Dear Santa, all we want for Christmas is more freedom – sincerely, the economy December 20, 2018 What does the economy want for Christmas? The answer is what it always wants, but rarely gets: more economic freedom. Economic freedom is actually two presents, not one. To make this Christmas one to remember, the economy wants to unwrap both public and private sector freedom. Public sector freedom comes in the form of a [...]
Tokyo court rejects request to extend former Nissan chair’s detention December 20, 2018 A Tokyo court has decided not to allow an extension on the detention of former Nissan chair Carlos Ghosn, meaning he may soon be released from prison. The Tokyo District Court said in a statement early this morning that it has also ruled against an extension for former Nissan executive Greg Kelly, who was arrested [...]
The fine line between banter and bullying December 20, 2018 Philip Green found himself under fire when he dismissed allegations of bullying and harassment as just “banter”. And while many of us might have considered former Waitrose magazine editor William Sitwell’s comments on vegans to a freelance writer as a quip, it eventually cost him his job. There is no doubt that a friendly working [...]
The government’s immigration proposals aren’t perfect but they include plenty to cheer about December 19, 2018 Yesterday, this column predicted that the government's immigration white paper would be a pretty rum Christmas present for business. Today, we have to acknowledge that while the proposals don't satisfy everyone (or more accurately, every sector) there are elements to cheer. The Home Secretary, Sajid Javid, is known for a more liberal approach to immigration [...]
China arrests another Canadian in the wake of Huawei executive arrest in Vancouver, as diplomatic rift deepens December 19, 2018 China has detained another Canadian as the international fallout from the arrest of Chinese tech giant Huawei’s chief financial officer in Vancouver deepens. The incident follows the arrest of two other Canadians by Chinese authorities – former diplomat Michael Kovrig and businessman Michael Spavor – which in turn came in the wake of Huawei CFO [...]
Facebook shares down after investigation reveals true extent of data-sharing with other tech giants December 19, 2018 Facebook’s shares fell 6 per cent today after an investigation revealed the company gave big tech companies far greater access to users’ personal data than it had previously admitted. The social media giant let Microsoft’s Bing search engine see the names of virtually all users’ friends without their permission, according to reports. The New York [...]
British yachtmakers feel the wind in their sales December 19, 2018 British shipyards are catching the breeze as global yacht building returns to pre-crisis levels, and are set to build around an eighth of all luxury boats next year. Having taken on 109 new projects in 2019, up from 52 this year, UK shipbuilders leapfrogged from fifth to third place in global rankings, beaten only by their [...]
Federal Reserve goes through with expected US interest rate hike, chair Jerome Powell says he is ‘not worried’ about Trump criticism December 19, 2018 The US central bank, the Federal Reserve, has confirmed it is raising interest rates for a fourth time this year in the face of sustained opposition from President Donald Trump. As expected before the announcement, the Fed said it would hike interest rates by 0.25 to a range of 2.25 per cent 2.5 per cent [...]
BP to offload US oil assets in effort to fund BHP acquisition December 19, 2018 BP is planning to raise over $3bn (£2.4bn) by offloading assets in the US as it looks to pay for a deal to buy oil fields from BHP. The sales will help the company fund its $10.5bn acquisition of onshore assets in Texas and Louisiana from BHP, sources told Reuters. BP has in the past said [...]
Gulf Marine sinks like a stone as shares drop 75 per cent December 19, 2018 Gulf Marine Services dropped sharply today, falling by around three quarters as the company warned it would be unable to meet its obligations to lenders as increased competition hit its business. The firm, which provides services to the energy sector, lost 74.7 per cent of its £113.5m market value. Shares fell as low as 8.04p, their lowest [...]