SME overdrafts fall off as banks adhere to new rules May 22, 2016 LENDING to small businesses via overdrafts is falling by £100m a month as SME bank overdrafts die out, says Funding Options, the online business finance supermarket. At the end of March this year, SMEs were borrowing £12.1bn in bank overdrafts, compared to nearly £14bn at the end of September 2014, a fall of 13 per [...]
Tuilagi and Farrell included in England’s squad to tour Australia despite injury May 22, 2016 England head coach Eddie Jones admits Manu Tuilagi’s involvement in next month’s tour of Australia remains on a knife-edge despite naming the powerhouse centre in his travelling party. Tuilagi, who has been restricted to just one Test appearance in almost two years by a combination of injury and suspension, hurt a hamstring in the Tigers’ [...]
Uber’s driverless cars have hit the roads May 19, 2016 Uber is the latest company to get its driverless car plans into gear, with test vehicles hitting the roads of Pittsburgh, the location of its Advanced Technologies Centre. The billion dollar startup is embracing more technology with Ford Fusion cars which drive themselves. The head of the research centre John Bares told the Pittsburgh Tribune [...]
Keydata’s former compliance officer banned by watchdog, but £200k fine dropped May 19, 2016 The City watchdog has today banned the ex-compliance officer of Keydata Investment Services from performing any function related to regulated financial activities. The Financial Conduct Authority (FCA) found that Peter Johnson failed to act with integrity, and misled the Financial Services Authority (FSA) – the FCA's predecessor – on a number of occasions. Johnson also would have been fined £200,000, [...]
History suggests robots won’t cause mass unemployment: But is this time different? May 19, 2016 Martin Ford’s book, The Rise of the Robots: Technology and the Threat of Mass Unemployment, makes for scary reading. Ford argues that any job that is in some way routine will eventually be automated. In Ford’s new world, intelligent algorithms will eat their way through white collar employment, making legions of occupations obsolete. And this [...]
These are the UK’s most attractive employers May 13, 2016 Rolls Royce has topped a list of big companies that Britons want to work for. The automotive aerospace giant fared well on criteria such as salary and employee benefits, long-term job security and a pleasant working atmosphere. British Airways and Marks & Spencer took second and third place respectively, followed by car companies BMW and Jaguar Land [...]
Eddie Jones dangles tour carrot in front of eight England training camp newcomers May 8, 2016 England head coach Eddie Jones insists there is still time to gatecrash his squad for the summer tour to Australia after summoning eight uncapped players to a 26-man training camp this month. They include New Zealand-born Northampton back-row Teimana Harrison, Harlequins prop Kyle Sinckler, Bath lock Charlie Ewels and London Irish wing Alex Lewington. Sale [...]
Before the bell: What you need to know before the US market open May 3, 2016 Oil prices are falling and Australian central bankers are getting jumpy. Here's what you need to know before the US markets open. Markets look set for a sharply lower open, following their European counterparts southwards. Many seem to have taken the old adage of "sell in May and go away," to heart it seems. S&P [...]
Estee Lauder plans shake-up of its beauty empire as third quarter sales rise May 3, 2016 Estée Lauder has announced a shake-up of its beauty empire that will result in up to 1,200 job losses, after posting a rise in third quarter sales. The company, which owns brands including Jo Malone, M.A.C and Clinique, said the strategy, called Leading Beauty Forward, was aimed at simplifying the business and cutting costs in an attempt to boost [...]
Why are car-makers getting the cold shoulder from investors? Well, why not? May 3, 2016 What is the most unloved sector in the global equity market? First off, you might think of oil, which is beset by huge oversupply imbalances despite the recent bounce inspired in great part by bullish financial speculators. Possibly you might plump for banks, which are seeing their net interest margins scythed by increasingly desperate central bankers [...]