The influential Treasury Committee has launched a stinging attack on a probe into competition in retail banking November 2, 2016 An influential group of MPs has lashed out at a light-touch report into high street banking, days before the City watchdog publishes its verdict on the sector. Treasury Select Committee chair Andrew Tyrie said the failure of the Competition and Markets Authority to propose dramatic reform smacked of “complacency”, while Labour MP Rachel Reeves said the [...]
CBI seeks R&D investment boost in Autumn Statement to offset weaker GDP growth forecast November 2, 2016 The CBI is urging the chancellor to provide investment in infrastructure and research and development in the upcoming Autumn Statement, to offset its lower predictions of GDP growth. The business group has revised its GDP growth forecasts down from two per cent to 1.3 per cent for next year and it expects business uncertainty to [...]
Government-backed review calls for an end to all-white company boards November 2, 2016 Every FTSE 100 company board should have at least one director of colour by 2021, and each FTSE 250 Board by 2024, a government-backed report out today has recommended. The report reveals that out of 1,087 director positions in the FTSE 100, only eight per cent of positions are held by directors of colour, of which [...]
“Deeply concerned” Sadiq Khan orders investigation into Olympic Stadium costs November 1, 2016 London mayor Sadiq Khan has ordered an investigation into a £50m increase in the cost of converting the Olympic Stadium into the home of West Ham United. The London Stadium conversion was expected to cost £272m, but the figure has now risen to £323m. Read more: This is West Ham's "five point plan" to tackle [...]
Philip Hammond warns cyber attacks risk plunging UK into darkness as he sets out defence strategy November 1, 2016 Philip Hammond warned cyber attacks could plunge the UK into “darkness” and ground aeroplanes as he set out a new defence strategy today. The chancellor, speaking amid warnings about Russian-backed hacking, also told enemies that Britain would “retaliate in kind” to attacks, describing this as “the best deterrent”. Read more: Hammond to reveal Britain's new [...]
The government wants “flexibility but fairness” for Uber and gig economy workers November 1, 2016 Flexibility as well as fairness must be considered when it comes to workers rights in the wake of the landmark Uber driver employment ruling, the government’s digital minister has said. “Technology is changing employment patterns and it's important we keep up with that and it's important that employers take their employment law responsibilities seriously,” said Matt [...]
Should investors brace themselves for a big stock market fall if Donald Trump wins the US election? November 1, 2016 Adrian Ash, head of research at BullionVault, says Yes. If a friend is now waking up after missing 2016 in a coma, bring them up to speed gently: start with Leicester winning the Premier League at 5000-to-one. The UK’s vote to leave the EU was discounted even by its leading proponents right until the morning of [...]
Odds on Donald Trump winning US presidential election slashed November 1, 2016 Donald Trump’s odds of winning the US presidential election have been slashed amid an FBI investigation into Hillary Clinton’s emails. Trump’s odds with Betway are now 2/1 – his shortest for a month – behind Clinton on 4/11. Read more: John Kasich has voted for John McCain rather than Donald Trump Alan Alger of Betway [...]
The people of Burnley and Bradford have a point about the impact of immigration November 1, 2016 The scenes as the migrant camp was cleared in Calais once again provoked bitter divisions in British society. Metropolitan luvvies and liberals tweeted their virtue and called for no restrictions on immigration. In more traditional areas, there is active resentment at the possibility of even further inflows of foreigners. When New Labour decided in the [...]
For Richmond read Ribble Valley – Tim Farron is comparing December’s Zac Goldsmith by election to a famous Poll Tax win November 1, 2016 With a month to go before voting begins in Richmond Park, Lib Dem leader Tim Farron has compared the by election battle to a 25-year-old victory that helped bring about the end of the poll-tax. Speaking to City A.M. while travelling to Richmond for his first full day of campaigning in West London since the former [...]