Fiat Chrysler recalls 500,000 Jeep Wrangler SUVs due to fears over air bags May 18, 2016 Car company Fiat Chrysler has announced it is recalling half a million Jeep Wrangler SUVs, over worries that the cars' driver-side air bags will not deploy if the vehicle is driven off-road. A clockspring located in the steering wheel that forms part of the circuit that helps control air bag function can, if driven off-road extensively [...]
Bank of England’s chief economist wants to teach children maths so they trust banks May 18, 2016 Teaching children how to look at numbers, understand bank accounts and work out interest rates will restore trust between banks and the wider public, the Bank of England’s top economist has said. Andy Haldane told a City audience that too many children were being put off maths at school and called on policymakers to make [...]
Retailers lead number of cyber attack incident responses, new research has revealed May 18, 2016 The retail sector has overtaken the financial services industry in generating the most responses following a cyber security breach, fresh research has revealed. Retail now accounts for 22 per cent of all response engagements, up from 12 per cent the previous year, according to the annual Global Threat Intelligence Report. The rise has been put down to [...]
Alistair Darling and Michael Howard clash over Brexit campaign at CBI dinner May 18, 2016 Two grandees of the Leave and Remain campaigns dramatically crossed swords last night, when a former chancellor and former home secretary clashed over the ramifications of the referendum vote at the CBI's annual dinner. The glitzy black tie event, hosted at Grosvenor House on Park Lane, saw Labour peer Alistair Darling and Tory peer Michael Howard [...]
US Federal Reserve signals rate hike “likely” in June May 18, 2016 The Federal Reserve is likely to give US interest rates another hike next month, according to the minutes of its latest policy meeting published this evening. Unless the economy is blown off course, American ratesetters are gearing up to raise interest rates for only the second time since the financial crisis when they next meet [...]
The Kindle Oasis is a masterful showcase in usability and design, but can Amazon’s e-reader justify the price tag? May 18, 2016 Like sensible shoes, boxes of staples, and that plastic bag in your kitchen that’s filled with other plastic bags, it’s really difficult to get excited about e-readers. They’re functional and mundane. Unsexy grey slates that can’t load Candy Crush. The worst ones stand in the way of your efforts to read, but the best ones [...]
Pay growth remains subdued across manufacturing, warns industry body EEF May 18, 2016 Average pay settlements across manufacturing have been subdued since the start of the year, stuck under two per cent. In the second major wage bargaining round of the year pay deals have averaged 1.7 per cent, according to EEF’s latest Pay Bulletin Survey. But it's not just manufacturing that's feeling the pinch. A separate report [...]
Deutsche Bank prepared for shareholder scrap on at least three different fronts at AGM May 18, 2016 Deutsche Bank’s annual general meeting (AGM) kicks off in Frankfurt tomorrow – and it’s set to be a humdinger. The German financial giant has rarely been out of the headlines in the past six months. Last October it announced a management cull and a big restructuring. In December it was linked with a $10bn (£6.8bn) [...]
Vroom Vroom: Tesla shares jump after Goldman Sachs upgrade May 18, 2016 Tesla shares jumped close to 4 per cent on Wednesday after Goldman Sachs upgraded the carmaker’s stock from "neutral" to “buy”. Patrick Archambault, Goldman Sachs’ auto analyst, said he sees a 22 per cent upside to Tesla's $250 share price target. Tesla shares traded at $212.73 at the time of reporting, up almost 3.94 per cent. Read [...]
199 problems and a glitch is one: NYSE is having technical problems May 18, 2016 The New York Stock Exchange suffered a technical glitch in early trading on Wednesday resulting in trades for nearly 200 ticker symbols being cancelled. The unspecified glitch first occurred at 9.27am in New York. Things were back up and running by 10.09am, however the latest update at 10.26am indicated the problem had returned. Nearly an hour [...]