“Inherent conflict of interest” existed in overseeing of Libor, court told in case against two ex-Barclays traders March 7, 2017 A witness from the so-called "voice of banking" told a court today there was an "inherent conflict of interest" in Libor's governance, as trial of two ex-Barclays traders rumbles on. The Serious Fraud Office has claimed Stylianos Contogoulas, 45, and Ryan Reich, 35, played roles in a conspiracy to fix the benchmark rate between 1 June [...]
Biggest US trade deficit since 2012 fans the flames of Donald Trump’s economic nationalism March 7, 2017 The gap between America’s imports and exports with the rest of the world grew to its widest since March 2012, adding fuel to the fire of President Donald Trump’s economic nationalism. The US imported $48.5bn more than it exported in January, an increase of $4.2bn from the previous month, according to the US Bureau of [...]
Spring Budget 2017: What should chancellor Philip Hammond’s headline promise be tomorrow? March 7, 2017 Sam Dumitriu, head of projects at the Adam Smith Institute, says scrap a tax: Not all taxes are created equal, but almost all deter productive activity. Philip Hammond should look to Lord Lawson’s stint where he abolished at least one tax every Budget and took an axe to top marginal rates. So where should he [...]
Exclusive: Apprentice star Lord Sugar says “Labour is dead”, Amazon should pay more in business rates and no one understands Brexit March 7, 2017 Apprentice star Lord Sugar has slammed Jeremy Corbyn for "destroying the Labour party". Speaking exclusively to City A.M., the billionaire entrepreneur said: "I think Jeremy Corbyn is totally useless and he’s destroyed the Labour party. It’s finished. It’s dead. They’ve got to find a new leader. "They need to kick him out but he’s so belligerent he [...]
Budget 2017 UK: Buzzword predictions and Philip Hammond’s speech odds from bookies – Brexit, Trump and the NHS March 7, 2017 Brace yourself… there's a Budget coming. Philip Hammond will be making his first speech laying out plans for spending and the telling the nation about the state of the economy in his Spring Budget on Wednesday. What's in store from the newbie chancellor? And will he be picking up from where his predecessor George Osborne left [...]
Estate agents Savills warns current UK house price growth is unsustainable March 7, 2017 Estate agents Savills has warned that the current rate of house price growth is not sustainable in the UK as inflation and stagnating wages pile pressure on consumers. In February, house prices increased 0.6 per cent month-on-month, according to Nationwide's house price index, and since 2014, price growth has averaged 0.4 per cent, but Savills has warned that [...]
Geneva Motor Show 2017: Six of the craziest concept cars, from VW’s driverless pod to Toyota’s electric city car March 7, 2017 One of the most exciting aspects of the Geneva Motor Show is the slew of concept vehicles unveiled: from the fantastic to the downright bizarre. Here are some of the more exciting ones revealed at the 2017 showing… Read more: The five coolest supercars at the LA motor show 1. VW's Sedric You may not even [...]
London Bridge train and tube disruption to continue after station was evacuated and closed in police security alert March 7, 2017 Delays and cancellations were expected on all lines from London Bridge, Cannon Street and Charing Cross well into rush hour, after London Bridge was placed on lockdown by police after reports of a suspicious vehicle this afternoon. #LondonBridge – London Charing Cross, London Cannon Street and London Bridge are expected to be extremely busy. — [...]
Inmarsat reveals $3bn savings through embracing its satellite technology March 7, 2017 Satellite firm Inmarsat said today its technology has saved airlines $3bn by enabling planes to fly closer to one another, among other things. The FTSE 250 firm compiled a report in association with specialist consultancy Helios. It concluded $1.1bn had been saved through a single air traffic control system and a further $1.9bn was spared by improving the communications with airline control [...]
LSL property services gets £32m boost from selling Zoopla shares March 7, 2017 LSL Property Services received a £32.9m boost last year after selling its shares in Zoopla. The UK's second largest listed estate agent reported full-year results today that were in line with expectations, despite the headwinds faced by the property market in the lead-up to (and after) the EU referendum. The figures The property group's underlying [...]