Leonardo DiCaprio attacks the “corporate greed” of oil companies at the World Economic Forum awards in Davos January 19, 2016 Leonardo DiCaprio this evening won an award from the World Economic Forum for his leadership in tackling the climate crisis and used his speech to attack energy companies. He said to the audience in Davos: We simply cannot afford to allow the corporate greed of the coal, oil and gas industries to determine the future of humanity. "Those entities with a financial [...]
Davos 2016: Two-thirds of UK CEOs say they will hire more in 2016, according to PwC survey January 19, 2016 Bosses at Britain’s biggest companies are investing in hiring and growth this year despite concerns about rising global risks, according to a major new survey out this week from PwC. Two-thirds of UK chief executives are planning to increase the size of their workforce and 64 per cent are planning mergers and acquisitions in the [...]
Oil price: North Dakota Sour worth next to nothing as supply glut bites January 19, 2016 The world is set to drown in oil this year, so it's hardly surprising that at least one buyer is pricing oil around the zero mark. Different types of oil are priced against benchmarks, such as Brent and West Texas Intermediate (WTI), depending on the quality, as well as ease of transportation to a refinery. "It really is the buyers [...]
Is this the cheapest house in Belgravia? Six-bed house goes under the hammer for £900,000 January 19, 2016 NULL
The UK clocked up £732m worth of fraud in 2015, up from £717m the year before, with crimes committed in London and the South East accounting for more than half the value January 19, 2016 Frauds in the UK in 2015 were worth £732m, up from £717m in 2014. A report out today by professional services firm KPMG, which studied fraud cases that reached UK courts with losses worth £100,000 or more, also discovered that the average value of fraud per case studied had risen to £2.4m, up from £2m in 2014. Crimes committed [...]
Fintech revolution? Banks will survive disruption from new technology January 19, 2016 Last week, yet another report was published suggesting banking has reached its digital tipping point. Figures from Javelin Strategy & Research suggest that for the first time ever, US consumers banked on their mobiles more than in branches last year. We’re seeing a similar picture in the UK, as the large banks increase their technology spend [...]
Migration Advisory Committee rules: Why making firms pay £1,000 for new hires is anti-business January 19, 2016 After four months of waiting, recommended changes to the immigration rules relating to skilled workers from outside Europe have been announced by the Migration Advisory Committee (MAC). Should the changes be written into law, they will apply from 6 April this year. The recommendations are the biggest changes to sponsored employees since 2010, yet businesses hardly have [...]
Irish government debt falls below 100 per cent of GDP mark to 99.4 per cent, or €204.2bn in money terms January 19, 2016 General government gross debt in Ireland has fallen below the 100 per cent of GDP mark for the first time since 2011. According to figures released today by the Central Statistics Office, general government gross debt in the country for the third quarter of 2015 was €204.2bn (£157.2bn), which is 99.4 per cent of annualised GDP. [...]
Pound plummets to lowest value against the US dollar since 2009 January 19, 2016 The pound has fallen to its lowest value against the US dollar since 2009. Sterling rose in the morning to a value $1.43257 before Bank of England chief Mark Carney said now was not the time to raise interest rates. Carney also signalled he was some way off from voting for a rate hike. The pound [...]
When it comes to the banking culture review, which way will the FCA pendulum swing? January 19, 2016 Tomorrow MPs will grill the heads of the Financial Conduct Authority (FCA) as to why its inquiry into bank culture was scrapped. As the FCA searches for a permanent chief executive, this meeting could be the tipping point which decides how the regulator approaches British banks in the upcoming year. The question being asked is where will [...]