UK inflation dips to 13-Month low in April, adding to Mark Carney’s interest rate puzzle May 23, 2018 Inflation in the UK dropped to its lowest levels since March 2017 last month, according to the latest figures from the Office for National Statistics (ONS). Consumer price inflation cooled to 2.4 percent in April, down from 2.5 percent this March. The drop in consumer prices has once again dampened expectations of a Bank of [...]
Uber to offer drivers medical cover and maternity pay as it gears up for court hearing on its future in London May 23, 2018 Uber is introducing a number of protections for its European drivers including sickness, and maternity and paternity payments, as it gears up for a crunch decision on its future in London. The company lost its licence to operate in the capital last September with Transport for London (TfL) ruling it not fit and proper to [...]
Marks & Spencer (MKS) share price rises as retailer promises to ramp up store closures as profits slump May 23, 2018 The City was braced for a slump in profits at Marks & Spencer, and a slump was duly delivered this morning as the retailer said it was “facing facts” amid “the continued migration of clothing and home online”. The company said it had to modernise the business to make sure it stays competitive, with “accelerated [...]
First Brexit, now Italy – the EU power balance is shifting May 23, 2018 Finally, over two months after they went to the polls, we have a new government in Italy, and a candidate to be the next Prime Minister. From a British perspective, 11 weeks might seem like a long time to form a new administration – although the 18 days it took Theresa May to agree a [...]
Fines for data privacy breaches increase by £1m in one year May 23, 2018 Fines for data privacy breaches for UK organisations breached £4m last year, analysis out today has shown. Research from PwC studied fines that had been handed out by the Information Commissioners Office (ICO) for data protection mishaps, finding that fines rocketed up by more than £1m from 2016’s figures, as 54 organisations were found to [...]
Investors’ mood the only factor that determines crypto value, study claims May 23, 2018 A study published by Warwick Business School claims that cryptocurrencies’ value are not driven by any specific economic factors but purely by the mood of the investors. Cryptocurrencies like bitcoin have been criticised in the past for their volatile price changes and unpredictable value patterns and, since the currencies are not linked to any national [...]
‘Commitments like this matter’: Michael Spencer hails CME-Nex deal as important post-Brexit symbol May 22, 2018 Michael Spencer, the founder of electronic trading software firm Nex Group, hailed the takeover of his business by the US’s CME Group as an important overseas commitment to a London facing Brexit today. The deal “will bring huge benefits to our clients, the market, and to the City of London through CME’s commitment to maintain [...]
MEPs left frustrated and angry after Mark Zuckerberg’s Brussels hearing May 22, 2018 MEPs were left visibly angry after Mark Zuckerberg’s appearance this evening left them none the wiser about the majority of their questions. Facebook’s share price climbed during the session as the Silicon Valley leader dodged questions by focusing on “themes” rather than specifics. The format – in which MEPs put forward their questions in a [...]
Wiltons review: Working Lunch at this Jermyn Street institution where Queen Victoria used to get her oysters May 22, 2018 Wiltons 55 Jermyn St, SW1Y WHAT AND WHERE? This old charmer celebrates its 275th birthday this year with a commemorative green plaque from Westminster City Council. Sitting on stylish Jermyn Street in Piccadilly, it currently boasts six Royal Warrants, but was famously Queen Victoria’s favourite place to get oysters. Expect plush booths with velvet cushions [...]
Theresa May and the government’s business as usual attitude on the UK economy isn’t good enough and must change May 22, 2018 Uncertainty over Brexit continues to dominate the news agenda, and has contributed to the anaemic growth of the UK economy. The businesses I speak to across the country are concerned – and clear that getting the best possible EU deal is of vital importance. However, these same firms are doubly concerned about inertia in Westminster [...]