City A.M. Shadow MPC votes 9-0 to hold rates before EU vote June 16, 2016 The Bank of England has no option but to keep interest rates on hold until after the EU referendum, leading city economists and experts have said. The Bank’s rate-setting monetary policy committee (MPC) meets today, just one week before the 23 June vote, with all eyes on governor Mark Carney who warned last month that a [...]
Subscription services on the rise for pay monthly Brits, survey shows June 16, 2016 UK consumers are increasingly opting to pay a monthly fee to subscribe to a service, rather than buy it outright, new research has shown. A whopping 40m Brits (78 per cent of the adult population) are now subscribing to at least one product or service. Video streaming services are amongst the most popular kind of subscription [...]
Show us the money: MPs want Green to plug £571m hole in BHS pensions June 16, 2016 Sir Philip Green must make a “generous” contribution to the BHS pension fund and provide more detail on profits taken from the retailer while it was under his ownership, according to two influential groups of MPs. The call from Iain Wright MP, chair of the Business, Innovation and Skills Committee, and Frank Field MP, chair of [...]
Financial sector faces toughest competition in nearly a decade June 16, 2016 Banks are facing their toughest squeeze on profitability in nearly two years as fierce competition in the financial services industry puts pressure on bottom lines. The latest quarterly survey of the sector from the CBI and PwC found that more firms are feeling pessimistic than optimistic about the outlook for the industry for the second quarter [...]
Seven out of ten Tories think that a Brexit vote would be good for entrepreneurs, according to new research June 16, 2016 Seven in 10 Conservative MPs say that Brexit would be good for British entrepreneurs, according to a Yougov survey. In research commissioned by The Entrepreneurs Network, the pollster found that 88 per cent felt entrepreneurial activity would improve if the UK was exempt from EU business regulation, while 70 per cent said it would be better for [...]
UK firms are not ready for a Brexit vote next week, according to 80 per cent of change experts June 16, 2016 UK businesses are insufficiently prepared for next week's referendum result, according to eight out of 10 change management experts. In a survey of 400 interim managers brought in to help firms manage change, 80 per cent said that UK businesses were not ready for the Brexit vote. Read More: Single market alternatives are worse, non-EU businesses [...]
A Brexit vote is a gamble on the future of the young, London’s lord mayor to warn June 16, 2016 Voting to leave the EU represents a gamble on the future of young people, the lord mayor of London will today warn. Speaking ahead of chancellor George Osborne and Bank of England governor Mark Carney at the Mansion House, Jeffrey Mountevans will say that the young are under-represented in the Brexit debate, despite the relative [...]
Former PM Gordon Brown will team with city leaders to warn against the impact of Brexit on Northern cities June 16, 2016 Former prime minister Gordon Brown will today team with the leaders of 10 of the UK's largest cities to warn that a Brexit vote would turn the North into a “wasteland” under the Conservatives. Council leaders from Birmingham, Bristol, Cardiff, Glasgow, Leeds, Liverpool, Manchester, Newcastle, Nottingham and Sheffield say that high tariffs on goods exports, [...]
Sky rebrands Movies to Cinema as it regroups amid growing competition from online streaming sites June 15, 2016 Broadcaster Sky is hoping a change to its popular film channels will be able to arrest the recent downward trend in its share price. TV networks around the world are battening down the hatches against a rising tide of competition. From 8 July, Sky will premiere a new film every day on its movie channels. [...]
Court told: Failure to spot fixing is like missing nudists on a beach June 15, 2016 The possibility that Barclays bosses did not notice the manipulation of Libor submissions is the equivalent of them failing to spot nudists on a beach, a lawyer said yesterday. Adrian Darbishire, a lawyer for ex-trader Ryan Reich, said in his closing arguments that it was more likely executives didn’t think anything was wrong with what was going [...]