Business secretary Sajid Javid: Job cuts at Deutsche Bank are a “tragedy” November 25, 2015 Business secretary Sajid Javid has enthusiastically endorsed the Square Mile , saying the rest of the country could “learn a lot from the City” and calling recently-announced job cuts in the banking sector a “tragedy”. Speaking at the City A.M. awards dinner tonight, Javid said that while financial services has become an “easy target” for politicians, the [...]
Autumn Statement 2015: Why the Government Digital Services needs a boost from George Osborne November 25, 2015 Pity the bureaucrats this morning. Civil servants across Whitehall have been asked to impose more major cuts to departmental spending. BIS faces a cut of 17 per cent by 2020, while Transport will lose 37 per cent. Others, however, have been spared – some quite unexpectedly. The Arts Council’s budget will be increased, in spite [...]
Black Friday 2015 is about more than just John Lewis, Tesco, and Amazon: Small businesses getting in on the shopping frenzy through eBay November 25, 2015 Brace yourselves: there are now less than 48 hours to go until the year’s biggest shopping frenzy hits, with UK shoppers predicted to part with a record-smashing £1bn this Black Friday. Retail giants like John Lewis, Asda, Tesco and Amazon may be reaping the biggest rewards from the massive Black Friday sales spike – but [...]
Autumn Statement 2015: George Osborne boosts spending on housing, but can the government really build 400,000 more homes? November 25, 2015 Britain’s housing supply crisis isn’t a new problem – but today George Osborne made another government pledge to increase the stock. Osborne’s plans include selling off prisons and offering more capital to affordable housing. To top it off, there is to be a new help-to-buy scheme for London, to give residents a leg up onto [...]
Autumn Statement 2015: No, Mr Osborne, this is not a crisis of home ownership, it’s a housing crisis – where was the pledge to fix the rental market? November 25, 2015 The chancellor thinks we’re in the middle of a home ownership crisis. We're not, we're in the middle of a housing crisis. At least the Conservatives are consistent. Their one-track focus on home ownership and home ownership alone as the only solution for the UK’s housing crisis never wavers. Despite that the Conservatives still had [...]
New European Union rules to prevent market rigging November 25, 2015 New rules have been laid out by the European Union to prevent market benchmarks, like Libor and Euribor, being rigged by banks. Benchmarks will now be supervised to varying degrees depending on their size, a statement from EU president Luxembourg said. When applied, the new rules will strengthen confidence in financial markets "preventing new manipulation [...]
Autumn Statement 2015: This is what chancellor George Osborne is doing for science November 25, 2015 During today's Autumn Statement, chancellor George Osborne made new promises to invest in science for the country's future. “In the modern world one of the best ways you can back business is by backing science,” he told the House of Commons. “That’s why in the last Parliament, I protected the resource budget for science in [...]
Turkish embassy in Moscow attacked by protestors as row over downed aircraft continues November 25, 2015 Protestors have gathered outside the Turkish embassy in Moscow, throwing stones and breaking windows, as the diplomatic crisis between the two countries rumbles on after a Russian warplane was allegedly shot-down over Turkish airspace. The Russian flight engineer, Captain Konstantin Murakhtin, who was returned to his base after a 12-hour rescue mission today with Russian and [...]
Autumn Statement 2015: Osborne hits out at SNP, says falling oil prices would have forced independent Holyrood into catastrophic cuts November 25, 2015 Chancellor George Osborne used this afternoon's Autumn Statement to make a dig at the Scottish nationalists, issuing a stark warning about what might have been had they had succeeded in securing independence. Citing the severe drop-off in global oil prices since the Scottish referendum in September 2014, Osborne said the knock-on effects on government revenues would have [...]
American Airlines has stopped accepting Argentine pesos for ticket sales November 25, 2015 American Airlines has stopped accepting Argentine pesos to pay for tickets due to currency controls that make it hard to convert receipts into US dollars. American Airlines told City A.M.: We have not reduced our flights, although we currently do not have inventory available for purchase in Argentine Pesos due to repatriation issues. We look [...]