Business

HAMISH MCRAE: UK must play financial cards judiciously

The new adventure begins. If you wanted to choose a moment when the UK starts to direct its economy away from Europe and towards the rest of the world, this is as good as any. On Wednesday we get Rishi Sunak’s Spending Review, setting out the Government’s plans to direct the 40 per cent plus […]

Business

Outgoing Lloyds Banking Group boss set for shares windfall

The boss of Lloyds Banking Group is on track to receive a shares windfall just as he bows out of the lender. Antonio Horta-Osorio, who will step down from running the bank before July, has been awarded 1.4million shares so far this year through the ‘fixed share award’ payment scheme. The shares were bought through […]

Business

Facebook’s war with CMA could end in £3bn fine

Facebook has become embroiled in an explosive row with Britain’s markets watchdog that could result in a fine of up to £3billion. The social media giant has lost a legal case to overturn an order by the Competition and Markets Authority in June that demanded Facebook freeze a host of business activities while officials investigated […]

Business

Marks & Spencer discussed deal to buy Jaeger

Marks & Spencer is still having ‘informal’ talks to acquire British fashion firm, Jaeger Marks & Spencer discussed a possible deal to buy British fashion label Jaeger just days before the company collapsed into administration on Thursday. The high street giant’s chief executive, Steve Rowe, is understood to have taken a lead role in M&S’s […]

Business

Delta, WestJet scrap planned joint venture after US demands

Delta Air Lines and Canada’s WestJet said late on Friday they had scrapped a proposed U.S.-Canada joint venture after the U.S. government demanded changes the airlines insisted were “unreasonable and unacceptable”. Last month, the U.S. Transportation Department as part of its tentative antitrust immunity approval said it would require the carriers to remove Swoop, an […]

Business

If Janet Yellen becomes Treasury Secretary, she would make history again

While the next U.S. Treasury Secretary may make history as the first female to hold the role, she is a familiar face to the financial markets and welcome by progressives. Former Fed Chair Janet Yellen is emerging as a frontrunner on Biden’s short of list of potential picks which is among the most diversified in […]