Advisers tell MPs that BHS needed to be sold by Arcadia group to give it any chance of surviving as a business May 25, 2016 One of the advisers on the sale of BHS has today told MPs that the company needed to be separated from the Arcadia group for it to have a chance of continuing as a viable business. Speaking in front of the Work and Pensions committee and the Business, Innovation and Skills committee, Mark Byers, partner at [...]
George Osborne rated as a natural leader by just two per cent of the British public, according to survey May 25, 2016 Just two per cent of Britons believe that chancellor George Osborne is a natural leader, and just over one in 10 believe he would be up to succeeding David Cameron as Prime Minister. The public slammed Osborne in a survey by YouGov for the Times, which revealed the chancellor's ratings contrast poorly with that of former London mayor Boris Johnson. [...]
Revealed: The sums behind Khan’s backing of the Garden Bridge May 25, 2016 London Mayor Sadiq Khan has claimed that cancelling a controversial Garden Bridge across the Thames would cost more than completing the project. Speaking at Mayor's Question Time for the first time since his election, Khan said that almost £40m of public funds have already been spent by the Garden Bridge Trust. Of a total of [...]
Not fired: Lord Alan Sugar has just been appointed the government’s enterprise tsar… again May 25, 2016 The slightly bent pointing finger of the government has singled out Lord Alan Sugar to be its enterprise tsar, for the second time – with the aim of creating 3m new apprentices by 2020. The Department of Business, Innovation and Skills (Bis) said it had appointed Sugar, a man who is famous for the catchphrase "you're fired", to [...]
Retail Acquisitions may not have been fully aware of the BHS pension position when it first explored buying the retailer May 25, 2016 BHS' pensions fund trustees today told MPs that Retail Acquisitions may not have been fully aware of the pension scheme position when it began the process of buying the business. Speaking in front of the Work and Pensions committee and the Business, Innovation and Skills committee, Chris Martin, chair of the BHS Pension Fund Trustees, pointed [...]
This group of economists is scandalised by the IFS’ “£40bn fiscal black hole” Brexit report May 25, 2016 The Institute of Fiscal Studies (IFS) is generally regarded as pretty impartial, so the fact it issued a strong warning on the potential impact of Brexit – warning it could leave the Treasury with a £40bn fiscal black hole – has surprised some. Not least the esteemed members of Economists for Brexit, which this morning slammed the report. [...]
Greek debt crisis: Eurozone strikes deal with Greece for €10.3bn bailout May 25, 2016 The Eurozone hammered out a €10.3bn (£7.9bn) bailout deal with Greece in the early hours of this morning. European finance ministers hailed the deal as a breakthrough, given that it carries with it a commitment from the International Monetary Fund (IMF) to return to taking part in the bailout. The IMF coming back on board [...]
RMT’s vote for a strike over Night Tube will be Sadiq Khan’s first test as mayor of London May 25, 2016 Well, that parade has been been well and truly rained upon. At the start of this week, TfL announced – to widespread cheers – that the long-promised Night Tube would (finally) launch in August. That promise remains on track, but yesterday the sense of triumph was darkened by the prospect of more strikes. The RMT, [...]
Hinkley Point crisis deepens as experts warn that there’s “zero possibility” of the project being finished by 2025 May 25, 2016 The government is facing fresh calls to reconsider its plan to build two nuclear reactors at Hinkley Point in Somerset, with experts warning that there’s “zero possibility” of the controversial project being finished by 2025. The concerns come after Vincent de Rivaz, the French utility giant’s UK boss, failed to assure parliament's energy and climate [...]
New broadband entitlements “embarassing” to tech entrepreneurs says Lib Dem peer May 24, 2016 New plans to introduce a right to high-speed broadband service for citizens and businesses fall “embarrassingly” short, according to the Liberal Democrats. Last week's Queen's Speech saw the Government pledge to introduce a new Broadband Universal Service Obligation, giving citizens and businesses the legal right to a fast broadband connection of at least 10Mbps a [...]