Ghosn received $9m in improper payments from Dutch joint venture, Nissan says January 18, 2019 Embattled car executive Carlos Ghosn received $9m (£7m) in improper compensation from a joint venture between Nissan and Mitsubishi, the firms have claimed. The car manufacturers said Ghosn was paid by a Netherlands-based joint venture without the knowledge of Nissan chief executive Hiroto Saikawa or Mitsubishi boss Osamu Masuko. Read more: Renault-Nissan executives planned secret Ghosn payout [...]
Retail sales fall as ‘suffocating’ Brexit uncertainty envelopes UK high streets January 18, 2019 Retailers suffered a weak end to 2018 as Brexit uncertainty saw shoppers spending less in the face of Brexit uncertainty, the latest data shows today. Sales fell 0.9 per cent month on month in December as shoppers kept their purses closed, the Office for National Statistics data revealed. Read more: All the high street giants [...]
Violent crime on the Tube rises 43 per cent in three years January 18, 2019 Violent crime on the London Underground has soared by more than 43 per cent over three years, according to police data. There were 2,838 reports of violence on London’s Tube network between November 2017 and September last year, compared to 1,980 incidents between November 2015 and October 2016, British Transport Police (BTP) figures show. Read more: [...]
Bonhill shares rise as it forecasts revenue boost from print and live events January 18, 2019 Media firm Bonhill saw its shares jump more than five per cent this morning after upgrading its full-year expectations. Bonhill, which specialises in business information, live events and data, today said its results for the nine months to the end of December will be ahead of market expectations. Read more: Everyman cinemas on track as punters [...]
Royal Bank of Scotland wants to speed up privatisation by buying back government shares January 18, 2019 The Royal Bank of Scotland (RBS) wants to buy back shares from the government in a bid to speed up the company's privatisation. The bank has proposed the move by tabling a special resolution that will seek permission to make off-market share purchases from the treasury. It will allow the lender, which is currently 62 [...]
Lloyds prepares for Brexit with Berlin banking licence January 18, 2019 Lloyds Banking Group has secured a banking license for its Berlin subsidiary as the Brexit deadline date approaches. The lender has previously run the office on a standard passporting licence, however all British banks with customers in the EU could lose the licence after March 29 therefore Lloyds is seeking further regulatory approval, Reuters reported. [...]
Britain is sleepwalking into the clutches of the exhaustion industry January 18, 2019 How well did you sleep last night? In fact, don’t answer. I can probably guess. If you’re reading this on your morning commute, it’s likely that you still haven’t quite woken up yet, and are waiting for that shot of caffeine to kick in. If you’re reading it before bed, however, know that the rays [...]
DEBATE: Are falling house prices in London a good thing? January 18, 2019 Are falling house prices in London a good thing? Daniel Hegarty, founder and chief executive of digital mortgage broker Habito, says YES. Provided it stops at a pricing correction and doesn’t go further, the drop in house prices is good news. London’s sky-high prices have left the average 34-year-old first-time buyer needing to borrow 13 times [...]
We can’t let financial inclusion become just another buzzword January 18, 2019 Over the last decade, the world has made significant progress towards universal financial inclusion. Today, traditionally underserved individuals have greater access to financial products than ever before. And with mobile networks reaching more than 90 per cent of the population in developing nations, digital payments – a key on-ramp to financial inclusion – are becoming [...]
Don’t hand control to the machines just yet January 18, 2019 Bad news: the robots are destroying jobs. The good news, however, is that the jobs they are destroying are their own. This week, a hotel in Japan was forced to lay off its 243 robots, after they ended up creating more work for their human colleagues. The Siri-like virtual assistants couldn’t answer the guests’ questions, [...]