Shadow MPC: The Bank of England should hold interest rates amid hesitantly positive economic data March 22, 2018 Interest rates are widely expected to be kept at their current 0.5 per cent level today, as the Bank of England (BoE)’s monetary policy committee (MPC) meets to deliver its verdict. In the second MPC rate review of this year, due to be announced at midday, the BoE’s policy makers are likely to credit only [...]
Facebook’s Mark Zuckerberg breaks his silence on Cambridge Analytica: “We made mistakes” March 21, 2018 Mark Zuckerberg has broken his silence over Facebook’s data scandal with Cambridge Analytica, saying the company “made mistakes”. The social media giant’s boss had been notably absent since allegations were made that data firm Cambridge Analytica mined millions of Facebook users’ personal data over the weekend. Today, in a Facebook post, Zuckerberg said: We have [...]
The US Federal Reserve has raised interest rates and signalled two more hikes this year March 21, 2018 The US Federal Reserve has raised its benchmark interest rate by a quarter of a percentage point and signalled two more hikes in 2018 as it pointed to a strengthening US economy. The Fed raised rates to a range of 1.5 per cent to 1.75 per cent, as was widely expected, and newly appointed chairman [...]
US and EU launch trade talks over Trump’s steel and aluminium tariffs March 21, 2018 The US and EU have agreed to launch discussions on issues of trade, including on President Donald Trump’s steel and aluminium tariffs, officials have said. EU trade commissioner Cecilia Malmstrom met US secretary of commerce Wilbur Ross yesterday as the bloc scrambles to secure an exemption from Trump’s planned tariffs on metals imports. In a [...]
Tesla share price rises as stockholders approve Elon Musk’s $2.6bn compensation plan March 21, 2018 Tesla shareholders have approved a proposal to award chief executive Elon Musk with stock options valued at $2.6bn (£1.8bn) at a special meeting today. The windfall does not include a salary or cash bonus, so it relies on a rise in the company’s market value over the next decade. Shares in the company rose 3.42 [...]
New Look’s creditors approve deal to reduce rents and close stores March 21, 2018 New Look’s creditors this afternoon approved a deal to reduce rents and close 60 stores, likely leading to hundreds of job losses at the retailer. The fashion chain has secured a company voluntary agreement (CVA) with landlords, and said up to 980 staff will be made redundant in a raft of store closures. The CVA [...]
London’s financial system needs to be better prepared ahead of Brexit March 21, 2018 The UK’s biggest challenge for our negotiations as we leave the European Union is to ensure that our economy is intact and properly prepared for the future. The City of London has an important role to play in helping to create a sustainable economy and the Brexit decision certainly presents some serious challenges. A solution [...]
PMQs: Theresa May insists no government links to Cambridge Analytica as she calls allegations “very concerning” March 21, 2018 The Prime Minister has defended the government against claims it has links with Cambridge Analytica, the company at the centre of a storm over its use of data in the 2016 US Presidential elections. Ian Blackford, SNP’s leader in Westminster, grilled Theresa May over her connection with the firm, which is battling against accusations it [...]
BT candidates face “Crystal Maze” challenges as part of firm’s 1,300 new job push March 21, 2018 BT is to use a virtual reality version of “Crystal Maze” challenges to separate the wheat from the chaff as part of a new hiring spree. The telecoms giant is to create more than 1,300 graduate and apprenticeship jobs in the UK. It claims to be one the first companies in Britain to use such [...]
Waitrose chocolate avocado sells out at some stores as Easter treat becomes best-selling own-brand egg March 21, 2018 Waitrose’s avocado-shaped chocolate egg has become the fastest-selling own-brand Easter egg in the supermarket’s history. The £8 treat has even sold out at some stores as customers rushed to get their hands on one. Waitrose is now restocking its branches in preparation for the weekend. “Our chocolate avocados have been a phenomenal hit with customers [...]