Government ramps up planning for ‘no-deal’ Brexit December 18, 2018 The government is to implement its no-deal plans "in full" after cabinet agreed it should be the top priority in light of the uncertainty surrounding Theresa May's deal. Downing Street confirmed that cabinet ministers' respective departments would be expected to make no-deal planning their main priority, with departments such as the Home Office and the Department for Environment, [...]
Bumper rocket launch day blown off track as Elon Musk’s Space X and Jeff Bezos’ Blue Origin launches postponed until tomorrow December 18, 2018 Tuesday was set to be a day which had rocket enthusiasts glued to their screens, with four commercial space missions planned for launches in the United States – but three have been postponed until tomorrow because of strong winds. The rockets include one made by Elon Musk’s Space X and another by Jeff Bezos’ Blue Origin, but both have now [...]
Ofcom unveils new rules on spectrum auction amid mobile blackspot crackdown December 18, 2018 Ofcom today unveiled new rules to make operators improve mobile coverage as it vows to crack down on blackspots in rural areas. While 66 per cent of the UK has good 4G coverage, too many rural areas are left with “patchy or unreliable” mobile reception, Ofcom’s Connected Nations report found. Ofcom said complete 4G coverage in [...]
Banks could be banned from charging higher fees for unarranged overdrafts as part of crackdown on high cost credit sector December 18, 2018 The City watchdog has proposed radical changes to overdraft fees charged by banks as part of a crackdown on the high-cost credit sector. The Financial Conduct Authority wants to scrap fixed daily or monthly charges on overdrafts in favour of a single interest rate, it said today. Banks could also be banned from charging higher [...]
South Korea announces $3bn support package for embattled car part companies December 18, 2018 The South Korean energy ministry has unveiled a raft of measures designed to support the country's strained car parts industry, including a liquidity injection and improved subsidies for electric cars. The announcement follows the closure of a General Motors’ South Korean subsidiary factory earlier this year and a downturn in profits at Seoul-based car manufacturer Hyundai [...]
BT to shake up executive pay amid shareholder revolt over boss’s bonus December 18, 2018 BT today said it will rethink its executive pay strategy after shareholders fought back at the outgoing chief executive’s £2.3m pay packet. The embattled telecoms group said it was “disappointed” at the results of a vote on its annual remuneration report, which saw 34 per cent of shareholders vote against the proposed pay. Much of [...]
Angling Direct sales jump 32 per cent after bumper Black Friday December 18, 2018 Fishing specialist Angling Direct saw its sales soar in the four months to the end of November as customers rose to the bait of its Black Friday offers. Angling Direct reported a 31.5 per cent increase in sales to £14.6m, boosted by a 24 per cent rise in online sales and record Black Friday trading. [...]
Telit shares take a knock after FCA announces wider investigation into company announcements December 18, 2018 Shares in technology company Telit Communications have taken a five per cent hit after the financial watchdog announced it was broadening the scope of its investigation into the company. The Financial Conduct Authority (FCA) first announced its investigation into Telit, an internet of things solutions provider, in March. Telit notified investors that the watchdog was assessing a [...]
From tech to Trump – here’s what prompted the big market moves of 2018 December 18, 2018 From Brexit to trade wars, nothing has been plain-sailing about 2018. It’s been a year of peaks and troughs across all major markets, so let’s have a look at the big moves of the past 12 months. Tech in turmoil This was the year when the tech giants raced to become the first ever $1 [...]
Does the investment profession need to go further on diversity and inclusion? December 18, 2018 | City Talk The asset management industry wants to recruit from wider backgrounds, and this is good news. But there is still a long way to go on creating inclusive cultures. The fact that the asset management business is lagging behind many other industries on diversity and inclusion is not news. Last year’s diversity and inclusion benchmarking report, [...]