Spending growth through shopping vouchers – should central bankers be trying new things? July 26, 2016 Over the last few months the term helicopter money – once only used to mock former Fed chair Helicopter Ben – has become common place. For that we can thank the Bank of Japan and its increasingly desperate attempts to kick start growth, culminating this Friday with its latest policy meeting. Many economists are expecting the Bank of Japan [...]
Good news for Sam Allardyce as Richard Scudamore confirms talks ongoing to introduce winter break into the Premier League July 26, 2016 Premier League executive chairman Richard Scudamore says there is a willingness amongst authorities to introduce the winter break called for by new England manager Sam Allardyce. England's non-stop football calendar, which in contrast to Germany, Spain and France only pauses for international fixtures, has long been cited as a possible disadvantage to the England team at major international tournaments. Read more: Tottenham's travels down under [...]
Orange SA misses expectations but gets profit boost from EE sale July 26, 2016 Orange SA – France's largest telecoms company – has posted a sharp rise in its first-half profits due to the sale of its UK network EE to BT. Net profit climbed to €3.17bn (£2.65bn) in the first half, pushed higher from the £12.5bn EE sale. Revenue also climbed thanks to strong sales growth in Spain. It rose by 2.7 per cent to €20.8bn. [...]
Calls grow for major reform of business governance and pay ratios July 26, 2016 British business is facing fresh pressure to undergo major reform, with Prime Minister Theresa May pledging to overhaul capitalism and revamp corporate governance. The influential Institute of Directors (IoD) has added to the clamour for change by calling for a review of corporate governance, while the Investment Association will today call for greater pay disclosure [...]
Chris Froome dampens Tour de France frenzy and switches focus to securing Olympic gold July 25, 2016 Britain's Chris Froome attempted to douse the flames of expectation as the furore surrounding his third Tour de France win continued to sizzle. The 31-year-old was crowned Tour champion in Paris on Sunday to become only the eighth rider in history, and the first Briton, to seal victory in the race three times. Team [...]
Hailo to merge with MyTaxi to take on Uber July 25, 2016 Cab-hailing app Hailo is expected to announce a merger rival app MyTaxi tomorrow. The move is part of a strategic investment by Mercedes-Benz-owner Daimler – the owner of MyTaxi – it was first reported by Sky News. Hailo has been seeking further funding for some time, having had only enough cash to support itself for [...]
Sir Philip Green is threatening legal action against the chair of a parliamentary inquiry into the collapse of BHS July 25, 2016 Retail tycoon Sir Philip Green is threatening to sue work and pensions committee chair Frank Field over some of his comments relating to the collapse of BHS. Green has appointed law firm Schillings, who today wrote to Field demanding an apology within 24 hours. The lawyers claim Field accused Green of stealing money from the BHS and Arcadia pension funds in an [...]
Short gap between Majors could play into hands of in-form Henrik Stenson at US PGA Championship July 25, 2016 This week’s US PGA Championships is going to have go some to match the Open, which was by any measurement the best golf we have ever seen at a Major tournament. The two tournaments wouldn’t normally be so close in the calendar, but golf’s return to the Olympic Games means that the gap between the [...]
Top executives to be put under further pressure to disclose pay ratios July 25, 2016 Britain’s largest companies will be pressured into publishing the ratio between executive and average workforce pay by a working party report to be released tomorrow. A working party set up by the Investment Association – which includes key business leaders – will recommend such disclosure of boardroom pay, but will stop short of making it compulsory, according to Sky [...]
Bon voyage? Ryanair to “pivot” growth away from UK and towards EU following Brexit vote July 25, 2016 Ryanair has confirmed it is shifting its strategy away from the UK in a trading statement this morning, which also revealed a modest boost to profits and revenue. The figures The company announced profits before tax for the three months to June of €286.5m (£239m), up three per cent on last year's €277.8m. Meanwhile, revenue also grew [...]