BT Openreach’s conscious uncoupling: Reactions from four City analysts (and one business school professor) November 29, 2016 Entire geological eras have passed since Ofcom first began um-ing and ah-ing about spinning BT's Openreach broadband division out from the main company. Today the communications watchdog said it will definitely push ahead with plans to legally separate the two entities, causing BT's share price to fall as much as 1.5 per cent this morning, before paring [...]
Regulators promise “once in a generation” changes to payment systems, bringing Britain’s banking into the 21st century November 29, 2016 The way businesses and consumers pay their bills is scheduled for the largest shake-up in decades under plans proposed by regulators. Three of the main retail payment systems – Bacs, Cheques and Credit Clearing Company and Faster Payments Service – are to be binned and replaced with what authorities hope is a clearer and more [...]
Ford, BMW, Daimler and Volkswagen unveil a joint venture to charge up Europe’s electric car network November 29, 2016 Car giants have banded together to charge up Europe's major motorways in a joint venture aiming to accelerate the mass-market take-up of electric vehicles. BMW Group, Daimler AG, Ford Motor Company and Volkswagen Group with its brands Audi & Porsche, have announced a joint venture to deploy a high-powered charge network for battery electric vehicles [...]
The reality of starting out as a landlord: Four months of no tenants and £2,000 set-up costs November 29, 2016 It may be regarded as a money-spinning idea by some, but a new study has laid bare the challenges of being a landlord. A fifth of new property owners said they had endured four months without tenants after they bought their first properties, according to a study by the Nottingham Building Society – while 53 per cent [...]
Surely it was only a matter of time? Motorpoint breaks ranks and reveals Brexit impact November 29, 2016 Car dealer Motorpoint's share price fell three per cent this morning after blaming a "disappointing" first half of the year on the Brexit vote. The figures Revenue jumped 11.5 per cent to £408.9m in the six months to September. But operating profits flopped nearly a third – down from £10.3m to £7.0m. Motorpoint managed to keep its [...]
Lufthansa’s pilot strike has gone into a second week with thousands of flights cancelled November 29, 2016 Lufthansa has cancelled another 1,700 flights for today and tomorrow, after its pilots extended strike plans into a second week. The airline lost a German court bid to prevent its pilots from resuming strikes this week in a dispute that has caused almost 4,500 flight cancellations in a month. The refusal by the Munich Labour [...]
The City watchdog sets its sights on overdrafts and other high cost products, after its success with payday loans November 29, 2016 The City watchdog is taking a closer look at overdrafts and other high-cost credit products, following a crack down on payday loan price caps last year. The Financial Conduct Authority (FCA) has today launched a consultation, calling for evidence and feedback, on products where it is concerned the cost to consumers might overweigh the benefits. Products [...]
Ofcom pushes to legally separate BT and Openreach November 29, 2016 Ofcom said today that it will push ahead with plans to legally separate BT and its broadband network division Openreach. The watchdog accused BT of failing to volunteer any actions that would address competition concerns. BT shares dropped 1.3 per cent at the open. Openreach is the division of BT Group that develops and maintains [...]
Business secretary Greg Clark says government wants to give a stronger voice to workers on boards November 29, 2016 Business secretary Greg Clark said Britain wants to strengthen the voice of workers on company boards, but defended plans not to completely overhaul the unitary board system. "We're not going to make it happen," he said of the idea of bringing employee representative onto the board, though he said it was an available option to [...]
Brexit memo shows UK may try to have its cake and eat it November 29, 2016 The UK could be pushing for a Brexit strategy that allows it to "have its cake and eat it", according to a memo carried by a political aide and snapped by a freelance photographer outside 10 Downing Street. The photographer tweeted the picture and asked: "Is this the first insight into Brexit seen going into [...]