Legal expert warns UK’s North Sea industry risks suffering a “brain drain” May 17, 2016 A legal expert warned employment law has left the UK's already embattled North Sea oil and gas sector at risk of a "brain drain". Katie Williams, employment specialist and partner at Pinsent Masons, blamed the widespread use of contracts which stop individuals joining a potential competitor for anything up to 12 months after leaving a job. [...]
Investment banking revenues plunged to financial crisis levels in 2015 – and a greater drop is expected this year May 17, 2016 Global investment banking revenues dropped to their lowest levels since the financial crisis last year. And they are expected to plummet even further this year, according to a new report. Analysis in the Boston Consulting Group’s (BCG) Capital Markets 2016 report predicts 2016 investment banking revenue to total $212bn (£147bn), down seven per cent from [...]
European Investment Bank to back Thames Tideway Tunnel with £700m loan, sparking EU row May 17, 2016 The European Investment Bank (EIB) has agreed to provide a £700m loan for London's "super sewer", the largest ever loan for water investment worldwide, sparking a new row in the EU debate. The 35-year-loan is directed toward the biggest infrastructure project ever undertaken by the UK water industry, and is aimed at tackling overflows of untreated sewage [...]
Identity and security: The price we must pay to keep our information safe – and the companies helping us do it May 17, 2016 In ancient Roman mythology, Janus, the god of boundaries, is usually depicted as having two faces. Skip a few thousand years to today’s modern world, and many of us still wear more than one mask: there’s the one we present at work, one we wear in front of family, and others we wear in front [...]
Microsoft and HP dont want Brexit, coming out in favour of remaining in Europe May 17, 2016 US tech giants Microsoft and HP Enterprise (HPE) have come out in favour of Britain remaining in the Europe, just weeks before the country heads to the polls. Microsoft's UK boss Michel Van der Bel has written a letter to staff taking a position on the matter. He said: "First and foremost, we want to emphasise that we [...]
CMA hoping to cut banks’ overdraft charge revenue by as much as half May 17, 2016 The CMA is hoping to halve the amount of money that banks make from overdraft charges following the publication of its provisional decision on remedies. The papers, published yesterday, show that the CMA is hoping to make it easier for account switching to take place through technology, while also requiring banks to set a maximum charge [...]
The race to save BHS: Matalan boss John Hargreaves teams up with Select Fashions owner for rescue bid May 17, 2016 Matalan founder John Hargreaves is teaming up with Cafer Mahiroglu, owner of Select Fashions, to rescue BHS. Hargreaves has formed a consortium with the Turkish entrepreneur to rescue the struggling retailer which went into administration last month putting up to 11,000 jobs at risk. According to The Telegraph, the entrepreneurs plan to make an announcement by [...]
The glass ceiling: women make up half the UK’s lawyers but only a quarter of partners in top firms May 17, 2016 Women make up around half of all lawyers in the UK, but only a quarter of partners in large law firms are female, indicating that the glass ceiling is still very much in place. A survey into diversity in the legal sector by the Solicitors Regulation Authority found that while 47 per cent of qualified [...]