Business

Drug and medical suppliers say Brexit freight plans needed urgently

Editorial Bureau September 21, 2019

LONDON (Reuters) – Makers and suppliers of life-saving drugs and medical devices say they have still not been told by British authorities how their goods will be handled if the UK leaves the European Union without a deal at the end of October. Some larger pharmaceutical companies have

Business

Britain’s new renewable subsidies hit record low on the path to net zero

Editorial Bureau September 21, 2019

LONDON – Britain has awarded record low subsidies to twelve renewable energy projects capable of generating enough power for some 7 million homes, the government said on Friday, as a drop in the cost of offshore wind projects curbs the need for state support.  The bulk of the capacity will come from new offshore wind […]

Business

Rolls-Royce hit by further setback to fixing Boeing 787 engines

Editorial Bureau September 20, 2019

– Rolls-Royce will take longer than expected to fix problems with its Trent 1000 engine, frustrating efforts to get Boeing 787s grounded by the glitch flying again and knocking the British company’s shares. Rolls-Royce, whose engines power large civil and military planes, said on Friday it had sped up turbine blade replacement for some models, […]

Business

Japan economy minister says would welcome Britain to TPP

Editorial Bureau September 20, 2019

TOKYO – Japanese Economy Minister Yasutoshi Nishimura said on Friday he had expressed support for Britain’s participation into the Trans-Pacific Partnership in a meeting with Britain’s Secretary of State for International Trade Liz Truss earlier in the day. Nishimura also told reporters he thought free trade is important for the development of the world

Business

Ryanair warns UK pilots of losing benefits if strikes continue – union

Editorial Bureau September 19, 2019

– The British Airline Pilots Association (BALPA) said on Thursday that Ryanair pilots in the UK have been told by the airline that their benefits will be removed should they take part in strike action started on Wednesday. Ryanair members of pilots union BALPA announced a further seven days of strikes earlier this month, after […]

Business

Debenhams says rescue plan on track after court backing

Editorial Bureau September 19, 2019

– British department store group Debenhams said on Thursday that its company voluntary arrangement (CVA) will go ahead as planned after a court rejected challenges to the rescue plan. Once the country’s biggest department store chain, Debenhams has been hit by a sharp slowdown in sales, high rents and ballooning debt, plus a power struggle […]

Business

Real crunch from Saudi Arabia’s oil outage has yet to be felt

Editorial Bureau September 19, 2019

LONDON – Saudi Arabia’s ability to avert a global oil supply crunch will only become clear in a few weeks, because for now its crude held in storage can fill the gap and mask the scale of damage to its facilities, traders and analysts say. Riyadh says production will be back to normal levels in […]

Business

Britain’s Kingfisher will not handcuff new CEO on strategy

Editorial Bureau September 18, 2019

LONDON – Britain’s Kingfisher will give its new chief executive free rein to pursue whatever strategy he decides, even a possible break-up of the home improvement retailer, which has struggled to lift its earnings. Carrefour veteran Thierry Garnier is due to succeed Véronique Laury as CEO of Kingfisher, whose main businesses are B&Q and Screwfix […]

Business

Virgin Atlantic eyes over 80 new routes at expanded Heathrow

Editorial Bureau September 18, 2019

LONDON – Virgin Atlantic is hoping to add over 80 new routes to its network after a third runway is built at London’s Heathrow Airport including short-haul and domestic flights, the British airline said on Wednesday. Heathrow’s expansion is due for completion in 2026 after lawmakers voted strongly in favour of the third runway in […]

Business

With a backup to the backup, insulin makers say they’re primed for Brexit

Editorial Bureau September 18, 2019

LONDON – For two men trained as scientists, the bosses of Britain’s major insulin providers have had to become experts in ferry schedules, trucking laws and warehouse capacity as they seek to guarantee the supply of life-saving drugs through a chaotic Brexit. With Britain set to leave the European Union within weeks, Pinder Sahota at […]