Head regulator says that financial services are moving away from simplistic rewards structures October 17, 2013 Chief regulator Martin Wheatley told an audience that he has seen signs of improvement in the UK's financial services industry. The financial conduct authority (FCA) chief executive said early analysis suggested "three of the biggest UK banks have removed the direct link to sales in incentive arrangements for front line staff in retail branches, and [...]
Snooker star Ronnie O’Sullivan warns of housing crash October 17, 2013 Fives times World Snooker Champion Ronnie O'Sullivan has pledged not to talk snooker on his Twitter account anymore, but will focus on "running and financial terrorism". Right no more talking snooker.. Only gonna talk running and financial terrorism — Ronnie O'Sullivan (@ronnieo147) October 17, 2013 Yesterday O'Sullivan tweeted a stream of critiscisms of government [...]
Government urges low pay commission to consider youth unemployment in minimum wage decision October 17, 2013 The government has urged the Low Pay Commission to consider the impact of the national minimum wage (NMW) on youth unemployment, in its interim evidence for the Low Pay Commission's 2014 report published earlier today. The report cites the broader macro-economic climate, as reason to carefully examine NMW effects on employment: Pre-recession trend growth is [...]
“Ask British Gas” descends into chaos October 17, 2013 After announcing a price hike this morning, British Gas have opted to host a Twitter Q&A session about the 9.2 per cent bill rise. It's shaping up to be one of the social media mistakes of the year. We're here with Customer Services Director, Bert Pijls, who will be answering your questions until 2pm. Tweet [...]
EE’s brand mastermind announces departure October 17, 2013 Steven Day, chief of brand and communications at network operator EE, has announced that he'll be leaving by the end of the year. Day won't be replaced, having been the architect of the EE brand. He was responsible for its creation, articulation and delivery. Prior to that role he was chief of staff, brand and [...]
EU’s Barnier defends cap on bankers bonuses October 17, 2013 EU financial services commissioner, Michel Barnier, has told the British Bankers Association that a cap on bonuses will help ensure stability in the financial sector and that the proposal is legally sound. Barnier told the industry group I remain confident that the measures are balanced and reasonable, in the interests of financial stability. And that [...]
Crime against households at lowest point since records began October 17, 2013 The latest crime figures from the Office for National Statistics (ONS) show crime against households and resident adults is at the lowest point in the history of the survey. The figures which were for England and Wales, showed a seven per cent fall, and is at its lowest point since 1981 and is less than [...]
British Gas announce 9.2 per cent price rise October 17, 2013 Centrica owned British Gas has announced a 9.2 per cent price rise fro this November. That follows a recent increase by competitor SSE, of 8.2 per cent (release). British Gas electricity prices will rise by 10.4 per cent, and gas prices by 8.4 per cent from 23 November. Today’s announcement, which will add about £2 [...]
US downgraded to A- by Dagong October 17, 2013 Chinese ratings agency Dagong has downgraded US foreign currency credit ratings from "A" to "A-". The agency cited the "long-term failure" of the US "to pay its excessive debts". More details and analysis on the liveblog.
Public expect rate hike within two years as Bank’s Dale says one may come in 2014 October 17, 2013 The proportion of the public expecting a rise in interest rates has increased significantly according to a new poll by Markit. The poll conducted by Ipsos-MORI between 11-14 October found that 69 per cent of people asked expected rates to rise within two years, a 14 percentage point rise from the previous poll in August. [...]
