Libor latest: Accused ex-Barclays trader says he was just doing what he was trained to May 23, 2016 A former Barclays trader accused of Libor-rigging related offences told the court today that email requests by staff for certain rates were indicative of what they were trained to do. Jay Merchant, along with fellow former traders Stylianos Contogoulas, Alex Pabon and Ryan Reich and former Libor submitter Jonathan Mathew, is standing trial charged with conspiracy to defraud [...]
Stock Spirits knocked back as activist investors win board appointees May 23, 2016 Eastern European vodka maker Stocks Spirits will be feeling worse for wear today, after shareholders voted to appoint two non-executives to the board – against the company's wishes. At today's annual general meeting a majority of shareholders approved the move to let Alberto Da Ponte, a former Heineken exec, and Randy Pankevicz, a former PepsiCo manager [...]
Sainsbury’s is testing a smart fridge to stop you wasting money on food May 23, 2016 How much cash do you end up wasting on food because you can't remember what you already have (or don't have) sitting in the fridge at home? Sainsbury's thinks that it could be quite a lot and might just be one of the reasons for families wasting on average £235 each year – that'll be £1.5bn [...]
Shadow City minister Richard Burgon’s out-of-office email reveals that he can’t count May 23, 2016 Spare a thought for shadow City minister Richard Burgon. The East Leeds MP has had a tricky time immersing himself in City life, struggling to set up meetings with key figures in the Square Mile. Last year, the unlucky shadow minister faced a face-palm moment when asked by Channel 4's Cathy Newman whether he knew the size of the deficit. Burgon [...]
EDF’s UK boss Vincent de Rivaz readies for second grilling by MPs over Hinkley delays May 23, 2016 EDF's UK boss, Vincent de Rivaz, will be hauled before MPs for the second time tomorrow, with the final investment decision for its controversial Hinkley Point C nuclear power plant expected to take centre stage. The French utility giant recently pushed back the decision once again to at least September. De Rivaz had assured it would [...]
FCA must act to cap monthly charges on unauthorised bank overdrafts says Labour MP May 23, 2016 Labour MP and Treasury committee member Rachel Reeves has called on the FCA to go beyond the recommendations of the Competion and Markets Authority and install a cap on banks' unauthorised overdraft charges. The CMA last week proposed that banks should be forced to set their own cap on the amounts that they can charge customers [...]
Tumblers at the ready – mixologists are being challenged to create the perfect cockatil for the Queen’s birthday May 23, 2016 Mixologists love nothing more than making cocktails to mark historic events. And now, true to form, the Wine and Spirit Trade Association (WSTA) has launched a glamorous competition for mixologists to create the perfect cocktail to toast the Queen's birthday. British gin and English sparkling wine makers will battle it out to improve on one of [...]
Beautiful Things: The items on our shopping list this month, from instant cameras to invisible teapots May 23, 2016 Votteler Chair £POA, walterknoll.de This Walter Knoll armchair, based on a 1956-design by Arno Votteler, is a perfect example of Scandinavian objectivity and austerity. The angular volume of the upholstery rests on a delicate tubular steel framework, while the armrests are made from elegantly shaped solid wood. German industrial designer and academic Votteler, who founded [...]
Professor Philip Booth to step down from the Institute of Economic Affairs after 14 years May 23, 2016 Professor Philip Booth, the academic and research director at the Institute of Economic Affairs (IEA) is stepping down from his role after 14 years. He is leaving on 7 November to take up the role as director of research and public engagement at St Mary’s University, but will remain at the IEA for one day a [...]
Vote Leave unveils 30-strong expert group to dismiss Brexit fears May 23, 2016 Brexit campaign group Vote Leave has unveiled a group of 30 business leaders, economists and senior politicians to dismiss figures from the Treasury today, which suggest that the UK could see up to 800,000 job losses if it votes for Brexit. In a joint statement, the group argue that a far greater risk is presented [...]