George Osborne ousts Martin Wheatley from FCA July 17, 2015 Martin Wheatley, the man who famously said he would "shoot first and ask questions later" as he launched the Financial Conduct Authority (FCA), has been ousted by chancellor George Osborne. Wheatley, who will leave on 12 September, jumped before he was pushed: City A.M understands he resigned after learning Osborne had decided not to [...]
Government spending on science rises for first time since 2009 July 17, 2015 The UK’s spending on science is up for the first time in four years, as new figures showed government expenditure on science, engineering and technology landing on £10.9bn. Spending in these areas went up by nine per cent in 2013, new figures released by the Office for National Statistics today showed. Allowing for inflation, this [...]
Guarantor loans are “as damaging” as payday loans, Citizens Advice says July 17, 2015 A charity has warned as Britain's regulators heap pressure onto payday lenders, problems linked with this sector are simply shifting to other parts of the market for credit products. Citizens Advice said "guarantor loans", which allow borrowers to use the name of someone else, usually a friend or family member, as security for a loan. [...]
Greek debt crisis: German MPs vote in favour of negotiating third bailout deal with Greece July 17, 2015 It’s Chancellor Angela Merkel’s birthday, and to celebrate the German parliament has voted in favour of starting negotiations with Greece for a third bailout deal. There was a clear majority in the Bundestag with 439 voting in favour against 119 votes against. 40 lawmakers abstained. Merkel, who has been a tough negotiator previously, was urging [...]
Iran nuclear deal: After the nuclear deal, Iran is our “frenemy” July 17, 2015 Tuesday’s agreement on Iran’s nuclear programme is a momentous achievement, but only if it can be enforced and verified. Following the diplomatic deal in Vienna, Western governments should engage with Tehran, but also help to contain Iran’s growing influence in the region. While Tehran celebrates the upcoming removal of international sanctions, its neighbours are anxious; [...]
Good news for landlords: Rents are rising faster than house prices July 17, 2015 All right, so landlords might have been hit by the Chancellor's new rules on mortgage tax relief – but rents might just help to make up for that, after they rocketed 5.6 per cent in the year to June – the fastest rise since 2009. Read more: Landlord it by Summer Budget proposals? Here's what [...]
What’s in the Cheesegrater? From Aon to Amlin, here’s a storey-by-storey breakdown of every business in the Leadenhall Building July 17, 2015 It may not be London's biggest building – but the Leadenhall Building, aka the Cheesegrater, still remains one of the tallest skyscrapers in the Square Mile, towering over its neighbours the Gherkin and the Walkie Talkie. The 225 metre building's characteristic tapered design was created to preserve views of St Paul's Cathedral. Ever [...]
Marks & Spencer leading the FTSE losers: Why clothing boss John Dixon’s departure gives M&S two major headaches July 17, 2015 Marks & Spencer is leading the FTSE 100 losers this morning, after it confirmed its executive director of general merchandise John Dixon had quit. M&S' share price opened down, and has continued to tumble throughout early trading. At pixel time, itwas down 1.3 per cent. When Dixon took up the role in [...]
English devolution is go: Cornwall is first county to receive powers over employment, transport, business support, energy, health and social care July 17, 2015 Put down your pasty. Cornwall has become the first UK county to gain historic new powers under the government's push to give more power to local authorities. The county will now have more control over a host of key areas including employment and skills, transport, business support, energy, health and social care, public estate and [...]
North Koreans are about to go to the polls in local elections – but they can only vote “Yes” July 17, 2015 It's not necessarily the kind of thing you'd expect from the country run by a man prone to shooting those who fall asleep when he's in the same room – but this weekend the residents of North Korea will go to the polls to elect their local people's assemblies. Of course, as The Economist reported [...]