China plans to keep its steel exports at high levels April 9, 2016 China indicated it will keep pumping out high levels of steel in the future, as the world's second largest economy is coming under fire for its part in the UK steel crisis. Luo Tiejun, the vice head of the raw materials department at the Ministry of Industry and Information Technology (MIIT), said today that if [...]
Libor scandal: Former Barclays banker did not benefit from changing the Libor rate and was only doing as he was told, court told April 8, 2016 One of the five former Barclays bank employees standing trial for manipulating Libor interest rates only did what he was told to by his boss and received no financial reward, a court heard today. Junior banker at Barclays' Jonathan Mathew, who joined at the age of 19 after achieving three A-levels, did not stand to gain from the profit made by [...]
Is the US Federal Reserve right to stick to a gradual path of interest rate rises this year? April 8, 2016 NULL
Caffe Nero is scrapping free lunch for workers due to the National Living Wage April 8, 2016 Coffee house Caffe Nero is ending its policy of free food for staff due to wage increases brought in by the government. In a letter sent to staff the company said that the National Living Wage changes mean that they would have to cut costs in other areas. The letter – partially reproduced on Buzzfeed – says the [...]
Want to talk to a random Swede? There’s an app for that April 8, 2016 Sweden has become the first country to launch its own phone number, allowing people from anywhere in the world to pick up the phone and be connected to a random Swede in a matter of seconds. In its latest PR stunt, the country’s tourism board has recruited thousands of Swedish volunteers to answer phones day [...]
Marriott and Starwood share prices rise as shareholders approve $12.4bn takeover – bringing the creation of the world’s largest hotel chain one step closer April 8, 2016 Shareholders have approved the $12.4bn (£8.8bn) takeover of Starwood Hotels by Marriott International – meaning the creation of the world's largest hotel chain has just come a step closer. In joint statement today, the pair said shareholders of both companies had approved the merger – with 97 per cent of Marriott shareholders and 95 per [...]
Employees lose a staggering amount of time due to stress – here’s how much April 8, 2016 Ever feel like stress, anxiety and bottomless to do lists stop you from doing your best at work? It would appear you’re not alone. Vitality, the health insurers, and the University of Cambridge asked more than 32,000 employees about the impact work-related stress has on their ability to get work done in order to find [...]
A painting of naked Donald Trump that was banned from Facebook is coming to London April 8, 2016 The naked painting of Donald Trump that broke the internet will be put on display in London next week. Artist Illma Gore's image "Make America Great Again" will be shown at the Maddox Gallery, Mayfair on Monday April 11. The picture – which depicted Republican candidate Trump without any clothes – was so controversial that it was [...]
Bank of England insider appointed new chief executive of the Prudential Regulation Authority (PRA) April 8, 2016 Sam Woods has been appointed the new chief executive of the Prudential Regulation Authority (PRA), the Bank of England announced this afternoon. Woods, who is currently executive director for the Bank's insurance division, will take over from the outgoing Andrew Bailey on 1 July 2016, and will have ultimate responsibility for supervising banks, building societies, insurers and investment [...]