All aboard the blame train: Government, regulator and train firms all failed in rail chaos September 20, 2018 The government, regulators and the owner of the rail network were all part of a comedy of errors which led to chaos on Britain’s railways earlier this year, according to a review of the disruption published today. The report by Office of Rail and Road (ORR) boss Stephen Glaister into the chaotic timetable change which [...]
Danske Bank head quits after giant money laundering scandal September 19, 2018 The chief executive of Danske Bank today resigned after the publication of a damning report into the money laundering scandal which has rocked the lender. Thomas Borgen said that it has been "clear to me for some time" that he would have to resign, after lax controls on money laundering in the bank's Estonian [...]
Danske Bank head quits after giant money laundering scandal September 19, 2018 The chief executive of Danske Bank today resigned after the publication of a damning report into the money laundering scandal which has rocked the lender. Thomas Borgen said that it has been "clear to me for some time" that he would have to resign, after lax controls on money laundering in the bank's Estonian [...]
City regulators demand banks and insurers reveal plans to move away from Libor September 19, 2018 The City's top regulators today demanded banks and insurers tell them their plans for moving away from the Libor rate used in contracts worth trillions of pounds. Firms are currently contemplating how to transfer often complex contracts and systems referencing the rate onto new benchmarks before 2021, when the scandal-hit Libor may become defunct. The [...]
City regulators demand banks and insurers reveal plans to move away from Libor September 19, 2018 The City's top regulators today demanded banks and insurers tell them their plans for moving away from the Libor rate used in contracts worth trillions of pounds. Firms are currently contemplating how to transfer often complex contracts and systems referencing the rate onto new benchmarks before 2021, when the scandal-hit Libor may become defunct. The [...]
Inflation driven to six-month high by fuel and package holiday prices September 19, 2018 Inflation in the British economy rose at its fastest rate in six months in the year to August, with increases in prices of petrol and package holidays among the main contributors to price growth. The consumer price index (CPI) tracking inflation rose by 2.7 per cent compared to last year, according to the Office for National [...]
Inflation driven to six-month high by fuel and package holiday prices September 19, 2018 Inflation in the British economy rose at its fastest rate in six months in the year to August, with increases in prices of petrol and package holidays among the main contributors to price growth. The consumer price index (CPI) tracking inflation rose by 2.7 per cent compared to last year, according to the Office for National [...]
M&G Investments adds to pressure on Unilever to back down on abandoning London PLC September 18, 2018 M&G Investments today became the latest major investor to threaten to vote against Unilever's decision to abandon its London PLC in favour of a new Dutch holding company. The maker of Marmite and Dove soap is under severe pressure from City investors, who fear they could be forced to sell the shares in funds limited [...]
M&G Investments adds to pressure on Unilever to back down on abandoning London PLC September 18, 2018 M&G Investments today became the latest major investor to threaten to vote against Unilever's decision to abandon its London PLC in favour of a new Dutch holding company. The maker of Marmite and Dove soap is under severe pressure from City investors, who fear they could be forced to sell the shares in funds limited [...]
Tit-for-tat Trump tariffs to take trans-Pacific trade toll September 18, 2018 The trade war between the US and China escalated today as the world’s two largest economies imposed tit-for-tat tariffs on goods worth hundreds of billions of dollars. The Chinese commerce ministry said it had to retaliate against America's decision to levy 10 per cent tariffs on $200bn (£150bn) worth of Chinese goods from 24 September [...]
