Lloyd’s of London’s chairman says business will leave the City if it doesn’t get passporting rights post-Brexit September 5, 2016 London's status as a global insurance leader is at risk in the wake of the Brexit vote, according to Lloyd's of London boss John Nelson. Nelson, chairman of the specialist insurance market, told the BBC's Today programme this morning that the company will have to move business out of the City if it is not given guarantees [...]
Ireland agrees to appeal against €13bn Apple tax repayment demand from EU September 2, 2016 Ireland's coalition government has agreed to appeal against a multi-billion-euro back tax demand that the European Commission slapped on iPhone maker Apple earlier this week, after independent members of the Cabinet gave their backing. "A motion will come before the Dail (the Irish parliament) on Wednesday seeking an endorsement of that decision," a government spokesman said. On Tuesday, [...]
Supermarket chic: Sainsbury’s to launch new premium fashion brand September 2, 2016 Hobbs, LK Bennett and Whistles could be feeling nervous this weekend – as Sainsbury's prepares to launch its new range of women's clothing early next week. The supermarket group named those three high-end brands in particular as it threw down the gauntlet in the battle to win more customers with its new collection. "The quality and styling [...]
Samsung stops selling Galaxy Note 7 and issues recall after reports of spontaneous explosions September 2, 2016 South Korean smartphone manufacturer Samsung is pulling its latest handset off the shelves – due to a risk of spontaneous combustion. The product recall was prompted by reports of phone batteries exploding. “Samsung is committed to producing the highest quality products and we take every incident report from our valued customers very seriously. In response to recently [...]
Fancy a career change? These are the best paying jobs in the world’s top cities, according to Emolument September 2, 2016 If you're looking to make a change in your career, it might be worth considering a move abroad, and more specifically, heading for the Big Apple. New York is where the highest paying roles can be found, according to research from salary-benchmarking site Emolument.com, which has analysed 5,162 pay data points for professionals working in New [...]
Retirement home builder McCarthy & Stone says Brexit will hit growth plans September 2, 2016 UK retirement home builder McCarthy & Stone said today that June's EU referendum had cast doubt on its plans for growth. Shares in the company are down by more than 10 per cent in this morning's trading. [charts-share-price id="512"] Ahead of reporting its full year results in November, McCarthy & Stone said today that legal completions [...]
The Govia Thameslink strike set for 7 September has been called off September 1, 2016 It looks like a 24-hour strike by Southern railway workers next Wednesday in a row over ticket office closures will not be going ahead. Rail union RMT confirmed today that it has suspended strike action involving Southern operator Govia Thameslink's station staff, scheduled for 7 September, after "significant progress" was made in talks held at ACAS yesterday. The union [...]
Department for Transport unveils £20m plan to get Southern back on track September 1, 2016 Transport secretary Chris Grayling has unveiled a package of measures aimed at improving the performance of the Southern rail network and restoring passenger confidence. The new measures include a £20m fund and the appointment of one of Britain’s most experienced rail industry figures, Chris Gibb, to help get the service back "running as it should". London [...]
Standard Chartered appoints HSBC bigwig Paul Skelton as global head of banking September 1, 2016 Standard Chartered has appointed former HSBC bigwig Paul Skelton as global head of banking. Skelton will start his role in December, reporting to Simon Cooper, chief executive of corporate and institutional banking, and will be based in Singapore. In his newly created position, Skelton will be responsible for Standard Chartered’s large corporate and financial institution client relationships. Cooper [...]
Recruiter Hays eliminates debt as it continues with plans to double profit September 1, 2016 Recruitment firm Hays has hiked its dividend after earnings and profit for the year to 30 June were boosted, driven by strong international growth as well as an "excellent" UK performance. The figures Net fees increased by seven per cent to £810.3m during the year, up from £764.2m last year. Operating profit was up 10 [...]
