John Lewis is named the retailer with the strongest reputation March 19, 2015 Middle-class shoppers’ favourite John Lewis was yesterday declared the retailer with the best reputation in Europe, the Middle East and Africa (EMEA), a survey found. The survey, by the Reputation Institute, also showed that among the firms whose reputation had improved the most between 2013 and 2014 were WH Smith and H&M. However, there was bad [...]
Bill Gates and Michael Bloomberg set their sights on tobacco industry March 19, 2015 Two titans of capitalism have combined efforts to launch a new front in their war against the tobacco industry. Microsoft founder Bill Gates and ex-New York Mayor Michael Bloomberg are throwing their weight behind a scheme to help governments of poorer nations defend anti-tobacco laws from legal challenges. The assault on tobacco has been ongoing [...]
David Lammy says London’s economy cannot rely on financial services March 19, 2015 Labour’s David Lammy last night laid out his economic vision for London if he becomes its next Mayor. He called for a diverse economy, less reliant on financial services. The Tottenham MP was careful not to attack the City, where he has previously worked. He wants London to have a more balanced economy with jobs [...]
BT hits back at Ofcom over new broadband rule March 19, 2015 Telecoms giant BT slammed its industry regulator for taking a “lopsided” approach to the UK market. Industry watchdog Ofcom yesterday confirmed it was going ahead with a new pricing rule, coming into effect on 1 April. The rule means BT must maintain a sufficient margin between its wholesale and retail superfast broadband fees, in order [...]
Short supply of homes fuels rocketing UK rents and house prices March 19, 2015 A short supply of housing and a recovery in economic fortunes is pushing up rents and house prices. Average monthly rates stood at £766 in February, up 3.1 per cent on last year, according to figures released today by estate agents Your Move and Reeds Rains. London saw the second greatest annual rise in the [...]
Watchdog PRA puts up banks’ fees to pay for tough new regulations March 19, 2015 The Bank of England’s financial regulator is putting up its fees to the industry this year to cover the cost of a swathe of new rules. The prudential regulation authority (PRA) yesterday proposed a four per cent increase in its charges to £257.8m, up from the £246.8m it charged in the financial year 2014-15. The [...]
Travis Perkins plans 400 new stores as housing market grows March 19, 2015 Travis Perkins has announced plans to create 4,000 jobs by opening 400 new branches across the UK over the next four years. The majority of the positions will be outside London and the south east and consist of apprenticeships for younger people, branch managers, assistant managers, skilled IT professionals and supply chain specialists. The builders’ [...]
Andrew Haldane: Bank of England must “stand ready” to cut interest rates if outlook for deflation markedly worsens March 19, 2015 The Bank of England's chief economist has said it must "stands ready" to cut record-low interest rates further, if the risk of the economy falling into a prolonged period of deflation intensifies. "In my view, that means policy needs to stand ready to move off either foot in the period ahead to meet the symmetric [...]
Most consumers aren’t feeling the benefits of Osborne’s recovery March 19, 2015 George Osborne used yesterday's Budget to trumpet the government's economic record. With a dramatic fall in unemployment, respectable economic growth and low inflation, the Conservatives believe they have strong record to run on. Osborne labelled Britain the "comeback country" and said the government had brought the UK back from the brink. But how many consumers [...]
Liam Fox: Tories should freeze all spending except defence and health March 19, 2015 George Osborne should freeze all non-discretionary spending in the next parliament and "share the proceeds of growth" between tax cuts and deficit reduction. So said the former defence secretary and backbench Tory MP Liam Fox this morning. The former Conservative leadership contender flipped the phrase once used by David Cameron to argue that tax revenue [...]