Christian Horner says Formula One must attract more fans to keep Red Bull in the sport March 2, 2017 Christian Horner, principal of Red Bull Racing, has said his team could quit Formula One if the sport fails to attract more fans. Speaking to City A.M. ahead of Red Bull’s 13th season in F1, Horner said the company "will pay a very keen watching brief to see what is going to be the future [...]
Weak income growth set to hit poor households with children, warns the Institute for Fiscal Studies March 2, 2017 Median household income will not grow at all for the next two years, the Institute for Fiscal Studies (IFS) has predicted. In a new report published today, the IFS pointed out that if the Office for Budget Responsibility (OBR)’s forecast for average earnings is correct, median household income will not grow and will be just four [...]
The SMMT says “anti-diesel agenda” could hinder progress made by car industry on cutting CO2 emissions March 2, 2017 Despite UK CO2 emissions falling for the 19th consecutive year, the Society of Motor Manufacturers and Traders (SMMT) has warned an "anti-diesel agenda" threatens to impede progress. The UK car industry beat CO2 targets for last year, with carbon tailpipe emissions falling to an all-time low in 2016. They were 1.1 per cent lower than [...]
Half of UK workplaces report mental health problems, according to the Institute of Directors (IoD) March 2, 2017 Over half of British employers (54 per cent) have been approached by staff suffering mental ill health, a new survey by the Institute of Directors (IoD) has revealed. Ninety eight per cent of business leaders surveyed said good mental health is important to the performance of their organisation. However, just 14 per cent have a formal mental health policy [...]
Real estate firm takes crucial step in bringing appeal against RBS for mis-selling March 1, 2017 A real estate company has taken a key step in appealing its case against Royal Bank of Scotland, claiming the bank caused it losses through interest rates swaps mis-selling and Libor manipulation. Property Alliance Group (PAG) has filed for permission for leave to appeal to the Court of Appeal, City A.M. understands. The Manchester-based firm lost its [...]
Liam Fox facing questions over demands that government contractors are a “cultural fit” on Brexit March 1, 2017 Liam Fox's international trade department is facing questions over procurement rules after demanding government contractors are a 'cultural fit' with Brexit plans. Lib Dem leader Tim Farron has written to civil service chief Jeremy Heywood to demand an investigation and an apology from ministers. Adverts from the Department for International Trade said companies must “be committed [...]
Ex-Lloyds Libor traders hauled in by fraud squad as part of its ongoing probe into manipulation of the benchmark rate March 1, 2017 A number of former Lloyds Banking Group traders have been quizzed by the fraud squad as part of its ongoing investigation into Libor manipulation. The Serious Fraud Office (SFO) has been probing the rigging of the benchmark rate since 2012. Now, Bloomberg has reported the prosecutor has called in a number of ex-Lloyds traders in [...]
Boots cuts 220 photo labs putting 400 jobs at risk March 1, 2017 Boots has announced it is closing 220 of its photo labs across the UK, including five in London, as weak demand for photo film services finally takes its toll. The closure of the in-store labs will put 400 jobs at risk, although a Boots spokesperson said the company would try to offer retraining and opportunities [...]
The House of Lords amended Theresa May’s Article 50 Bill to protect EU nationals March 1, 2017 The House of Lords has handed Prime Minister Theresa May's government its first defeat on the road to Brexit, amending the Article 50 Bill to include a unilateral guarantee of the rights of EU citizens to remain in the UK. Peers voted 358 to 256 in favour of a change to the Bill, which passed through [...]
Immigrants add £83bn of economic value to London March 1, 2017 Migrant workers in London with full time jobs each contribute an additional £46,000 net in gross value added (GVA) per year to the economy, research by PwC and London First reveals. A combined total of £83bn for all of London’s 1.8m migrant workers is added, making up approximately 22 per cent of the capital’s GVA. [...]