Financial crimes cost the UK £52bn each year – but only 12 per cent are reported January 29, 2016 Financial crimes are costing the UK economy £52bn every year, but 88 per cent go unreported, it has been revealed. Speaking at the Wealth Management Association’s (WMA) annual Financial Crime Conference in London, a fraud expert has warned that financial crimes pose a serious risk to individuals, charities and public services, as well as the wealth management sector. [...]
The Land Rover Defender is gone, but the next great British success story is just waiting to emerge January 29, 2016 The Land Rover Defender is a great example of UK manufacturing’s worldwide appeal. From the drawing table to the production line, UK manufacturers have a reputation for excellence, high standards, and iconic designs. British manufacturing is not playing not to lose; it is playing to win. The UK’s financial and legal services industries may contribute [...]
Chevron just posted its first quarterly loss since 2002 thanks to low oil prices January 29, 2016 Is this the surest sign yet the fall in oil prices is more than just a blip? US oil goliath Chevron has posted its first quarterly loss since 2002, saying the nearly 50 per cent drop in oil prices had hit it hard. The company posted a loss of $588m (£412m) in its fourth quarter, down [...]
Train delays and commuter frustration: How train operators can get customer service back on track January 29, 2016 At a time when rail delays, disruptions and the rising cost of travel are rarely out of the press, pressure is understandably mounting on rail operators to improve the quality of service for commuters. This is no truer than in the capital, with three train firms serving London named amongst the worst in Britain for customer satisfaction earlier [...]
US GDP growth misses expectations and puts pressure on the Fed to loosen monetary policy January 29, 2016 US economic growth missed expectations in the fourth quarter, reinforcing fears that the Federal Reserve was too hasty last month when it raised rates for the first time in almost a decade. Gross domestic product (GDP) rose by 0.7 per cent during the last three months of the year, the US Department of Commerce said [...]
CML warns of higher rents and a buy-to-let slowdown under Stamp Duty Land Tax proposals January 29, 2016 The new tax on second properties could lead to higher rents and a slowdown in the buy-to-let market, according to the Council of Mortgage Lenders (CML). Days before HM Treasury ends its consultation period on the Stamp Duty Land Tax (SDLT) proposals, the CML has publicly criticised the plans, claiming that they will have a [...]
London needs to build new villages to avoid an overpopulation crisis by 2041, warns Planning Committee January 29, 2016 Population growth is set to make London as dense as Rio de Janiero by 2041, amid concerns there is not enough space for new housing. The London Assembly's Planning Committee has warned the city’s population is likely to grow by approximately 1.5m people over the next 20 years, compounding the ongoing housing crisis. It is believed [...]
Tesco is ending its 24-hour opening hours at 76 stores to make supermarket more efficient January 29, 2016 Tesco is ending its 24-hour opening hours at 76 stores across the UK as the company looks to be more "responsive to the way customers want to shop". Affected stores will shut between midnight and 6am, with the change being rolled out between 14 March and 11 April 2016. The supermarket, which is part-way through a turnaround plan under chief executive [...]
HSBC down: Bank suffers online banking outage (again) after group targeted by cyber attackers January 29, 2016 Well this is embarrassing. HSBC's online banking services are suffering from yet another outage – and it looks like it's down to a cyber attack on the bank. Customers complained this morning that they could not access their accounts online, with many complaining that the outage came just as their first pay day since Christmas arrived. [...]