Jones Bootmaker administration: Kurt Geiger and Endless eye up struggling shoe brand March 15, 2017 As Jones Bootmaker sits on the brink of administration, upmarket shoe retailer Kurt Geiger and Endless, the turnaround firm that owns Bathstore, are reportedly among suitors poised to swoop in to the 150-year-old firm’s rescue. The two are in discussions with advisers to Jones’ owners about deals that would potentially save hundreds of jobs, Sky News reported. [...]
Conservative election spending is under investigation by prosecutors March 15, 2017 Files from 12 police forces relating to allegations of electoral fraud have been handed to the Crown Prosecution Service. Prosecutors are investigating claims that more than 20 Conservative MPs broke stringent spending limits during the 2015 general election. If charged, they could be challenged by their political opponents to a rerun. Read more: By-election results: [...]
Donald Trump’s second travel ban has been blocked nationwide March 15, 2017 A federal judge in Hawaii has blocked Donald Trump's second travel ban nationwide with a temporary restraining order. The last-minute order put an emergency hold on the US President's ban, which was meant to take effect tomorrow. Trump's revised executive order removed Iraq from the list of countries barred from entering the US, among other changes. The new measures were designed [...]
Polymetal on a spending spree as it ramps up capital expenditure March 15, 2017 FTSE 250 metal mining company Polymetal has boosted its revenues by 10 per cent but it has also ramped up spending at the same time, the company has said in its preliminary results for the year ended 31 December 2016 The figures Polymetal said capital expenditure has risen by 32 per cent to $271m (£220.54m) [...]
Profits soar at landscape gardening specialist Marshalls March 15, 2017 Landscaping group Marshalls’ share price jumped up by as much as six per cent in early trading as the builders’ merchants and garden centre supplier reported bumper profits in its 2016 full-year results. The figures Profits before tax rose by 31 per cent to £46m from £35.3m last year on flat revenues of £396.9m, up [...]
Oxford University on a high as Star Trek star backs medicinal cannabis research March 15, 2017 Star Trek actor Sir Patrick Stewart has publicly endorsed cannabis research at Oxford University, after admitting to using the drug for medicinal reasons in America. Stewart has backed the UK’s first ever research project launched by Oxford University today which aims to explore the benefits of cannabinoid-based medicines for sufferers of arthritis like himself. Stewart [...]
The US Federal Reserve has hiked interest rates and signalled a slower pace of monetary tightening March 15, 2017 The US Federal Reserve lifted interest rates for the second time in three months last night, but sent the dollar and US Treasury yields tumbling with a cautious outlook on economic growth and future hikes. The federal funds rate was raised to 0.75 per cent-one per cent. However, the Fed stuck to its forecast of just two [...]
Government sets up new watchdog – Office for Professional Body Anti-Money Laundering Supervision – to get tough on money laundering March 15, 2017 The UK government is toughening up on money laundering by launching a watchdog to deal specifically with the crime. The Office for Professional Body Anti-Money Laundering Supervision, or OPBAS as it will be known for short, will sit within the Financial Conduct Authority and should be up and running by the start of next year. The [...]
Was Philip Hammond right to U-turn on his national insurance hike for the self-employed? March 15, 2017 Julian Jessop, chief economist at the Institute of Economic Affairs, says Yes. It is increasingly hard to justify why the self-employed should pay much lower national insurance contributions (NICs) than those who work for others. Nonetheless, this distortion should have been tackled as part of a fundamental rethink of the tax and benefit system, rather [...]
Southern Rail and Aslef have agreed to a fresh deal to end strikes, but union members could still reject it March 15, 2017 Southern Rail and train drivers' union Aslef have agreed to a fresh deal, finally resolving their row over driver-only trains. However, it's not quite over yet. Aslef members still need to vote on the new terms, and the result will be announced 3 April. The union's boss is recommending members accept the deal. Mick Whelan, general secretary of [...]