HSBC freezes hiring and pay across the entire business to cut costs January 31, 2016 HSBC is imposing a global hiring and pay freeze for 2016 in an effort to cut costs. The bank sent an email to staff on Friday outlining the changes, according to a source close to the bank. HSBC, which is Europe's largest lender, is in the middle of a major cost-cutting drive, with management looking to save up [...]
London mayoral election 2016: Labour candidate Sadiq Khan attacks Conservative candidate Zac Goldsmith over housing policy January 28, 2016 Labour mayoral candidate Sadiq Khan was on the offensive tonight at the first official hustings event in the race for City Hall, as he attacked Conservative rival Zac Goldmsith over housing policy. Khan and Goldsmith participated in a public debate organised by the London Chambers of Commerce and Industry (LCCI) at the London School of Economics. The debate also [...]
EU referendum: Prime Minister David Cameron will reportedly discuss an emergency brake on migration with European Commission President Jean-Claude Juncker January 28, 2016 Prime Minister David Cameron will reportedly discuss a new so-called emergency brake rule to curb migration when he meets European Commission President Jean-Claude Juncker tomorrow in Brussels. Downing Street revealed yesterday that Cameron had cancelled a trip to Denmark and Sweden this week and would instead sit down with Juncker for crunch talks ahead of next [...]
TSB results: Chief executive Paul Pester says the big banks have it far too easy as his challenger bank reports 22 per cent increase in customer lending for 2015 January 28, 2016 TSB Bank chief executive Paul Pester told City A.M. that the challenger bank "definitely went from strength to strength" in 2015, as the lender announced its full-year results this morning. The retail and commercial bank, which was carved out of Lloyds Banking Group in 2014, reported profits were ahead of expectations, with management profit before tax of £105.7m, while [...]
UK jobs and skills gap: UKCES says skills shortage has reached unprecedented levels, as one in four listed jobs remain unfilled January 28, 2016 Employers are increasingly unable to find people with the skills or knowledge to fill jobs, according to a major new report out today. The UK Commission for Employment and Skills (UKCES) annual survey found that despite an increase in the number of job openings, the number of positions left vacant because employers cannot find qualified [...]
Google tax: European Commission sets out new proposals to crack down on tax avoidance January 28, 2016 The European Commission will today put forward new proposals to crack down on tax evasion and avoidance, as UK politicians continue to spar over Google’s tax payments. Pierre Moscovici, the EU commissioner for economic and financial affairs, taxation and customs, is expected to lay out a series of legally-binding measures intended to close loopholes in [...]
EU referendum: Prime Minister David Cameron cancels trip to Denmark and Sweden to meet with European Commission President Jean-Claude Juncker January 27, 2016 Prime Minister David Cameron has cancelled a trip to Denmark and Sweden this week and will instead sit down with European Commission President Jean-Claude Juncker for crunch talks ahead of next month's European Council meeting. Downing Street said this afternoon that the Prime Minister will travel to Brussels on Friday to meet one-on-one with Juncker to [...]
PMQs today: Prime Minister David Cameron turns tables on Labour over £130m Google tax deal January 27, 2016 Prime Minister David Cameron was forced to defend the government's approach to collecting corporation tax today after Labour leader Jeremy Corbyn questioned Google's £130m back taxes deal. "We're talking about tax that should have been collected under a Labour government, raised by a Conservative government," Cameron said at Prime Minister's Questions (PMQs). "No government has done more than [...]
CBI director-general Carolyn Fairbairn says UK businesses is still too geared to men, wants one in four senior executives to be women January 27, 2016 British businesses are still too "geared up" for men, Confederation of British Industry (CBI) director-general Carolyn Fairbairn will say this week, as she calls on firms to do more to promote women to senior leadership roles. In a speech tomorrow at City law firm Latham & Watkins, Fairbairn will say that companies need to look "beyond boards" and focus [...]
