Westminster repairs could cost £5.7bn: With parliament’s palace falling apart, what are the options to save it? June 18, 2015 The Palace of Westminster is crumbling. According to leading architects, the UNESCO World Heritage site, which contains the House of Commons and the House of Lords, now suffers from “extensive” stonework decay, leaking roofs and corrosion – and that’s just the beginning. Dr Richard Ware, programme director for Palace of Westminster Restoration and Renewal, [...]
William Hill’s finance chief Neil Cooper trades in horseracing for housebuilding at Barratt Developments June 18, 2015 Bookmaker William Hill yesterday said that its group finance director Neil Cooper is leaving after five years to join Barratt Developments. Cooper is going back to his housebuilding roots, having previously held the role of finance director at Bovis Homes before joining William Hill. His contract has a 12 month notice period, but his actual [...]
TaxPayers’ Alliance research puts full national debt at £8.6 trillion June 18, 2015 The UK’S national debt would stand at £8.6 trillion if it were to include all of the government’s liabilities, according to new research from the TaxPayers’ Alliance (TPA). The group has today issued a report calling on the government to report the “real” national debt by changing the way it measures the figure. Read more: [...]
Switzerland maintains negative interest rates citing Greek concerns June 18, 2015 Negative interest rates and penalties for holding Swiss francs in cash will continue, the Swiss National Bank (SNB) said yesterday. Switzerland’s central bank is keeping the interest rate on sight deposits at minus 0.75 per cent, and leaving the target range for the three-month Libor unchanged at between minus 1.25 per cent and minus [...]
Nasdaq rises to record high on Fed interest rate hint June 18, 2015 The Nasdaq closed at a record high on Thursday, rising 68 points to 5,132.95. Read more: Nasdaq hits a record high as US stocks rise The 1.3 per cent rise was triggered by encouraging economic data released by the Federal Reserve yesterday which indicated interest rates could be raised for the first time since 2008 later [...]
Bank of England to launch new blog “Bank Underground” June 18, 2015 The old lady of Threadneedle street will lift up her skirt tomorrow with the launch of a new staff blog entitled "Bank Underground". The blog, named after the nearby tube station, will let Bank of England staff write editorials which support, as well as challenge, existing orthodoxies. Previously, Bank of England staff were limited to communicating with [...]
Sirius Minerals share price closes down 13.4 per cent on York Potash mine planning report June 18, 2015 Shares in Aim-listed Sirius Minerals closed down 13.4 per cent to 18.62 pence per share this afternoon, after a disappointing planning report on its York Potash mine application. Planning officers at the North York Moors National Park Authority said that the application has "a clear and fundamental conflict with both local and national policies". Sirius [...]
Dragon Oil share price dips slightly as shareholder Baillie Gifford unimpressed by £3.7bn takeover off from Emirates National Oil Company June 18, 2015 Dragon Oil's largest minority shareholder Baillie Gifford isn't impressed by Emirates National Oil Company's (ENOC) £3.7bn takeover offer for the oil explorer. The Edinburgh-based asset manager, which owns a 7.2 per cent stake in the company, said the offer "materially undervalues the company's strong growth potential and encourage shareholders to reflect on the growth infrastructure that is presently being [...]
Aldi fined over price-fixing in Germany June 18, 2015 Aldi is among the retailers fined by Germany's competition authority over price fixing. Read more: Bargain Booze is playing Aldi at its own game The discounter is one of seven food retailers and four producers which have been fined €151.6m (£108.9m) over price fixing on "some products". Andreas Mundt, the president of Germany's cartel office, [...]
Expats beware: Working abroad could lose you money in the long run June 18, 2015 Moving abroad for work can be a very appealing prospect – there are higher salaries, lower tax rates and an undeniable sense of excitement. But doing so can often lead to financial losses down the line, according to financial advice firm AES International. They calculate that many of the 78,000 Britons leaving the [...]