Judge approves Britain’s first ever deferred prosecution agreement in Serious Fraud Office bribery case involving Tanzanian division of ICBC Standard Bank November 30, 2015 Britain’s first deferred prosecution agreement (DPA) has been approved today in a bribery case involving ICBC Standard Bank and the Serious Fraud Office (SFO). A DPA is a type of plea deal where legal proceedings against a company are suspended in return for other conditions, such as agreeing to pay a fine. The London division [...]
Inflation in Germany and Italy weak in November despite oil price impact wearing off November 30, 2015 Inflation in Germany, the Eurozone’s biggest economy, and Italy was weak in November according to official estimates released today. However, there is evidence the effect of cheap oil is beginning to wear off. Germany’s inflation ticked up to an annual rate of 0.4 per cent in November. Energy prices were down 7.5 per cent compared [...]
China’s yuan clinches membership of the International Monetary Fund’s special drawing rights basket November 30, 2015 In a much expected move, the International Monetary Fund (IMF) has included China's currency, the yuan or RMB, in its elite currency basket. The yuan joins the yen, pound sterling, US dollar and euro in the IMF's special drawing rights – which acts as the IMF's own currency. While the move has little immediate practical significance, it is [...]
Tory bullying scandal: City law firm Clifford Chance to take full control of investigation into Mark Clarke claims after Grant Shapps resignation November 30, 2015 The Conservative Party has handed over full control of an investigation into allegations surrounding the apparent suicide of a Conservative party activist to City law firm Clifford Chance, CCHQ confirmed today. CCHQ said Rob Halfon and Lord Feldman, who have both come under pressure to step down over the scandal, will recuse themselves from a board meeting held to consider the [...]
Silverfleet Capital sell Office for £256m to South African retailer Truworths, more than tripling its money November 30, 2015 Office, the shoe shop, has been sold by its private equity owner Silverfleet to Truworths International, a South African fashion retailer for £256m. Silverfleet achieved an impressive 3.4x return on its investment five years ago, in December 2010, when it bought the shoe brand from Sir Tom Hunter, the Scottish entrepreneur and philanthropist, who's behind private equity vehicle West [...]
Syria air strikes: Labour confirms MPs will have a free vote on bombing campaign November 30, 2015 The Labour party has confirmed that its MPs will have a "free vote" on the government's proposal to extend the military's anti-ISIS bombing campaign into Syria. In a statement this afternoon, a spokesperson for Labour leader Jeremy Corbyn said: "Today's shadow cabinet agreed to back Jeremy Corbyn's recommendation of a free vote on the Government's proposal [...]
Apple Cyber Monday 2015 deals: Best UK sales for cheap iPhones, Macs, iPads, iPad Pro the Apple Watch and more – at Tesco, Argos, Currys PCWorld, John Lewis, eBay and others November 30, 2015 Just like Black Friday, Apple's not one to get on the Cyber Monday discounting bandwagon, but that doesn't mean you still can't bag a bargain on iPhones, iPads Macs and more. We've hunted high and low so you don't have to when it comes to bagging an Apple deal. Here are the bargains we found. Read more: [...]
Property of the Fortnight: The £15m penthouse at the heart of the Swinging Sixties November 30, 2015 If only the walls could speak in this £15m penthouse, they could spill the beans on some of the biggest stars of the Swinging Sixties. Sitting across the top two floors of the Curzon cinema in Mayfair, this impressive 3,469sqft property is the home of Dave Clark, the musician and manager of Beatles’ rivals The [...]
Syria air strikes: 75 per cent of Labour members are against extending strikes into Syria November 30, 2015 Labour leader Jeremy Corbyn has written to Prime Minister David Cameron asking for a two-day debate on air strikes in Syria. In a letter sent this afternoon beginning "Dear David", Corbyn said the matter is "of such critical importance there must be full and adequate time for any debate". "A one day debate would inevitably lead to [...]
Why job insecurity causes a wide range of health problems November 30, 2015 Feeling uncertain about the future of your job can have a serious impact on your health, both mental and physical, according to a new report by a UCL economist. Studying the link between employee stability and well-being among people in the UK, Switzerland, Canada and Australia, professor Francis Green found a clear trend – moving from a [...]