Payments regulator sets out vision for industry-wide approach to protect consumers December 16, 2016 Financial regulators have promised to stamp out payment scams which have cost Britons hundreds of millions of pounds. The Payment Systems Regulator (PSR), a special branch of the Financial Conduct Authority that focuses on banking payments, said today the financial services sector needs to do more to protect consumers. "In a short space of time [...]
These are the average London banker bonuses in 2016 (they’re not happy) December 16, 2016 The average London-based senior M&A banker landed a bonus of £80,000 this year, according to new research. But only 40 per cent were happy with their sweetener. And no wonder – the average was down 20 per cent from £100,000 in 2015. However, it was a different story for those working at the big banks. [...]
The nightmare’s nearly over for the Piccadilly line social media team: It’s just running with “minor delays” now December 16, 2016 Piccadilly line passengers have not been impressed with Transport for London (TfL) taking out half the fleet of trains for wheel repairs. It has been causing severe delays along the line since last month – and some turmoil for the poor people manning the Piccadilly line's Twitter account. But today, the account had some – relatively – good [...]
As the UK ambassador to the EU warns that a Brexit agreement could take a decade to reach, do we need a transitional deal? December 16, 2016 Iain Anderson, co-founder and executive chairman at Cicero Group, says Yes. When was the last time you jumped off a cliff? Never. Sounds like a very sound plan to me. As the UK looks to form new trading relationships with the EU and globally, it is vital that we don’t walk any economic plank. And [...]
Reckitt Benckiser’s Nurofen fine has been tripled by an Australian court after a consumer watchdog appealed December 16, 2016 An Australian court has tripled the fine imposed on Reckitt Benckiser over claims it misled customers over Nurofen to AU$6m (£3.5m). Shares in company behind Durex and Dettol were down 1.3 per cent in early trading. The British drug manufacturer was initially handed a $1.7m fine earlier this year, however, Australia's competition and consumer watchdog appealed [...]
Will it ever end? Southern rail services are axed for the third day this week as commuters vent fury at government December 16, 2016 All Southern rail services have been cancelled for the third day this week, after protests were held last night by fed-up commuters over the crisis. Members of the Aslef train drivers' union had met with the train company yesterday for a second day of talks at conciliation service Acas, but they ended without resolution. So today's [...]
Daily Mirror publisher’s shares soar despite 17 per cent decline in print advertising revenue December 16, 2016 Trinity Mirror, the publisher of the Mirror national newspapers and more than 150 regional titles, is expecting a 17 per cent drop in advertising revenue in the last quarter of this year. However, shares in the company jumped eight per cent on Friday morning after it reported a performance “marginally ahead of expectations”, with its [...]
Balfour Beatty sells streetlight project stakes to Equitix for £33m December 16, 2016 Infrastructure group Balfour Beatty is selling an 80 per cent stake in its street lights business for £33m. Funds managed by Equitix are buying the majority of Balfour's interests in five street lightling PFI projects. Balfour said the cash consideration of £33m would be retained within the group, and said the proceeds from the sale were [...]
A £17m paper trade: Johnston Press sells 13 East Anglia titles as part of debt reduction strategy December 16, 2016 The owner of the i newspaper has flogged 13 of its print titles in a "landmark" deal that will raise £17m. Johnston Press confirmed it will sell its East Anglia titles to Iliffe Media Limited having previously said it was in a late-stage discussions over the sale in November. Read more: Struggling newspaper group Johnston Press [...]
Editor’s notes: Forget about Murdoch, media dominance is now an online battle December 16, 2016 For a while this week it felt as if we’d slipped back five years, as Ed Miliband and Vince Cable dusted down their criticisms of Rupert Murdoch. 21st Century Fox’s bid for Sky saw the former Labour leader take to Twitter like a student protester. “Do we want Rupert Murdoch controlling even more of [the] [...]