UK to slip down global economic league table, analysts predict
The UK risks falling from fifth to seventh in the rankings of the world’s largest economies next year, analysts have claimed.
Business
GlaxoSmithKline agrees consumer tie-up with Pfizer ahead of future spin-off
British drugs giant GlaxoSmithKline has agreed a tie-up with US rival Pfizer to merge their consumer healthcare divisions to create a business with combined sales of £9.8 billion.
Virgin Atlantic still in talks over Flybe deal
Virgin Atlantic has said that it is still considering whether to launch a takeover of regional airline Flybe.
Watchdog recommends price caps to end £4bn consumer rip offs
The competition watchdog has laid down a set of radical reforms to the way the insurance, mortgage, mobile phone and broadband markets operate after finding that loyal customers are being ripped off to the tune of £4 billion.
Business groups ‘watching in horror’ over risk of no-deal Brexit
The country’s five main business groups have issued a strongly worded warning about a no-deal Brexit, saying many firms are now reaching “the point of no return”.
Bank of England must transform back office to slash costs, says watchdog
The Bank of England made £10 million of purchases without following proper procedures and has 800 desks sitting empty at its Threadneedle Street offices, an inquiry into its costs has revealed.
FTSE 100 dragged lower by drop in commodities and stable pound
Weakness in the commodities markets weighed on London’s blue-chip index on Tuesday, while a stable pound put further pressure on top-flight shares.
Lower petrol prices expected to bring inflation down
Inflation is expected to have fallen in November due to a drop in prices on motor fuel.
Proposed overdraft changes welcomed by consumer campaigners
Overdraft charges will be made simpler and fairer and “overdraft prisoners” who are persistently in the red will get more help under a radical shake-up proposed by the City regulator.
British augmented reality start-up Blippar falls into administration
Augmented reality experience maker Blippar has gone into administration.
WeWork still committed to UK despite Brexit uncertainty
The new UK boss of flexible workspace firm WeWork has doubled down on the company’s commitment to the British market despite growing uncertainty over Brexit.
BT acts on excessive chief executive pay following massive revolt
BT is to overhaul the way it sets executive pay after the telecoms giant suffered a revolt over outgoing boss Gavin Patterson’s bumper £2.3 million remuneration.
How the regulator’s proposals could cut the overdraft charges consumers pay
A fundamental shake-up of the overdraft market, with simpler and fairer pricing, has been proposed by the Financial Conduct Authority (FCA). Here is a look at why the regulator is doing this and what the changes could mean:
Wellcome Trust shrugs off ‘choppier markets’ to boost fund to £26bn
The Wellcome Trust has boosted the value of its fund to almost £25.9 billion despite “choppier markets” and pledged around £900 million a year in charitable spending until at least 2022.
Ofgem proposes reforms to energy system
Energy regulator Ofgem has tabled proposals to “re-wire” Britain’s energy system in a move it says could save consumers £45 per year and hit network providers.
Overdraft charges set for ‘biggest shake-up in a generation’
Radical plans to overhaul how banks charge customers for overdrafts – including stopping firms charging higher prices for unarranged borrowing – have been proposed by the City regulator.
Angling Direct books rising sales amid bumper Black Friday trading
Angling Direct reeled in rising sales in the last quarter as it profited from record Black Friday sales.
FTSE 100 declines as concerns about global economy continue
The FTSE 100 traded lower on Monday as investors continued to be concerned about the sate of the global economy.
ONS gives Hammond £12bn student loans headache
Chancellor Philip Hammond has been dealt a £12 billion blow after statistics officials changed the way student loans are accounted for in the public finances.
Asos’s profit warning sends shares of rivals lower
Retail stocks tumbled after Asos warned full-year profits will be lower, blaming a “significant deterioration” in November trading.
Investor Cat Rock digs claws into Just Eat over performance
Just Eat has been described by one of its shareholders as the worst-performing online food firm in the world as it called for a radical shake-up.
SSE and npower switch off merger
Energy giants SSE and npower have called off their merger, blaming “challenging market conditions” and the Government’s price cap.
Asos issues profit warning as Christmas sales falter
Online retailer Asos has warned over sales and profits after experiencing a “significant deterioration” in trading in the run-up to Christmas.
Crackdown on nuisance calls targets bosses of rogue firms
A crackdown on bosses whose firms pester people with unsolicited calls will leave them “nowhere to hide”, the Government has insisted.
Laura Ashley to close 40 UK stores as chairman plots China expansion
Laura Ashley is to close around 40 stores as the company’s new chairman pushes ahead with a fresh vision for the brand which includes expansion in China.
Consumers hit the shops – but weekend footfall down on last year
Christmas shoppers ventured out in greater numbers on Sunday after Storm Deirdre passed – but the weekend’s overall footfall remains down on this time last year.
Giggling Squid to keep spreading tentacles despite being hampered by Brexit
Thai restaurant chain Giggling Squid has said Brexit uncertainty has held back its expansion plans, but vowed to keep opening sites as rivals retrench.
FTSE 100 in the red on global growth fears
London’s blue-chip index was in the red on Friday as investors fretted about global growth and an economic slowdown in China.
Hamleys circled by Mike Ashley and The Entertainer
Mike Ashley’s Sports Direct has emerged as a prospective bidder for Hamleys as the toy store’s Chinese owner looks for an exit.
LSE names Experian’s Don Robert as chairman
London Stock Exchange Group has appointed Experian’s Don Robert as chairman, a year after a bitter public dispute within the company’s boardroom.