London shopping: H&M Group unveils new vision for retail with opening of Arket brand on Regent Street August 24, 2017 H&M Group is set to unveil its new approach to retail tomorrow with the launch of its Arket brand in London. The store on Regent Street will sell clothes for men and women as well as homeware items in a format that is intended to appeal to shoppers looking for more than just products, but [...]
Petrofac chief executive Ayman Asfari has been sanctioned for insider trading on the Italian stock exchange August 24, 2017 Italy’s market watchdog has taken administrative sanctions against Ayman Asfari, the chief executive of Petrofac, over alleged insider trading. The Italian National Commission for Companies and the Stock Exchange (Consob) alleged that an executive of an Italian listed company passed inside information to Asfari, which Asfari subsequently acted on by trading in the securities of [...]
Brexit: The UK wants an early deal with the EU on data transfer and privacy, latest position paper outlines August 24, 2017 The UK will continue to comply with European laws on data after the country leaves in March 2019 and the EU should recognise this early on in negotiations, the government has said. In a fresh paper outlining Britain’s approach to negotiating the free flow of data across borders, the department for exiting the European Union [...]
ONS admits: “No evidence that non-EU students overstay their visa” August 24, 2017 There is no evidence to suggest students are outstaying their visas, the UK’s statistical watchdog has today confirmed. Of those whose visas expired in 2016 and 2017, some 69 per cent of the international students left the UK, while a further 26 per cent extended their visas for further study or for other reasons such [...]
It’s official: This is how long it takes for a London commuter to get angry August 24, 2017 As stations get busier and busier, and with engineering works often playing havoc with the trains, most of us want to make our journeys as short as possible. Not to mention, the average commute is about an hour long according to ONS stats, with many working in the capital travelling for longer. Now a survey [...]
UK immigration falls as rising number of EU workers return home after Brexit August 24, 2017 Immigration figures have dropped by almost a third in the last year, as EU workers begin to pack up and leave following the Brexit vote. The ONS says around 246,000 net long-term international migrants were in the country in the year ending March 2017, down 81,000 on the previous 12 months. The reduction was through [...]
Re-identification of personal data: The common crime you’ve never heard of August 24, 2017 There was a sense of inevitability to the Data Protection Bill announced by the UK government this month. What especially caught my eye was the new criminal offence: “of intentionally or recklessly re-identifying individuals from anonymised or pseudonymised data” punishable by an unlimited fine. It’s a welcome move that shines a spotlight on a relatively [...]
Ten reasons why true free trade is key to making Brexit a success August 24, 2017 Economists for Free Trade was re-launched this week by 16 of Britain’s leading economists to promote the case for true free trade, with zero tariff and non-tariff barriers (note this doesn’t mean zero standards) on imports, in the wake of Brexit. In the wake of the General Election result we feel there is a need [...]
More than 70,000 City managers could be held personally responsible for misconduct under the SMCR, according to Cleveland & Co August 23, 2017 The number of senior managers in financial services firms who could be held personally responsible for misconduct has increased to 72,000, according to new research from law firm Cleveland & Co. This comes after City watchdog the Financial Conduct Authority (FCA) announced it would broaden the scope of the Senior Managers and Certification Regime (SMCR) [...]
Apple’s driverless car project Titan has morphed into a staff shuttle bus as reports suggest a scaling back of ambitions August 23, 2017 Apple’s driverless car project, long-rumoured and only recently confirmed by boss Tim Cook, looks like it might be taking a back seat at the company. Its ambitions have been scaled back from a fully autonomous Apple car, to a shuttle bus for staff. Read more: “Hey Siri”: Now you can transfer money with just your [...]