As the fate of Tata Steel’s UK operations hangs in the balance, is the writing on the wall for the British steel industry? March 30, 2016 The fate of Port Talbot steelworks and thousands of jobs lies in the hands of the government today with investors showing little appetite for buying the UK operations of Tata Steel outright. Prime Minister David Cameron will chair an emergency meeting of key ministers as Number 10 pledges to “ensure a sustainable future” for the troubled [...]
Cabbies group abandons bid to have rival Uber’s licence revoked in London March 30, 2016 Action for Cabbies, a London taxi drivers group, has abandoned its attempt to mount a legal challenge to Uber's licence to operate in the capital. The group launched a crowdfunding campaign earlier this year with the aim of raising £600,000 to fund the first phase of a judicial review (JR), arguing that in 2012 TfL was wrong [...]
As George Osborne introduces yet more changes to the pensions system, what incentive is there for people to keep saving? March 30, 2016 What has the government got against pensions? Its confusing and ever-changing stance toward saving for retirement, particularly with regard to higher earners, will be thrown into sharp relief next week. On 6 April, the lifetime allowance for total contributions made to pension pots comes down again, from £1.25m to £1m. In 2006, the year it [...]
City Moves for 30 March 2016 | Who’s switching jobs March 30, 2016 RateSetter Marketplace lender RateSetter has made two senior appointments in credit and risk. Jim Gunner has joined the board as a non-executive director and chair of the risk committee. Nigel Wilkinson has joined as head of commercial credit. Both executives are ex-HSBC. Jim has spent his career in banking, most of it specialising in risk [...]
The Budget bombshell sugar tax may force fizzy drink manufacturers to make changes March 30, 2016 For all the headlines about the Budget in the past couple of weeks, there was one policy announcement that could have a major impact on brands – the sugar tax. Campaigners such as Jamie Oliver celebrated the move, hailing it as an important step in the fight against child obesity. Soft drinks company bosses are [...]
UK steel crisis: Tata Steel looking into sale of UK assets, including Port Talbot operation in Wales, as Labour leader Corbyn and unions call for government intervention March 30, 2016 Tata Steel is set to sell its UK assets, putting thousands of jobs at risk, after crunch talks held yesterday between the company, politicians and union bosses in Mumbai failed to deliver a different solution. The company said last night that it had told the board of Tata Steel Europe to "explore all options for portfolio restructuring including [...]
EU referendum: Bank of America bans its staff from saying ‘Brexit’ March 29, 2016 Bank of America has reportedly instructed its senior staff to avoid using the word Brexit in conversations with clients. The US bank also told employees not to provide opinions or influence voters, and "not to assume a particular result and not to engage in campaigning", according to the Financial Times. The group has also reportedly [...]
A second deficit could hit chancellor George Osborne and the UK hard March 29, 2016 The Budget generated a hefty amount of political shrapnel for chancellor George Osborne, forcing him to eat humble pie in parliament and raising questions over his ability to balance the country’s books. This week, Osborne is likely to need his hard hat again when the latest balance of payments figures are published. The size of [...]
City Moves for 29 March 2016 | Who’s switching jobs March 29, 2016 Deverell Smith Deverell Smith, specialists in temporary and permanent property recruitment, has announced the appointment of Prunella Milligan as head of new homes temporary recruitment. Prunella previously worked for Deverell Smith for three and a half years from 2010 in business support recruitment before joining Savills in 2013 as an onsite new homes sales negotiator. [...]
Facebook-owned Oculus starts shipping Rift virtual reality headsets March 28, 2016 Deliveries of Oculus Rift headsets began today, with the virtual reality gear shipping to more than 20 countries and regions. The company said the first to receive the new gadgets will be those who invested in Oculus during its crowdfunding campaign, conducted via Kickstarter. The firm will then start shipping pre-ordered Rifts mid-week. Social media [...]
