PSA agrees to buy Vauxhall and Opel from GM: What happens to UK jobs now? March 6, 2017 French firm PSA has confirmed its €2.2bn (£1.9bn) deal to buy General Motors' European unit, including Vauxhall. And all eyes have been on PSA boss Carlos Tavares, who has a reputation for being an efficient cost-cutter, for clues as to what it will mean for jobs. Vauxhall's UK plants in Luton and Ellesmere Port employ 4,500 workers. Read more: [...]
Labour’s leadership crisis reaches a third day, with almost 50 parliamentary resignations and a motion of no confidence set for this afternoon June 28, 2016 Labour's leadership crisis has reached a third day with fresh resignations coming ahead of a vote on a motion of no confidence in Jeremy Corbyn later today. Corbyn is widely predicted to lose in a non-binding vote of Labour MPs this afternoon, with results expected to be announced around 5:00pm. The vote itself will not [...]
Pensions are at risk from Brexit, David Cameron warns June 12, 2016 State pensions could be put at risk if Britain voted in favour of leaving the European Union Prime Minister David Cameron has warned. Free buss passes and TV licenses for pensioners would also be at risk from a "black hole" in the public finances, as would National Health Service and defence spending, he said. The government's commitment [...]
Lord Heseltine says that Britain will eventually join the euro ahead of the EU referendum June 21, 2016 Lord Heseltine has said he believes that the UK will eventually join the euro, as Brits prepare to vote in the EU referendum later this week. Speaking during a lively debate with Ukip leader Nigel Farage on LBC this afternoon, the former deputy prime minister and In campaign spokesperson, Lord Heseltine, said: "I think that there will come [...]
City Moves for 2 March 2017 – who’s switching jobs? March 2, 2017 Today's City Moves cover commodities platforms, pensions and tourism. Take a look at these movers and shakers: Kynetix Matt Dolton has been appointed chief executive of Kynetix, a leading provider of platforms which connect financial markets to the physical economy. Matt is one of the co-founders of Kynetix and has been spearheading the company’s strategy [...]
The government has given “categorical assurance” that blockchain technology will not be used to monitor benefit claimants after trial with Govcoin, Barclays and Npower | City A.M. March 27, 2017 Lord Henley, parliamentary under-secretary for the department of work and pensions (DWP), has given “categorical assurance” that blockchain technology will not be used to monitor or control those claiming benefits after a small scale trial of the technology for making payments. “The department of work and pensions has absolutely no access to any claimant information [...]
British steelworkers vote in favour of Tata’s reforms to pensions February 15, 2017 Steelworkers in three unions have voted in favour of proposals that will see their pensions benefits cut. The proposals will see Tata Steel pump £1bn into the sprawling Port Talbot steelworks in exchange for workers accepting changes to their pension schemes. More than 70 per cent of the steelworker members of GMB, Community and Unite [...]
Tory race should come down to experience July 6, 2016 By Thursday night we'll know which two Tory MPs will face a ballot of the party membership. One will emerge as David Cameron's successor in No 10. Five aspiring PMs entered the first round of voting yesterday, and now just three remain. Liam Fox was the first to fall. Having stood unsuccessfully for the party [...]
Starter for 10: Think tank report urges Stephen Crabb to take on a Universal Challenge May 3, 2016 Stephen Crabb may just be settling into his new role as secretary of state for work and pensions, but a report published today is urging him to take on George Osborne and crew over universal credit. The study by think tank the Resolution Foundation warns that universal credit risks not meeting the goals it was proposed for if [...]
Peugeot and Citroen owner PSA agrees €2.2bn deal to buy European operations of Vauxhall owner March 6, 2017 PSA, the firm that owns Peugeot and Citroen, has agreed a deal to buy rival the European operations of Vauxhall's European parent General Motors. A press conference has been scheduled in Paris today with more details on the merger valued at €2.2bn (£1.9bn) to be revealed. Read more: PSA will honour commitments to Vauxhall plants [...]