Ivan Rogers warns it’s ‘crunch time’ as max fac customs option will not be accepted by Brussels June 12, 2018 The UK's former ambassador to the EU has rubbished both the government's customs proposals saying they would not fly "in the real world", warning: "We're heading for a major crunch". Ivan Rogers, who was one of the most senior civil servants until he resigned last year in frustration at Theresa May's handling of the Brexit [...]
Initial costs for HS2 civil works costs are £1bn over budget June 12, 2018 Costs for main civil works on the government's controversial High Speed 2 (HS2) project are coming in £1bn over budget. HS2 currently has a target for construction costs of £6.6bn, while its overall budget for the project is £56bn. The New Civil Engineer has reported that interim costs submitted by contractors are currently above the [...]
We talk to Tradeweb about how investing has evolved over the last 20 years June 12, 2018 It's a busy time for Tradeweb, the provider of electronic trading for fixed-income, derivatives, and exchange-traded funds, following a recent announcement that it would be adding an equity trading facility to its list of products. The company, which launched in 1998 as a marketplace for investors to buy and sell US Treasury bonds, will later [...]
What you need to know about the June Tube strike that could mean no Jubilee Line service and busier stations than usual June 12, 2018 A 24-hour Tube strike is still set to go ahead on Thursday due to a row over new timetable changes. The Rail, Maritime and Transport (RMT) union is holding a walkout on Thursday 14 June, pending further talks with Transport for London (TfL). Here's what we know so far about the likely disruption… Which line [...]
PwC faces record-breaking £10m fine over poor BHS audit June 12, 2018 Big Four accountancy giant PwC has been slapped with a record £10m fine from the Financial Reporting Council (FRC) for its work auditing high street retailer BHS, prior to the chain's sale for just £1. The PwC partner who conducted the audit, Steve Denison, is also facing a personal fine of £500,000 from the FRC relating [...]
These have been named the most expensive cities in the world for expats June 12, 2018 Europe dominates the rankings of the world's most expensive cities, according to new analysis out today from ECA International. European cities accounted for nearly a third of the most expensive spots around the globe for expatriates, according to ECA's cost of living survey. It compared a basket of like-for-like consumer goods and services commonly purchased [...]
Pounded: Poundworld collapse raises fears of worst year for retail since financial crisis June 12, 2018 Poundworld crashed into administration yesterday, putting more than 300 stores and 5,000 jobs at risk amid conditions described by analysts as the worst period for the high street since the financial crisis. The total number of retail store closures so far this year will total 1,398 if Poundworld is forced to shutter at least 100 [...]
Allez le Bleus! Lloyd’s of London tips France for world cup glory June 12, 2018 Insurance market Lloyd’s of London has predicted that France will win this year’s world cup, based on the insurable value of its team. The research by Lloyd’s and the Centre for Economics and Business Research shows the insurable value of the French team is £1.4bn, with England second on £1.17bn and Brazil third on £1.1bn. [...]
As UK house prices soar, first-time buyers struggle much more than mum and dad did June 12, 2018 A third of UK residents preparing to buy their first house are struggling to save enough money for a deposit – six times the proportion of people who bought their first house 20-30 years ago. That’s according to a 2,000-person survey carried out by self-storage company, Space Station, which asked 1,000 Brits who are currently [...]
Easyjet says a third runway at Heathrow will mean lower fares and new routes June 12, 2018 Easyjet has said fares would drop by around a third if Heathrow is given the green light to expand. The budget airline said the contentious expansion of the airport would allow low-cost carriers to enter the airport for the first time, resulting in increased competition that would drive down fares for passengers. While also allowing [...]