France still committed to “very important” Hinkley Point, says Emmanuel Macron April 17, 2016 France has said it is still committed to building new reactors at Hinkley Point power plant, despite worries over how the project will be funded. Emmanuel Macron, France's economy minister, told the BBC's Andrew Marr Show that it remained "completely committed" and the project was "very important" on Sunday morning. EDF, partly owned by the French state, has [...]
Global glut led by China’s production boom sees sun set on UK steel industry April 12, 2016 Britain used to be synonymous with steel, but in the past year multiple rounds of harsh job cuts and high-profile pullouts from foreign companies have left the sector struggling to survive and its future uncertain. Around 18,000 people are directly employed in Britain's steel sector, of which 15,000 are employed by Tata Steel. But the [...]
Green Flag boosts Direct Line Insurance Group to gross written premium growth May 4, 2016 Direct Line Insurance Group reported a boost to its gross written premiums in its first set of quarterly results for 2016, thanks in part to continued growth in its Green Flag partnership. The insurer revealed that gross written premiums from ongoing operations had grown by 4.2 per cent to £777.8m in the three months to March [...]
New FCA boss: Time to end banker-bashing May 9, 2016 Banker-bashing: it's one of the UK's favourite hobbies. But now the soon-to-be boss of the Financial Conduct Authority (FCA), Andrew Bailey, has said it's time to start using the carrot, rather than the stick. In a speech today, Bailey – who is expected to take up his new post shortly – said although changes have taken place in the [...]
The apprenticeship levy could be a disaster May 4, 2016 Manufacturers have a strong track record and a vested interest in providing quality apprenticeships in the UK. Which is why it’s worth listening when they say that there are serious flaws in the Government’s new apprenticeship levy that could derail the scheme when it is rolled-out. In its current state the levy will be detrimental [...]
City Moves for 9 March 2016 | Who’s switching jobs March 9, 2016 Quinn Emanuel Urquhart & Sullivan Quinn Emanuel Urquhart & Sullivan has announced that Kate Vernon will join the firm as a partner based in the London office. Kate had been a partner at DLA Piper where she was head of the UK competition team. Kate has represented clients in both follow-on and standalone competition claims [...]
Financial services have prospered inside the EU: Brexit would only see the City shrink June 21, 2016 How we vote on Thursday will have an impact on the whole country, but on Britain’s financial services industry in particular. There will, of course, be an immediate reaction in the markets. But Thursday’s decision will also help determine the future size and shape of our financial sector. Financial services are important because they are Britain’s single [...]
Liberty House to open another steelworks in June May 16, 2016 Commodities investor Liberty House is planning to re-open its seventh steelworks in as many months in June, the company announced today. The company is set to restart steel pipe and tube manufacturing at Tredegar in the South Wales Valleys, which was closed last year, and the re-opened plant will form the latest link in a [...]
Members of the European Parliament just voted to introduce a bitcoin and cryptocurrency regulator May 26, 2016 Members of the European Parliament (MEPs) have called for the creation of a cryptocurrency watchdog to combat money laundering and terrorism. The EU Commission should set up a taskforce to monitor virtual currencies, such as bitcoin, to prevent their use in money laundering or terrorist financing, the European parliament said in a non-binding resolution today. The proposal, set [...]
Stamp duty charges: The UK housing market needs more homes not more taxes April 1, 2016 Anyone waking up today who is planning or close to purchasing a second home may well feel as if an April fool's trick has been played on them. Whether helping a son or daughter get onto the housing ladder, investing in a buy-to-let property or buying a holiday residence, from today an additional three per [...]