US Federal Reserve raises interest rates to target rate of 0.5 to 0.75 per cent, with “gradual increases” to come in 2017 December 14, 2016 The US Federal Reserve has raised interest rates and set the scene for a further tightening of monetary policy throughout 2017. Rate-setting body the Federal Open Market Committee (FOMC) raised the target range for its federal funds rate to 0.5 to 0.75 per cent. The median expectation of FOMC members for tightening showed three further increases [...]
Brussels regulator sets out hurdles for London Stock Exchange merger December 14, 2016 The London Stock Exchange and Deutsche Boerse last night confirmed receipt of a statement of objections to their merger from the Brussels regulator. The European Commission is understood to have narrowed its focus on to concerns around derivatives clearing. In anticipation of these concerns, the London Stock Exchange said in September that it was exploring [...]
Rupert Murdoch’s 21st Century Fox set to make firm offer for Sky as early as tomorrow December 14, 2016 Rupert Murdoch’s 21st Century Fox is set to lodge a firm offer for Sky as early as tomorrow morning, City A.M. understands. Fox is not expected to stray from the £10.75-per-share value that it had previously agreed to informally with Sky. Read more: More pressure on Murdoch's Fox-Sky deal as pensions lobby group wades in [...]
These two top tech bosses have been named advisers to Trump December 14, 2016 Donald Trump has added top tech firepower to a group of business leaders who will advise him on economic matters. Uber boss Travis Kalanick and the entrepreneur behind Tesla and Space X, Elon Musk, have joined the President-elect's Strategic and Policy Forum which will involve meeting with the President frequently. Read more: Move over Trump and [...]
Business secretary Greg Clark says Nissan letter could be published December 14, 2016 The business secretary has today said he would be open to publishing a letter he sent to car manufacturer Nissan. When asked by the Business Committee if he would share the letter with its members, Greg Clark said he planned to release the letter once certain aspects which currently made it commercially confidential had passed. [...]
Early Christmas giveaway goes spectacularly wrong for Greece as EU suspends debt support December 14, 2016 The Greek government’s efforts to give its pensioners a big Christmas present has backfired spectacularly, after a key party in its economic bail-out suspended its debt relief programme. Greece’s government, led by Prime Minister Alexis Tsipras, had planned to spend €617m (around £517m) on a bonus payment to the poorest pensioners after protestors were teargassed [...]
Shortlist narrows for BBC chairmanship December 14, 2016 The shortlist for the new BBC chairmanship has narrowed to around six, with the government aiming to name the successful candidate early next year. Former Prudential chairman and Bank of England deputy governor Sir David Clementi, who was one of the architects of the new system under which the position has been created, is reported to [...]
The global e-cigarette market is set to be worth $32bn by 2021, and the UK market will grow to $5.67bn December 14, 2016 The global electronic cigarette market is set to be worth $32bn (£25bn) by the year 2021, while the UK market grows to $5.67bn (£4.46bn), a new report suggests. The "tremendous" growth rate of vapour products is due to increased popularity in North America, particularly the US, and European countries including the UK, a new report by Beige Market Intelligence [...]
New York Stock Exchange agrees deal to takeover fellow US exchange December 14, 2016 The New York Stock Exchange (NYSE) has agreed a takeover deal for the US’ National Stock Exchange (NSX). Founded in Cincinnati, Ohio, in 1885, the NSX was due to close at the end of this week. Read more: UK competition authority tells NYSE owner ICE to sell London-based Trayport But NYSE owner Intercontinental Exchange (ICE) [...]
It takes us more than an hour to unwind after work and even longer to switch off on holiday December 14, 2016 Well, good luck enjoying your holiday – it takes British workers 2.63 days of annual leave to switch off from work mode, new research suggests. The data also found it takes us a shocking 10.31 days of annual leave to feel able to return to work completely refreshed and relaxed. That's equal to more than half of the UK's statutory [...]