Londoners forced to fork out double the UK average in divorce costs December 5, 2016 The cost of divorce for Londoners is nearly double the average of elsewhere in the UK, thanks in part to the capital’s more expensive living costs, according to research published by law firm Seddons. Average divorce settlement costs from across the UK total £70,243 versus over £134,525 for couples living in London, according to Seddons’ [...]
UK pensions deficits rise amid uncertainty after EU referendum December 5, 2016 Pension deficits have almost doubled over the last 12 months due to ongoing market volatility sparked by Britain’s vote to leave the EU, posing serious threats to companies’ balance sheets and their ability to pay dividends, according to JLT Employee Benefits. “As we rapidly approach the all-important year-end, at current market levels many companies’ accounts [...]
ECB set to unleash more firepower in December meeting December 5, 2016 The European Central Bank is widely expected to extend its quantitative easing programme by six months at its next policy meeting on Thursday, amid ongoing political risk and stubbornly low inflation. The bank is largely expected to keep the size of its monthly bond purchases unchanged beyond its current end date of March 2017, at [...]
MPs’ Magnitsky amendment to criminal finances bill would see abusers’ assets frozen in the UK December 5, 2016 New powers to freeze the UK assets of those suspected of abusing human rights have received the backing of a cross-party group of influential MPs ahead of a parliamentary vote on the latest anti-corruption legislation. The MPs, led by Dominic Raab, conservative MP for Esher & Walton, have tabled an amendment for the asset freezing [...]
Italian PM Matteo Renzi resigns after crushing referendum defeat December 5, 2016 The euro dived to a 20-month low in the early hours of this morning after Italian Prime Minister Matteo Renzi said he would resign following a crushing defeat in the country’s referendum on constitutional reform. Voters comprehensively rejected Renzi’s flagship proposals to streamline parliament, predominantly by cutting the size and power of the Senate. At the time [...]
Article 50 rematch: Government heads to top court with revamped Brexit argument December 5, 2016 All eyes will be on the Supreme Court today as the attorney general doubles-down on the government's claim that the Prime Minister does not need parliamentary approval to trigger Article 50. Jeremy Wright will be the first to put forward arguments in the four-day hearing, while lawyers for pro-parliament activists who won their argument at the [...]
Ownership of over 40,000 London properties shrouded in secrecy December 5, 2016 Thousands of London's properties are held by overseas companies registered in so-called secrecy havens, obscuring the details of their true ownership, a report out today has found. The report from Transparency International UK and Thomson Reuters identified 44,022 land titles owned by 23,653 overseas companies in Land Registry data. Of these, 91 per cent of companies, holding 40,098 of the land [...]
EU Commission piles pressure onto US tech giants Facebook, Twitter, Google’s YouTube and Microsoft to improve responses to hate speech December 4, 2016 The EU Commission has warned US tech firms Facebook, YouTube, Microsoft and Twitter they need to act faster to tackle online hate speech or will face laws forcing them to do so. The warning yesterday came six months after the four technology giants signed up to a voluntary code of conduct to take action in [...]
Italian referendum: Exit polls indicate PM Matteo Renzi defeated by “no” vote against constitutional reform December 4, 2016 The Italian public has rejected a referendum over Prime Minister Matteo Renzi's plan to reform the constitution, exit polls suggest. Between 42 per cent and 46 per cent of voters backed reform, an exit poll on state broadcaster RAI has indicated, while 54 per cent to 58 per cent voted "no". Read more: Italy expected [...]
Business growth remains steady as high street has a rosy month, Confederation of British Industry (CBI) data shows December 4, 2016 British businesses enjoyed modest growth in the three months to November, and are expected to maintain the pace into 2017, according to a survey published today. Private sector growth remained steady in the last three months, research from the Confederation of British Industry (CBI) showed, while retailers and consumer-facing companies reported a rise in growth. “The [...]