Queen’s Speech 2015: Business community and others react to announcements on immigration, housing, employment, tax, Scotland and English devolution May 27, 2015 The Queen's Speech – the first full-Tory state opening of Parliament since 1996 – has come and gone. But what is the business community making of it all? Here are the best reactions so far. On the tax lock: Chas Roy-Chowdhury, head of tax at the Association of Chartered Certified Accountants says: “This is a [...]
Elon Musk’s SpaceX can now launch military and spy satellites for the US May 27, 2015 Private company SpaceX has received certified approval from the US to send military and spy satellites into space. The decision comes after two years of reviews by the US Air Force, and founder Elon Musk described it as an “important step” in bringing competition to National Security Space launch. “We thank the Air Force [...]
Trader Tom Hayes accused of greed and dishonesty in Libor-rigging scandal May 26, 2015 The first trial of a trader accused of fraudulently attempting to manipulate key interest rate benchmark Libor began in Southwark yesterday. Prosecutors said Tom Hayes, a 35-year-old former UBS and Citigroup trader, was “greedy” and used his position over several years to engage in the “dishonest rigging of Libor”. Hayes, who pleaded not [...]
Madame Tussauds makeover for David Cameron as high office takes its toll on PM May 26, 2015 Prime Minister David Cameron has had work done. Five years in Coalition has taken its toll on the youthful fresh-face of the 48-year-old jogger. The prospect of a tussle over the EU, NHS worries and more belt-tightening, do nothing for frown lines, or hair colour. So to keep reflections accurate, Madame Tussauds has added [...]
Libor-rigging scandal: Tom Hayes lost his Citi job over his methods, prosecutors tell court May 26, 2015 Former trader Tom Hayes was fired in 2010, four years after he started attempting to manipulate Libor, according to the prosecution’s case in court yesterday. Lawyers presenting the Serious Fraud Office’s (SFO) case in Southwark Crown Court said the former UBS and Citi banker received complaints just months after he started to work at [...]
Libor-rigging scandal: As trader Tom Hayes comes to court, wait for justice will soon be over – Bottom line May 26, 2015 Politicians have been screaming for blood over the Libor scandal for years, as fines and firing have not sated their anger with banks. Now they have a chance to see if one accused trader will be jailed, as the evidence is presented to a jury. But coming three years after the Barclays fine blew [...]
Nicola Sturgeon on Brexit: In/out EU referendum must have “double majority” rule May 26, 2015 SNP leader Nicola Sturgeon has slammed Tory austerity measures and reaffirmed her party's commitment to staying in the EU in her first major economic speech since the election. Speaking to business leaders at Heart of Midlothian's Tynecastle Stadium, Sturgeon said the SNP would propose a "double majority" on the vote, in which each of the [...]
First Libor case with ex-UBS and Citigroup trader Tom Hayes comes to trial at Southwark Crown Court today May 26, 2015 The first criminal trial over allegations of conspiracy to rig the Libor benchmark interest rate will start in London court today. Tom Hayes, a former trader at banks UBS and Citigroup, will appear at Southwark crown court charged with eight counts of conspiring to rig the Libor rate. Hayes previously pleaded not guilty to charges of conspiracy [...]
Sir Malcolm Bruce: House of Commons would be cleared “very fast” if you got rid of all liars May 26, 2015 If we wanted to get rid of every MP who had ever told a porkie, "we'd clear out the House of Commons very fast", the former deputy leader of the Liberal Democrats admitted this morning. Sir Malcolm Bruce, who stepped down at the General Election, was attempting to defend Alistair Carmichael – the only [...]
Sajid Javid on O2 outage: “Sort it out” May 26, 2015 He's still pretty new to the role but business secretary Sajid Javid has already secured some fans – and potentially at least one telecoms enemy. Yesterday mobile phone network O2 suffered a series of outages that affected users in London, Sussex, Manchester, Bristol, Birmingham, Glasgow and parts of Northern Ireland. O2 said it [...]