Five reasons delivery drones won’t take off December 2, 2013 The news is buzzing with hopes for Amazon's drone-based delivery service – Prime Air. But skies in the UK will remain quieter for the time-being. Here's why. 1. Regulation John Moreland, a spokesperson for the Unmanned Aerial Vehicles Systems Association (UAVS) says that regulator fears over drone technology still hold back development. The Civil Aviation [...]
EU regulator says ratings agencies’ poor practices may mean repercussions December 2, 2013 Standard and Poor's, Fitch and Moody's – the "Big Three" credit rating agencies (CRAs) that score EU government debt – could face further action after failing to fix "inadequate practices from the past". The European Securities and Markets Authority (ESMA) published the results today of its probe into how the three agencies compiled ratings on [...]
Hope for drone-based delivery service in the UK where 143 UAV licenses have been issued December 2, 2013 While Amazon's drone-based Prime Air delivery service is held up by FAA rules in the US – 143 licenses for drones have been already been grantsd in the UK. With licenses granted for vehicles weighing below 7kg, 7-20kg, and over 20kg, drones could one day replace the traditional postie. As City A.M.'s managing editor Marc [...]
Thames Water plans 11 per cent price hike as it submits business plan December 2, 2013 Thames Water wants a real terms price hike of 11 per cent between 2015 and 2020 according the company's business plan submitted to Ofwat on Monday. Thames Water cited the need for £8bn of investment in the Thames Tideway Tunnel and the wider network as reasons for the price increase. Under the proposed plans the [...]
Lord Blackwell appointed as Lloyds chairman December 2, 2013 Lloyds banking group has announced the appointment of Lord Blackwell as chairman of the group, with effect from 3 April 2014. Blackwell replaces Sir Winfried Bischoff in his role at the state-backed bank. Blackwell has been a non-executive director of the group since June 2012, and is a member of its audit and risk committees. [...]
HS2 could be latest UK project to see Chinese investment December 2, 2013 HS2 could see funding from China, it's emerged, as Li Keqiang made a surprise announcement whilst holding a joint news conference with David Cameron in Beijing. The Chinese premier said that the two countries have reached agreement when it comes to co-operating on nuclear power, too. “The two sides have agreed to push for a [...]
EU hammers Chinese solar panels with new tariffs December 2, 2013 The European Union has confirmed that it will be imposing duties on Chinese solar panels that will apply for two years starting 6 December 2013. The Commission also confirmed its decision to accept the undertaking with Chinese solar panel exporters applied at the beginning of March. The Commission said in a press release: The imposition [...]
The S&P 500 is on its longest winning streak in over a decade December 2, 2013 As US markets continue to enjoy the Fed's quantitative easing, the S&P 500 has risen for eight consecutive weeks in the aftermath of the temporary government shutdown. S&P rises for 8 weeks in a row, its longest winning streak in a decade. — Jamie McGeever (@ReutersJamie) December 2, 2013 Fed chairman Ben Bernanke shocked [...]
PlayStation 4 becomes fastest selling console in UK history December 2, 2013 Sony's latest console offering, the PlayStation 4 (PS4), has stripped the mobile PSP platform of its title as the UK's fastest selling console. The PSP held that record for eight years, according to GfK Chart-Track. That device saw early sales of 185,000 units when released in 2005. Sony enjoyed more than 1m of PS4 sales [...]
France seeks to liberalise draconian Sunday trading laws December 2, 2013 A government commissioned report released on Monday has recommended a partial liberalisation of France's notoriously strict Sunday trading laws. The report, written by former head of La Poste Jean-Paul Bailly recommends increasing the number of Sundays mayors can authorise trading from five to twelve. A review of current laws was also recommended to resolve confusion [...]