Bonds rocked again after Mario Draghi’s volatility warning June 4, 2015 European traders faced extraordinary levels of volatility yesterday, just a day after European Central Bank (ECB) chief Mario Draghi’s warning that markets should “get used to it”. The volatility of the German bund, an interest-paying IOU from the German government, was the biggest surprise, given that it is one of the more stable bonds. The [...]
Cameron in high-vis at crossrail ceremony June 4, 2015 Prime Minister David Cameron and mayor of London Boris Johnson were on hand in their high-vis suits yesterday for a Crossrail “break through” ceremony under Farringdon station. The ceremony marked the end of a three-year effort to dig tunnels for London’s forthcoming new Crossrail system. Johnson called the completion “a landmark event”.
Think tank says Whitehall will face bigger cuts as George Osborne announces £3bn plan for savings and sell-offs June 4, 2015 The Institute for Fiscal Studies has warned that it will be “anything but easy” for the Conservatives to stick to their campaign promises. IFS deputy director Carl Emmerson said yesterday that with underlying pressures set to drive up spending, deeper-than-expected cuts amounting to more than 15 per cent for unprotected Whitehall departments will be needed [...]
Sainsbury’s boss Mike Coupe misses out on payday perks June 4, 2015 Sainsbury’s chief executive Mike Coupe missed out on an annual bonus last year after the supermarket chain failed to meet sales and profit targets. The retailer’s annual report published yesterday revealed that Coupe’s annual pay package dropped to £1.5m in the year to March, down from £2m the previous year, when he was still commercial [...]
Culture secretary says BBC licence free is “regressive” and hits poor hardest June 4, 2015 Culture secretary John Whittingdale has dubbed the BBC licence fee "regressive", saying that it hits the "poorest people" hardest. Speaking in Parliament, Mr Whittingdale told MPs that charging all viewers the same annual fee forced those on lower incomes to pay more for the BBC's television services. It is his most critical comment on the [...]
Labour leadership race: Party gives positive reaction to Corbyn’s candidacy June 4, 2015 Many politicians and commentators from across the political spectrum have welcomed the addition of Jeremy Corbyn to the Labour leadership race, standing on a "clear anti-austerity platform". As Corbyn announced his candidacy on Wednesday, he said: This decision to stand is in response to an overwhelming call by Labour members who want to see a [...]
Royal Mail share price drops as government announces plans to sell off its remaining stake June 4, 2015 Shares in the Royal Mail fell more than three per cent to 510p in early afternoon trading, after the chancellor said the government will begin selling off its remaining stake in Royal Mail this year. Read more: Royal Mail revenues rise by a measly one per cent During a debate over the contents of the [...]
England ready to host 2022 World Cup if stripped from Qatar, says culture secretary John Whittingdale June 4, 2015 Culture secretary John Whittingdale has said England is ready to host the 2022 World Cup if Qatar is stripped of the tournament over corruption claims. Read more: Dyke urges Platini to lead World Cup boycott Answering a culture question the commons, the Conservative MP said England would be ready to host the tournament in seven years' [...]
Tunneling for Crossrail has finally finished – Boris Johnson and David Cameron were there for the big break through June 4, 2015 After three years of literally earth-moving work, tunneling for London's largest ever infrastructure project has finally finished – with a ceremony for the final "break through" under Farringdon station. David Cameron and Boris Johnson were there for the break through on the railway, which will run east to west through London when it opens in [...]
Marks & Spencer chief executive Marc Bolland pockets £600,000 bonus after retailer’s first profit rise in four years June 4, 2015 It's not just shareholders who will be pleased that Marks & Spencer finally returned to growth last year. Marc Bolland has pocketed a bonus worth nearly £600,000 for the high street retailer's green shoots, which reported its first rise in profits in four years last month. Bolland received a bonus worth £596,000 on [...]