Insurers face £30m bill for Carillion claims
Insurance companies have estimated that £30m will be paid out in claims by companies owed money by the liquidated contractor giant Carillion, according to BBC News. Claims for between £5,000…
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GKN rejects hostile £7.4bn takeover bid from Melrose
The engineering giant GKN has fought off a £7.4bn hostile takeover from Melrose Industries, according to BBC News. Melrose, which specialises in turning around struggling businesses, claimed it could “deliver…
BoE says UK jobless rate will fall in 2018
The level of unemployment in the UK is set to fall faster than the Bank of England (BoE) and other economists had predicted, according to a statement from BoE policymaker…
Carillion enters liquidation
The construction company Carillion has announced that it will go into liquidation. Government-backed attempts to negotiate a deal to save the company failed, according to BBC News. The contractor is…
How will the EU’s GDPR affect the UK Economy?
General Data Protection Regulation (GDPR) is one of the EU regulations that the UK has committed to retain when the UK officially leaves the European Union. The regulation was adopted…
Hammerson retail centre owner to take over rival Intu in £3.4bn deal
Retail centre owner Hammerson is to take over its rival Intu in a £3.4bn deal. According to BBC News, the takeover will create the UK’s largest property company with a…
LSE CEO resigns, Chairman will not seek re-election
Xavier Rolet has resigned as CEO of the London Stock Exchange (LSE) and the organisation’s Chairman Donald Brydon will not seek to be re-elected, according to Reuters. The announcement comes…
Spending rate falls to lowest since 2014
UK shoppers were spending less in October than at any point in the last four years, according to a survey by payments provider Visa as reported by Reuters. Consumer spending…
Rise in UK consumer spending
UK consumer spending in September rose at the fastest rate so far in 2017, with the exception of a peak in April around Easter, according to Reuters. A survey revealed…
Monarch goes into administration
Monarch Airlines has gone into administration, following a failure to agree a renewal of its package holiday licence with the Civil Aviation Authority (CAA), according to Business Traveller. The carrier,…
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