Byron Hamburgers to get new big cheese chairman in former Morrisons boss Dalton Philips and new chief exec December 7, 2016 There will be a new chair at the table at Byron Hamburgers this week, when former Wm Morrison boss Dalton Philips will be appointed chairman of the up-and-coming restaurant chain. The appointment could come as soon as tomorrow, Sky News reported. It will be Philips' biggest corporate role since leaving the supermarket at the beginning [...]
Scots are not claiming a Brexit veto, court hears December 7, 2016 The Scottish government is not claiming a veto over the UK leaving the European Union, the Supreme Court heard today. James Wolfe QC, the lord advocate for the Scottish government, told justices that Scotland’s consent still matters however because of the effect of withdrawal from the EU on its citizens. This evening MPs overwhelmingly backed a motion [...]
Glencore and Qatar’s sovereign wealth fund snap up a 19.5 per cent stake in Russian state-controlled oil group Rosneft December 7, 2016 Glencore and Qatar's sovereign wealth fund have banded together to buy a 19.5 per cent stake in Russian state-controlled oil producer Rosneft. The FTSE 100-listed commodities group and the Qatar Investment Authority (QIA) will pay Russia €10.5bn (£8.9bn) for a fifth of the world's largest listed oil producer, Russian state media has said. Russia will [...]
MPs have overwhelmingly backed a motion calling demanding the government publish Brexit plans December 7, 2016 MPs have overwhelmingly backed a motion calling on the government to publish its Brexit plans, while also making clear support for triggering Article 50 early next year. In a vote in the House of Commons, MPs voted by 448 to 75 in favour of Labour's motion calling on the government to reveal information before triggering Article [...]
Metro Bank’s new partnership proves the Post Office’s importance December 7, 2016 One of Britain's newer financial institutions has team up with one of Britain's oldest and revered high street networks. Metro Bank today announced its business customers will be able to use the Post Office's 11,600 branches to deposit cash and cheques as well as obtain change. The tie-up will help the challenger to keep up with increasing [...]
Some CBI members would be tempted by customs union exit, says Fairbairn December 7, 2016 CBI director general Carolyn Fairbairn has told MPs that leaving the customs union would have “pros and cons” for many of her business group's members, with many tempted by a free hand in trade negotiations. Addressing Parliament's, Brexit select committee, Fairbairn said that while the CBI had not yet taken a view on leaving the [...]
Numis boss glosses over sterling’s demise after posting record revenue growth December 7, 2016 Stockbroker Numis raked in the cash after posting its best ever revenue growth over the last year. Despite 2016's shock events one of Numis’ two co-chief executives said he was feeling positive about next year. “We’re expecting M&A activity to pick up next year, after a relatively flat period,” Ross Mitchinson, co-chief executive, told City A.M., adding, “Brexit [...]
Tata and unions agree to rescue plan for the Port Talbot steel works December 7, 2016 Tata Steel has forged an agreement with the UK’s largest steel unions to rescue the Port Talbot steelworks and other sites, throwing a lifeline to 11,000 jobs provided that changes can be made to the British Steel Pension Scheme (BSPS). Senior union representatives met Tata Steel executives yesterday to hammer out the deal, which will [...]
Australia GDP growth goes down under zero for the first time in five years December 7, 2016 Australia’s economy contracted for the first time in more than five years in the third quarter, as investment in housing and by businesses dropped steeply. The quarterly growth rate of Australian gross domestic product (GDP) fell from 0.5 per cent in the second quarter to a contraction of 0.5 per cent from July to September. [...]
Icap charity day: Here are some pictures of celebrities on the phone December 7, 2016 The, er, goodwill was clearly flowing during Icap's annual charity trading day, in which celebs descended on the company en masse to raise cash for two HIV charities. Bigwigs including newsreader Jon Snow, Prince Harry and even X Factor's Honey G were on hand to raise money for charities Sentebale, the charity which runs camps for [...]