Striking Post Office workers have set up a Santa’s grotto complete with live reindeer as part of a protest December 19, 2016 If you've got a soft spot for Santa's favourite animal, you might want to head on over to the department for business. For striking Post Office workers, members of the Communications Workers Union (CWU) have set up a Santa's grotto, complete with live reindeer, outside the government's business department headquarters. Read more: Everything you need to [...]
Anti-money laundering rules need a rethink to protect ailing correspondent banking sector, says Financial Stability Board December 19, 2016 The international body responsible for keeping an eye on financial stability has today warned anti-money laundering rules need a rethink to help support a significant but shrinking sub-sector of the banking industry. In its latest progress report on the decline in correspondent banking – essentially the middlemen who can provide services, such as wire transfers or on [...]
Eurozone wage growth rebounds as manufacturing and industry post strong gains – but Italian wages shrink December 19, 2016 Wage growth across Europe rebounded in the third quarter, in a sign the Eurozone economy may finally be responding to the European Central Bank’s (ECB) ultra-low interest rates. The cost of labour in the Eurozone rose by 1.5 per cent, while workers’ pay in the broader EU was driven higher – by 1.9 per cent [...]
Harvard and University of California psychiatry professors weigh in on President-elect Donald Trump’s ability to lead December 19, 2016 President-elect Donald Trump may not be short of critics a month before his inauguration, and now it seems the medical community is weighing in on his leadership style too. Three leading professors of psychiatry have warned that Trump's "grandiosity" and "hypersensitivity" to criticism deserve a psychiatric evaluation (as opposed to, say, angry tweets and Saturday Night Live [...]
Uber eyes even more expansion as it announces partnership with Indonesia’s second biggest taxi firm December 19, 2016 Uber's showing no sign of slowing up in its expansion. The ride-hailing app company has announced a partnership with Indonesia's Express Transindo Utama, the country's second biggest taxi operator. The deal will give Uber access to some of Express's 11,000-strong fleet of taxis and 17,000 drivers. It should also help the firm meet regulations on [...]
Sadiq Khan unveils Brexit panel featuring Lord Mandelson and Santander chair to advise on getting “best deal” for London December 19, 2016 Sadiq Khan has recruited an assortment of business leaders, investors and academics in an effort to boost London's Brexit credentials. The mayor announced a new Brexit Expert Advisory panel to advise him on the risks, challenges and opportunities for the capital in the wake of June's vote to leave the European Union. Members include Sir George Iacobescu, [...]
Britons set to get stingier this Christmas as the average spend per person on presents falls by £50 December 19, 2016 If you already thought 2016 had been a less-than-ideal year, we have some more bad news for you – and this time it's about your Christmas presents. As the curse of 2016 carries on working its magic, the average spend on gifts per person for friends and family has declined by 11 per cent this [...]
Iran’s 100 jet deal with Airbus to be signed in days as A380s are dropped December 19, 2016 The deal is very nearly done. Iran has finalised an agreement with Airbus to acquire 100 jetliners, a senior official said today. It will be signed in the coming days, deputy roads and urban development minister Asghar Fakhrieh Kashan said. "We have finalised negotiations with Airbus and any day we will be able to sign the [...]
Aim-listed miner Atalaya brings the original Rio Tinto copper plant to target production December 19, 2016 The Aim-listed group that took over the original Rio Tinto copper mine in southern Spain has brought it up to its target output in "record time", Atalaya Mining said today. Atalaya's Proyecto Riotinto reached its target capacity of 9.5m tonnes per annum (mtpa) during a single run of 10 consecutive days this month, treating on average 28,685 dry metric tonnes [...]
German business confidence is at its highest level since February 2014 December 19, 2016 Germany business confidence rose in December to hit its highest level in almost three years, data has revealed today. The Ifo economic institute, based in Munich, said its its business climate index, based on a monthly survey of some 7,000 firms, rose to 111.0 this month, from 110.4 in November – beating Reuters' forecast of 110.7. [...]