No days off for junior staff at Morgan Stanley January 22, 2014 INTERNS and junior staff should not be made to take weekend days off, Morgan Stanley’s chief executive James Gorman said yesterday, breaking ranks with other investment banks. The boss said it is not practical to have fixed days off, instead saying the welfare of staff is down to “common sense” from their managers. “These folks get [...]
Fidelity enters fund platform price war with lower charges January 22, 2014 INVESTOR group Fidelity yesterday made a bold entrance into the fund price war by undercutting rival Hargreaves Lansdown. The UK fund company, which was originally spun out of US-based group Fidelity Investments, said it would charge customers a tariff of 0.35 per cent to use its fund supermarket, lower than the 0.45 per cent charge [...]
Fastest internet connection ever recorded in UK January 22, 2014 THE FASTEST ever broadband speed has been achieved during a test in London by BT and Alcatel-Lucent. The joint team said speeds of 1.4 terabits per second were achieved during the test on a 255 mile link between the BT tower in central London and Ipswich – enough to send 44 uncompressed HD films in [...]
Jenkins warns global economy still at risk January 22, 2014 BARCLAYS chief executive Antony Jenkins yesterday warned global markets would remain at risk of a repeat of the global financial crisis until the end of the decade. “It’s very difficult to argue that the financial system is not safer than it was in 2008, but the question is how much safer is it,” he said [...]
Walkie Talkie owner to submit plans to fix ray January 22, 2014 PROPERTY giant Land Securities said yesterday that it is close to submitting plans to solve the Walkie Talkie’s ultra-bright reflective rays that dazzled passers-by and melted parts of nearby cars last summer. Chief executive Rob Noel said it will submit a planning application to fix “the solar glare issue” to the City of London next [...]
Analyst Views: Has Land Securities’ update changed your outlook for the group? January 22, 2014 ALISON WATSON | LIBERUM This is a solid statement. Management reports further pre-letting progress within its development pipeline, a rise in central London occupational demand and positive trends in its retail portfolio. Whilst this supports our expectation of a gradual recovery in the retail market, we forecast a return to only benign growth. KEITH CRAWFORD [...]
Highest court throws out legal challenge to High Speed Two January 22, 2014 CAMPAIGNERS against High Speed Two have lost their final legal appeal in the UK after two years of fighting the rail project in the courts – though one group pledged to appeal to the European authorities. Transport minister Baroness Kramer said the unanimous decision in the Supreme Court yesterday “fully vindicated” the government’s work on [...]
Property industry calls for urgent changes to water bill after floods January 22, 2014 A GROUP of property industry experts are calling on the government to rethink its plan to provide affordable flood insurance, claiming that thousands of households will be excluded. Ministers have been working with the insurance industry on a solution to costly premiums in areas where flooding is commonplace. The Flood Re agreement will cover 500,000 households, but [...]
UK car output hits fresh high January 22, 2014 BRITAIN produced more than 1.5m cars last year, putting the industry in sight of the output peak of the 1970s, figures out today show. The number of cars rolling off UK production lines rose 3.1 per cent to reach the highest level since 2007. “UK automotive investment announcements exceeded £2.5bn in 2013, reinforcing industry analysts’ [...]
Dyson expansion to create 3,000 jobs January 22, 2014 UK engineering firm Dyson has announced a £250m investment to double the size of its research centre in Wiltshire and hire 3,000 engineers. The company, founded by James Dyson (pictured), said yesterday that it had “drawn up a blueprint” for the largest expansion in its 20 year history.
