Libor scandal: Those trading with Barclays would have felt cheated by accused bankers if they had heard about alleged actions April 6, 2016 Those trading with Barclays would have felt cheated if they had got wind of what the five accused bankers had allegedly done, said the lawyer for the fraud squad today. Former Barclays traders Stylianos Contogoulas, Jay Merchant, Alex Pabon and Ryan Reich, along with one of Barclays' former Libor submitters Jonathan Mathew, have been charged with conspiracy to [...]
Marathon Oil denies early closure of key North Sea site April 6, 2016 A US oil major has rebutted claims that it wants to accelerate the closure of a strategically important oil field in the North Sea. It comes after media reports suggested Marathon Oil would shutdown the giant Brae Field earlier than planned after a serious gas leak in December last year. Sir Ian Wood, former chairman of [...]
Losses at Tata Steel UK are supposedly less than £1m per day according to Labour MP Stephen Kinnock April 6, 2016 Losses at Tata Steel's UK business are supposedly half the £1m that has been reported since the India steel conglomerate announced it would put the business up for sale. Speaking on the BBC Today programme Stephen Kinnock, Labour MP for Aberavon, home to Tata’s Port Talbot plant, said: We need to start challenging that figure. It was something that [...]
French former National Front leader Jean-Marie Le Pen fined €30,000 for Holocaust remarks April 6, 2016 Former National Front leader Jean-Marie Le Pen has been fined €30,000 (£24,000) for labelling the Holocaust a "detail" of the Second World War. A court in Paris handed Le Pen the fine for making the comments about the Nazi gas chambers. Prosecutors in France opened an investigation against the former far-right leader over comments he [...]
London house prices: Why Foxtons’ chief executive Nic Budden’s salary is jumping 19 per cent April 6, 2016 It's clearly paying to be in the London property market right now. Foxtons' chief executive Nic Budden's basic salary is to jump 19 per cent for the current financial year, up to £550,000 from £461,000 last year. It's an interesting move for the London-focused estate agent, coming as demand for homes in the capital falls, although there has [...]
London tailor Kathryn Sargent, London’s first female head cutter, is launching her first shop on Savile Row April 6, 2016 Trailblazing tailor Kathryn Sargent is breaking down gender barriers on Savile Row one stitch at a time. Sargent, who became Britain's first female head cutter and master tailor in 2009, has just launched a new store on the historic street – the first woman to do so in its entire 350-year history. The shop will be sister to Sargent’s established [...]
EU referendum: Latest Brexit doomsday forecast suggests GDP growth will halve, an investment drought and sterling crash April 6, 2016 Brexit could compromise the City of London’s position as Europe’s top financial services centre, cause massive swings in the value of sterling, a sharp jump in inflation and at least three years of economic turmoil according to a top analytics firm, in the latest attempt to paint a picture of Brexocalypse. With opinion polls all over [...]
Renters in London are having the hardest time of all, suffering the smallest pay rises in UK and soaring housing costs April 6, 2016 If you rent a house in London and work full-time, chances are the economic recovery has been something you read about in the newspapers but haven’t felt in your pocket. That’s because over the last three years, London has experienced the slowest growth in average wages of any part in the UK, but the fastest increases [...]
Moneycorp warns over uncertain year ahead as Brexit fears bite April 6, 2016 Moneycorp, the foreign exchange firm recently granted a banking licence in Gibraltar, has warned the outlook for 2016 is uncertain due to doubts surrounding a potential British exit from the European Union. A so-called Brexit could cause extreme currency volatility that firms are finding difficult to prepare for. Yesterday it was revealed Britain’s foreign currency reserves reached a [...]