EU backtracking on ISDS: Most controversial part of TTIP could be scrapped March 20, 2015 The EU may scrap the most controversial part of the Transatlantic Trade and Investment Partnership (TTIP). EU trade commissioner, Cecilia Malmstrom, has voiced her support for replacing the Investor-State Dispute Settlement (ISDS) with a permanent investment court. The ISDS is a mechanism that sets the ground rules for foreign companies investing in other countries. It [...]
Ex-Moore Europe Capital employee Julian Rifat sentenced to 19 months for insider trading March 19, 2015 Former Moore Europe Capital employee Julian Rifat was sentenced to 19 months imprisonment at Southwark Crown Court yesterday for insider trading. Rifat has also been fined £100,000 for the same offences and ordered to pay costs of £159,402. He was the third individual to be sentenced for insider dealing offences since the launch of Operation [...]
Knickers in a twist over sale of 1954 Ferrari March 18, 2015 What am I bid for a High Court battle between billionaire lingerie boss Les Wexner and auction house Bonhams over the ownership of a vintage car? The Victoria’s Secret owner paid almost £11m for the 1954 Ferrari 375-Plus at the Goodwood Festival of Speed last summer. However, Wexner says he was unaware of an ongoing [...]
Budget 2015: The stories that broke during George Osborne’s speech March 18, 2015 The announcement of the UK government’s annual budget is one of the biggest dates in the financial calendar. City hacks' ears were tuned into George Osborne’s speech this lunchtime, as eyes were glued to Twitter for all the breaking hot takes on the chancellor’s tie colour and fingers were madly typing away to produce a [...]
Ryanair charters towards launch of first flights to United States March 16, 2015 IRISH airline Ryanair has its eyes set on America and will begin pursuing transatlantic possibilities, the company reported yesterday. The flight service known for its “no-frills, low-cost” currently operates in 30 countries in Europe and North Africa, and is looking to expand to 12 to 14 cities in the United States. “European consumers want lower [...]
Avoiding political clashes at work March 16, 2015 Consider an office policy, and don’t assume others’ points of view in the run-up to the election. It's often said that you should never discuss religion or politics in public, but this may well prove hard over the coming months. As the General Election campaign builds momentum, high profile individuals (and there are many [...]
As MPs say UK surveillance lacks transparency, should we be worried about being snooped on? March 12, 2015 Jim Killock is executive director of Open Rights Group, says Yes Yes, we should be worried. If you run a business, have commercial secrets, or rely on secure communications like VPNs, there is a lot to be concerned about. UK data is shared with the US so there is little protection for your political or [...]
Here are the eight new 20mph zones that Transport for London is introducing this year March 12, 2015 London is about to get eight new 20mph zones as Transport for London attempts to cut road casualties by 40 per cent in the next five years. The first confirmed location will be Commercial Street in Tower Hamlets, with the limit coming into force in April. The pilot will run for 18 months and will [...]
Randy Work joins Roman Abramovich and Sir Chris Hohn with multi-million pound divorce settlement March 10, 2015 London cemented its reputation as the divorce capital of the world after a businessman was ordered to pay his ex-wife £72.3m, amounting to half his wealth. Randy Work, a former private equity executive at Lone Star, argued that his £150m fortune should be protected from ex-wife Mandy Gray as he was the “breadwinner” and because [...]
Canada’s Ivanhoe Cambridge snaps up City property for £170m March 10, 2015 CANADIAN pension fund Ivanhoe Cambridge yesterday bolstered its presence in the UK after snapping up 3 Minster Court, off Fenchurch Street, in the City for £170m. The real estate arm of Caisse de Depot et Placement du Quebec – one of Canada’s leading fund managers – has been on the hunt for prime assets to [...]