EU referendum: UBS chief executive Sergio Ermotti says London has “lost a lot of its attractiveness” but Europe would lose out in Brexit January 14, 2016 New regulations have made the City a less desirable place to do business, UBS group chief executive Sergio Ermotti has said. "London has lost a lot of attractiveness for sure," Ermotti told an audience in Canary Wharf tonight, pointing to the controversial Senior Managers Regime (SMR), which is set to to go into effect in March. “If you add the [...]
Why Labour lost: Internal party documents leaked to the BBC show that voters didn’t trust Labour on the economy and thought Ed Miliband was weaker than David Cameron January 14, 2016 Labour failed to win last year's General Election because voters didn't trust the party with the economy and thought Ed Miliband was a weaker leader than Prime Minister David Cameron, according to internal Labour party documents revealed this afternoon by the BBC. Then-interim Labour leader Harriet Harman commissioned a post-mortem last May, saying the party needed a "forensic, [...]
Oh Jez: Campaign starts to get Labour leader Jeremy Corbyn his dream bike for his birthday January 14, 2016 A crowdfunding project has been set up to give Labour leader Jeremy Corbyn something special for his 67th birthday – his dream bike. In order to secure the funds to buy the bike in time for the big day (26 May if you want to add it to your calendar), fans are being urged to [...]
Labour MP John Mann wants to charge £1000 membership fee to Labour party members who own houses worth more than £1m January 14, 2016 A leading Labour MP is proposing a so-called wealth tax to "save the Labour Party" from financial ruin. John Mann, the MP for Bassetlaw, said in a blog post on his website today that Labour should charge party members with properties valued at over £1m a "Labour wealth tax of £1,000 a year". "It will raise significant money and [...]
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 [...]