A £50bn Brexit bill could face the UK before it leaves the EU, according to the European Commission’s chief negotiator, Michel Barnier December 15, 2016 It could cost the UK £50bn to extricate itself from the EU if the European Commission’s chief negotiator has his way. Michel Barnier has indicated to multiple parties in the negotiation that the UK will have to pay between €50bn and €60bn (£50bn) in money still owed from earlier commitments, according to reports by Sky [...]
Brexit negotiations will take 10 years says UK ambassador to the EU as Theresa May is shut out of European Council summit dinner December 15, 2016 Trade negotiations over Brexit could take as much as 10 years, according to the UK’s ambassador to the EU. Sir Ivan Rogers privately briefed government officials that European diplomats believed a deal would not be completed until the middle of the next decade, according to the BBC. At a meeting of the European Council summit [...]
Bank Junction: All vehicles except buses and bikes to be banned from notorious collision spot in trial scheme from April December 15, 2016 Cars, taxis and all other vehicles except buses and bikes will be banned during weekdays at Bank Junction in an experimental scheme from next April. From Monday to Friday between 7am and 7pm only cyclists, pedestrians and buses will be able to move through the junction, which has become one of central London's most notorious [...]
Government blocks sale of rare Wedgwood vase December 15, 2016 The culture minister has blocked a rare Josiah Wedgwood vase from leaving the country. The “Basaltes” vase was sold in July to an unnamed bidder for almost half a million pounds. However, it is hoped that an alternative buyer from the UK can raise an equivalent amount of £482,500 (plus £16,500 VAT) in order to [...]
Petrofac’s share price suffers after warning of “challenging” trading year, despite profits being unaffected December 15, 2016 Petrofac's share price closed down two per cent today to 892.5p after the firm said a "challenging" year of deferrals and cancellations had hit order intake at its main engineering unit. The oil and gas services provider's stock traded down more than four per cent during the day, despite Petrofac's reassurance that full-year net profits [...]
BAE Systems to boost top UK cyber security talent as a third of graduates recruits to train in countering digital threats December 15, 2016 Almost a third of the 235 graduates joining BAE Systems next year will be hired to work in the firm's cyber security arm as digital threats to government and businesses soar. The blue-chip defence giant said the new emphasis in its graduate programme was prompted by an online survey it conducted with business heads, in [...]
Yahoo hack puts Verizon deal and Marissa Mayer under pressure December 15, 2016 Yahoo shares have dived more than four per cent in early trading in New York after disclosing a second major hack attack, twice the size of the previous one it revealed earlier this year, and which experts are calling the biggest hack in history. The revelations that user accounts were compromised come at a crucial time for [...]
Lloyd’s of London to set out plans for EU move in the new year December 15, 2016 Lloyd's of London will provide more insight into its Brexit preparation plans early next year, when it unveils the timetable for moving part of its business to another EU member state, with Ireland, France and Germany among the front-runners for its new foreign setup. The insurance giant is in the process of choosing a destination [...]
Heron Tower still standing as overseas lenders flock to financing deal December 15, 2016 The City of London’s tallest skyscraper has attracted new lenders to the UK commercial property market, as its financers reached their syndication target. ING and Landesbank Baden-Wurttemberg (LBBW) have now completed the syndication of their £400m loan against Heron Tower. The pair have syndicated over £200m, exceeding their 50 per cent target. It is understood [...]
Stansted Express disruption: Trains cancelled and delayed due to incident between Seven Sisters/Tottenham Hale and Broxbourne December 15, 2016 Trains running between Seven Sisters/Tottenham Hale and Broxbourne are subject to severe disruption this afternoon due to an incident on the track. Stansted Express services are experiencing delays and may be cancelled, with disruption expected to continue until 8pm. #EmergencyServices – Services running through these stations may be cancelled, delayed by up to 60 minutes [...]