Airbus set to agree £3bn fine tomorrow to settle corruption probe January 30, 2020 European plane maker Airbus’s £3bn plea deal with prosecutors is expected to be approved in court tomorrow, settling a long running corruption probe. The deferred prosecution agreement (DPA) between the Serious Fraud Office (SFO) and Airbus has been agreed in principle and is set to be approved by the President of the Queen’s Bench Division [...]
Exclusive: Politicians slam House of Fraser for continuing to sell Presidents Club clothing line January 30, 2020 Politicians, businesswomen and equality campaigners have called on House of Fraser to stop selling a clothing line appearing to reference the Presidents Club dinner where businessmen allegedly groped hostesses. The Presidents Club annual dinner was plunged into scandal in 2018 after details emerged of attendees’ behaviour and revealing dresses hostesses were told to wear. The [...]
Javid confirms National Insurance cut from April January 30, 2020 Chancellor Sajid Javid has today confirmed the government will raise the threshold for National Insurance contributions (NICs) from April, saving the average worker more than £100. The threshold at which people start paying NICs will be raised by more than 10 per cent to £9,500, according to new legislation laid in parliament today. It was [...]
Facebook valuation takes a $50bn hit after growth slump January 30, 2020 Shares in Facebook fell as much as eight per cent as Wall Street opened this afternoon, following a disappointing set of a results from the tech giant last night. More than $50bn was wiped off Facebook’s market capitalisation as a result of the slump, though shares have since recovered to be down 6.8 per cent. [...]
Rate decision announcement from the Bank of England January 30, 2020 | City Talk For many investors the outcome was too close to call, and therefore offered potential heightened currency volatility. Foreign exchange markets had attributed a 50/50 chance of an interest rate cut, leaving the pound with a burden of uncertainty in the run up to the decision. It also meant it traded with a softer tone over [...]
Coca-Cola toasts vintage 2019 as drinks maker beats expectations January 30, 2020 Coca-Cola’s trademark soft drink proved its timelessness today as the firm said sales of the drink had helped it beat revenue expectations in the final quarter of 2019. Although the firm has been putting increasing focus on expanding its range of coffees, teas and low-sugar drinks, its most famous product saw its value grow six [...]
Brexit: how did we get here? January 30, 2020 | City Talk How did the Brexit timeline lead us here, what impact has it had on the pound and how can the resulting foreign exchange risks be mitigated? The UK began preparations to withdraw from the European Union back in June of 2016. The process has had an undeniable impact on the volatility of the exchange market [...]
Square Mile police station to be transformed into five-star hotel January 30, 2020 The City’s Grade II* listed Wood Street Police Station is set to be transformed into a five-star hotel. The City of London Corporation has sold the building to Magnificent Hotels, after deciding the police station was “surplus to operational requirements”. The police force will be based at the Wood Street station until around December this [...]
Brexit day: what happens on 31 January 2020? January 30, 2020 | City Talk Brexit day on 31 January marks the end of the UK’s membership of the European Union and the start of the “transition period”. After three previous departure dates came and went (20 March 2019, 12 April 2019 and 31 October 2019), it’s the one we all expect to actually happen. The transition – or “implementation” [...]
Non-alcoholic beers protect Fuller’s from Dry January slump January 30, 2020 Pub chain Fuller, Smith and Turner said an increased range of non-alcoholic drinks protected it from the usual January slump in sales, despite an uptick in the number of people going tee-total for the month. Fuller’s today announced that like-for-like sales in managed pubs and hotels were up 4.3 per cent in the six weeks [...]