Payday loan price cap comes into force but unintended consequences may already be starting to show January 2, 2015 The Financial Conduct Authority's (FCA) controversial cap on the cost of payday loans comes into effect today. The rate of interest and fees charged on payday loans will now be limited to 0.8 per cent per day. The changes are also meant to ensure that if a borrower defaults they will not need to pay [...]
Thomas Piketty rejects France’s Legion of Honour award January 1, 2015 France's rock star economist Thomas Piketty has turned down France's highest state honour because, in his view, it is not the role of the government to dispense these kinds of awards. The economist made waves in 2014 and topped the Amazon bestseller list with his book Capital in the 21st Century, which postulated that inequality [...]
EU VAT rule change could hike the cost of ebooks January 1, 2015 After weeks of deep discounts and mega-sales courtesy of Black Friday, Cyber Monday and Boxing Day, shoppers may be a bit miffed to find out that at the start of the new year they may have to pay more for their ebooks. As a result of a change in EU tax rules, digital products will be [...]
Rail companies vow to show cheapest tickets on eve of 2.2pc fare hike January 1, 2015 Britain's biggest train companies have agreed to sign up to a new code of practice to inform passengers of the cheapest possible deal for their journey. The move comes after a meeting held by the rail minister, Claire Perry. The code of practice is still a work in progress. Rail fares are set to rise [...]
2,300 City Link workers lose their jobs on New Year’s Eve January 1, 2015 Over 2,300 City link workers were made redundant on New Year's Eve after it was announced the company was going belly up. City Link's biggest shareholder Better Capital bought the company for the sum of £1 back in 2013. John Moulton, the founder and managing partner of Better Capital said: Of course, I wish it [...]
Business predicts 2015: UK wages to rise, Eurozone will avoid deflation and HS2 could be scrapped January 1, 2015 If 2014 was eventful in business, politics and the economy, this year is sure to prove just as eventful. A UK general election, geopolitical crisis, Eurozone woes and candidates putting themselves forward for the race to the White House will leave no shortage of news. With this in mind the influential business group the Institute [...]
What’s in store for 2015? City A.M.’s digital team make their predictions for the year ahead January 1, 2015