Sports Direct brushes off England’s early World Cup exit but results show even Mike Ashley can’t predict the weather December 11, 2014 Sports Direct has brushed off England's disappointing World Cup performance but it seems owner Mike Ashley is not immune to the unseasonal weather. The figures Group revenue rose 6.5 per cent to £1.4bn in the six months to 26 October. Underlying earnings before interest, taxes, depreciation, and amortisation rose 11pc to £203.1m, excluding charges related to the [...]
FCA tells annuity providers to “play their part” in helping consumers find the right retirement product December 11, 2014 The Financial Conduct Authority has told annuity providers to buck their ideas up after its review of the market found that competition was “not working as well as it could for consumers”. People are likely to miss out on better levels of income because they do not shop around enough, the report said, with [...]
City firms dominate Stonewall’s Star Performers list December 11, 2014 City firms including Barclays and Goldman Sachs have dominated the "Star Performers" list published by Stonewall today. The group said the eight companies on the list have been "consistently ranked as top 10 gay-friendly workplaces" in its annual Workplace Equality Index. Other star performers included consultant Accenture, law firm Simmons & Simmons, tech giant IBM, [...]
Tui confirms German parent company merger December 11, 2014 Holiday company Tui Travel confirmed this morning that it will go ahead with a merger with its €6.5bn (£5bn) German parent, Tui AG, as planned. This morning the Financial Conduct Authority (FCA) said it had suspended trading at the behest of the company. It will then re-list as Tui AG on 17 December. Between them, [...]
London FinTech stars join Tech City UK’s Future Fifty scheme as booming digital finance sector steals the spotlight December 10, 2014 The capital's crown as the financial technology epicentre of the world will be reaffirmed today as seven of London’s rising FinTech stars will join the government-backed Future Fifty scheme. TransferWise, Go Cardless and Algomi are among the group of 12 companies joining Future Fifty – run by Tech City UK, part of UK Trade & [...]
Investec issues apology to Benjamin Lawsky after analyst Ian Gordon’s Eric Garner gaffe December 10, 2014 South African bank Investec gave US regulator Benjamin Lawsky a grovelling apology last night, after one of its analysts compared Lawsky’s actions against Standard Chartered to the treatment of Eric Garner – an unarmed black man who died at the hands of police officers in America. At a time of inflamed tensions over police behaviour in the [...]
Google Tax to prompt tech giants to kill Irish tax deals as government cracks down on avoidance tactics December 10, 2014 Rules, detailed by the government yesterday, aimed at clamping down on tax avoidance by tech giants including Google and Apple, could force US multinationals to start winding down “artificial arrangements” used to divert profits abroad. “What they’re trying to do is say ‘if you have a UK presence and if you are making UK sales, [...]
Miliband braces his would-be cabinet for years of budget cuts December 10, 2014 LABOUR leader Ed Miliband will today prepare his shadow cabinet for years of departmental budget cuts as he promises to deal with the deficit while protecting public services. Miliband will use his speech to set out how a future Labour government would balance the books without cutting the state to 1930s levels – an accusation [...]
NHS would be in trouble without migrant workers December 10, 2014 The NHS would be “in dire straits” without migrant workers, one of the UK’s senior economists claimed yesterday. Office for Budget Responsibility board member Stephen Nickell told the Treasury Select Committee that 35 per cent of health professionals came from outside the UK. When asked whether immigration had a positive or negative impact on the [...]
Weather bomb goes off in Northern Britain December 10, 2014 PHENOMENAL waves, winds of up to 144mph, blizzards and rain hit north-western parts of the UK yesterday as part of a huge storm system that knocked out power and transport links across the country. Explosive cyclogenesis – a so-called weather bomb – is when a storm grows stronger as the pressure at its centre drops [...]