Barclays confirms investment bank chief executive Tom King will retire next month February 19, 2016 Tom King, the chief executive of Barclays's investment bank business, is retiring next month, the bank confirmed today. King's last day will be 4 March, according to Barclays. Commenting on his decision to retire, King said: "After nearly 25 years in my career, and having now seen the Investment Bank through a period of extraordinary change and [...]
US inflation rate continues to climb easing Fed fears over interest rate hike February 19, 2016 US inflation continued to climb in January to a rate of 1.4 per cent, beating analysts' expectations. The rise will abate fears that the Federal Reserve increased rates prematurely in December ahead of a period of market volatility and weak economic data. Read more: US inflation rate climbs to highest since 2014 Consumer prices increased [...]
Amazon to create 500 new UK jobs as it opens giant distribution depot in Coalville, Leicestershire – right in the middle of the UK February 19, 2016 When the Forth bridge was closed just before Christmas because of high winds, Scots joked that one of Amazon's UK distributions centre was north of it. But Santa's elves need worry no more, after Amazon announced the impending opening of a giant, 1m sq ft, distribution warehouse in Coalville, Leicestershire, this autumn. Coalville, just FYI, is smack-bang in the centre of [...]
Royal Mail increases first and second-class stamp prices… by a penny February 19, 2016 Brace yourselves: the Royal Mail has announced an increase to the price of stamps. It's hiking prices by… one penny. That means a first-class stamp will cost 64p from March, while a second class stamp will cost 55p. The price of large letter (that's up to 100g) first and second class stamps will also rise [...]
Credit cards at the ready: UK retail sales jump in January February 19, 2016 The UK's consumers put themselves into a buying frenzy in January, if official retail figures are anything to go by, with sales increasing 5.2 per cent on last year. And it seems Christmas was but a blip on consumers' radars: the quantity bought in the retail industry increased 2.3 per cent compared with December – [...]
UK public finances: Still no scope to loosen the fiscal stance in the Budget next month as January public sector net borrowing shows record surplus but falls short of expectations February 19, 2016 The UK recorded the largest public finances surplus for any January since 2008, but came in below expectations, indicating no scope to loosen the country's fiscal stance in the Budget next month. In January public sector net borrowing showed a surplus of £11.2bn, data from the Office for National Statistics showed, but was short of [...]
UK house prices: Sorry, but right now the UK can’t meet its target of building 240,000 homes a year, says House of Lords National Policy for the Built Environment Committee February 19, 2016 The UK won't hit the government's 240,000-a-year housebuilding target by relying on the private sector, according to a new report – which also warned so-called starter homes shouldn't be classed as affordable housing. The report, by the House of Lords' National Policy for the Built Environment committee, said the government must give local authorities and housing [...]
FTSE 100 index still volatile as days two of the European Council summit in Brussels looms – but Coca-Cola’s share price fizzes February 19, 2016 The FTSE 100 index opened with volatility this morning after having fallen below 6,000 mark yesterday as investors continued to look to Brussels The UK's blue chip index was trading 0.09 per cent down at 5,970 points in the early morning, having risen to 5,987 points as the market opened. "Having stalled on Thursday after large gains the [...]
Mobile World Congress 2016: Google’s guide to getting your business noticed on smartphone February 19, 2016 On Monday, marketers will flock to Barcelona for the annual Mobile World Congress – four days of presentations, networking and plenty of sangria. But what most will be looking for is how to convince prospective customers to engage with their brand on the most intimate device we own. Smartphones have become so ingrained in our lives that for [...]
Uber is losing $1bn in China every year due to “fierce competitor” Didi Kuaidi, says chief executive Travis Kalanick February 19, 2016 Taxi-hire app Uber is losing more than $1bn (£699m) a year in China as it battles against what it has branded a "fierce competitor", according to chief executive Travis Kalanick. Uber launched in China in 2014, competing against the country's largest taxi app, Didi Kuaidi. The California-based firm is available in more than 40 cities [...]