UK’s Eurostar stake up for sale as George Osborne looks to raise £300m October 13, 2014 The government is looking for a buyer for its 40 per cent stake in the cross-channel Eurostar to raise up to £300m. Chancellor George Osborne has invited bidders for the train operator, which is also owned by the French state-owned rail operator SNCF and the Belgian state-owned SNCB, and hopes to finalise the sale during [...]
Row in the City as Boris vows to cut EU migration October 13, 2014 BORIS Johnson took the fight to UKIP yesterday, pledging to introduce a points-based immigration system or else quit the EU altogether. But his promise sparked a war of words between business groups and MPs as some backed his plan while others want firms to be allowed to hire the workers they need. “In the renegotiation, [...]
Mark Carney says bank chiefs should put up with new jail threat law October 13, 2014 Bank of England governor Mark Carney yesterday brushed off the concerns of bankers who are quitting the industry over plans that could see senior executives sent to jail. “If you are the chairman or the head of the risk committee, you have a responsibility for the activities of that institution,” said Carney, speaking in the [...]
Chuka Umunna: Labour will cut tax for firms who lift wages October 13, 2014 Firms who pay their low-paid staff a higher wage should get tax breaks, Labour’s Chuka Umunna said yesterday, ahead of a debate in the House of Commons over the minimum wage. The shadow business secretary will call for an £8 per hour minimum wage, a new mandate for the Low Pay Commission (LPC) to push [...]
Richard Branson: How passion can change your life October 12, 2014 Buzzwords can get tiresome, and “passion” is one that’s thrown around liberally. We’re told it pays to be passionate in our jobs, and that passionate leadership is the best kind. But however fed up most might feel with the word, Richard Branson has always been passionate about passion – arguing it got him to where [...]
Tesco board to lose two members as chief exec Dave Lewis continues to rebuild October 12, 2014 Tesco is said to be losing two of its most senior executives, as the beleaguered supermarket looks to rebuild from the shock revelation of a £250m profit overstatement last month. Company secretary Jonathan Lloyd is reported to have resigned, while the chairman of the audit committee Ken Hanna is said to be stepping down [...]
Christine Lagarde and Mario Draghi call for German fiscal stimulus to avoid recession October 9, 2014 International Monetary Fund (IMF) boss Christine Lagarde took aim at German policy makers yesterday, suggesting that the Eurozone’s biggest economy must use fiscal stimulus to stave off recession. “We’re not suggesting that the Eurozone is heading toward recession, but we’re saying there is a serious risk that happens if nothing is done. But we are [...]
Eurozone inflation rate: Mario Draghi calls on governments to help fight deflation October 9, 2014 Mario Draghi is determined to tackle low inflation in the Eurozone, and has called upon governments to also play their part in the fight against possible deflation. The president of the European Central Bank (ECB) today announced a new package of credit easing measures, including targeted long-term refinancing operations and a bond-buying programme. [...]
Mark Zuckerberg: Facebook has no plan to monetise WhatsApp October 9, 2014 Mark Zuckerberg has admitted Facebook does not have a plan to monetise WhatsApp, following its $22bn takeover which completed this week. The deal was initially agreed way back in February, yet Facebook has not yet worked out how to make money out of the instant messaging service which currently has 600m users. Currently [...]
Christopher Bailey tops OUTstanding list of LGBT business leaders as Goldman Sachs and JP Morgan bosses make straight allies cut October 8, 2014 Two of the world’s best known names in banking have shattered any perceptions of stuffy conservatism by featuring in lesbian, gay, bisexual, and transgender (LGBT) professional network OUTstanding’s top 10 straight allies’ list. Goldman Sachs boss Lloyd Blankfein came in second with JP Morgan’s Jamie Dimon not far behind in sixth, recognising the contribution the [...]