Posts Categorized: Warren Fyfe

Banks create funds for firms hit by Carillion collapse

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Image copyright Reuters Three banks have said they will provide money to support small business customers who are struggling after the failure of Carillion. Lloyds is creating a £50m fund, while RBS is offering £75m worth of assistance and HSBC £100m. All were among the banks that stopped backing Carillion after the government refused to [...]

Superjumbo jet future secured by Emirates order

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Image copyright PA The Emirates airline has announced an order for up to 36 Airbus A380s. The $16bn (£11.5bn) deal amounts to a reprieve for the A380 after Airbus threatened to stop making the jet if it could not come to a deal with Emirates. Emirates is the only airline to have put the A380 [...]

Santander boss named in RBS scandal

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Image caption Nathan Bostock, pictured here in 2012, is now head of Santander The boss of one of the UK’s biggest banks has been named in Parliament as being responsible for RBS’s scandal-hit Global Restructuring Group (GRG). Nathan Bostock, who is now head of Santander UK, was named by the Liberal Democrat leader Sir Vince [...]

CBI criticises short-term policies to improve skills base

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Image copyright PA The latest measures to improve Britain’s skills base are not working, the CBI employers’ group has warned. The organisation, which represents the UK’s biggest companies, said programmes such as the apprenticeship levy had “alienated” firms. CBI managing director Neil Carberry criticised successive governments’ short-term approach to tackling the country’s skills shortage. “We [...]

Nestle sells Crunch, Nerds and other US brands to Ferrero for $2.8bn

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Image copyright Getty Images Nestle is selling its US sweets and chocolate business to Ferrero Group for 2.7bn Swiss Francs ($2.8bn; £2bn). The Swiss food giant said it was offloading brands such as Crunch, Nerds, Runts and Butterfinger to focus on other products. Italy’s Ferrero, which makes Nutella spread, Tic Tac and Ferrero Rocher, will [...]

Carillion was left with just £29m before going bankrupt

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Media captionThe Carillion collapse: What does it mean? Carillion was in talks with the government since October as part of a desperate bid to stave off collapse, according to the chief executive. Keith Cochrane says the construction giant was left with just £29m in cash by the time it went bust on Monday. Until the [...]

Airbus says A380 superjumbo production could end

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Image copyright EPA European planemaker Airbus has said it will stop making its A380 “superjumbo” if it does not get any more orders. Sales director John Leahy said Airbus would have to halt the programme if the plane’s main customer, Dubai’s Emirates airline, did not place another order. “But I’m hopeful that we work out [...]

Carillion collapse: Ministers hold emergency meeting

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Image copyright Reuters Cabinet ministers have concluded a crisis meeting about keeping vital public services going after the collapse of contractor Carillion. The construction giant, which provides services for schools, prisons and hospitals, has gone into liquidation. Cabinet Office minister David Lidington said the two-hour Cobra committee talks enabled ministers to air any concerns. Meanwhile, [...]

Discount chain B&M’s expansion pays off

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Image copyright BM Discount retailer BM’s rapid expansion in the UK appears to have paid off after it revealed strong sales figures for the past three months. In contrast to many of its rivals which are closing shops, BM opened 19 new shops in the 13 weeks to 23 December. It now has 569 stores [...]