David Cameron: Rights of Scottish MPs should be limited following referendum results September 22, 2014 Prime Minister David Cameron is hosting talks to discuss limiting the rights of Scottish MPs in Westminster. At a summit held at Chequers, Cameron's country residence, senior MPs will gather to talk about the issue of devolution in light of the referendum result. On Thursday, 55 per cent of Scots voted to remain [...]
EE agrees to buy 58 Phones 4U stores September 22, 2014 EE has agreed to buy 58 Phones 4U stores after the retailer collapsed into administration last week. The deal, agreed with administrator PwC after talks over the weekend, will see the mobile operator take on 359 staff. The deal follows a similar move by rival network Vodafone which agreed to buy 140 Phones 4U stores [...]
Tesco overstated profit estimates by £250m prompting “comprehensive independent investigation” says chief Dave Lewis September 22, 2014 Tesco has warned investors that its profit outlook for the half year to August has been overstated by £250m. In its previous trading update on 29 August in which it issued a profit warning, the troubled supermarket expected half year results to be “in the region of £1.1bn”. However Tesco warned today it had identified [...]
Banks gear up to battle European Banking Authority over bonus cap September 21, 2014 Banks in Britain, Germany, Sweden and the Netherlands are preparing for another legal battle over bonuses, as the European Banking Authority (EBA) considers banning them from paying fixed allowances to staff. The firms’ lawyers are adamant that paying a regular allowance in cash or shares, based on the recipient’s role and reassessed annually, does not [...]
Bullion for you: Royal Mint sells gold coins online September 21, 2014 The Royal Mint is hoping to lure retail investors looking to buy into gold or silver with a trading website that it hopes will tap into demand for the precious metals. People will be able to buy both 24-carat gold and silver bullion coins from royalmintbullion.com at any time of the day and at prices [...]
Labour conference: Ed Balls unveils proposal to save £400m September 21, 2014 Ed Balls will set out Labour’s stall on the economy today in a headline speech at the party’s annual conference in Manchester. The shadow chancellor will promise a five per cent pay cut for all government ministers, as well as a plan to continue the one per cent cap on child benefit payment increases for [...]
Constitutional storm continues to brew as Miliband dithers September 21, 2014 DOWNING Street yesterday stepped into themiddle of the growing debate over devolution to reassure Scottish voters that the promise of further powers, made by David Cameron, will be delivered no matter what. Number 10 was forced to clarify the Prime Minister’s position after accusations from both Ed Miliband and Alex Salmond that Cameron is pedalling [...]
Business groups warn Labour on low pay plans September 21, 2014 Leading business organisations have warned that Labour’s minimum wage proposal risks turning the issue of low pay into a political football and threatening the economic recovery. The Federation of Small Business, Confederation of British Industry (CBI) and the British Chambers of Commerce yesterday all urged Labour not to use the minimum wage to score political [...]
Global ad spend set to reach over $520bn this year September 21, 2014 DIGITAL advertising will help grow the global advertising market by 5.3 per cent this year, higher than the 3.9 per cent growth seen in 2013, according to research released today by ZenithOptimedia. Total global adspend will reach $523bn (£320.5bn) over the course of the year, boosted by 17.1 per cent growth in internet advertising. “Internet [...]
Easygroup’s Stelios denies he exploited small investors after Jon Moulton comments September 21, 2014 Exclusive: Easygroup entrepreneur Sir Stelios today denied he was using his famous business name to exploit small investors buying shares in the new estate agency easyProperty. Last week, private equity guru Jon Moulton argued in City A.M. that the retail shareholders are getting a bad deal, but are being persuaded to invest by the association [...]