Corbyn won’t stop until the government controls everything September 4, 2018 Back in November 2013, the general secretary of the Unite union, Len McCluskey, outlined what he believed was so refreshing about then Labour leader Ed Miliband’s platform. “What is particularly important is the underlying rationale for what Ed has proposed,” McCluskey boomed. “There are some things too important to be left to the market.” “Too [...]
Swiss law firm launches London office in bet on post-Brexit disputes spike September 4, 2018 Swiss dispute resolution law firm Lalive said today it is launching its first office in the City as it makes a bet on London becoming a more attractive arbitration centre post-Brexit. Marc Veit, a partner who is moving from the firm’s Zurich office to its new London base, said the City could be poised for [...]
Half a million UK SMEs fall victim to impersonation fraud September 4, 2018 Up to half a million small and mid-sized businesses (SMEs) are thought to have been preyed on by fraudsters posing as company bosses, data by Lloyds Bank has found. Impersonation fraud is when a fraudster is able to gather information on suppliers and business contacts to pose as a company chief to extract money. According to [...]
New WPP boss tries to make his mark as post-Sorrell era begins September 4, 2018 Newly anointed WPP chief executive Mark Read yesterday signalled a change to the swashbuckling approach of the former “king of adland”, Sir Martin Sorrell, with a focus on organic growth and divestments rather than further shopping sprees. Read was appointed yesterday with immediate effect to head the firm, more than four months after the abrupt [...]
Hot weather and high fuel prices drive consumer spending up in August September 4, 2018 Consumers spent an extra 4.5 per cent year-on-year in August, driven by hot weather and high food and fuel prices. Spending on petrol climbed to 10.9 per cent, while there was a five per cent increase in supermarket spending. Brits also flocked to pubs to enjoy the last of summer, spending 11.9 per cent more [...]
Russian banking giant drops US arm as geopolitical tensions mount September 3, 2018 Fragile political tensions between Moscow and Washington, D.C. took a turn for the worse this evening, as Russia’s second biggest bank revealed it has sold its New York-based business. Citing geopolitical reasons, Russian financial services provider VTB said it had disposed of its US broker arm VTB Capital, which is now an independent company called Xtellus [...]
London boss of foreign bank arrested over bribery investigation September 3, 2018 The head of an international bank’s UK arm has been arrested on suspicion of bribery, it emerged this afternoon. In comments made to a conference in Cambridge, the deputy director of the National Crime Agency (NCA)’s economic crime unit said that two senior individuals from a foreign bank’s London unit have been detained following a seven-month [...]
If Chequers is dead, a new battle looms: European Economic Area or Free Trade Agreement? September 3, 2018 Chequers, the Prime Minister's official country residence, was gifted to the nation by Lord and Lady Lee after the First World War. A stained glass window carries an inscription offering “this house of peace…as a place of rest and recreation” for Prime Ministers. Despite this noble intention, it's hard to imagine that Theresa May associates [...]
Bank of England governor Mark Carney to face grilling on future after Downing Street intervention September 3, 2018 Mark Carney faces a grilling on his departure from the Bank of England tomorrow after 10 Downing Street today insisted he is still on track to leave Threadneedle Street in 2019. Carney is currently set to lead the Bank until the end of June 2019, three months after the UK leaves the EU, but 10 [...]
Hobs Repro swallows Call Print’s assets to create UK-wide network of printing branches September 3, 2018 Hobs Repro has swallowed most of struggling competitor Call Print's assets, creating a UK-wide network of 24 printing branches, the company announced on Monday. Cash flow problems forced the scanning, stationery and printing firm into administration on Friday. It was sold the same day in a pre-pack transaction that had been marketed for several weeks. [...]