Sadiq Khan “shocked” at business rate rises that threaten small firms February 21, 2017 London mayor Sadiq Khan has said he is "shocked" by the business rate rises set to hit the capital, and has told chancellor Philip Hammond the tax changes could wipe out firms across the city. He has warned that the changes to commercial property taxes, which will come into effect on 1 April, could force the closure [...]
HSBC reveals it’s being probed by the watchdog over money laundering compliance issues February 21, 2017 HSBC revealed this morning it is being investigated by the City watchdog over potential shortcomings in its anti-money laundering controls. The bank's 2016 results statement, in which it also revealed its reported profits before tax had slumped 62 per cent to $7.1bn (£5.7bn), said it was "the subject of an investigation by the Financial Conduct Authority [...]
Russian mining giant Rosneft agrees to a deal with the NOC to increase Libyan oil production February 21, 2017 Russia's top oil producer Rosneft has struck up an oil exploration deal with the National Oil Corporation (NOC) of Libya. The NOC is working to encourage more foreign investment and ramp up Libyan output, the NOC said in a statement. “We need the assistance and investment of major international oil companies to reach our production goals and [...]
Now maintenance workers have voted for strike action on the London Underground, says the RMT February 21, 2017 Maintenance workers on London Underground have voted for industrial action over claims of a breakdown in industrial relations, according to the RMT union. RMT's executive is now considering the result of the ballot, where 67 per cent voted in favour of a walkout and 88 per cent in favour of action short of a strike. There was [...]
Galliford Try commits to building more homes February 21, 2017 Galliford Try's share price edged upwards this morning after the housebuilder's profit jumped, and it said it had a confident outlook on the year ahead. The figures For the six months to the end of 2016, group revenue grew four per cent, up from £1.18bn to £1.24bn. Galliford's profit jumped 19 per cent, from £52.9m to [...]
A smooth Brexit could lead to tighter monetary policy according to the Bank of England’s Mark Carney February 21, 2017 A smooth Brexit process would lead to a faster rate of interest rate increases, according to the Bank of England’s governor, Mark Carney If the process of the UK leaving the EU moves “relatively smoothly to an increasingly clear end point” it would “be consistent with a higher path of interest rates,” Carney said, in [...]
The sky is the limit! EE reveals drone air masts that will save the day when disaster strikes February 21, 2017 Drones. While they've got a bit of a bad name for themselves among sectors of society, mobile firm EE said they are the answer to helping the emergency services step up to the plate when disasters strike. EE has revealed plans to use drones to keep rural parts of the UK connected by so-called "air masts". Read [...]
The end of road rage? Your car will soon be able to tell what mood you’re in – then play your favourite music to cheer you up February 21, 2017 Could this be the end of road rage as we know it? Ford might just have a solution in the works as it expects the cars of tomorrow to be able to pick up on minute changes in our facial expression and inflections in our speaking voice. So advanced systems, equipped with microphones and in-car cameras, could [...]
Wood Group’s profit plummeted due to a “very challenging” oil and gas market February 21, 2017 Wood Group's shares have tumbled after it reported a 62 per cent fall in its 2016 profit as weak oil prices causing producers to cut spending. The figures Shares in the FTSE 250-listed oilfield services company plummeted as much as 11 per cent in morning trading when it revealed its profit for the year ended 31 December 2016 dropped 61.8 [...]
London is the most congested city in the UK, but which is the road with the heaviest traffic jams? February 21, 2017 Yesterday, London was revealed to be the most congested city in the UK – and the data by Inrix has also named the capital’s most congested roads. The top five most congested roads in the UK are to be found in London, unsurprisingly, and two happen to be in the city centre. So the question [...]