Streaming overtook digital downloads and CDs as the biggest source of revenue in the US music industry for the first time last year March 22, 2016 Streaming became the biggest source of revenue for the music industry in the US for the first time ever last year, new figures have revealed – and the recent trend for buying vinyl has pushed the sector back to 1980s levels. The streaming category includes subscription services such as Spotify, Apple Music and Jay Z's [...]
Brussels attacks: London faith group and Muslim leaders release statement condemning attacks March 22, 2016 Faiths Forum for London has released a statement, co-signed by 100 Muslim leaders, condemning the attacks that took place in Brussels this morning. At least 34 people were killed and more than 130 wounded in a pair of attacks at Zaventem Airport and Maalbeek metro station in the European capital today. The Islamic State later claimed [...]
Budget 2016: George Osborne’s Budget approved by MPs including Iain Duncan Smith after disability benefit cuts were shelved March 22, 2016 MPs have approved the Budget after a week that saw one senior minister resign from the cabinet and a government U-turn on benefit cuts. The Budget passed with a majority of 35 MPs at 310 votes for to 275 against. George Osborne's Budget last week contained £4bn worth of disability benefits cuts – leading pensions [...]
EasyJet owner Sir Stelios Haji-Ioannou threatens Fastjet with legal action over licence breaches March 22, 2016 Sir Stelios Haji-Ioannou, owner of the Easy group of brands – which includes Easyjet, has contacted the board of African budget airline Fastjet over a number of licence breaches. EasyGroup is the brand owner and licensor of Fastjet. In a letter to Fastjet chair Colin Child, Haji-Ioannou outlined a number of concerns, including the fact that since the [...]
While Jeremy Corbyn may have failed to land any punches yesterday, George Osborne can’t bank on get out of jail free cards March 22, 2016 You know the feeling – the visceral unease as you drag yourself into work, gazing at a sea of fellow commuters, dreading some impending confrontation in the office. A showdown with your boss, colleagues, maybe a client. You gulp, take a deep breath, and front up. And then when the fireworks are set to explode… [...]
City Moves for 22 March 2016 | Who’s switching jobs March 22, 2016 RPC Consulting RPC Consulting – the insurance consultancy arm of RPC – has appointed four senior insurance actuarial professionals to its team in London and Cambridge. Pete Lee, James Norman and Tony Lovick all worked at EMB (now Willis Towers Watson). Natasha Regan joins from the Financial Reporting Council (FRC). Pete has over 25 years’ [...]
FBI says it may be able to unlock San Bernardino iPhone and asks court to cancel hearing March 21, 2016 The FBI says it may have found a way to unlock the iPhone used by one of the San Bernardino attackers without help from Apple, leading the US Department of Justice (DoJ) to file a request to postpone a hearing scheduled for today. A judge has reportedly allowed the continuation, meaning Apple's legal battle has [...]
Peg bonuses to gender targets: Bank boss reveals plan, but fellow City leaders warn it could backfire March 21, 2016 Proposals for bonuses to be tied to the number of senior women at financial institutions have been criticised by top City figures, who say the move threatens to deter women from working in the Square Mile. In a government-backed review out today, Virgin Money chief exec Jayne-Anne Gadhia recommends financial services firms “connect parts of the remuneration [...]
Senior PRA official in the running to take over top spot after Andrew Bailey departs March 21, 2016 Lyndon Nelson, a senior official at the prudential regulation authority (PRA), is among a small number of candidates being interviewed to take over as governor of the banking watchdog. Nelson is a contender to replace Andrew Bailey, who was recently appointed as the next chief executive of the Financial Conduct Authority (FCA), according to Sky News. He [...]
Chocolate giant Cadbury and owner Mondelez hit back over Dispatches claims of recipe changes and job losses March 21, 2016 Cadbury owner Mondelez has hit back at claims the confectioner has changed the recipe for its iconic product, Dairy Milk, and accused Channel 4's Dispatches programme of being one-sided and misleading. Cadbury was bought by Mondelez when it was known as Kraft in 2010, in a controversial hostile takeover. According to Dispatches, thousands of jobs [...]
