RBS boss Howard Davies rejects Clive Lewis’ claims he misled parliament over GRG – and says Lewis may have done so instead February 8, 2018 The chairman of the Royal Bank of Scotland has written to MP Clive Lewis challenging the Labour frontbencher’s claims that the bank misled parliament – arguing the politician may have done so instead. On Tuesday Lewis revealed he had been handed an unredacted copy of the report into RBS’ restructuring unit GRG, saying the FCA’s [...]
Fifa has netted a fifth Chinese sponsor for the 2018 World Cup February 8, 2018 Fifa has netted a fifth Chinese sponsor for the 2018 World Cup in Russia, despite the country’s national team not qualifying for the tournament. Football’s governing body has named electric transportation firm Yadea as a regional supporter for this summer’s event. Yadea joins fellow Chinese companies China Mengniu Dairy, electronics firm Hisense, smartphone brand Vivo [...]
Pound sterling (GBP) jumps as Bank of England hints at earlier than expected rate hike February 8, 2018 The pound jumped against the dollar this afternoon, after the Bank of England gave a hawkish signal that rates would be hiked earlier than previously indicated. The Bank held the interest rate at 0.5 per cent but the MPC said monetary policy will “need to be tightened somewhat earlier and by a somewhat greater extent [...]
Jeremy Hunt thinks social media’s as bad for kids as smoking and obesity February 8, 2018 The health secretary Jeremy Hunt has claimed that social media can be as damaging to children as smoking or obesity in one of the starkest warning yet from the government that it is eyeing curbs on tech companies He likened the effects on young people’s mental health as “every bit as big a threat” as [...]
Sotheby’s unveils brilliant 100-carat white diamond worth over $30m February 8, 2018 The world’s rarest and most valuable white diamond is going on display at Sotheby’s in London today. The 102.34 carat white diamond is thought to be worth considerably more than the previous auction records for similar pieces which have reached as much as $30m. The reason for its sky-high value is that this piece is [...]
Bank of England signals markets to expect earlier interest rate hike to fight inflation February 8, 2018 The Bank of England today set itself up for a faster pace of interest rate rises this year, saying that it wants to tighten monetary policy to fight rising inflationary pressures. The Bank’s monetary policy committee (MPC) voted unanimously to keep interest rates on hold, with bank rate at 0.5 per cent, but nevertheless gave [...]
Rachel Reeves, chair of influential cross-party BEIS business committee, has ‘serious concerns’ about Melrose’s hostile bid for GKN February 8, 2018 Rachel Reeves, the Labour MP who heads an influential cross-party business committee, has this morning voiced her “serious concerns” about Melrose’s hostile bid for engineering giant GKN. In a letter to business secretary Greg Clark, Reeves – chair of the Business, Energy and Industrial Strategy (Beis) Committee – said that Melrose’s £7.4bn bid “raises serious [...]
There’s a fresh mission to woo foreign fintech startups to the UK after Brexit February 8, 2018 The UK is seeking to woo foreign fintech firms after Brexit with more than 50 startups set to head to London. The government and City institutions will host companies from more than 13 countries inside the European Union and outside the bloc, in a fresh bid to shore up the sector. Read more: 2017 was [...]
Compass share price rises after serves up good growth ahead of its Twickenham meeting February 8, 2018 Annual revenue at Compass, the world’s biggest catering company, will be at the top end of projections, the firm said today. The Chertsey-based firm was the stand-out performer on the FTSE 100. Shares rose almost six per cent, just in time to wow shareholders heading rugby’s Twickenham stadium for its annual general meeting. Revenue swelled [...]
ECB official: Bitcoin amd cryptocurrencies are like a gold rush with no gold February 8, 2018 A top official at the European Central Bank has warned that the rise of bitcoin and other cryptocurrencies is like a gold rush – “but there is no gold”. Yves Mersch, a member of the ECB executve board said the group’s views were “fully in line” with the views of the Bank of International Settlements, [...]