Not so hotline bling: This £180k Lambo has been seized as part of a police crackdown on mobile phone-using drivers November 18, 2016 Ever had a near-miss on the streets of the capital after a driver failed to spot you because they were texting? Read on – for the Met Police has just seized a £180,000 Lamborghini because its owner was spotted using a mobile phone when driving. Sweet revenge… In a statement today the Metropolitan Police said the 42-year-old [...]
Ben Broadbent: The weak pound and higher import prices will dampen wage growth – but the Bank of England can fix it November 18, 2016 UK workers' wages are at risk as a result of weaker sterling, the Bank of England's deputy governor warned today. In a speech at the Society of Business Economists' annual conference, Ben Broadbent said the pound's fall against the dollar and the euro meant UK consumers face a long period of higher import prices. Without a [...]
Stay calm: The Sword of Damocles is not hanging over Britain’s fintech sector post-Brexit November 18, 2016 In times of uncertainty, it helps to stay calm and focused on the job at hand. At Innovate Finance, we see ourselves as the rational voice of the UK global fintech community. A big part of our job is promoting our members and fintech – not in a cheerleading capacity, but through rational analysis and [...]
Fuller’s facing unappetising cocktail of Brexit, living wage and business rate increases despite outperforming the market in first half November 18, 2016 Fuller's insisted it has "outperformed the market" in the first half of the financial year but cautioned that it faces an unappetising brew of Brexit, the onset of the National Living Wage and business rate changes. Overall revenue at the pub operator and brewer grew 11 per cent to £197.6m in the six months to 24 September, up [...]
People are pretty confident UK house prices rose this month November 18, 2016 Forget the slightly precarious economic situation both at home and across the pond – UK households are fairly confident the price of their properties have risen this month, new research has suggested. Knight Frank's house price sentiment index was at 55.3 points in November – suggesting the overall view is that prices were up during [...]
Jimmy Choo’s share price rises on sterling’s slide November 18, 2016 Jimmy Choo's share price climbed this morning after the company reported revenue growth due to improved trading and store openings. The luxury retailer's share price was up three per cent at time of writing. Read more: West End gets Brexit boost as sales to tip over £9bn for the first time It said its success [...]
#Marmitegate: Tesco boss warns suppliers against hiking prices November 18, 2016 Tesco's chief executive Dave Lewis has told suppliers not to up prices due to sterling's slide following the Brexit vote. Lewis recently went to war with Unilever after the supplier tried to increase the price of popular goods such as Marmite and PG Tips by 10 per cent. Read more: Marmite peace settlement sends Tesco to the [...]
London mayor Sadiq Khan confirms transport fares will be frozen November 18, 2016 Transport fares for Londoners will be frozen at current levels until 2020, Sadiq Khan has confirmed. The freeze in Transport for London (TfL) fares for the next four years means that everyone buying a bus or tram ticket in London will not pay a penny more next year than they did in 2016. Pay as you go [...]
Volkswagen to slash 30,000 jobs by 2020 in bid to cut costs as it also reveals plans for electric car investment November 18, 2016 Volkswagen is reportedly preparing to unveil restructure plans today that will include up to 30,000 job cuts. The German car maker is overhauling its business in a bid to boost profitability, and will reduce its workforce significantly by 2020. The group said it would make no compulsory redundancies. Of that total, 23,000 roles will be [...]
Bupa snaps up dentistry group Oasis for £835m from private equity house Bridgepoint November 18, 2016 Private healthcare group Bupa has announced an £835m takeover of dentistry chain Oasis from a private equity group. Bupa, advised by Barclays bankers, was said to be in competition with other private equity groups for the acquisition of Oasis, which was owned by Bridgepoint. The private equity house, advised on this deal by Moelis and [...]