Fiat Chrysler and Peugeot owner PSA have agreed a merger which could reshape the car industry October 31, 2019 Fiat Chrysler (FCA) and Peugeot owner PSA have agreed to go after a merger which would create a €180bn (£155bn) revenue automotive industry titan. PSA and FCA said they had decided to “work towards” a deal which would give shareholders in each company 50 per cent ownership of the new firm, creating the fourth-largest car [...]
Labour MP Lloyd Russell-Moyle wants no billionaires in Britain October 31, 2019 Labour MP Lloyd Russell-Moyle has said there should be no billionaires in Britain during a combative radio interview. The Brighton Kemptown MP said he doesn’t “want this country to work for billionaires, I want it to work for normal people”. Read more: Jeremy Corbyn launches Labour’s election campaign Speaking to Emma Barnett on the BBC’s [...]
BT boss Philip Jansen says full-fibre rollout should be ‘top priority’ for next government October 31, 2019 BT’s new chief executive, Philip Jansen, has urged the next government to put a full-fibre rollout at the very top of its to-do list as he warned the UK is growing hungrier for data. While British homes currently have just five connected devices, BT predicts that number will soar to 100 within just five years [...]
Jennifer Arcuri’s £100,000 grant deemed ‘appropriate’ by government audit October 31, 2019 A £100,000 grant given to Boris Johnson’s American friend Jennifer Arcuri has been deemed to be “not unreasonable” and “appropriate”, despite the funding being intended to grow the UK tech sector. The Department for Digital, Culture, Media and Sport (DCMS) grant was given to Arcuri’s US-based company Hacker House earlier this year. Read more: London [...]
Watchdog calls for police restraint over use of ‘invasive’ facial recognition October 31, 2019 The head of the UK’s data protection watchdog has called for the creation of legal guidance on the use of live facial recognition (LFR) and urged the police to exercise restraint in their use of the technology. Video surveillance coupled with the use of facial scanning software should only be used when it is “strictly [...]
London hotel room rates drive revenue growth at PPHE October 31, 2019 FTSE 250 hotel group PPHE, which operates Park Plaza hotels, reported revenue growth in the third quarter driven by a strong performance at its London destinations. The company, which is also developing two London Art’otels in Battersea and Hoxton, said like-for-like revenue increased 5.6 per cent to £120.2m in the three months to the end [...]
Friends again: The Co-op Bank and Capita have renewed a £141m contract after falling out in 2016 October 31, 2019 Capita has been tasked with running the Co-operative Bank’s mortgage servicing operations for the next six years, in a contract win which indicates the once-strained relationship between the two is back on course. The £141m deal comes after a public spat in September 2016, in which the Co-op Bank claimed the London-listed firm had failed [...]
Mark Zuckerberg defends political ads on Facebook after Twitter ban October 31, 2019 Facebook co-founder and chief executive Mark Zuckerberg has defended his decision to allow political advertising as the social network after Twitter boss Jack Dorsey threw down the gauntlet over the issue. Read more: Twitter pulls all political advertising as voters support regulation Dorsey announced yesterday that all paid-for political advertising would be banned on Twitter, [...]
Labour MP Keith Vaz suspended for six months for cocaine scandal October 31, 2019 Labour MP Keith Vaz has been given the longest ever parliamentary ban after offering to buy cocaine for escorts he had hired. The Commons Standards Committee on Monday recommended that the Leicester East MP should face a six-month suspension after offering to buy cocaine for male sex workers during a 2016 Sunday Mirror sting operation. [...]
Falling London house prices hit Foxtons’ revenue October 31, 2019 London estate agent Foxtons reported falling sales revenue in the third quarter as house prices in the capital took a hit. Sales revenue slumped 15 per cent to £8.4m, down from £9.9m as ongoing political uncertainty led to lower volumes, falling prices and fewer high value sales. Read more: Foxtons chair steps down after turbulent [...]