Before the bell: What you need to know before the US market open August 9, 2016 US stocks are nearing record highs and China's inflation grew at its slowest rate in seven months. Here's what you need to know ahead of the US market open at 2:30pm London time. US stock markets are nearing all time highs (the S&P 500 hit an all-time high of 2,185.54 points yesterday, although it pulled [...]
How the big high street banks responded to the CMA report August 9, 2016 There's been a lot of noise in the banking sector this morning, as people try to digest the recommendations laid out in the Competition and Markets Authority's (CMA) final report from its retail banking investigation. Among the most eye-catching announcements was that of the Open Banking programme, which will enable personal and small business customers to share [...]
2016 technology just saved a woman’s tortoise from certain death August 9, 2016 Today's most heartwarming London news story is a good reminder that while we might take for granted the technology available at our fingertips in this day and age, one woman and her tortoise definitely don't. Westminster refuse staff leapt into action after a London resident, Sarah Joiner, called to say her 90-year-old tortoise Zuma had [...]
Research shows people live longer during recessions August 9, 2016 A new study has found that mortality rates drop and people live longer during periods of economic hardship. For every one percentage point increase in unemployment, research published today by IZA World of Labour found there is a 0.5 percentage point fall in the number of deaths in developed economies. According to Nick Drydakis, a reader in economics at [...]
Cenkos pays FCA £0.5m fine in relation Quindell representations August 9, 2016 The Financial Conduct Authority (FCA) fined mid-cap stockbroker Cenkos this morning for making incorrect representations over insurance company Quindell's attempted admission to the stock exchange. Cenkos paid £530,500 in early settlement of the fine, which would have otherwise been £757,800. The size of the fine was in line with expectations, and Cenkos' share price increased by nearly five per cent [...]
Virgin train workers have voted for strike, RMT says August 9, 2016 After the misery caused by the RMT strike on Southern Rail, workers on the Virgin trains have now voted for industrial action. Workers on Virgin East Coast have voted to strike in a dispute over jobs, working conditions and safety, the RMT rail union said. Read more: RMT offers to suspend Southern strike – if it [...]
Levels of female representation in parliament must not be hit by the upcoming boundary review, a committee has warned August 9, 2016 The proportion of women in parliament must not be hit by an upcoming boundary review, a cross-party committee has warned. Parliament's women and equalities committee has launched a new inquiry into the impact of the review on female representation within the House of Commons. There are currently 192 female MPs in parliament – 30 per [...]
Vodafone has ditched separate line rental charges amid regulatory pressure over pricing August 9, 2016 Vodafone – the mobile phone giant that has recently turned its hand to broadband – has said it will scrap line rental charges in a UK industry first. Both new and upgrading home broadband customers in the UK will not be billed the £18 monthly charge if they commit to an 18-month contract. Vodafone came late to the broadband party in the [...]
Marriott-Starwood merger delayed by up to 60 days by Chinese competition authority August 9, 2016 China's ministry of commerce has extended its antitrust review of Marriott International's takeover of hotel giant Starwood Hotels & Resorts Worldwide by up to 60 days. The competition authority requested an additional review period, known as phase three, to investigate the merger, the companies said in a joint statement. If the tie-up of the two [...]
A former shadow business minister and enterprise adviser to Ed Miliband has vowed to quit Labour if Jeremy Corbyn is retained as leader August 9, 2016 A Labour peer who previously served as Ed Miliband's business adviser has vowed to quit Labour if Jeremy Corbyn is retained as party leader. Lord Parry Mitchell, a three-time technology entrepreneur who supported Miliband on enterprise from 2013 and previously served as shadow business minister, said he will resign over Corbyn's approach to anti-Semitism. Mitchell, who also [...]