Bank of England expected to issue more Brexit warnings this week May 8, 2016 The Bank of England is expected this week to issue more warnings over the EU referendum. Governor Mark Carney has repeatedly cautioned over the potential impact over a so-called Brexit. And more warnings are on the cards this week, with the Bank publishing its inflation report on Thursday. Read more: Britain won't take a pounding if it goes [...]
European watchdog set to rule on Three – O2 merger in coming weeks May 8, 2016 The European Commission is expected to make a decision in the next fortnight on whether to block the merger of mobile networks O2 and Three. There are concerns that Telefonica’s sale of O2 to Hutchison group in Hong Kong would impact competition, reducing the number of mobile operators in the UK from four to three [...]
MPs kick off probe into BHS fiasco May 8, 2016 MPs will turn up the heat on Monday on past and present owners of BHS, including Sir Philip Green, when they begin in-depth inquiries into the collapse of the high street retailer. The initial focus of the investigations by two powerful select committees will be on the firm's worrying pensions situation. The defined benefit pension at [...]
Parking mad: London parking spaces sold for over £200,000 May 8, 2016 LONDON is one of the world’s most expensive places to pay for parking space. On Brewer Street in Soho, for example, you could spend over £50 on just three hours of parking. That may be why some mysterious buyers have forked out as much as much as half a million pounds to buy a parking [...]
How much will Sadiq Khan earn as mayor of London? May 8, 2016 He may come from humble beginnings but Sadiq Khan is now set to earn some serious dosh. His punchline for his mayoral campaign was “I’m the son of a bus driver”. The Tooting MP, whose parents are Pakistani immigrants, grew up in a modest south London housing estate with his seven siblings. He slept in [...]
Saudi Arabia ousts long-serving oil minister Ali Al Naimi sparking fears volatility will return to the oil market May 8, 2016 Saudi Arabia’s dismissal of its oil minister yesterday has sparked concerns that fresh volatility is about to hit the market. The kingdom ousted its long-serving oil minister who was the driver behind Opec's 2014 policy of holding production despite plummeting oil prices. Ali al-Naimi, who held the post from 1995, has been replaced by Khalid Al Falih, chairman of [...]
Tidjane Thiam facing a second consecutive quarterly loss at Credit Suisse May 8, 2016 Tidjane Thiam is set to come under more pressure this week when Credit Suisse reports its first-quarter results. Thiam took over as chief executive of the bank from insurance group Prudential last July. Since then, Credit Suisse's share price has plummeted by around 50 per cent to $14 (£9.70). [charts-share-price id="250"] Read more: Credit Suisse braces for bumpy road ahead The [...]
ITV experiences advertising sales slowdown May 8, 2016 ITV is expected to announce a slowdown in advertising sales in a trading update this week Ad revenue growth is believed to have all but stopped in the first three months of this year although first-quarter revenues are expected to have risen by 12%, due to the continued success of ITV’s production division. Adam Crozier, [...]
Sports Direct in surprise Austin Reed bid May 8, 2016 Sports Direct’s Mike Ashley is thought to have thrown his hat in the ring for menswear retailer Austin Reed. It is understood that Ashley has tabled a surprise £30m bid for Austin Reed which went into administration at the end of last month. Administrators Alix Partners are thought to have received around 50 expressions of [...]
Cameron promises to fight global corruption in wake of Panama Papers May 8, 2016 The Prime Minister has promised to fight global corruption ahead of a summit due to be held in London this week where the Panama Papers leak is likely to dominate the agenda. David Cameron has said he will put tackling corruption at the "top of the international agenda" at the international anti-corruption summit this Thursday, which [...]