Traders eye tie-ups after Swiss franc shock January 18, 2015 Spreadbetting and foreign exchange platforms were scrambling yesterday to shore up their positions in the wake of the Swiss franc’s soaring movements last week. Bidders are lining up to look through the books of Alpari, a Russian-owned spreadbetter which crashed on Friday as the franc’s movements wiped out some clients and drained the firm’s liquidity. [...]
Uber promises 50,000 new EU jobs if regulators play ball January 18, 2015 UBER boss Travis Kalanick yesterday vowed to create 50,000 new jobs in Europe this year, but only if regulators in European cities start working with Uber to introduce “progressive regulation” allowing the growth of ridesharing apps. “Uber is committed to establishing new partnerships with Europe’s cities to ensure innovation, harness powerful economic benefits and promote [...]
Haggis fans step up fight to end US ban on Burns Night favourite January 18, 2015 With Burns night just a few days away, campaigners are upping the ante in their bid to end a ban on haggis in America. The traditional Scottish dish has been prohibited there since 1971, as human consumption of lungs in products is not allowed by the US Food and Drug Administration. Boisdale, the restaurant whose [...]
Eurozone money printing policy expected this week January 18, 2015 European officials are expected to announce the start of full on quantitative easing (QE) this Thursday. QE involves buying large amounts of typically sovereign assets with newly created bank reserves – cash that banks keep at the central bank. It is hoped that QE will reignite the stagnant Eurozone economy and bring inflation closer to [...]
Pope draws in Manila crowds January 18, 2015 A RECORD 6m-7m people are estimated to have attended Pope Francis’ final mass in Manila’s Rizal park yesterday, concluding his five-day visit to the Philippines. The turnout breaks the record set by John Paul II in 1995, when some five million people came to the same park to attend mass. The 78-year-old Argentine pope, wearing [...]
Republicans slam Obama’s tax proposals January 18, 2015 US PRESIDENT Barack Obama’s plans for new taxes on the wealthy and on Wall Street banks were met with fierce criticism from the Republicans yesterday, signalling the challenges facing any attempt to shake-up the US tax code. Obama will use his State of the Union address tomorrow to propose a raft of new measures aimed [...]
Brewer AB InBev under fire over late payment to UK suppliers January 18, 2015 AB InBev, the brewing giant behind Budweiser, Stella Artois and Boddingtons, has been criticised by the government for imposing excessively long payment terms on its small UK suppliers. Brewpack, which supplies conveyor belt systems, told the BBC that it could no longer afford to take orders from AB InBev because it demanded payment terms of [...]
General Election 2015: Lib Dem Nick Clegg confirms plans to tax wealthy January 18, 2015 Liberal Democrat leader Nick Clegg said yesterday his party would raise taxes for high earners, if it won power in the general election. The deputy prime minister told BBC’s Andrew Marr Show: “[Lib Dem plans to cut the deficit would involve] a mixture of the following components: clamping down on tax evasion and tax avoidance, [...]
Swiss franc crisis: Alpari disconnects phone lines as spreadbetting platform problems leave trader in shock January 18, 2015 Traders using Alpari’s spreadbetting platform have reacted with anger to the firm’s problems and its failure to communicate with clients who were locked out of their accounts. When the firm folded it initially told customers it had gone into insolvency, only to change the announcement on its website to say it could be sold [...]
China’s Hutchison Whampoa pushing ahead with £9bn O2 takeover talks January 18, 2015 Hutchison Whampoa, the owner of the UK’s fourth-largest mobile network Three, is continuing talks with Spain’s Telefonica to buy its UK network O2. Telefonica was in talks with BT to sell O2, valued at around £9bn, but the deal fell apart when BT opted for exclusive deal talks with Orange and Deutsche Telekom to buy [...]