Audit watchdog’s new powers signal shift February 15, 2016 The Financial Reporting Council (FRC) is still dealing with the fallout from the financial crisis. The accountancy regulator has attracted criticism recently for its decision not to investigate KPMG over its role in the collapse of banking giant HBOS in 2008. Chief executive Stephen Haddrill is in the middle of drafting a response to the chairman [...]
Treasury is saddling British businesses with £29bn in extra costs from National Living Wage (NLW), apprenticeship levy and business rates – Confederation of British Industry (CBI) February 15, 2016 British businesses will be hit with a bill for almost £30bn in additional costs as a result of government policies including the National Living Wage (NLW) and the apprenticeship levy. The flagship schemes, along with the existing business rates regime, will cost British businesses around £9bn every year by 2020-21, according to new analysis out [...]
Brexit would cause flight costs to soar, travel bosses Carolyn McCall of EasyJet and TUI’s former chief Peter Long warn February 14, 2016 The cost of flights would go up if Britain left the EU, two top travel bosses have warned. EasyJet chief executive Dame Carolyn McCall said the EU was behind the fall in air fares across Europe over the past two decades, and that before its creation air travel was "reserved for the elite". Writing in the Sunday Times, [...]
EU referendum: The five Labour heavyweights backing David Cameron on EU deal renegotiations February 14, 2016 Five Labour heavyweights have backed the Prime Minister in his attempts to renegotiate Britain's membership of the European Union. Neil Kinnock, Margaret Beckett, David Blunkett, Jack Straw and Hilary Benn have signed a letter in support of the Britain Stronger in Europe cross-party campaign group. The five supported Britain leaving Europe in the referendum of 1975. [...]
EU referendum: United States wants a strong UK to stay in a strong EU, says US secretary of state John Kerry February 13, 2016 The United States has a "profound interest in a strong UK staying in a very strong EU", according to the US secretary of state John Kerry. Speaking in Munich, Kerry said that recent events had "overwhelmed" many Europeans, but that America is confident that Europe will emerge stronger. Read more: Cameron – UK will not "retreat from the [...]
Russian prime minister Dmirtry Medvedev warns of “new cold war” after airstrikes on Syria February 13, 2016 The prime minister of Russia has warned that the world is edging closer to a "new cold war" after European leaders accused his nation's airstrikes on Syria of attacking the civilian population. Dmirtry Medvedev told the 52nd annual Munich Security Conference that a lack of cooperation in Syria was pushing Europe to where it was "40 [...]
Trident allows the UK to punch above its weight, says US defence secretary Ash Carter February 13, 2016 If Britain wants to maintain a significant role in the world it must keep its nuclear weapons, the US defence secretary has warned. Speaking to the BBC, Ash Carter said it is an "important part of the deterrent structure of Nato", allowing the UK to punch above its weight. Read more: Scottish Labour vote not to [...]
MPs’ expenses: Speaker of the House of Commons John Bercow expenses revealed February 12, 2016 Speaker of the House of Commons John Bercow has spent thousands of pounds just on entertaining fellow MPs and foreign politicians since April 2012. According to the Press Association, which accessed information under the freedom of information act, Bercow has spent £1,600 on lunch for his Lithuanian counterpart, £1,023 for beeswax candles (an obvious necessity) [...]
EU referendum: Prime Minister David Cameron comes up against opposition from finance ministers on “single rule-book for the financial sector” February 12, 2016 David Cameron's draft EU deal has come under pressure from the French and Dutch finance ministers over legal protection for the City of London, as Europe prepares for the EU summit next week in Brussels. French finance minister Michel Sapin has warned that nothing in the deal can be allowed to stand in the way of further Eurozone integration, [...]
EU referendum: Find out where your data is – or a Brexit could prove costly February 12, 2016 As Britain considers its position in Europe, UK businesses are paying increased attention to the implications of a Brexit on their operations. Until now, most have been preoccupied with political and economic factors, and companies’ contingency plans have largely reflected this. But what are the implications for one of our most important business tools – [...]