At the top since the turn of the millennium: Admiral chairman steps down January 25, 2017 Admiral non-executive chairman Alastair Lyons will retire in April after nearly 17 years in the role. "It has been fantastic to have been on the journey with Admiral since the management buy-out, a journey which I am confident will continue to deliver sustained success," said Lyons. The way the business has developed has been astonishing [...]
Discovery in price spat with Sky: Channels to be axed at the end of the month January 25, 2017 Sky customers are set lose 12 premium channels including Eurosport and Animal Planet after Discovery Channel revealed details of spat with the media giant. Negotiations have broken down over a long term contract for Discovery's TV channels to be shown on the Sky platform in the UK. If unresolved by the end of the month, the channels will [...]
Is the Department for Transport preparing to take control of Southern Rail trains? January 25, 2017 The Department for Transport is reportedly considering seizing control of the controversial rail franchise including Southern Rail as one of a range of options to improve service. A report from Rail Business Intelligence magazine had suggested that Whitehall officials were preparing a number of plans, including splitting off Southern from Govia Thameslink Railway, as well [...]
RBS to be hit by multi-billion-pound charge for mis-selling mortgage-backed securities January 25, 2017 RBS is set to be hit by a new multi-billion-pound charge for mis-selling mortgage-backed securities. A formal statement confirming the charge could come as soon as today with RBS directors expected to discuss the move in a board meeting this week. The charge could be between $3bn (£2.4bn) and $4bn, sources told Sky News last night. The [...]
Minister reassures MPs: Green Investment Bank will not be sold to an asset stripper January 25, 2017 Energy minister Nick Hurd today reassured MPs the Green Investment Bank (GIB) will not be sold “to an asset stripper”. The government has come under pressure in recent weeks over the choice of Macquarie as the preferred bidder for the £4bn sell-off. The criticism came after it was reported that the Australian investment bank is [...]
St Helena aims for tourism boost despite airport woes January 25, 2017 It became famous in the 1800s as the home of the exiled French Emperor, Napoleon Bonaparte, but in recent times St Helena has attracted more attention for the cost of its new airport. Last year it was revealed that the Department for International Development had spent £285 million on an airport at a site that [...]
Uber hasn’t destroyed jobs according to a new study – although taxi driver wages have suffered January 25, 2017 Uber has created more jobs than it has destroyed, according to a new study, despite regularly being characterised as one of the villains of the so-called sharing economy. The number of self-employed drivers rose by 50 per cent in cities where Uber started operations, more than compensating for jobs lost in the taxi sector, researchers [...]
No haggis for Trump as 45-year import ban remains in force January 25, 2017 Not even half-Scottish US President Donald Trump will be able to tuck into an authentic haggis this year as the 45-year ban on haggis imports continues. Trump will be amongst the roughly 10 million Americans that claim Scottish heritage deprived of their national dish on the 258th birthday of Robert Burns. The US Department for [...]
Could vanity be your downfall? Skiers warned of selfie injuries January 25, 2017 Millions of Brits heading to the mountains to play in the white stuff this winter have been warned that taking an innocuous selfie could ruin their holiday. A startling 51 per cent of people have injured themselves while trying to photo their exploits – and 28 per cent of these have been carted off by medical services [...]
Bank of England governor Mark Carney warns fintech’s democratic revolution poses risk to financial system January 25, 2017 The fintech revolution poses significant risks to the stability of the financial services sector, according to Bank of England governor Mark Carney. Fintech’s assault on the business models of traditional banks could increase liquidity risks for the broader financial system, Carney warned in a speech delivered at a G20 conference in Wiesbaden, Germany. “The opening [...]