EU referendum: BT chairman Mike Rake and Barclays chairman John McFarlane issue warnings over Brexit January 14, 2016 Two of Britain's top businessmen have warned that the City will be worse off if the UK leaves the EU. Mike Rake, chairman of BT Group and WorldPay, and Barclays chairman John McFarlane – who also chairs TheCityUK industry group – told Bloomberg TV today that Brexit would be bad for British business. "There has already [...]
EU referendum: European Commission’s Jonathan Faull says Prime Minister David Cameron has a “good prospect” of getting a deal next month January 14, 2016 While negotiations still face difficulties, Prime Minister David Cameron has a "good prospect" of coming to a deal with fellow European Union leaders next month, a top European Commission official has said. But Jonathan Faull, who is leading the commission's negotiations with the UK, warned that the commission would not be willing to accept anything that threatened [...]
EU referendum: Conservative minister Chris Grayling says the European Union is disastrous for the United Kingdom January 14, 2016 A Conservative cabinet member has warned that remaining in the European Union (EU) under the current terms of membership would be disastrous for the United Kingdom, ahead of the upcoming In/Out referendum. Writing in the Telegraph, Chris Grayling said the EU is heading towards closer integration, a path which the UK "will not and should [...]
EU referendum: Alan Johnson says Brexit will cost UK car manufacturers £1.2bn a year despite Toyota commitment to keep building cars in Britain if UK leaves EU January 14, 2016 British car manufacturers could be hit with tariffs worth £1.2bn a year if the UK leaves the EU, a leading Labour MP has warned, just days after Toyota said it would keep making cars in Britain even if voters back Brexit. Alan Johnson, the Labour MP for Kingston upon Hull West and Hessle and chair [...]
European Commission postpones controversial decision on China’s trade status January 13, 2016 The European Commission (EC) has postponed its decision on whether or not to give China market economy status, a decision Beijing argues is already long overdue. The commission met today to discuss the plan, but instead of reaching a conclusion tabled it until the second half of 2016, announcing it would be liaising with European [...]
Firms overwhelmed by right to be forgotten requests January 13, 2016 Firms are already overwhelmed by right to be forgotten requests, as a new survey shows many are a long way from compliance with EU data protection legislation. Nearly half, or 46 per cent, of IT professionals have been asked to remove data in the past year, according to a study from Blancco Technology Group, surveying [...]
Kim Jong-uninvited: North Korea’s invite to Davos World Economic Forum 2016 revoked after nuclear tests January 13, 2016 A delegation of North Korean officials have been disinvited to Davos after the reclusive country started nuclear weapons testing. The original invite to the exclusive World Economic Forum – the first for the country since 1998 – has now been revoked. "There had been some convincing, encouraging signals out of the DPRK that there may be an opportunity for international [...]
Job cuts at BP show that Scotland would be in a financial mess if it was independent, claims Conservative MSP Alex Johnstone January 13, 2016 The decision by BP to cut 600 jobs from its North Sea business is proof that an independent Scotland would have been a "financial mess", a Member of Scottish Parliament has claimed. Conservative MSP Alex Johnstone said the announcement of job cuts was devastating for individuals and families, urging first minister Nicola Sturgeon to draw [...]
George stands by his yuan: Osborne to press ahead with plans to connect British and Chinese stock exchanges January 13, 2016 Chancellor George Osborne is pressing ahead with plans to connect the British and Chinese stock exchanges despite heightened market fears over volatility in the Chinese markets. Osborne used a speech in Shanghai last September to announce a new “feasibility study” into connecting the UK and Chinese markets, writing at the time in City A.M. that [...]
Think tanks urge people to be able to choose for themselves on sugar January 13, 2016 Controversial sugar tax proposals have been slammed by an economic think tank, following hints by Prime Minister David Cameron last week that the government could introduce a tax on sugary drinks this year. The Institute of Economic Affairs (IEA) has today published a report sharply criticising the plans, labelling them “regressive, inefficient and unpopular”. Lobby [...]