Energy providers are coming up with new methods to move customers to cheaper deals February 14, 2017 As two-thirds of British consumers, or 67 per cent, are still paying for their energy provider's most expensive deal, a consumer group has urged firms to implement new policies. Consumer advice group Which has pushed British energy suppliers to outline new ways to engage customers ahead of Ofgem interventions. Today, it will today publish the responses of 14 companies. "With [...]
One in five startups is planning to set up in Europe because of Brexit February 14, 2017 One in five startups is planning to set up in another county in Europe because of Brexit, but the majority intend to keep their headquarters in the UK, new figures reveal. Just one per cent of the startups surveyed by Silicon Valley Bank said they will move their HQ to somewhere else in Europe, and [...]
Want a more equal society? Be careful what you wish for February 14, 2017 Consider this thought experiment. You have been transported back to 1912 and have the power to change the course of history. You foresee a century ravaged by the effects of two catastrophic World Wars, with a resulting 100m casualties. You also know the effects of violent communist revolution and rule, with a death toll almost [...]
As the Co-Op Bank goes on sale, is now the time to buy UK banks? February 14, 2017 It wasn't hard to spot the irony when Paul Flowers, chairman of the avowedly ethical Co-Operative Bank and a methodist minister, was arrested for drug possession in 2013. In the same year, the mutual Co-operative Group ceded control of the ailing lender to its bondholders, after a massive £1.5bn hole was discovered in its balance [...]
The worrying tale of how my business made $515m more than Snapchat last year February 14, 2017 The marketing and media agency I co-founded likely made at least $1bn more profit than Uber last year. We also made $515m more than Snapchat and $450m more than Twitter. This isn’t because we did anything particularly remarkable. We just stuck to the basic business principle that it’s better to make money than lose it. [...]
Older people must shoulder their share of government spending cuts February 14, 2017 Given general improvements in technology and prosperity, younger generations should, in theory, always be better off than their parents. But with pensioner households now earning more than their working age equivalents, according to a new report from the Resolution Foundation, this can no longer be taken for granted. It is of course good news that older [...]
As it puts itself up for sale, is the Co-op Bank now essentially worthless? February 14, 2017 Frances Coppola, a former banker who blogs at coppolacomment.blogspot.co.uk, says Yes. The Co-Op Bank is reaching the end of the road. Yesterday’s announcement that it is putting itself up for sale follows on from disclosure last month that it was facing a full-year loss for the third year running, and would fail to meet Prudential Regulation [...]
Steven Mnuchin confirmed as US treasury secretary February 14, 2017 Donald Trump’s pick for US treasury secretary has been approved by the Senate Finance Committee in a vote that divided strictly along party lines. Mnuchin’s nomination was beset by attacks from Democrats and centred on the foreclosure record of OneWest, a bank where Mnuchin acted as CEO. The Democratic senator, Elizabeth Warren, accused Mnuchin of [...]
Philip Hammond wants the “best and brightest” of the private sector to work with Britain’s cyber spooks February 14, 2017 Chancellor Philip Hammond is to call on the private sector to help Britain's spooks battle cyber attacks. Speaking at the launch of the UK's new National Cyber Security Centre, Hammond will unveil a new scheme inviting industry to dispatch their “best and brightest” personnel to be embedded in the anti-hacking operation to collaborate in tackling [...]
Steve Mnuchin confirmed as US treasury secretary February 14, 2017 Donald Trump’s pick for US treasury secretary has been approved by the Senate in a vote that divided largely along party lines. Steve Mnuchin’s nomination was confirmed in a 53-47 vote. Mnuchin’s nomination was beset by attacks from Democrats and centred on the foreclosure record of OneWest, a bank where Mnuchin acted as CEO. The [...]