Confederation of British Industry director general Carolyn Fairbairn hits out at Conservative MP Andrew Tyrie after he called the CBI’s EU figures “scandalous” March 3, 2016 Confederation of British Industry (CBI) director general Carolyn Fairbairn has hit back after MPs said it was "scandalous" and "intellectually dishonest" for the pro-EU "Stronger In" campaign to be referencing CBI research. In a letter to Treasury Select Committee chairman Andrew Tyrie today, Fairbairn said CBI research had been "misrepresented" during a committee hearing yesterday. Former [...]
New Investigatory Powers Bill could cast out legal privilege if laws are not carefully scrutinised, barristers and solicitors warn March 3, 2016 The most recent iteration of the Investigatory Powers Bill may not protect a fundamental right of the legal profession as well as government hopes, legal experts have warned today. Speaking on behalf of the Bar Council, Peter Carter, chair of the Bar Council Surveillance and Privacy Working Group, scoffed at claims that legal privilege was now safely [...]
Abbey Life, Countrywide, Old Mutual, Police Mutual, Prudential and Scottish Widows face further investigation into life insurance exit charges by Financial Conduct Authority March 3, 2016 Six insurance firms face investigation from the Financial Conduct Authority (FCA) into what impact exit charges are having on their customers. The announcement follows today's publication of a review by the watchdog into 11 firms on fair treatment of long-standing life insurance customers. Six of the 11 companies – Abbey Life, Countrywide Assured, Old Mutual, Police Mutual, Prudential [...]
From Elton John to Warren Buffett and Michael Bloomberg: Here are eight high net-worth individuals whose children won’t inherit their fortunes March 3, 2016 Sir Elton John isn't the only wealthy parent who won't leave his fortune to his children. Sir Elton John and David Furnish have insisted that sons, Zachary and Elijah, must stand on their own two feet – so they won’t give them Elton's estimated £200m fortune. The reasons for the decisions often include avoiding creating [...]
Sainsbury’s paves the way to make hostile bid for Argos parent Home Retail Group following bid from Steinhoff March 3, 2016 Sainsbury's has cleared the way to make a potential hostile bid for Argos parent company Home Retail Group. The supermarket was all set to take over the business, having made an offer valuing the firm – which no longer includes Homebase – at £1.3bn. However it was gazumped at the last minute by Christo Wiese-backed Steinhoff, [...]
Mother’s day 2016: Mum’s daily household chores are worth nearly £30,000 per year March 3, 2016 They say you can't put a price on family. Well, unless you're in insurance, of course. With Mother's Day just days away, new research finds that our mums' daily household chores are worth almost £30,000 a year in life insurance payouts. The value of a mother to a UK family, in terms of their daily contributions to [...]
US service sector growth edges down to two-year low – Institute for Supply Management March 3, 2016 The US services and construction sectors grew at a slower rate February, according to survey data released today. The Institute for Supply Management's non-manufacturing edged down to a score of 53.4 in February from 53.5. Figures above 50 indicate growth with February's figure implying slightly lower growth than January. While most sectors reported growth, the mining, arts, retail and [...]
Prime Minister David Cameron pledges £17m to France to deal with migrant crisis in Calais at press conference with French President Francois Hollande March 3, 2016 Prime Minister David Cameron has pledged to give France another £17m to deal with the migrant crisis in Calais. In a joint press conference with French President Francois Hollande today, Cameron said that the money would be used to help move people from the refugee camps in Calais to other migrant facilities in France. "If they [...]
France and Britain agree to invest £1.5bn on a drone project as they ramp up security ties March 3, 2016 France and the United Kingdom have sealed a £1.5bn deal to build a next-generation drone prototype as the two countries attempt to bolster security and military ties. The two allies announced they would spend the money developing next-generation ties at a French-Anglo summit in France, the first deal of its type since the tragic Paris attacks that [...]