After Volkswagen crisis the next major corporate scandal is imminent – CIPD October 22, 2015 It won’t be long before the next major corporate scandal unfolds, according to research carried out by the CIPD, the professional body for HR and people development. During an investigation into ethical decision making in business, 29 per cent of company heads from across the world admitted to compromising on principles in order to meet [...]
Science grads earn the highest wages initially but arts students win in the end – Emolument October 22, 2015 Science graduates might earn the most when they first leave university, but arts students ultimately land the biggest pay cheques. A new study by Emolument shows that in both the US and the UK, employers hiring recent graduates look most favourably at the technical and numeracy skills of scientists. But as people get older and more [...]
Fossil fuel firms could be misleading shareholders over forecasts for oil and gas demand – Carbon Tracker October 22, 2015 Fossil fuel firms may be misleading shareholders with optimistic forecasts for the future demand of coal, oil and gas to justify multi-billion pound investments, according to a report by Carbon Tracker. The energy industry’s current predictions for future fossil fuel could be skewed to the upside, because they underestimate changes in emissions policy, technological advances [...]
Budget blunders come back to haunt chancellor George Osborne October 22, 2015 On 25 November, chancellor George Osborne will stand up in the Commons and deliver what is, in effect, his fourth budget of the past 12 months. In under a year, the Treasury will have published an Autumn Statement (December 2014), a Budget (March 2015), another Budget (July 2015), and now a bumper combination of a [...]
London food festival goes cold on Square Mile’s haute cuisine October 22, 2015 City restaurateurs are feeling the chill this autumn after getting a noticeable snub on the London Food Festival’s Londoner’s choice awards shortlist. This year’s finalists for the award are all independent or neighbourhood restaurants, beating the likes of Jamie’s Italian, Sketch and Heddon Street Kitchen in favour of eateries further out. Putney’s Bibo, Stoke Newington’s [...]
Bank of England governor Mark Carney warns Brussels against curbing the central bank’s powers October 22, 2015 Bank of England chief Mark Carney last night warned Brussels against stepping on its toes, in a highly-anticipated speech on Britain’s EU membership. Carney warned that inflexible financial regulations are making it harder for the Bank to watch over the UK’s financial centre. He took aim at the EU’s bankers’ bonus cap, arguing that it [...]
Financial Conduct Authority warns peer-to-peer lenders may face same rules as banks October 22, 2015 Peer-to-peer lenders, which help to provide an alternative source of financing from high-street retail banks, may soon come under pressure from regulators, Britain’s financial watchdog told MPs yesterday. John Griffiths-Jones, chairman of the Financial Conduct Authority (FCA), told the Treasury Select Committee that as peer-to-peer lenders and crowdfunders grow and begin to behave more like banks, [...]
UK government finances back on track as George Osborne tries to balance the books October 21, 2015 The government borrowed £1.6bn less in September than it did in the same month in 2014, according to figures published by the Office for National Statistics yesterday. Government borrowing since April, which tends to be a better indicator of state finances than single monthly figures that can be volatile, is down £7.5bn to £46.3bn. Chancellor George [...]
Politicians and industry figures struggle to solve UK steel crisis as sector awaits further subsidies October 21, 2015 Government and industry figures yesterday admitted that there was no firm solution to the UK steel crisis, as the struggling sector awaits EU approval for further subsidies. Factors cited for the decline of the sector include the flood of cheap steel arriving from China, combined with high business rates and energy costs. Gareth Stace, the director [...]
Valeant Pharmaceuticals slams scathing note on drug sales in bid to reverse share price spiral October 21, 2015 Under fire drug company Valeant Pharmaceuticals tried to halt its plummeting share price yesterday by hitting back at a damning note that questioned the medical firm’s relationship with specialty mail-order pharmacies . Valeant shares plunged as much as 30 per cent to $88.58 yesterday after Citron Research accused the company of fraud, saying it used [...]
