The Southern rail row isn’t just about the battle between the operator and unions, here’s what’s secretly driving it August 30, 2016 Southern Rail passengers have endured more than their fair share of commuting hell in the past few months: cancelled trains, reduced timetables and, more recently, a string of strikes. The heavy disruption has led to the service being dubbed “Southern Fail” and triggered calls for its delivery to be passed to Transport for London. Public fury [...]
Mid-size businesses push on with growth plans despite Brexit vote August 30, 2016 The majority of Britain's mid-size businesses are planning to carry on investing and growing, despite many believing June's Brexit vote has hampered their prospects. In a report released today by accountants BDO and seen exclusively by City A.M., three out of five (60 per cent) of the firms it surveyed predicted positive growth over the next year, [...]
Consumers are splashing the cash, but feel less confident about what Brexit vote means for the country as a whole August 30, 2016 Consumers have been playing a little bit more fast and loose with the purse strings in the immediate aftermath of the Brexit vote, but are more cautious about what the future holds for the UK. According to the July Lloyds Bank Spending Power Report, which has been released today, two-thirds (67 per cent) of people described their personal [...]
Now the Bank of Mum and Dad will consider lending to other people’s children August 30, 2016 If millennials are not able to access the so-called Bank of Mum and Dad, they might find solace in the Bank of Other People’s Mums and Dads. Over a quarter (27 per cent) of parents and grandparents in the UK would consider funding other people’s children in their home ownership ambitions – in exchange for a [...]
London areas dominate list of fastest growing economies as Croydon – the Silicon Valley of South London – takes the crown August 30, 2016 Croydon's burgeoning reputation as a tech hub has made it the UK’s fastest growing economy, new research has found. Croydon topped the list of 173 areas as the fastest growing UK region with an annual growth rate of 9.3 per cent in gross value added (GVA), according to accountancy group UHY Hacker Young. GVA is a measure of an area’s [...]
Brexit negotiation “pettiness” would push UK and Europe into recession, says Mohamed El-Erian August 30, 2016 The UK and Europe will fall into recession and become less significant globally if Brexit negotiations become the victim of "pettiness", according to Mohamed El-Erian, Allianz's chief economic adviser who chairs President Obama's Global Development Council. El-Erian said that in a "rational world, the UK would end up with a free trade arrangement with the [...]
Amber Rudd is set to dig in her heels and fight for British borders in Calais as she visits France in her first trip as home secretary August 29, 2016 Home secretary Amber Rudd is set to dig her heels in to defend British borders in Calais as senior French politicians call for existing agreements to be reviewed. Rudd will visit Paris tomorrow in her first trip overseas as home secretary, just days after former French President Nicolas Sarkozy questioned the agreement, known as Le Touquet, which allows UK border [...]
Let banks off the naughty step to fight for London post-Brexit says CBI boss Carolyn Fairbairn August 29, 2016 British banks need to be let “off the naughty step” to allow the City of London to defend itself against post-Brexit challengers, according to the boss of the CBI. Speaking to the Financial Times, Carolyn Fairbairn said the controversial eight per cent surcharge on bank profits should also be axed as she called for the UK's regulators [...]
Cadbury-maker Mondelez International has dropped plans to merge with The Hershey Company August 29, 2016 Cadbury owner Mondelez International has scrapped plans to merge with The Hershey Company. Mondelez, which re-branded from Kraft Foods in 2012, revealed it had dropped the plans in a statement tonight. The decision comes after the Mondelez had a $23bn (£17.6bn) takeover offer for Hershey rejected in June. Read More: Cadbury and Mondelez hit back over Dispatches claims “Following [...]
Apple is facing a huge tax bill in Ireland after the EU ruled against the tech giant August 29, 2016 Apple could be handed a bill of more than €1bn (£853m), as the European Commission is set to announce it has ruled against the tech giant's tax dealings in Ireland. European officials have been concerned Apple has benefited from generous tax policies since 2014 because of its size as an employer in the country. Apple employs more [...]