EU referendum: Downing Street refuses to deny it contacted British Chambers of Commerce (BCC) over John Longworth as Grassroots Out files FOI March 7, 2016 Downing Street refused to deny this morning that Number 10 officials contacted the British Chambers of Commerce (BCC) over former director general John Longworth's euroscepticism. "Of course Number 10 talks to business organisations regularly. But if you are referring to Mr Longworth’s decision to step down, that is entirely a matter for the BCC," the Prime [...]
German factory orders drop in January despite bump in demand from rest of the Eurozone March 7, 2016 German factory's received fewer orders in January compared with the month before, according to figures released this morning. New orders dropped 0.1 per cent with a 1.6 per cent drop in domestic orders offsetting a one per cent climb in foreign orders, German statistical office Destatis said. Orders from other Eurozone countries jumped 7.5 per cent [...]
Night Tube: Aslef’s London Underground drivers vote in favour of latest TfL deal after months of negotiations March 7, 2016 After months of negotiations Tube drivers have voted overwhelmingly in favour of accepting the latest deal offered by Transport for London. The London Underground drivers, who are members of the union Aslef, voted with a majority of nearly nine-to-one in favour of the latest pay and conditions terms offered by TfL around the Night Tube [...]
Cala Group calls on government to tackle housing crisis by building more family homes March 7, 2016 Cala Group, has urged the government tackle the country's housing crisis by addressing the need for larger family homes, as the housebuilder forecast another year of record profits. The Edinburgh-based group, which builds high-end homes in affluent areas in the south of England as well as Scotland, said the government's increased focus on affordable housing and first time buyers was "misguided" [...]
BBVA acquires Finnish digital banking startup Holvi March 7, 2016 The Spanish bank BBVA which last year invested £45m for a stake in UK challenger bank Atom has snapped up a digital banking startup in Finland. Helsinki-founded Holvi, set up in 2011, has been acquired for an undisposed sum. "We’re excited about Holvi as we share a vision about the benefit of technology for the customer. They use [...]
Sunday trading hours: Why the campaign against changes to the law by industry groups and Tory MPs is utterly bonkers March 7, 2016 I am confused, bemused and somewhat irritated by the constant threats from MPs, trading bodies and groups around the country to derail the government’s plans to relax the Sunday trading laws. Creating barriers to trade is out-dated and puts the UK at risk. More than 20 Tory Ministers and MPs have threatened to block the plans before [...]
China’s foreign exchange reserves are falling at a slower pace March 7, 2016 The stash of US dollars used by China to shore up the value of its currency, the yuan, declined at a slower rate in February. China had $3.202 trillion of foreign exchange reserves last month, according to figures released by the State Administration of Foreign Exchange this morning. It is down by $29bn (£20.5bn) on January. [...]
London Stock Exchange chief executive Xavier Rolet could take home £16m from a deal with Deutsche Boerse March 7, 2016 London Stock Exchange Group chief executive Xavier Rolet could walk away with £16m if the London operator's proposed merger with Frankfurt-based Deutsche Boerse is successful. LSE revealed last month that it was in merger talks with Deutsche Boerse in a bid to create a dominant European exchange operator. The two exchanges confirmed that Rolet will step down [...]
UK pensions: As people start living longer, increased competition in pensions de-risking will lead to more small-sized deals in 2016 March 7, 2016 NULL
Green Investment Bank needs safeguards on green mandate before privatisation, says Mary Creagh, chair of the environmental audit committee March 7, 2016 Tough safeguards to make sure that the Green Investment Bank continues to invest in low-carbon projects are needed before it is transferred to private ownership, the head of a parliamentary select committee has said. Chair of the environmental audit committee Mary Creagh said she welcomed "the secretary of state’s pledge to protect the bank’s green [...]