Mitsubishi admits employees falsified data on fuel economy tests in Japan April 20, 2016 Japanese car manufacturer Mitsubishi has admitted its employees falsified fuel economy tests data, but has assured that no European or UK vehicles are affected. The company confirmed that fuel efficiency tests broke Japanese rules in at least 600,000 of its vehicles, of which 157,000 part of its own-brand light vehicles and 468,000 were vehicles produced for Nissan. [...]
Making global local: Maxus’s Lindsay Pattison talks India, inequality and the long term April 18, 2016 "Media is the fastest growing area of marketing. We are the link now between advertising and sale, and everyone wants a piece of the action,” says Lindsay Pattison, global chief executive of Maxus. The fourth arm of WPP’s Group M – the world’s largest advertising media company, which buys one in every three adverts sold – [...]
London black taxis vs Uber: This is cabbies’ big plan to save the industry – and they want the new Mayor of London on board April 4, 2016 London's black cab drivers want to offer superfast WiFi to passengers travelling across the capital and have taxi ranks outside every Night Tube stop as part of new efforts to keep the taxi industry competitive. Under increasing pressure from upstart Uber, a new group has been formed bringing together cab drivers, the company manufacturing black cabs – the London Taxi [...]
Budget 2016: George Osborne’s speech in full March 16, 2016 George Osborne has just revealed the Budget for 2016. There was good news for businesses with corporation tax being sliced and business rates being reformed – but bad news for smokers and students who hate maths. Mr Deputy Speaker, Today I report on an economy set to grow faster than any other major advanced economy in [...]
This Budget is Osborne’s chance to simplify tax and defend globalisation March 16, 2016 There are two threads – one general, the other highly specific – which I should like to see weaved into the fabric of the chancellor’s Budget statement today. First, a clear defence of globalisation and, second, firm action towards the long overdue merger of income tax and National Insurance. Despite what purists might regard as [...]
Psychology of Donald Trump: Why the US has gone mad for this demagogue March 14, 2016 It has become the curse of the current social season. Arrestingly, wherever I am speaking or consulting in Europe, once the people I am mingling with realise I am both a Republican and a person for whom – at least until a few moments before – they had some regard, the same depressing pattern repeats itself. Almost [...]
From the best US barbecue restaurants to the Senior Bankers’ Regime: What got you reading this week March 11, 2016 1. US barbecue restaurants City A.M. readers are clearly experiencing wanderlust: our US roadtrip sampling 32 of the US' most mouth-watering barbecue restaurants stormed to the top of our rankings this week. Find out where was finger-lickin' good here. 2. Another supermarket sweep Asda and Morrisons' share of of the market fell further this week – while sales at [...]
Facebook acquires Masquerade, the creator of MSQRD, the app that Cara Delevingne used to swap faces with Leonardo DiCaprio March 9, 2016 Facebook is acquiring Masquerade, the creator of the MSQRD app. The app allows users to place filters, masks and special effects on selfies and videos. Facebook’s move for Masquerade has been seen as another challenger to Snapchat. Read more: Facebook taking on Snapchat with disappearing messages This is not the first time Facebook has been seen [...]
Why Mario Draghi is in a bind over negative interest rates March 8, 2016 What a difference a few weeks make. Sentiment has improved and fears of imminent recession now appear a touch hasty. But the question of where markets head next still depends on policy-makers’ ability to deliver decisive action. Step forward Mario Draghi, who is expected to tinker with the Eurozone’s financial plumbing this week in the [...]
Night Tube: Aslef’s London Underground drivers vote in favour of latest TfL deal after months of negotiations March 7, 2016 After months of negotiations Tube drivers have voted overwhelmingly in favour of accepting the latest deal offered by Transport for London. The London Underground drivers, who are members of the union Aslef, voted with a majority of nearly nine-to-one in favour of the latest pay and conditions terms offered by TfL around the Night Tube [...]