Pressure is growing for the government to introduce a new Pensions Bill in the Queen’s Speech May 16, 2016 The Government is under increasing pressure to include a new Pensions Bill as part of the Queen's Speech later this week. Work and Pensions Committee chair Frank Field wrote to chancellor George Osborne in early May to press the case for better regulation of the market, and in particular, the master trusts which provide multiple [...]
The Women in Banking and Finance Awards aren’t all about women, according to this year’s shortlist May 16, 2016 NULL
Green Party leadership: Who are the runners and riders to replace Natalie Bennett May 16, 2016 Green Party leader Natalie Bennett has announced she will stand down from the helm of the party in August after four years leading the party, paving the way for younger blood. Bennett won't be standing for re-election when her second two-year term comes to an end this summer, though she does intend to stay "fully engaged". Given [...]
EU referendum: Fitch warns that protracted post-Brexit negotiations could trigger recession May 16, 2016 The stakes of any post-Brexit negotiations were laid bare today in a new report from ratings agency Fitch, which assesses how the UK economy will perform if it were to secure different terms of exit after voting to leave the EU. In its worst scenario – in which Fitch predicts at least two years of political wrangling along with [...]
Warren Buffett gives Apple a much needed bump, disclosing billion dollar stake via Berkshire Hathaway May 16, 2016 Warren Buffett has snapped up millions of shares in Apple, giving the tech firm a much needed bump after a tough quarter for iPhone sales. The sage of Omaha has disclosed he had 9.81m shares in the firm as of 31 March in a regulatory filing for his investment firm Berkshire Hathaway on Monday. Share in [...]
CMA says BAA breakup shows how competition leads to benefits while adding further gains can be realised if runway capacity restraints can be lifted May 16, 2016 The breakup of BAA is an example of how competition can lead to benefits for business and personal customers, the Competition and Markets Authority (CMA) has said, while adding further gains can be realised if runway capacity restraints can be lifted. The CMA published an evaluation of the decision to break up BAA, which found a [...]
Liberty House to open another steelworks in June May 16, 2016 Commodities investor Liberty House is planning to re-open its seventh steelworks in as many months in June, the company announced today. The company is set to restart steel pipe and tube manufacturing at Tredegar in the South Wales Valleys, which was closed last year, and the re-opened plant will form the latest link in a [...]
HSBC is moving 840 IT jobs out of the UK May 16, 2016 HSBC is moving nearly 1,000 technology jobs out of the UK, the bank has announced. Some 840 jobs will be moved to other locations around the world, including India, China and Poland as part of its plans to cut thousands of jobs in the UK as part of a major restructure. The roles, currently based in [...]
Pfizer drowns Allergan merger collapse sorrows with new $5.2bn acquisition May 16, 2016 Shares in US pharma minnow Anacor shot up more than 50 per cent in pre-market trading in the US, after Pfizer unveiled plans to buy it for $5.2bn (£3.6bn). Under the merger agreement, Pfizer will acquire Anacor, which makes an antifungal treatment, for $99.25 per share in cash. Both companies’ boards have unanimously agreed the deal. Anacor’s share price soared [...]
Ladbrokes and Gala Coral set for merger decision from watchdog May 16, 2016 A provisional decision is expected to be announced this week on the proposed merger between UK bookmakers Ladbrokes and Gala Coral. The merger, which was confirmed in a £2.3bn deal last July, would create the UK's largest bookie. The final decision on the merger, which will form new company Ladbrokes Coral, is still expected to be [...]