Lufthansa names telecoms boss to lead expansion of its Ryanair rival Eurowings December 7, 2016 German airline Lufthansa has plumped for a telecoms boss to drive expansion at its budget airline Eurowings. The board appointed Thorsten Dirks, chief executive of Telefonica Deutschland, to take over from Karl Ulrich Garnadt who's retiring from the board on 30 April next year. Dirks will take charge of Eurowings from 1 May. The airline [...]
Steady as she goes from Spreadsheet Phil November 24, 2016 It can't have been easy for George Osborne to watch his successor abolish one of the former chancellor’s favourite political devices. Philip Hammond ended his sober assessment of the public finances yesterday by declaring that the Autumn Statement will be no more. “No other economy makes hundreds of tax changes twice a year, and neither should [...]
Here’s how the Autumn Statement will affect your local pub November 23, 2016 Without mentioning the pub industry directly, the Autumn Statement laid out a handful of policies that will affect the sector. Here are the industry's top concerns. Increasing the National Living Wage will hurt pubs Wages for over-25s will rise 30p to £7.50 per hour in April 2017, and the rates of National Minimum Wages will increase as [...]
Here are the winners and losers from today’s Autumn Statement November 23, 2016 It's been a rough day for the UK's economic forecasts, but the revelations from chancellor Philip Hammond's first Autumn Statement weren't all bad. Here are some of the biggest winners and losers from the speech: Winners Companies will be cheering after Hammond confirmed that he will be cutting corporation tax to 17 per cent by 2020. [...]
Autumn Statement TL;DR? Here’s our at-a-glance guide November 23, 2016 Chancellor Philip Hammond spoke for around an hour while delivering today's Autumn Statement. If you don't have time for that, here's our at-a-glance overview of the announcements you need to know: Economics, public spending and politics The Office for Budget Responsibility (OBR) forecast for growth increased to 2.1 per cent, up from two per cent, for 2016, but [...]
Autumn Statement 2016 will be the UK’s last November 23, 2016 The Autumn Statement is being abolished, chancellor Philip Hammond said today. "This is my first Autumn Statement and it will also be my last," he told MPs in the House of Commons today. He is introducing a Spring Statement, and an Autumn Budget instead. Hammond said he would not introduce significant economic and financial changes [...]
Savers will be offered new government-backed investment bond next year November 23, 2016 Savers will be offered a new government backed investment bond at the next Budget, the chancellor said today. The three-year bond will offer a 2.2 per cent interest rate on deposits of up to £3,000, and will be available through NS&I. It will be open to those aged 16 and over, available for 12 months from spring [...]
Tandem is go: Another digital challenger bank has opened its doors November 4, 2016 Tandem, one of a handful of the UK’s digital challenger banks hoping to give the big four a run for their money is opening its doors for business, City A.M. can exclusively reveal. The Tandem mobile banking app will begin rolling out from today to those who have already signed up, with ambitious plans to make [...]
The Lifetime Isa: New clarifications are good news for first-time buyers, but do nothing to solve its conflict with pensions September 21, 2016 The Treasury released final details last week on the Lifetime Isa (Lisa) which launches in spring 2017. Aimed at two very different types of savers – first-time buyers and retirees – the updates mostly concern the first group, and will do little to silence critics who say that the Lisa will lure away people who could [...]
At the close: EasyJet brightens up drab day in the City August 19, 2016 It's August. It's raining. It's Friday. It was never going to be easy for the traders still at their desks to get going. And it showed, with the FTSE 100 yawning to a 0.2 per cent loss for the day, clocking off at 6,858. That was down slightly on the week after the bluechip index [...]