Spending on essentials has hit record highs February 7, 2017 Spending on essential goods such as food and fuel has reached record highs as inflation has started to hit the UK consumer's wallet. There was a 15.3 per cent jump in petrol spending year-on-year in January, according to Barclaycard, and a 2.9 per cent hike in supermarket expenditure. This was coupled with a 3.4 per cent [...]
Former trade minister Lord Green appointed President of the Institute of Export & International Trade February 7, 2017 Former trade minister Lord Green of Hurstpierpoint has been appointed President of the Institute of Export & International Trade (IOE&IT). Lord Green will be tasked with driving the strategy and vision of the Institute and boosting the UK's exporting scene, as Britain soon begins the process of leaving the European Union – with Theresa May [...]
An open and immigrant-friendly UK can stay in the top 10 as the world economy doubles in size by 2050 says a new report February 7, 2017 The world economy is set to double in size by 2050, with the UK hanging on to a spot in the top 10 if it can forge successful new trading links and an open attitude to immigration after Brexit, according to a new report. The UK will fall one place in terms of purchasing power [...]
The UK is losing out on foreign direct investment due to the uncertainty following Brexit vote February 7, 2017 The UK is losing out on foreign direct investment (FDI) due to the uncertainty following last year's Brexit vote, according to a new study by accountancy group UHY Hacker Young. The study, which looked at FDI inflows last year in 45 major economies, found the amount of investment fetched by the UK is lagging behind [...]
Lord mayor Dr Andrew Parmley launches 2017 City-wide mental health campaign to reduce stigma in the workplace February 7, 2017 Lord mayor Dr Andrew Parmley is today launching a 2017 City-wide mental health campaign aiming to dispel myths surrounding mental health in the workplace. The lord mayor of the City of London kicks off This is Me – in the City at Deutsche Bank – an initiative led by the Lord Mayor's Appeal charity to reduce the stigma [...]
21st Century Fox beats earnings forecasts thanks to US election boost February 6, 2017 The heated US presidential race provided a boost to 21st Century Fox as the Murdoch-controlled firm beat earnings forecasts. Revenues rose four per cent to $7.68bn (£6.2bn) for the three months ending in December, just short of forecasts. Operating income rose 27 per cent to $857m, compared to $674m for the same period a year [...]
Green belt reform drops off the agenda as ministers issue long-awaited housing proposals February 6, 2017 Ministers have steered away from a liberalisation of building on so-called green belt land, despite acknowledging the worsening housing crisis in many parts of the country. The government had been expected to introduce reforms to free up protected land, but proposals released today after months of delay have instead abandoned any reference to easing restrictions. Instead, [...]
Theresa May issues MPs with a fresh warning against “obstructing” Brexit February 6, 2017 Prime Minister Theresa May has issued MPs with a fresh warning against any attempts to frustrate or "obstruct" Brexit. Speaking ahead of a new round of House of Commons debates on the Article 50 Bill, May told MPs that the UK's European allies want to begin negotiations. "So do I and so does this House, which last week voted by [...]
Singapore Exchange in talks with Saudi Aramco to beat London and others to secondary listing spot February 6, 2017 The Singapore Exchange is said to be in talks with Saudi Aramco as it bids to co-host what is expected to be the world’s largest ever stock market listing. London, New York, Hong Kong and Japan are also thought to be in the running for the secondary listing spot of the oil and gas giant. Read [...]
Three buys UK broadband in £300m deal February 6, 2017 Mobile operator Three has acquired UK Broadband in a £300m deal. The deal comes just months after the European Commission blocked Three's parent company CK Hutchison from a £10.3bn takeover of O2. UK Broadband, the company behind home broadband service Relish, has 15,000 customers across the UK. Three will pay £250m for snapping up UK Broadband while a [...]