News from Business

How should I fund my help-to-buy home purchase?

How should I fund my help-to-buy home purchase?

Q I am currently in a process of securing a mortgage and help-to-buy equity loan on a new build with a purchase price of £420,000. My mortgage adviser has proposed that, to fund the purchase, I put down a cash deposit of £40,000 with a mortgage of...

Guardian, 16 March 2019
 
Boeing: What next after the 737 Max disasters?

Boeing: What next after the 737 Max disasters?

Two fatal accidents involving Boeing 737 Max jets have left the plane maker rushing to restore confidence in the safety of its fastest-selling fleet. As investigators work to determine the cause of the tragedies, the US regulator said the aircraft...

BBC, 15 March 2019
 
Patisserie Valerie black hole grows to £94m

Patisserie Valerie black hole grows to £94m

The accounting black hole at Patisserie Valerie has swelled to £94m, more than double a previous estimate, according to a new report by its administrators. After it fell into administration in January, the cafe chain was found to have overstated its...

BBC, 15 March 2019
 
Boeing to upgrade software on Ethiopian Airlines crash jet

Boeing to upgrade software on Ethiopian Airlines crash jet

Boeing will roll out a software upgrade for its grounded 737 Max aircraft in the coming weeks, following the Ethiopian Airlines crash that killed 157 people. The US planemaker expects the US Federal Aviation Administration to approve design changes to...

BBC, 15 March 2019
 
Patisserie Valerie accounts black hole now £94m, says KPMG

Patisserie Valerie accounts black hole now £94m, says KPMG

Forensic accountants now say the black hole in the accounts of fraud hit cafe chain Patisserie Valerie was as big as £94m – more than twice the size of previous estimates. Patisserie Valerie, a former stock market darling, plunged into administration...

Guardian, 15 March 2019
 

Heriot-Watt hosts construction trade visit from UAE

A delegation from the United Arab Emirates (UAE) is to arrive in Edinburgh tomorrow on a trade visit aimed at identifying opportunities across key challenges facing construction and enable Scottish companies to help develop products of the future. The...

Scotsman, 15 March 2019
 

Travelodge opens latest Glasgow site and plans five more for city

Travelodge has confirmed it is actively searching for a further 21 hotel sites across Scotland, as the budget chain launched its 45th hotel north of the Border today. The £5 million Glasgow Govan Travelodge, next to the Queen Elizabeth University...

Scotsman, 15 March 2019
 
Philip Green's Arcadia turnaround plan could trigger heavy job losses

Philip Green's Arcadia turnaround plan could trigger heavy job losses

Sir Philip Green is working on a plan to turn around his ailing Arcadia high street empire, which could trigger heavy job losses and nationwide store closures. The embattled billionaire is the latest high street business owner to explore a Company...

Guardian, 15 March 2019
 
‘Paisley from Paisley’ enjoys a resurgence with help from Hermès

‘Paisley from Paisley’ enjoys a resurgence with help from Hermès

There is a shawl of dove grey silk gauze from the early 1800s, another made up of bright harlequin squares, and a more modern, abstracted design using rich ochre dyes; these are a few of the centuries-long iterations of the world-famous Paisley...

Guardian, 15 March 2019
 
Interserve to go into administration after rescue deal rejected

Interserve to go into administration after rescue deal rejected

Government contractor Interserve is to go into administration after its largest shareholder, the US hedge fund Coltrane, led a rebellion against financial restructuring plans drawn up by the company’s lenders. The result of the vote, held at an...

Guardian, 15 March 2019
 
Interserve: UK outsourcing giant loses rescue vote

Interserve: UK outsourcing giant loses rescue vote

Outsourcing giant Interserve has failed to persuade shareholders to approve a rescue plan for the company. Interserve will continue to operate its contracts, but is expected go into administration later today. Its collapse is likely to prompt further...

BBC, 15 March 2019
 
JD Wetherspoon boss says no-deal Brexit will lead to lower prices

JD Wetherspoon boss says no-deal Brexit will lead to lower prices

The JD Wetherspoon chairman, Tim Martin, said no-deal Brexit tariff plans would lead to lower prices for consumers, as higher pay for staff dented profits at the pub chain. Martin has been one of the most outspoken business proponents of leaving the...

Guardian, 15 March 2019
 
Contactless card use surges as doubts ease

Contactless card use surges as doubts ease

One in three card payments are made using contactless technology as consumers appear to have cast aside any doubts of paying without a Pin. The number of transactions using contactless rose 31% in 2018 compared with the previous year, banking trade...

BBC, 15 March 2019
 
US SEC sues Volkswagen and ex-CEO over diesel scandal

US SEC sues Volkswagen and ex-CEO over diesel scandal

The US Securities and Exchange Commission is suing Volkswagen and its former chief executive, accusing them of defrauding investors by making “deceptive” claims about the environmental impact of its cars. The regulator said that from 2007 until 2015,...

Guardian, 15 March 2019
 

Earnings tumble at Wetherspoon’s despite sales rise

Profits at JD Wetherspoon tumbled in the first half of the year as rising sales failed to offset an increase in costs at the pub group. Pre-tax profits in the six months to 27 January fell 18.9 per cent to £50.3 million as costs rocketed, especially...

Scotsman, 15 March 2019
 


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