Investment by UK businesses supports one million US jobs August 4, 2015 The UK is the largest foreign investor in the US, new research from the Confederation of British Industry (CBI) reveals today. At the end of 2013, the UK had $519bn (£333bn) in the US, $200bn more than the next largest investor. The CBI estimates that 962,900 jobs are supported by investment from UK firms. The UK [...]
Designer of Greek crisis plan James Galbraith warns bailout deal is destined for failure August 4, 2015 The latest Greek bailout deal is destined for failure, an economist who helped engineer the cash-strapped country’s controversial currency crisis plan has warned. Negotiations on Greece’s third bailout plan – which would grant the country up to €86bn (£60.4bn) – have been ongoing since last week. “Nobody wants this deal,” Professor James Galbraith told City [...]
Jeremy Corbyn loses lead in betting odds as Corbynomics comes under fire from Labour MPs August 4, 2015 Left-wing Labour leadership candidate Jeremy Corbyn has lost his lead in the betting markets amid attacks from senior members of his own party. Bookies from Ladbrokes, William Hill and Betfair all told City A.M. that Corbyn had dropped out of pole position yesterday, leaving Andy Burnham as the odds-on favourite to replace Ed Miliband. [...]
Commodities in freefall as China faces slowdown August 4, 2015 Mining stocks were dealt a body blow yesterday, with one index dropping to a 13-year low, as Chinese manufacturing PMI data dragged the commodities market down yet again. The data, which came out yesterday morning, showed that the downturn in China’s manufacturing sector intensified at the start of the third quarter. Production was cut at [...]
Tom Hayes receives 14 year jail term in Libor-fixing scandal as MPs call for bank bosses to face prosecution August 4, 2015 A jury sent shockwaves through the City yesterday when it convicted former UBS and Citigroup trader Tom Hayes of eight counts of conspiracy to defraud in connection with the Libor-fixing scandal. Justice Jeremy Cooke sentenced the 35-year-old former City worker to 14 years in jail for his part in the manipulation of the Libor [...]
We’re ready for season, insists Terry August 4, 2015 CHELSEA captain John Terry has played down fears that the Premier League champions are undercooked for the start of their title defence following Sunday’s Community Shield defeat to Arsenal. The Blues have one more fixture remaining, against Fiorentina tomorrow, but have so far failed to win a pre-season match in 90 minutes as they prepare [...]
Peaty ends GB’s 40-year wait for world champion August 4, 2015 BRITAIN’S Adam Peaty set his sights on further success in Rio de Janeiro next year after becoming the country’s first 100m breaststroke world champion for 40 years yesterday in Russia. The Staffordshire 20-year-old pipped Olympic gold medallist Cameron van der Burgh by seven hundredths of a second, having trailed the South African for the whole [...]
Athletics chief laughs off medal reallocation talk amid dope storm August 4, 2015 WORLD athletics chief Lamine Diack has described suggestions that Olympic and World Championship medals should be redistributed following fresh doping claims as “a farce” and “a joke”. The 82-year-old, who is stepping down as IAAF president this month and could be succeeded by Britain’s Lord Coe, also stressed that irregular blood test results were not [...]
Recruiter reports an increase in new women on FTSE 350 boards August 3, 2015 MORE women are being appointed to the boards of leading UK firms than ever before, according to a new report out this week. Korn Ferry, a major talent consulting firm, compiled the number of individuals appointed to non-executive director positions at FTSE 350 companies, finding that 39 per cent of first-time appointees last year were [...]
Manufacturers struggle amid weak demand August 3, 2015 GROWTH in the UK’s manufacturing sector was sluggish in July, new survey data reveal, as firms struggle to export. It contrasts with robust manufacturing growth in the Eurozone, with Italy seeing the sector’s fastest expansion for four years. However, Eurozone exports also suffered from weak global demand. The widely watched UK Markit manufacturing purchasing managers’ index [...]
