Uber launches legal challenge over new London taxi rules August 16, 2016 Uber has launched legal action against London's transport regulator over new rules that threaten to limit its business in the capital, City A.M. can exclusively reveal. The billion-dollar startup is seeking a judicial review to halt the introduction of new rules it claims are too strict. Transport for London set out new regulations earlier this year after a [...]
Rivals hit back at BT criticism of their campaign August 16, 2016 BT rivals – TalkTalk, Sky, and Vodafone – have hit back following BT boss Gavin Patterson’s complaints over their Fix Britain’s Internet campaign. In a letter signed by Sky chief executive Jeremy Darroch, Jeroen Hoencamp, the outgoing head of Vodafone UK, and TalkTalk CEO Dido Harding, the bosses rail against the level of BT’s spending [...]
Britain doesn’t need Hinkley to keep the lights on, SSE says August 16, 2016 One of the Big Six energy giants has said Britain doesn't need the controversial Hinkley Point C nuclear power plant to avoid blackouts in the future. In a blog post first published on PoliticsHome, Alistair Phillips-Davies, chief executive of SSE wrote: "If Hinkley doesn't progress there is plenty [of alternatives] to fill the gap," such as [...]
Blame Jeremy Corbyn for the increasing number of public sector strikes August 16, 2016 The total number of working days lost through labour disputes last year was, at just 170,000, the second lowest annual total since records began in 1891. What a difference a year can make. Southern Rail commuters have endured months of misery due to the prolonged series of strikes called by the RMT. Union members on Eurostar [...]
Everyone will benefit from the coming “brain free” car revolution August 16, 2016 Driverless cars are making headlines, with the future of travel revealing itself to be grounded very much in the present. It’s a thrilling time to be in the motor business as trials of new vehicles are gaining momentum. And while it will take time for the technology to be fully rolled out on our roads, completely [...]
MyOptique sets its sights on Europe after takeover by glasses giant Essilor August 16, 2016 Online glasses retailer MyOptique has been sold to the French eyewear giant Essilor. MyOptique, whose brands include the Sunglasses Shop and Glasses Direct, will leverage its new parent company’s global supply chain and collaborate with its other operating businesses to increase its reach across Europe, the company said yesterday. Glasses Direct, which was founded in [...]
With inflation expected to hit 3 per cent in 2017, is the Bank of England right to prioritise growth over price stability? August 16, 2016 Martin Beck, senior economic adviser to the EY Item Club, says Yes. In light of the sharp post-referendum drop in the value of the pound, prices of imported goods are set to increase. As a result, inflation will rise over the next year. As our forecast suggests, CPI inflation is expected to peak at around 3 [...]
First-time buyers are worried the interest rate cut kills their chances of saving for a deposit August 16, 2016 One fifth of 18 to 34 year old prospective buyers say they will find it difficult to save for a deposit due to the recent cut in interest rates. Research from MoneySuperMarket found 21 per cent of this age group think the interest rate cut will mean they will have to wait for longer to [...]
Do you take contactless cards? How about dog leads? These are the 10 items Britons want to be contactless payment-enabled August 16, 2016 Contactless payments may already be ubiquitous here in the City, but with the ever-encroaching tide of the Internet of Things people might start using some slightly more unusual payment methods in the future. Contactless technology is used to make around seven million transactions per day in the UK, but what about cufflinks? Watches? Even your [...]
FRP Advisory set to be appointed BHS liquidators – ousting Duff & Phelps August 16, 2016 FRP Advisory are set to be appointed as liquidators of the BHS empire, City A.M. understands – ousting Duff & Phelps from the role. Duff & Phelps have recommended to creditors that BHS be moved into liquidation – and suggested they take on the job – but it has emerged they have been pushed out [...]