Osborne: Chinese firms back £2bn deal for new plant at Hinkley Point September 21, 2015 CHANCELLOR George Osborne has today announced a £2bn deal in support of a new nuclear power station at Hinkley Point in Somerset. The Treasury said that the deal would “pave the way for a final investment decision by energy company EDF, supported by China General Nuclear Corporation and China National Nuclear Corporation, later this year”, [...]
Labour MPs could go against Corbyn and back Syria strikes September 21, 2015 The Labour party could back Prime Minister David Cameron’s proposals to launch airstrikes in Syria, despite staunch opposition from the party’s new leader, Jeremy Corbyn. Shadow foreign secretary Hilary Benn said yesterday that Labour would only make a decision on whether to support strikes after Cameron sets out his proposals. Benn told the BBC: “What [...]
France’s Macron has work cut out after downgrade September 21, 2015 FRENCH economy minister Emmanuel Macron will face a bigger challenge than expected this week when he attempts to persuade British investors to back France after the country’s credit rating was downgraded by Moody’s. Macron is holding an exclusive seminar entitled “Why invest in France” on Thursday before delivering a speech at the London School of [...]
There really is “no money left” at the Treasury’s canteens September 20, 2015 When former Treasury secretary Liam Byrne left his successors a note in 2010 saying there was “no money left”, he may have had a point. Byrne’s note was criticised at the time for being a joke in poor taste, and he admitted this year it may have hindered the Labour party’s performance in the [...]
Cadbury’s gorilla advert featuring Phil Collins hit crowned UK’s favourite September 20, 2015 The famous Cadbury’s ad featuring a gorilla drumming to Phil Collins’ 80s hit In The Air Tonight has been voted the nation’s favourite TV ad of all time, according to a recent poll. The advert, which first aired in 2007, marked a departure from traditional TV campaigns for the company. Since its release [...]
Final payout from Icelandic banks falls short September 20, 2015 THE British and Dutch governments stand to lose as much as 533bn krona (£2.7bn) in a final deal with Icelandic banks, after they were forced to step in and reimburse investors in 2008. In a settlement with Iceland’s Depositors and Investors Guarantee Fund (TIF), British and Dutch authorities will receive 20bn Icelandic krona (£100m), which [...]
HMRC’s tax probes drag on says law firm RPC September 20, 2015 HMRC takes over a year to wrap up almost a quarter of the 115,000 local tax compliance investigations open at any one time, a City law firm has said. Lawyers RPC today released figures showing that HMRC’s local compliance unit had more than 115,000 investigations ongoing against individual taxpayers and businesses as of March [...]
Extradition hearing of flash crash trader Sarao to go ahead on Friday September 20, 2015 THE BRITISH trader accused of triggering a so-called “flash crash” in US financial markets will have his extradition hearing on Friday. Navinder Singh Sarao, accused by the US Justice Department of causing the Dow Jones index to lose $800bn (£511bn) in a matter of minutes, faces extradition on charges that carry a maximum sentence of [...]
Confident City workers look for greener pastures September 20, 2015 IN A SIGN of increasing confidence in the jobs market, more City workers are beginning to get itchy feet, new research reveals today. The number of professionals looking for work in the City of London climbed 17 per cent in August compared with July, according to figures given exclusively to City A.M. by recruiter Robert [...]
Labour councillor pushes to end zero hours work for 96,000 in the capital September 20, 2015 Labour's London Assembly economy spokeswoman will today call for changes to zero-hour contracts in London to guarantee workers 80 per cent of the hours they have worked over the previous three months. Fiona Twycross said in a statement she recognised that zero-hours contracts are popular with students and parents who need flexibility, but added, [...]