Speedo and Ralph Lauren ditch Ryan Lochte in wake of American swim star’s Rio “robbery” row August 22, 2016 American swimming star Ryan Lochte has been dumped by trunk-maker Speedo after he admitted to exaggerating claims that he and team-mates were robbed at gunpoint during the Rio Olympics. Luxury fashion retailer Ralph Lauren also said it would not be renewing its endorsement deal with Lochte, while other sponsors said they were reviewing their positions. [...]
The public sector’s vast bank of unused land is a national disgrace August 22, 2016 So Brexit means that overseas demand for London property will decline, prices will fall and the housing crisis will ease, right? Think again. Whatever the effects of Brexit on London house prices, short or long term, the basic problem persists: the capital faces a chronic shortage of homes. Demand for all but the most expensive [...]
Jeremy Corbyn’s Labour should focus on growth above inequality August 22, 2016 It used to go without saying that growth matters. But if former US Treasury secretary Larry Summers now feels the need to take to the pages of the FT to make the “progressive case for economic growth”, it shows just how far other issues, whether inequality or climate change, have come to dominate the thinking [...]
Andrea Leadsom’s campaign manager has admitted “rookie mistakes” in the MP’s failed Tory leadership bid August 22, 2016 A high-profile interview which saw Andrea Leadsom accused of attacking Theresa May for not having children was “a cock up”, her former campaign manager has admitted. Speaking at the Edinburgh Festival last weekend, Conservative MP Tim Loughton claimed Leadsom was being “set up” by journalists, but maintained the decision to give the interview was “a [...]
Classic cars, fine wine, coins and racehorses: One in six investors now has money in a “hobby” investment August 22, 2016 Call them sentimental, but more and more investors are turning their pastimes into profits, according to a new study from Lloyds Private Banking. One in six investors now cultivates a "hobby investment", spending on average £13,500 on a single item, though one in 10 is willing to splash out £50,000 on an individual item. The most popular [...]
New poll claims the skills shortage is crippling the construction industry August 22, 2016 The skills shortage in the construction sector is at “breaking point” according to a new survey of project managers and contractors. Six in ten senior decision-makers in the industry said they believed the quality of their work was suffering due to a lack of experienced staff, while one in ten said low supply of skilled [...]
Britons abroad have had an expensive summer – here’s how much the nation overspent due to the Brexit vote August 21, 2016 Britons on holiday abroad have overspent to the tune of roughly £500m this summer due to the fall in the value of sterling. Recent retail sales figures from the Office of National Statistics (ONS) showed Britons spent more than expected after the EU referendum – but retail strategist Richard Hyman said "when the suntan starts to fade, they will [...]
Post Office workers are going on strike as the CWU demands government steps in over job losses August 19, 2016 Another day, and another strike has been announced – this time by Post Office workers, who have voted to go on strike over job losses. In a statement today the Communication Workers' Union (CWU) said 83.2 per cent of those balloted had voted for industrial action to protest against cost-cutting measures. “Staff in the Post [...]
Top ONS economist: Brexit recession still possible August 19, 2016 The top economist at the Office for National Statistics (ONS) has warned it is too early to rule out the prospect of a recession, despite a flurry of strong post-referendum indicators. Joe Grice, ONS chief economist told Bloomberg this morning there were still too many pieces of the puzzle to put together and would not like to [...]
Public finances falter following EU referendum August 19, 2016 Government income shrunk in July with tax receipts missing expectations in the first sign of a post-referendum hit to the public finances. The government ran a surplus of £977m in July, according to figures published this morning by the Office for National Statistics (ONS), though this was down on predictions for a £1.9bn windfall and [...]