China told to combat debt problem or face banking crisis September 22, 2016 Ratings agency Fitch has added its voice to mounting concerns about financial instability in the Chinese economy. Hot off the back of a Bank for International Settlements (BIS) report which suggested the banking system was crippling under the most excessive credit burden faced by any country in the world, Fitch has told the Chinese authorities [...]
Mario Draghi tells banks to stop complaining about negative interest rates September 22, 2016 Mario Draghi has issued a robust defence of his negative interest policy in a conference designed to address threats to financial stability across the Eurozone. The era of ultra-low interest rates has been cited as one reason for the woes of banking sectors across the world, since lower rates squeeze the profits of financial institutions [...]
Picks of the day: The three stories to read today September 22, 2016 Need inspiration for a bit of snappy conversation or an on-point after work drink? We’ve done the legwork for you, and put together the top stories people are talking about today in bite-sized form, just to make your life that bit easier. Check out our three at three. Mary Berry quits Bake Off Having lost [...]
Hanjin thrown multi-million-pound lifeline to rescue stranded cargo September 22, 2016 The troubled shipping firm Hanjin has been thrown a multi-million-pound lifeline to rescue the stranded cargo which is trapped on its ships across the world. It comes after the firm's bankruptcy had what analysts have described as a "Lehman-like freeze" effect on the industry. The Korea Development Bank, the lead creditor of Hanjin Shipping, said that it will [...]
Sir Martin Sorrell’s WPP makes French investment as part of Brexit vote push in Europe September 22, 2016 UK-based advertising giant WPP announced an investment in a French media group today as part of its post-Brexit vote mainland Europe push. Les Nouvelles Editions Indépendantes SAS (LNEI) was founded in 2009 in Paris and has investments in media titles such as the Le Monde newspaper, the French Huffington Post and Vice France. Read more: WPP chief [...]
Burgundy wine price hike more likely as survey estimates yields could fall by more than a quarter September 22, 2016 The likelihood of wines from the Burgundy region of France facing a price hike has increased further after a survey has found yields could dip by up to 27 per cent for some producers. A survey among winegrowers in Burgundy suggested "a dip in yields of 20 to 27 per cent compared to the average", [...]
Kier Group has so far shrugged off the Brexit vote September 22, 2016 Kier Group's shares rose as much as 8.13 per cent to 1,384.00p per share this morning, after the construction and infrastructure firm said it had emerged unscathed from the Brexit vote. The figures Kier Group posted a pre-tax loss of £15m in the year ended 30 June due to one-off costs, such as those relating to its acquisition [...]
House prices under threat in Tower Hamlets due to ballooning development and Brexit September 22, 2016 House prices could be set to fall in Tower Hamlets due to the rapid development of the borough, according to new research. Data collected by property consultancy Propcision shows Tower Hamlets makes a decision on more planning applications than any other London borough, and approves far more developments than other boroughs, which could lead to a downwards [...]
Barristers need to keep tabs on what tech means for their profession, warns chairman of the Bar September 22, 2016 Legal eagles need to think long and hard about what exactly technology means for the future of their profession, the chairman of the Bar has cautioned. Speaking yesterday at the International Bar Association conference in Washington, Chantal-Aimee Doerries QC warned certain aspects of the modern working world, including commercial pressures, red tape and political problems as well as technology, risked undermining [...]
Southern rail workers to take 14 days of strike action from next month September 22, 2016 Southern rail workers are to take 14 days of strike action in five blocks from next month as the dispute over role of guards continues, the RMT union said today. The union said workers will take industrial action because of Southern's "continued insistence on removing critical safety trained guards from trains". RMT said its members [...]