Rare Pokemon mean prizes in Canary Wharf August 9, 2016 Office managers in Canary Wharf can blame the Canary Wharf Group if some staff members have been spending even more time playing Pokemon Go this week. The group that oversees development of the Wharf is tempting workers to ditch their duties by offering rewards for those who hunt down and share tweets of rare Pokemon [...]
Brexit is an opportunity to build a points-based migration system that actually works without crippling the economy August 9, 2016 The debate over free movement rages on since its starring role in the Brexit campaign. With the status of current EU migrants and future talent unclear, a new level of business uncertainty is engulfing UK employers. From tech and creative startups through to the NHS, organisations up and down the country are unsure about what [...]
The CMA missed its opportunity to level the playing field for challengers and end the banking oligopoly August 9, 2016 To deal with a problem, first you need to recognise it. While yesterday’s final report from the Competition and Markets Authority (CMA) on UK retail and SME banking identifies the problems of the market, it has fallen short when it comes to making recommendations that will address the underlying issues. The report makes several constructive suggestions [...]
Pension lifeboat deficits reach new highs in July August 9, 2016 Not wanting to be outdone on reporting record deficit numbers the Pension Protection Fund (PPF) today released its funding position that revealed deficits had reached £408bn. Growing by £24bn during July, the PPF deficits were at their highest ever level. But the aggregate proportion of assets to liabilities was not as low as in May 2012. The explanation from the PPF [...]
Pensions deficits have grown at a rate of £2bn a day since rate cut August 9, 2016 The Bank of England's interest rate cut last week has already cost Britain's largest companies a further £10bn in order to manage their pension deficits. According to data prepared by pension specialist Mercer, the aggregate deficit of the largest 350 listed companies has increased from £139bn go £149bn in the five days since Mark Carney's announcement to adjust Britain's [...]
Amec Foster Wheeler rises as record North Sea revenue helps it beat estimates August 9, 2016 Amec Foster Wheeler closed up 11.71 per cent to 521p per share today, after the embattled oil and gas engineer's first half profit beat expectations. The figures Amec's revenue from continuing operations swelled seven per cent to £2.8bn in the six months ended 30 June, ahead of a company-supplied forecast for £2.5bn. The London-listed firm's trading profit stood at £177m during [...]
One of AstraZeneca’s big pipeline drugs just failed a late-stage trial August 9, 2016 Cambridge-based pharma firm AstraZeneca has suffered a set back after a new cancer drug failed at the trial stage. Experimental drug selumetinib failed to meet its goals – helping patients live longer or prevent the disease from worsening when combined with chemotherapy – in a late-stage trial for lung cancer. Shares in the company closed down by 0.3 per [...]
Soft Chinese inflation raise spectre of rate cuts August 9, 2016 The prospect of more monetary stimulus in China edged closer today with a soft inflation reading from the world's second largest economy. Price rises, as measured on the consumer price index (CPI), slipped back from 1.9 to 1.8 per cent in July – significantly off the People's Bank of China's (PBOC) three per cent target. Factory [...]
Anger erupts as North Sea decommissioning contract goes to non-UK firm August 9, 2016 Anger erupted today after UK companies lost out to a Norwegian firm in a tendering process to decommission an oil platform in the UK North Sea. Unions urged policymakers in Holyrood and Westminster to ensure that the UK North Sea oil and gas industry benefits from an estimated £47bn which will be spent on decommissioning by 2040. It comes [...]
The Apple Watch 2 might be coming this year August 9, 2016 An updated version of Apple's first ever wearable and its newest device, the Apple Watch, could be coming as soon as this year, one analyst predicts. The Apple Watch 2 is expected to hit wrists by the end of the year, said Ming-Chi Kuo, an analysts at KGI and known as one of the most well informed [...]