Easter weather is going to be pretty rubbish, with heavy rain, wind, hail and even snow forecast for much of the weekend March 24, 2016 Pack your wet weather gear if you're heading off for the long weekend: the Met Office is warning that there's plenty of rain coming for the long bank holiday weekend throughout the UK. First, the good news: Good Friday will be "largely fine", with plenty of dry weather, variable amounts of cloud and even some [...]
RSA Insurance Group chief executive Stephen Hester takes home £2.5m as key management bonuses grow 66 per cent March 24, 2016 The chief executive of RSA Group raked in £2.5m in 2015, up from £2.2m he brought in the previous year after joining the insurance heavyweight in February 2014. Stephen Hester took home a bonus of £1.2m, 76.5 per cent of the maximum, after the group reported a pre-tax profit up 17 per cent at £323m in 2015. Operating profits [...]
Premium high street retailer Whistles bought out by Phase Eight parent The Foschini Group for undisclosed sum March 24, 2016 Premium high street retailer Whistles has been bought out by Phase Eight parent The Foschini Group. The South African business, which owns 20 retail brands and has a footprint of more than 2,700 stores, has taken a "substantial majority" stake in the British firm, headed by Jane Shepherdson sine 2008. Foschini, which bought Phase Eight [...]
UK house prices: More than 3,000 people used right to buy last quarter – and 5,000 homes have started to be built as a result, government figures show March 24, 2016 Right to buy might still be dividing opinion, but there's one place where no one is in any doubt about its success. The government has today issued another self-congratulatory update of the controversial scheme, claiming it has helped a further 50,000 people buy a home since it was "reinvigorated" in 2012, with more than 3,000 people [...]
UK house prices: Ministry of Defence names new sites for thousands of home as it releases land in London, Essex, Kent and Hampshire March 24, 2016 The Ministry of Defence is to release enough land to build 7,000 new homes around the country, including parts of London, Hampshire and Kent. The MoD believes this tranche of land – the "vast majority of which" will be released in time to contribute towards the government's target of 160,000 by 2020 – will generate around £140m, which [...]
Brent crude and WTI: Oil prices heading for biggest weekly slide in two months March 24, 2016 Global oil prices slipped under the $40 per barrel mark today, putting it on course for its biggest weekly slide in two months. Brent crude, the global benchmark, fell 1.6 per cent to $39.81 per barrel this morning. Meanwhile, West Texas Intermediate crude, the US benchmark, slumped 1.9 per cent to $39.05. The oil price [...]
Deutsche Bank appoints new corporate governance chief and expands role March 24, 2016 Deutsche Bank has appointed a new head of corporate governance and has significantly expanded the role, the bank announced today. Daniela Weber Ray, who has been head of global governance since June 2013, will be succeeded by Florian Drinhausen on 1 April. The expanded role will unite "[a]ll functions that have responsibility for governance matters", bringing together [...]
Oxford Cambridge boat race 2016 route: Where to watch in London, what time it starts – and the best pubs along the River Thames March 24, 2016 Not only is it a long Bank Holiday weekend, it's that time of year when Oxford and Cambridge go head to head on the waters of the Thames – yep, it's boat race time. The 162nd race will pit the two rival universities against each other, with Oxford chasing Cambridge's 81 wins versus Oxford's 79 in the men's event. [...]
Budget 2016: Chancellor George Osborne warns drinks companies not to “waste time and money” by launching legal challenge to the new sugar tax March 24, 2016 Chancellor George Osborne warned drinks companies against wasting time and money by launching a legal challenge to the new sugar tax. It comes as firms are gearing up to go to war with the government over his controversial sugar tax, and are considering fighting the new levy in the courts. Speaking before the Treasury select committee, [...]
Yahoo hedge fund investor Starboard Value LP nominates nine directors to overhaul web portal’s board, saying company has “failed to deliver results” March 24, 2016 Yahoo investor Starboard Value LP has nominated nine directors to overhaul the web portal's board. The hedge fund wrote a letter to Yahoo's shareholders this morning saying the current board has "failed to deliver results". It said significant board changes are needed to "hold management accountable". Read more: Yahoo considers selling up to $3bn non-core assets Starboard [...]