John McDonnell is going to Davos with “a warning for the global elite” January 24, 2018 John McDonnell is “going to Davos with a warning for the global elite” – that they stand in the way of change at their own risk. Labour’s shadow chancellor, who is attending the annual summit alongside Prime Minister Theresa May and US President Donald Trump, as well as the world’s richest people, will tell them [...]
Starbucks employees get a Trump bump to salary and benefits January 24, 2018 Employees of Starbucks are in line for bonuses, stock options and enhanced benefits after the coffee chain said it would make savings from US tax cuts. The move will cost more than $250m (£176.5m) and will be extended to 150,000 workers in the US. The company follows the likes of Walmart and Apple, which have [...]
MPs haul Carillion directors in for grilling over firm’s collapse January 24, 2018 Two of the Commons’ most powerful committees have ordered former Carillion directors – including ex-chairman Philip Green – to give evidence as part of a joint inquiry into the construction giant’s collapse. The Work and Pensions Committee, headed by Labour’s Frank Field, and the BEIS Committee, headed by his colleague Rachel Reeves, have launched a [...]
The gold price has risen to a fresh four-month high on a weak US dollar January 24, 2018 The price of gold has climbed to a four-month high today due to a weaker US dollar. The dollar has extended losses today following comments made by US Treasury secretary Steven Mnuchin at Davos that a weaker dollar is “good” for US trade. Gold rose more than one per cent to $1,355.20 a troy ounce [...]
Presidents Club: MPs line up to condemn “slimeball” event as Charity Commission confirms “assessment” into men-only fundraiser January 24, 2018 Female MPs have lined up to slam the Presidents’ Club for hosting a “slimeball” charity dinner, as the Charity Commission confirms it is “assessing” allegations. Conservatives including minister for digital and creative industries Margot James and former minister Maria Miller were among those to criticise the annual fundraiser after an undercover story by the Financial [...]
What to expect from Jerome Powell, US President Donald Trump’s new Federal Reserve head January 24, 2018 Jerome Powell has been confirmed as the new Federal Reserve chair after a vote of US senators last night. So what can we expect from the incoming head of the central bank? Powell, 64, is a multi-millionaire Republican with an estimated income of at least $20m, and a former partner of Carlyle Group. He trained [...]
Facebook hires Jerome Pesenti, an expert from UK startup BenevolentAI, to lead its artificial intelligence efforts January 24, 2018 Facebook has poached a top scientist from a UK tech startup to lead its artificial intelligence efforts. Jerome Pesenti is leaving BenevolentAI – a startup using machine learning technology to discover new drug treatments for diseases like motor neuron disease – to take on Facebook’s top job in artificial intelligence research. Read more: Facebook’s promising [...]
UK employment figures hit record high as wages rise by 2.5 per cent January 24, 2018 UK employment surged to a record high of 32.2m people in work between September and November 2017, according to figures from the Office for National Statistics (ONS), pushing the pound up by 0.7 per cent against the dollar. The employment rate, which is the proportion of people aged from 16 to 64 who were in [...]
Countrywide’s (CWD) share price rises as chief executive Alison Platt resigns after profit warning January 24, 2018 Alison Platt has resigned as chief executive of estate agent Countrywide, and will stand down from the board, after a shares slump last week off the back of a profit warning. The board has asked Peter Long to become executive chairman until a successor is appointed. Paul Creffield, previously managing director of commercial development, becomes [...]
The £14.8bn Crossrail project faces “increasing cost and schedule pressures” ahead of Elizabeth Line opening from December 2018 January 24, 2018 London’s transport commissioner has said the £14.8bn Crossrail project is facing “increasing cost and schedule pressures” with deadlines looming for the new railway, which is planned to open in stages from December. Among board papers published today, a report from Transport for London’s commissioner Mike Brown said: Overall the Crossrail project, which is now 90 [...]