Private investment can help Britain remain a world leader in humanitarian aid February 1, 2019 The home secretary’s new plan to “redouble” efforts to crack down on knife violence is a reminder of where the spending priorities of this government have been, and a chance to question where investment is most needed now. The UK’s ambitious aid target of 0.7 per cent of gross national income now accounts for £14bn worth [...]
DEBATE: With Italy now in recession, is the nation facing an economic crisis? February 1, 2019 With Italy now in recession, is the nation facing an economic crisis? Beatrice Faleri, economist and freelance writer originally from Italy, says YES. Less than a month ago, Italy’s Prime Minister boasted of a forthcoming “economic boom”. Yesterday, in a somewhat comical U-turn, he reported that, in fact, the country has entered an economic recession. GDP [...]
Copper output grows at Glencore as Katanga mine comes back online February 1, 2019 Copper and cobalt production at Glencore got a big boost last year, as its Katanga mine came back online. The Anglo-Swiss miner said that own-sourced copper production has grown some 144,000 tonnes to 1.45m, an 11 per cent increase on 2017. Read more: Church of England sells shares in miner Vale after dam disaster kills hundreds [...]
TSB falls to £105m loss after IT disaster sparks customer exodus February 1, 2019 TSB has swung to a £105.4m loss for 2018 after its IT meltdown, it revealed today, but claimed it has emerged stronger from the experience. The bank also lost 80,000 customers compared to 50,000 the year before, it said, after the IT upgrade fiasco saw executives hauled in front of MPs before boss Paul Pester [...]
MPs launch inquiry into impact of business rates on high street retailers February 1, 2019 An influential committee of MPs is launching an inquiry into the government's policy towards business rates, amid mounting pleas for tax relief from embattled retailers on the high street. Parliament’s Treasury committee has revealed today that it is set to scrutinise the impact of Downing Street’s business rates tax, which has been at the centre [...]
Campaigners clash over World Bank report into high tobacco taxes February 1, 2019 Campaign groups have clashed over a World Bank report promoting the benefits of tobacco tax amid claims high taxation drives people to the black market. The report into the global illicit tobacco trade outlines the benefits of high tobacco taxes, which it states improve public health, increase revenues and reduce the economic burden related to [...]
Brexit pushes one in three firms to plan move abroad, survey finds February 1, 2019 Nearly a third of companies surveyed by one of Britain's biggest groups may move parts of their operations abroad because of Brexit. Research by the Institute of Directors (IoD) found 16 per cent of its member had already initiated relocation plans, with a further 13 per cent “actively considering” a move. Among large businesses surveyed, [...]
Editor’s Notes: Why we cannot take no-deal off the table February 1, 2019 There has been no shortage of ludicrous Brexiter outbursts lately as they see their project imperilled by political reality. One Tory backbencher railed against the CEO of Airbus (who had warned against a no-deal Brexit) on the grounds that he is German. He even invoked the Second World War to make a point about not [...]
Amazon presents a mixed bag to investors after record holiday sales January 31, 2019 E-commerce behemoth Amazon predicted lower-than-expected revenue for the current quarter tonight, despite reporting record sales for its busiest period of the year. Revenue for the three months to 31 December rose 19.7 per cent year-on-year to hit $72.4bn (£55.1bn), boosted by events such as Black Friday and Christmas and topping consensus estimates of $71.9bn as polled [...]
Church of England sells shares in miner Vale after dam disaster kills hundreds January 31, 2019 The Church of England has sold its stake in Brazil's Vale after a dam operated by the miner burst, potentially killing hundreds of people. Around 300 people are still missing after a dam handling waste from a mine in the state of Minas Gerais collapsed late last week, unleashing a torrent of water and mud [...]