RBS could be fined tens of millions of pounds by the FCA for 2012 computer failure November 3, 2014 The Royal Bank of Scotland (RBS) will face tens of millions of pounds worth of fines from the Financial Conduct Authority (FCA) for IT blunders back in 2012. In October, RBS was told by the FCA it must pay an amount that would be a record for IT failures. In 2012, 7m customers were locked [...]
Eurozone manufacturing: UK outstrips Europe in the battle of the PMIs November 3, 2014 Manufacturing data published this morning confirmed what many already suspected: manufacturing activity in the UK is outstripping the Eurozone and has opened an economic gap on China. For October, the Eurozone’s manufacturing purchasing managers’ index (PMI) was at 50.6, while China’s was at 50.4. Both a hair’s breadth from the 50 point mark that separates [...]
North Korea sets up Ebola quarantine as West Africa suffers on November 3, 2014 You might think the world's most reclusive country would be a pretty safe bet when it comes to the risk of an Ebola sufferer turning up there – but North Korea isn't taking any chances. In fact, the country's famously exclusive tourism industry looks set to be hard-hit by the outbreak. Tourists have been banned [...]
Check out Transport for London’s snazzy new uniforms for tube staff, designed by Wayne Hemingway November 3, 2014 Transport for London (TfL) has updated uniform for London Underground staff. They're pretty snazzy. The uniforms, designed by Wayne Hemingway, are the first update in a decade – and are also the first time there has been a uniform "specially tailored" for female staff. Hemingway said the experience had "challenged us all". The "various mix [...]
London Mining Marampa mine sold through pre-pack deal November 3, 2014 London Mining's Sierra Leona mine Marampa has been sold through a pre-pack structure, meaning a number of creditors will loose out. The deal, which was announced just over a week ago, sees Timis Corporation take on London Mining's assets and all staff will continue to be employed. When it entered administration last month, [...]
Liz Peace: Three things you didn’t know about the British Property Federation CEO November 3, 2014 1 Peace is a massive fan of Star Trek and certainly doesn’t hide the fact she’s a Trekkie – she has a poster of Scotty on her office wall. 2 Before she joined the MoD she worked in a chocolate factory during university holidays. She was told that she would lose the taste for chocolate [...]
Boris Johnson welcomes report calling for more Commonwealth immigration November 3, 2014 The UK is missing a huge economic and cultural opportunity because of anachronistic and counterproductive restrictions on immigration from the Commonwealth, easing pressure created by its ageing population. So concludes a new report published today by think tank the Commonwealth Exchange, with a foreword written by London mayor Boris Johnson. Johnson wrote: We should welcome [...]
Pound rises as UK manufacturing bounces back November 3, 2014 Having fallen for the past three months, activity in the UK’s manufacturing sector picked up unexpectedly in October, taking analysts by surprise. Markit’s purchasing managers’ index for manufacturing jumped to 53.2 last month, figures out this morning showed. Any reading above 50 denotes expansion in the sector, although in September it fell to [...]
Which country has the highest murder rate? Hong Kong remains one of world’s safest despite Rurik Jutting arrest for grisly deaths November 3, 2014 After 29-year-old British man was arrested in Hong Kong when police found the bodies of two women in his apartment, Hong Kong must be in shock. It is not just the grisly details of the case – one of the women was found decomposing inside a suitcase – but the fact that Hong Kong is [...]
Betfair share price rises as bad luck boosts revenues November 3, 2014 A punt on Betfair paid off this morning, after shares rose 2.98 per cent to £12.46 in early trading on strong second-quarter results. The company said revenues rose 22 per cent to £119m in the three months to the end of October, driven by "favourable sporting results" – an upsurge in punters making losing bets [...]