Northern Powerhouse: Shaving one minute off journey times could provide £1.6bn boost northern cities March 14, 2016 Shaving just 60 seconds off the time it takes to travel to key services could provide a £1.6bn economic boost to the northern regions of the UK, according to new research published today. Using so-called value of time research, consultancy and construction company Mace said for all regions outside of London, saving the extra minute could [...]
From faulty cars to dodgy cheese: The number of product recalls hits a record high March 14, 2016 The number of products recalled after businesses discovered a health risk or a product flaw has soared to a record high, research out today shows. Around 310 products ranging from cars to groceries were recalled in the 12 months to 31 October 2015 compared with 245 the previous year – a jump of 26 per [...]
Angela Merkel’s Christian Democratic Union suffers setback in state elections, as anti-immigration party Alternative for Germany gains a number of seats March 13, 2016 German Chancellor Angela Merkel and her Christian Democratic Union (CDU) party were left disappointed this evening, after the anti-immigration Alternative for Germany (AfD) party gained a surge of new voters in the state elections. Based on exit polls, AfD managed to obtain seats in all three of the state assemblies – Saxony-Anhalt, Rhineland-Palatinate and Baden-Wurttemberg – holding an election [...]
Bitcoin gets a central bank rival as academics develop cryptocurrency RSCoin, but might pounds and pence need to watch their back as well? March 13, 2016 Currency as we know it might be about to be shaken up, as academics from University College London have published a paper on a cryptocurrency which could be used by central banks. Unlike bitcoin and its contemporaries to date, the framework for RSCoin can be centralised and maintain by a State's central bank. The paper by George Danezis and Sarah Meiklejohn [...]
Ivory Coast shooting: Gunmen attack beach resort of Grand-Bassam killing at least 16 people March 13, 2016 At least 16 people have been killed after Al-Qaeda-linked gunmen targeted a holiday resort in Ivory Coast, firing on a beach in Grand-Bassam. At least two attackers launched an assault on the beach resort in the seaside town and are said to have entered a hotel there, local media reports suggest. Al-Qaeda in the Islamic Maghreb has claimed the attack. [...]
Cambridge & Counties bank reports fourfold increase in profit March 13, 2016 Small business lender Cambridge & Counties Bank has reported profit before tax of £10.2m, up fourfold on the £2.5m posted the year before. The bank’s loan book grew by 66 per cent to reach £416m, while deposits increased by 21 per cent to £472m. The bank, owned by the University of Cambridge’s Trinity Hall and [...]
Iran will join output cap talks once it hits four million barrels per day March 13, 2016 Opec rebel Iran has said fellow members of the oil cartel should leave the country alone until it has raised production to over four million barrels per day. The country, which wants to rebuild its market share after a trade embargo, indicated it would then be interested in attending historic talks between Opec and Russia to [...]
The rise of the robots means job losses at Royal Bank of Scotland March 13, 2016 Royal Bank of Scotland is axing 550 jobs and replacing them with so-called robo-advisers, in the company's latest move to cut costs. The axe is set to fall on RBS's investment advice division as well as its protection advice team, with the bank blaming falling demand for face-to-face services for the job losses. Robo-advice, popularised [...]
Celebrity guests Michael Buble, Lord William Hague and Go-Compare’s Wynne Evans gave thanks to Lord Ashcroft at his 70th birthday party March 13, 2016 There were plenty of famous faces extremely happy to be at Lord Ashcroft’s 70th Birthday party last weekend. Michael Buble, William Hague and Katherine Jenkins were just a few who entertained at the do on Park Lane’s Grosvenor House Hotel. The Capitalist wonders if Lord Hague isn’t getting a bit tired of the Mayfair hotel; [...]
What designers can learn from the Trunki court battle after Magmatic lost its intellectual property appeal at the Supreme Court March 13, 2016 A few days ago we saw the final chapter in the long-running and high-profile dispute between the owner of the registered design of the “Trunki”, a ride-on suitcase for children, and the company selling a similar product called the “Kiddee Case” which had been inspired by the Trunki. In 2013, the UK High Court held [...]