Oracle chief executive Safra Catz to take lead role in Donald Trump’s transition team December 15, 2016 US President-elect Donald Trump has added another business executive to his circle of advisers, with Oracle chief executive Safra Catz joining the executive committee of his transition team. Catz will remain at the California-based software giant, according to Reuters. She had been present at a meeting of technology business leaders earlier in the week at [...]
A £50bn Brexit bill could face the UK before it leaves the EU, according to the European Commission’s chief negotiator, Michel Barnier December 15, 2016 It could cost the UK £50bn to extricate itself from the EU if the European Commission’s chief negotiator has his way. Michel Barnier has indicated to multiple parties in the negotiation that the UK will have to pay between €50bn and €60bn (£50bn) in money still owed from earlier commitments, according to reports by Sky [...]
Brexit negotiations will take 10 years says UK ambassador to the EU as Theresa May is shut out of European Council summit dinner December 15, 2016 Trade negotiations over Brexit could take as much as 10 years, according to the UK’s ambassador to the EU. Sir Ivan Rogers privately briefed government officials that European diplomats believed a deal would not be completed until the middle of the next decade, according to the BBC. At a meeting of the European Council summit [...]
Euro reaches lowest level against dollar since 2003 December 15, 2016 THE EURO hit its lowest point since the start of 2003 against the dollar yesterday as the Federal Reserve’s plans for tightening monetary policy added further momentum to the greenback’s surge since the election of Donald Trump as US President. The euro/dollar spot exchange rate hit a low of $1.0367 in afternoon trading before recovering [...]
Where to find the best tea and cake in the City of London this International tea day December 15, 2016 NULL
US Federal Reserve raises interest rates to target rate of 0.5 to 0.75 per cent, with “gradual increases” to come in 2017 December 14, 2016 The US Federal Reserve has raised interest rates and set the scene for a further tightening of monetary policy throughout 2017. Rate-setting body the Federal Open Market Committee (FOMC) raised the target range for its federal funds rate to 0.5 to 0.75 per cent. The median expectation of FOMC members for tightening showed three further increases [...]
Early Christmas giveaway goes spectacularly wrong for Greece as EU suspends debt support December 14, 2016 The Greek government’s efforts to give its pensioners a big Christmas present has backfired spectacularly, after a key party in its economic bail-out suspended its debt relief programme. Greece’s government, led by Prime Minister Alexis Tsipras, had planned to spend €617m (around £517m) on a bonus payment to the poorest pensioners after protestors were teargassed [...]
Southern rail strike misery costs millions as 300,000 commuters left stranded December 14, 2016 The economy is facing a hit of tens of millions of pounds as 300,000 commuters are left stranded this week on the back of three days of walkouts by staff on Southern rail. Southern rail commuter services ground to a halt yesterday on a double whammy of walkouts by guards from the Rail, Maritime and [...]
Donald Trump appoints ardent oil fan Rick Perry as head of Department of Energy December 13, 2016 President-elect Donald Trump has chosen Rick Perry, an ardent believer in removing restrictions on oil drilling, as the head of the US Department of Energy. Perry served as governor of Texas for 14 years, during which he was a strident opponent of environmental regulation on oil production, a major part of the Texas economy. Perry [...]
Russian hacking to influence Brexit vote is “highly probable” says Labour MP Ben Bradshaw December 13, 2016 It is “highly probable” that Russian hackers attempted to influence the result of the EU referendum, according to a Labour MP. Ben Bradshaw, the MP for Exeter since 1997, told Parliament that he suspected Russian hackers had followed similar tactics to those used the US election campaign. However, he admitted that proof for his claim [...]
