Balfour Beatty rejects Carillion merger for the second time August 15, 2014 Infrastructure firm Balfour Beatty has reaffirmed its rejection of a merger with Carillion. Balfour's board said it had considered the potential for synergies, risk of revenue and cost leakage and the impact of terminating the Parsons Brinckerhoff sales process. However, it came to the conclusion that an independent strategy, all the benefits of which will [...]
Bitcoin market is the “wild west”, says US regulator August 14, 2014 A US government agency has warned consumers that they may be stepping into the "Wild West" when entering the cryptocurrency market. The Consumer Financial Protection Bureau released a report this week saying cryptocurrencies have potential benefits, but the public needed to be wary when entering the world of digital currencies. The agency highlighted the principle [...]
Scottish independence: Trident move could be cheaper and easier than previously thought August 14, 2014 If Scotland votes for independence in September's referendum, the future of the UK's Trident nuclear submarines may not be as uncertain as was previously thought. According to a new report from the Royal United Services Institute (RUSI), moving the Trident submarines out of Scotland would be "very difficult but not impossible". The report's authors said [...]
Uber banned in Berlin in latest taxi app crackdown August 14, 2014 Uber has been banned in Berlin, according to a press release from the State Office for Public Order of affairs. The press release, issued on Wednesday, said the app-enabled service was in violation of the Passenger Transport Act. The headline of the press release was titled "prohibition order to protect the public". The company has [...]
Carillion board tries to woo Balfour Beatty with cost-cutting plan August 14, 2014 A merger between Carillion and Balfour Beatty could save as much as £175m a year, according to a statement issued by the infrastructure giant today. The two businesses met on Monday (August 11) to discuss the move, with “significant synergies” between the two businesses having been identified, Carillion said. This includes cost savings [...]
Uber vs Lyft: Battle over false order claims escalates August 13, 2014 The bitter battle between ridesharing apps Uber and Lyft has been driven to new levels of intensity with both sides accusing the other of foul play. The gloves came off last week when San Francisco start-up Lyft, famous for its eccentric pink moustaches on car bonnets and recommendation that passengers greet their driver with a [...]
Interest rate rise will be gradual and limited, says Mark Carney August 13, 2014 The Bank of England (BoE) has raised its 2014 growth forecast from 3.4 per cent to 3.5 per cent. However, those hoping for a rapid rise in rates will be disappointed thanks to weaker than expected growth in wages. The Bank now expects earnings to rise by just 1.25 per cent for 2014. [...]
Scottish independence: Danny Alexander will continue to oppose currency union in case of yes vote August 13, 2014 Danny Alexander will continue his opposition to a formal currency union if Scotland votes for independence in September's referendum. Speaking in a BBC 2 debate on independence, Alexander said: If you join a currency union, what you are doing is you are giving up the ability to set your own interest rates, you are giving [...]
Admiral appoints Geraint Jones as new CFO August 13, 2014 The owner of confused.com has announced the appointment of Geraint Jones as group chief financial officer (CFO) and executive director of Admiral Group, with effect from 13 August. Geraint, who has been with Admiral since 2002, will take over from Kevin Chidwick who will now focus on his US role as CEO of Elephant Auto [...]
Iraq crisis unlikely to lead to rising oil prices, says IEA report August 12, 2014 Despite a slew of international crises the price of oil is unlikely to rise in the near future thanks to rising production from North America, according to the International Energy Agency's (IEA) monthly report. The advance of Islamist militants in northern Iraq and the increasingly unstable situation in Libya have put many investors on edge [...]
