Steven Mnuchin confirmed as US treasury secretary February 14, 2017 Donald Trump’s pick for US treasury secretary has been approved by the Senate Finance Committee in a vote that divided strictly along party lines. Mnuchin’s nomination was beset by attacks from Democrats and centred on the foreclosure record of OneWest, a bank where Mnuchin acted as CEO. The Democratic senator, Elizabeth Warren, accused Mnuchin of [...]
Steve Mnuchin confirmed as US treasury secretary February 14, 2017 Donald Trump’s pick for US treasury secretary has been approved by the Senate in a vote that divided largely along party lines. Steve Mnuchin’s nomination was confirmed in a 53-47 vote. Mnuchin’s nomination was beset by attacks from Democrats and centred on the foreclosure record of OneWest, a bank where Mnuchin acted as CEO. The [...]
Greek bailout delay could result in re-rerun of 2015, says governor February 13, 2017 Bank of Greece governor Yannis Stournaras has warned that the country must secure an immediate release of further bailout funds from its creditors or risk recession. “Any further delay in completion beyond this month will feed a new circle of uncertainty,” he told Greece’s parliament. “Such a vicious cycle could return the economy to recession [...]
Make the Thames Estuary a hub for creativity, says Khan February 13, 2017 London mayor, Sadiq Khan, has unveiled his vision for turning the Thames Estuary into a world-class hub for the arts. Included within the mayor’s “vision document” is a theatre complex in Bexley, an experiential arts centre in Woolwich, and a new production facility in Dagenham East that would be the capital’s largest film studios if completed. [...]
Le Project Fear: Frexit will cost France €30bn, says bank governor February 13, 2017 Marine Le Pen’s plans to pull France out of the European Union will raise the costs of servicing the country’s debt by roughly €30bn (£25.5bn), according to the governor of the Banque de France. Speaking on French radio, François Villeroy de Galhau warned quitting the Eurozone and the single currency will “impoverish” France. “With the euro, [...]
Now Sonos is hiking prices because of the weaker pound February 13, 2017 Trendy speaker maker Sonos has become the latest cult tech giant to announce it is increasing prices on its UK catalogue thanks to the weaker pound “Our prices are defined regionally,” the company said in an email to its customers. “In the UK, this includes local taxation and import duties, but we pay for everything we make in [...]
Japanese economy grows one per cent, helped by weaker yen February 13, 2017 Japan’s GDP grew at an annualised rate of one per cent in the final quarter of 2016, falling slightly short of analysts’ expectations. Growth between the third and fourth quarters fell to 0.2 per cent, the slowest pace in the year and down from the 0.6 per cent growth rate achieved in the first three [...]
Kirin bows out of Brazilian market in style with £570m sale to Heineken February 13, 2017 The world’s second largest brewer, Heineken, has agreed to buy Japanese rival Kirin's Brazilian operations for 2.2bn Brazillian reals (£567m). Heineken said the acquisition will take place in the first half of this year, and will make the Dutch drinks maker second-largest beer producer in Brazil. Previously trading under the Schincariol brand, Brasil Kirin had been [...]
UK’s biggest firms report record results February 13, 2017 The UK’s largest listed companies weathered a difficult political and trading climate last year, posting upbeat results in the final quarter of 2016. Fourth quarter revenues increased by 5.5 per cent on a like-for-like basis, reaching a record of £116bn for the listed companies. Operating profits grew at their fastest rate in the last three [...]
Swiss voters reject tax reform plan February 12, 2017 Voters in Switzerland have chosen to block the government’s attempts to reform its corporate tax regime. The federal chancellery announced on Sunday that the plans had been rejected by 59 per cent of voters in a nation-wide referendum held last week. Switzerland’s government had sought to abolish ultra-low tax rates for multinationals, whilst preparing a [...]
