mini in Britain.Sky News has learnt that BMW hopes to announce its decision later in the spring, with one industry insider saying on Wednesday that it …
Business
Evening Standard
Bank of England rate-setter: ‘it is likely that we are overestimating’ inflation
A Bank of England Monetary Policy Committee member has said that “further tightening is a bigger risk” than not raising interest rates enough, and that key aspects of inflation may be overestimated.In a speech for think tank the Resolution Foundation, Swati Dhingra – one of the nine economists who set UK interest rates – said …
Business
Evening Standard
‘This makes no sense’: Heathrow slams CAA decision to cut passenger charges
Heathrow Airport has hit out at the UK Civil Aviation Authority’s (CAA) decision to require the airport to cut passengercharges, saying the decision “makes no sense”.The CAA today set out its annual caps on the charges Heathrow levies on airlines operating flights there until the end of 2026.The price will fall from £31.57 per passenger …
Business
Evening Standard
Car insurer Admiral slashes dividend after profits plunge
Insurer Admiral has revealed annual profits slumped by 39% after it was hit by soaring inflation and the rising cost of motor claims in one of its most “challenging years” for decades.The group reported pre-tax profits of £469 million for 2022, down from £769 million in 2021.Admiral slashed its full-year dividend payout by 40% to …
Business
Evening Standard
RMT urged to call off strike at train firms after suspending Network Rail action
Britain’s biggest rail union has been urged to call off next week’s strikes at train companies after suspending industrial action at Network Rail.The Rail Delivery Group (RDG), which represents operators, called on to the Rail, Maritime and Transport union (RMT) to “meet us for urgent talks”.The RMT has been engaged in national rail strikes in …
Business
Evening Standard
L&G boss Wilson blasts “political infighting” for our “low wage, low growth” economy
Sir Nigel Wilson set the scene for a distinguished exit from the City today as he unveiled record results at Legal & General – and fired a broadside to politicians he thinks are failing the financial sector and the wider publicHe leaves L&G soon after ten years as CEO, during which he has tried to …
Business
Sky News
Adidas warns of first loss in decades after split with Kanye West – as it decides what to do with mountain of unsold Yeezy trainers
Adidas has revealed plans for a huge cut to its dividend as it battles the costly fallout from its failed partnership with rapper and fashion designer Kanye West.The company admitted on Wednesday that it was still yet to decide what to do with a mountain of unsold Yeezy trainers, the legacy of its split from …
Business
Business Live
Aggregates giant Breedon planning move from AIM to main stock market as sales hit £1.4bn
Management at Breedon Group have said they plan to move it from the AIM stock exchange to the Main Market to better reflect its “scale and heritage”. The announcement comes as new figures show the Leicestershire-based construction materials giant hit revenues of £1.4 billion last year, up 13 per cent on 2021. Pre-tax profits were …
Business
Business Live
SIG generates big jump in underlying profit thanks to success of turnaround strategy
Construction products supplier SIG has almost doubled underlying operating profit thanks to improved trading across its UK and overseas business. The Sheffield-based plc said that, despite a squeeze on margins and inflation-driven increases in operating costs, the business underlying operating profit jumped from £41.4m to £80.2m in 2022, as underlying revenues increased from £2.29bn to …
Business
Business Live
Insurance to loans group Admiral sees pre-tax profits slide by more than a third
Car insurance to loans group and Wales’ only FTSE 100 company, Admiral, has seen its pre-tax profits fall by a more than a third. However it said it performed well in a challenging inflationary hit insurance market – with rising claim costs – as its continues its diversification strategy of being less reliant on its …
Business
Business Live
musicMagpie ‘very confident’ for the future as it slashes losses during tough year but revenue stalls
The boss of musicMagpie said the company remains “very confident” in its future prospects after slashing its losses during a “tough year”. The Stockport-headquartered company has posted pre-tax losses of £1.4m for the 12 months to November 30, 2022, down from the £14.8m during the previous year. However, its revenue declined slightly from £145.5m to …

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