G20 summit: David Cameron predicts another recession as global problems bite November 17, 2014 Prime Minister David Cameron has warned that “red warning lights are flashing on the dashboard of the global economy”, threatening another recession. At the close of the G20 summit in Brisbane, Cameron wrote of “a dangerous backdrop of instability and uncertainty”, with the UK’s receovery hampered by the slowdown in the Eurozone. In an article [...]
Osborne waives VAT for Band Aid 30 November 17, 2014 GEORGE Osborne has promised to waive VAT on the latest Band Aid 30 charity single. The move means all of the money raised by the song, out today, will go to charity to tackle Ebola. Organiser Bob Geldof, who is working with artists like Ellie Goulding described the gesture as amazing.
G20 summit: Cameron, Obama and world leaders pledge $2 trillion boost and 2.1pc GDP growth by 2018 November 16, 2014 Countries of the G20 have pledged to grow their economies by 2.1 per cent by 2018, adding $2 trillion (£1.25 trillion) to the global economy. The G20 summit in Brisbane was brought to a close by leaders committing to more than 800 reforms aimed at growing their collective GDP, including employment measures, Infrastructure investment, increasing [...]
“More sanctions? I’m off”: Putin leaves G20 early after being blasted over Ukraine November 15, 2014 Russian President Vladimir Putin has decided to wave goodbye to his fellow G20 summit attendees a day early, after they criticised Russia's involvement in Ukraine and threatened to impose more sanctions on Moscow. Western leaders from both Europe and North America berated Russia for its part in the recent escalation of military activity in [...]
How should George Osborne spend the £1.1bn forex fine? 38 Degrees launches “Nurses vs Bankers” NHS petition November 14, 2014 We had a go at suggesting a few ways George Osborne could spend the £1.1bn windfall from the fine the Financial Conduct Authority slapped on five banks for the parts they played in the forex scandal, and now it's the turn of campaigning organisation 38 Degrees. But where our ideas could have sent us into [...]
HMRC, FCA and PRA tell George Osborne they’ll work more closely together to share information at regular meetings after Banking Standards Review November 14, 2014 Financial regulators and HMRC have outlined plans to work more closely together in the wake of the government investigation into banking standards. The Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) will hold regular meetings with HMRC to better share information and expertise on “taxation, regulatory, prudential and consumer implications” that result from policy [...]
Buffett recharges with $3bn Duracell bid November 13, 2014 WARREN Buffett’s Berkshire Hathaway has agreed to acquire Proctor & Gamble’s Duracell battery business in exchange for its $4.7bn (£2.9bn) stake in P&G, the consumer goods company announced yesterday. P&G, whose brands include Pampers and Gillette, also expects to contribute around $1.8bn in cash to capitalise Duracell, known for its trademark bunny (pictured), before the [...]
Lazard head to be Obama’s Bank Manager November 13, 2014 Lazard banker Antonio Weiss is set to become Barack Obama’s top domestic policymaker on banking and finance, as the president’s pick for the US Treasury. Weiss is the global head of investment banking at Lazard. The Senate will get the final say on his appointment.
Warren Buffett’s Berkshire Hathaway buys Duracell for $4.7bn from Proctor and Gamble November 13, 2014 Warren Buffet’s Berkshire Hathaway has bought up Procter and Gamble’s (P&G) bunny-led battery brand Duracell. The investment firm paid $4.7bn (£3bn) in the form of P&G shares returned to the consumer goods giant- its entire stake in the business. P&G, which had been wanting to offload a host of non-core brands to concentrate on its [...]
Ex-Gaucho MD’s new place M is pukka for Chuka November 12, 2014 Some of the City’s best known names trotted down to Threadneedle Walk last night for the opening of Gaucho’s former MD Martin Williams’ new restaurant complex, M. Metro Bank chief Craig Donaldson was there, rubbing shoulders with designer Amanda Wakeley, chef Angela Hartnett and shadow business secretary Chuka Umunna, who was there with old uni [...]