Brits splash out more on whisky than rest of Europe, says Scotch Whisky Association February 7, 2017 The UK is the most expensive place to buy a dram of whisky anywhere in Europe, the Scotch Whisky Association (SWA), has highlighted today. Over one quarter of all the tax on spirits collected in Europe is paid for by Britons due to a domestic tax level, which is higher than the European average. The [...]
Family finance jitters send consumer confidence slumping to three-year low February 7, 2017 Consumer confidence has suffered the biggest single drop in a month, according to a survey released by Moneysupermarket today. According to monthly data collected by the price comparison website, its Consumer Confidence Index, currently stands at 41.63, a drop of over 15 points for February compared to January 2017, and the single biggest monthly drop [...]
Plus500 confident it can deal with FCA crackdown and commits to London February 7, 2017 Spreadbetting firm Plus500 saw its shares jump three per cent today as the company indicated it was well placed to deal with regulatory pressures presented by the City watchdog. Plus500’s chief executive also told City A.M. that the London-listed company will not be seeking to shift resources away from the UK, despite Financial Conduct Authority [...]
The government has defeated a plan to strengthen the “take it or leave it” Brexit 50 vote February 7, 2017 MPs have rejected a plan to strengthen a "take it or leave it" Brexit vote, as Parliament continues to debate the Article 50 Bill. The amendment, tabled by Labour backbencher Chris Leslie, would have expanded upon Prime Minister Theresa May's previous offer of a vote for both MPs and peers on the UK's trading relationship with the EU. [...]
Could it be Luxembourg for Lloyd’s of London? Insurance market narrows shortlist for post-Brexit hub February 7, 2017 Lloyd's of London is homing in on Luxembourg for its new EU camp post-Brexit. The insurance market, which will keep the majority of its operations in London, had narrowed its shortlist to five possible locations – Ireland, Germany, the Netherlands, Belgium and Luxembourg. It has previously ruled out a move to Malta. However, the Press Association [...]
Virgin Active offloads 16 fitness clubs to David Lloyd Leisure February 7, 2017 Virgin Active, the eponymous gym chain, has offloaded 16 of its clubs in the UK to David Lloyd Leisure for an undisclosed sum. The fitness firm will continue to operate 45 clubs in the UK, 33 of which are in London. Last year, Virgin Active sold a further 35 UK gyms to Nuffield Health, a [...]
Commons speaker John Bercow has defended his controversial Trump intervention February 7, 2017 House of Commons speaker John Bercow has defended his controversial intervention over Donald Trump speaking in Westminster. Bercow faced criticism after telling MPs he would fight any plans for Trump to address MPs and peers within the Palace of Westminster. However, speaking to MPs in the House of Commons, Bercow maintained he was “commenting on a matter [...]
It’s not working out: MPs call for rethink of fraud squad’s blockbuster funding February 7, 2017 Funding for the fraud squad needs to be overhauled, as the agency now leans too heavily on financing intended solely for its mega cases, MPs have argued today. Stephen Timms, the Labour MP who brought this morning's Westminster Hall debate on the funding of the Serious Fraud Office (SFO), remarked the agency had recently shifted "away [...]
More than 90 per cent of European goods could clear customs within seconds after Brexit February 7, 2017 Customs clearance for European goods in the aftermath of Brexit could still take just seconds if the UK secures tariff-free trade with the continent, one of the UK's most senior customs officials has said. Addressing parliament's Treasury committee earlier today, an HMRC official said that while tariff-free trade with the EU would require customs declarations, the manner and [...]
Ascential buy: FTSE 250 media company behind Cannes Lions festival buys $69m US firm February 7, 2017 Ascential, the FTSE 250-listed media company formerly known as Emap, has agreed to buy US advisory and business services group MediaLink. The company behind the Cannes Lions advertising festival has agreed an initial cash consideration for MediaLink of $69m (£55m) plus future earnouts. The target company, which was founded in 2003 and has four offices [...]