EU referendum: Moody’s says Brexit costs outweigh the benefits and warns of negative effect on UK Plc credit ratings March 22, 2016 A British exit from the European union would result in prolonged uncertainty and put downward pressure on British companies’ credit ratings, Moody’s Investors Service has warned. In two new reports out today, the credit rating giant said that the economic costs of a so-called Brexit would outweigh the potential benefits, with the UK leaving the [...]
Financial Ombudsman explains frequent problems with debt management companies after it reveals that debt charities are receiving 4,000 new requests for help a day March 22, 2016 The Financial Ombudsman has today explained the most common problems it hears about regarding services offered by debt management companies. In its most recent newsletter, the Ombudsman reveals that debt charities are now receiving 4,000 new enquiries a day. Juliana Francis, senior ombudsman, explained that the complaints received regarding debt management companies, which she calls among the [...]
30% Club founder Helena Morrissey warns plans to link bonuses to gender equality targets may backfire as Virgin Money boss Jayne-Anne Gadhia publishes women in finance review March 22, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of [...]
Energy industry warned over high supply and slowing demand in 2016 March 22, 2016 The global energy industry is going to face fresh challenges in 2016 due to slowing demand around the world, companies have been warned. Demand growth is expected to slump in the second half of 2016, just as production outside of oil cartel the Organization of the Petroleum Exporting Countries (Opec) begins to slacken, according to a [...]
FBI says it may be able to unlock San Bernardino iPhone and asks court to cancel hearing March 21, 2016 The FBI says it may have found a way to unlock the iPhone used by one of the San Bernardino attackers without help from Apple, leading the US Department of Justice (DoJ) to file a request to postpone a hearing scheduled for today. A judge has reportedly allowed the continuation, meaning Apple's legal battle has [...]
Apple iPhone SE: UK price, specs, features, pre-order sale date, network, colours, battery life and everything you need to know about the newest model March 21, 2016 Apple has unveiled its newest iPhone – the iPhone SE – a smaller and cheaper model similar to the 5s, but with all the power of its flagship 6s device. The smaller iPhone has a four inch screen, a more powerful camera and a better battery life, with similar power and features which were first introduced with the 6s model. Apple [...]
Peg bonuses to gender targets: Bank boss reveals plan, but fellow City leaders warn it could backfire March 21, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of the remuneration [...]
Apple iPhone SE release event: Apple Watch price drop and new bands unveiled March 21, 2016 Customers love the Apple Watch, said Apple chief Tim Cook, as he revealed new bands and colour ways – alongside a surprise price drop of its newest device. The starting price of the Watch will now be $299 (£259). That's $50- less than the original price of the lowest entry model, the Sport. There will be a [...]
Apple iPhone SE release event: Boss Tim Cook says Apple “will not shrink from responsibility” in FBI legal battle over privacy March 21, 2016 "We will not shrink from this responsibility" said a defiant Tim Cook in reference to Apple's legal struggle with the FBI over encryption of its iPhones. The Apple chief executive has taken to the stage at a launch event where the tech company is expected to unveil it's latest iPhone – the 5se – but [...]
Senior PRA official in the running to take over top spot after Andrew Bailey departs March 21, 2016 Lyndon Nelson, a senior official at the prudential regulation authority (PRA), is among a small number of candidates being interviewed to take over as governor of the banking watchdog. Nelson is a contender to replace Andrew Bailey, who was recently appointed as the next chief executive of the Financial Conduct Authority (FCA), according to Sky News. He [...]