Dog Fight: Why competition must be at the heart of the Heathrow expansion project June 27, 2019 In 1968, the Roskill Commission recommended the expansion of Heathrow. Last week, the airport’s owner, Heathrow Airport Limited (HAL), said that it would finish increasing its size and capacity by 2050 – 31 years from now and 88 since the original findings. We need a bigger Heathrow sooner than that, one that can cater for [...]
A bold pro-business Prime Minister should let Liz Truss shake things up June 27, 2019 There’s another month to go until we have a new Prime Minister, but pro-market Conservatives can already start breathing a sigh of relief. For a start, both contenders for the top job have pledged to cut tax. Jeremy Hunt has promised to cut the rate of Corporation Tax from 19 per cent to 12.5 per [...]
The FCA must stop making excuses and act to avoid another GRG scandal June 27, 2019 It is six years since the damning accusations came to light that the Royal Bank of Scotland (RBS) had been decimating small businesses for its own benefit. It was in fact a businessman, an adviser at the time to Vince Cable as business secretary in the coalition government, who uncovered and pulled together the dossier [...]
Like Boris, Jeremy Hunt should be wary of promising spending splurges June 27, 2019 Earlier this week, the Institute for Fiscal Studies (IFS) performed a useful public service, placing Boris Johnson’s spending proposals under the microscope. The less-than-glowing conclusion was that the plans would be immensely expensive, and have the side-effect of helping wealthy retirees more than current workers. Today, the IFS has done the same favour for rival [...]
Blanket bans ‘not the answer’ to Huawei question, report warns June 27, 2019 The UK must find a “compelling” risk management approach to Chinese tech firm Huawei rather than rolling out a blanket ban, according to a report published today. Defence think tank the Royal United Services Institute (RUSI) questioned whether it was realistic to ban all Chinese tech from UK national infrastructure, and argued the government should [...]
London business confidence recovers on improved domestic and export sales June 27, 2019 London business confidence bounced back in the second quarter (Q2) as domestic and export sales recovered, according to data published today. A survey from the London Chamber of Commerce and Industry (LCCI) showed 20 per cent of businesses reported increased domestic sales in Q2, up from 14 per cent in Q1. The number of businesses [...]
City Moves for 27 June – Who’s switching jobs? June 26, 2019 Today’s City Moves includes CYBG, Squire Patton Boggs and JP Morgan Asset Management. CYBG CYBG has announced two new appointments to its senior leadership team. Lucy Dimes will join the Bank in July as group business transformation officer to lead on improving the efficiency and effectiveness of the bank and the successful delivery of its [...]
Autonomy founder Mike Lynch kicks off testimony in UK’s biggest fraud trial June 26, 2019 Business tycoon Mike Lynch was accused of masterminding a fraud at Autonomy in order to be “seen as a success story” as he began his month-long testimony in the UK’s biggest ever civil fraud trial. Lynch, the founder and former chief executive of Autonomy, is being sued by Hewlett Packard (HP) for $5.1bn for allegedly [...]
Tullow facing delays at Kenyan projects June 26, 2019 Tullow Oil said today it expects a project in Kenya to be delayed as it was forced to go back to residents. The company said the delay was down to Kenyan authorities demanding more consultation with the local community. It expects the consultations will be submitted in the second half of the year. It had [...]
Barrick sticks by offer for Acacia June 26, 2019 Barrick Gold has today stood by its offer for Acacia Mining, saying that the London-listed firm had overstated the value of its assets. Barrick, which is the biggest shareholder in the company, said last month that it was mulling a bid which valued Acacia at $787m. The bid was questioned as Barrick valued the firm [...]