Consumers splash the cash in October, as spending growth hits six-month high November 14, 2016 Brits have been on a spending spree during October, with a surge in money spent heading to hotels, restaurants and bars, according to figures out today. Visa's UK Consumer Spending Index showed that year-on-year growth for consumer spending had risen to 2.5 per cent for October, the sharpest rise in six months and up from 2.3 per [...]
£66bn of investment abandoned as firms fear pear-shaped Brexit November 14, 2016 A third of businesses have turned their back on investments totaling £65.5bn following the Brexit vote, a study out today has found. Hitachi Capital and the CEBR (Centre for Economic and Business Research) also found two out of five (42 per cent) large and medium sized companies had cancelled or put investment plans on hold. [...]
Theresa May is to promise an “unashamedly pro-business” government November 14, 2016 Prime minister Theresa May will today vow to lead an “unashamedly pro-business” government, while also vowing to crackdown on bosses that “game the system”. Speaking at the Lord Mayor's Banquet at the Guildhall tonight, May is expected to stress her desire to make the UK an attractive destination for businesses to invest after Brexit. Citing the [...]
Revealed: Tube drivers take 1,000 days in sick leave per week November 14, 2016 Tube drivers took nearly 52,000 days off sick last year, the highest level in five years. Figures obtained by City A.M. show that Tube drivers took almost 1,000 days in sick leave per week or 14 days per Tube driver in 2015, a year plagued with Tube strike threats due to disputes over working conditions and [...]
Donald Trump names chief of staff and chief strategist November 13, 2016 President-elect Donald Trump has this evening named two senior members of his White House team. Stephen Bannon, the chief executive of Trump for President, will be chief strategist and senior counselor to the President, while Reince Priebus, republican national committee chairman, will be chief of staff. "I am thrilled to have my very successful team continue with me in [...]
Aberdeen wants companies to be forced to consult with shareholders over exec pay November 13, 2016 One of Britain's leading fund managers has said that executive pay rules should force boards to consult more closely with shareholders. A wave of shareholder revolts against executive pay rocked the AGM season earlier this year, while Prime Minister Theresa May weighed into the debate as she prepared to replace David Cameron in Downing Street this [...]
Cuadrilla boss says the firm will look to raise fresh capital to support growth when the time is right November 13, 2016 Britain's leading shale gas firm has confirmed plans to raise money from either the equity or debt markets "in due course". Speaking to the House of Lords economic affairs committee, the chief executive of Cuadrilla, Francis Egan, gave an insight into the company's plans. He explained that because the company – which is backed by a combination [...]
Spanner in the works for HSBC chairman search, as Henri de Castries eyes French government role November 13, 2016 HSBC may have to reconsider its options for who it wants to replace chairman Douglas Flint, as a top candidate eyes up a post in politics. It has been speculated for some time that Henri de Castries, who joined the bank's board as a non-executive director this March, is the front runner for the role. However, the Sunday [...]
Bankers urge Hammond to push for transition periods ahead of Autumn Statement November 13, 2016 Bankers are calling on the chancellor to push to secure important rights post-Brexit ahead of his first Autumn Statement later this month. The British Bankers' Association (BBA) has used its Autumn Statement submission to urge Philip Hammond to provide further clarity on transition periods and a more transparent negotiating timetable. "The outcome of the referendum vote has generated [...]
Fraud squad eyes end of Tesco investigation November 13, 2016 The fraud squad is expected to announce within weeks what its next steps for Tesco will be, as it wraps up its investigation into the black hole in the retailer's accounts. The Serious Fraud Office (SFO) launched its probe into the supermarket giant's accounting practices in October 2014, and brought charges against three individuals, Carl Rogberg, [...]