Read more: Businesses could be hit with £1,000 levy per EU worker after BrexitAs well as the fun to be had in quoting Carney’s own chief economist at him, this Brexit-backing duo also took heart from the governor’s observation that if the EU tries to extract too high a price during the negotiations it will likely hurt itself more than it hurts us. This is a perspective that some in the City (and indeed, plenty on the continent) have voiced ever since the vote last summer. Put simply, the EU faces too many problems of its own to take its frustrations out on the Brexit negotiations. For example, there is currently nowhere else in Europe than can provide EU businesses with the kind of capital, financing or services that the City of London offers. It may pain them to admit this, but if Carney can see it then so can they.Trump’s Russia file gets Twitter excitedThe dodgy report on Trump, put together by an ex-spook, certainly got people talking this week. The document alleged that the Russian intelligence agency, the FSB, had a file on the President-elect, detailing his unconventional sexual tastes. Just as the story was breaking, some Twitter users got excited by a post that said “Read the full FSB report here”. Imagine their disappointment at finding the latest survey of members by the Federation of Small Businesses.Read more: US intelligence services deny leaking explosive Trump dossierWhat comes next for City’s £200m grandee?One of the City’s top dogs, Michael Spencer, has cashed in over £200m worth of shares in TP Icap after selling the voice-broking business to Tullett Prebon in a deal worth over £1bn. So the only question is, what does he do next? A source tells me his investment focus will be on fintech and all things disruptive. We can expect news in the coming months. Let’s just hope this renowned wine-buff still has the time to host his famous City lunches… whatsapp Think you’re a winning trader?Maybe you think “how hard can it be?” or maybe you do it for a living, but City A.M.’s new investment challenge gives you a chance to trade without losing your cash. With Shard Capital Stockbrokers we’re offering three challenges where you can pit your wits against other City A.M. readers, trading as much and as often as you want to achieve the highest virtual returns. Hundreds have already signed up and the best will win prizes. Search for ‘City AM Investment Challenge.’This is not the best way to get aheadAll politicians like good media coverage. There are no exceptions to this rule. Similarly, political staff enjoy pleasing their bosses by delivering on that coverage. This is best achieved by the politician being free-thinking, original, insightful or controversial. However, one over-eager staffer jumped the gun and emailed one of our journalists this week saying “is there anything XXXX could say that would generate maximum coverage?” Desperate times… Editor’s notes: Carney can see what EU officials refuse to: that they need the City Christian May Mark Carney isn’t the kind of man to lose his temper in public. Perhaps he isn’t even the kind of man to lose his temper at all. Still, if he was ever to come close to doing so it may well have been at this week’s Treasury Select Committee hearing, where he once again came up against his old Brexit sparring partners, the Tory MPs Jacob Rees-Mogg and Steve Baker.Rees-Mogg can pull off the trick of combining effortless good manners with withering criticism, while his colleague Baker likes to engage the Bank’s governor in heavy, technical economic debate. At the most recent outing, it was Rees-Mogg quoting the Bank’s chief economist, Andy Haldane, that may have got under Carney’s skin. After all, Haldane has basically just apologised on behalf of the Bank of England for getting the pre-Brexit economic forecasts so wrong. He may as well have said “I apologise on behalf of Mark Carney”. When Rees-Mogg quoted Haldane the governor could only snap back that it was his own actions at the bank that prevented the gloomy predictions from coming true. More than one Twitter user enjoyed this exchange, as did Baker, who later lamented the fact that “Jacob beat me to it”. Friday 13 January 2017 6:27 am Share whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemMisterStoryWoman files for divorce after seeing this photoMisterStoryAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorSportPirateMeet The Woman Catherine Bell Is Dating At 52SportPirateZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldmoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It LoveTotal PastThis Woman’s Obituary Was So Harsh, Her Son Was Left ReelingTotal Past
US President Donald Trump has urged the heads of car companies to boost production in the US and promised to slash “out of control” regulations to attract more investment.Trump yesterday also signed executive orders for construction of the controversial Keystone XL and Dakota Access oil pipelines, which had been thrown into doubt under his predecessor Barack Obama over environmental concerns. Wednesday 25 January 2017 12:04 am Donald Trump urges car giants Ford, General Motors and Fiat Chrysler to build new plants in the US whatsapp Vowing to revive the US manufacturing industry, Trump backed the pipelines as long as American steel was used.Read more: Trump bump: US manufacturing activity expands at fastest rate since 2014Paving the way to fast track other infrastructure projects, he signed another executive order to slash environmental reviews that he described as an “incredibly cumbersome, long, horrible permitting process.”In his meeting with the chief executives of General Motors, Ford and Fiat Chrysler, Trump suggested he would overhaul regulations as part of a bid to entice the car makers to build new plants.Read more: Hyundai and General Motors up US investment in the wake of Trump tax threat whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsSwift VerdictChrissy Metz, 39, Shows Off Massive Weight Loss In Fierce New PhotoSwift VerdictHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekLiver Health1 Bite of This Melts Belly And Arm Fat (Take Before Bed)Liver Health Share Steven Scott More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.com “We want regulations, but we want regulations that mean something,” Trump said.Trump has previously attacked carmakers for moving plants offshore and threatened to impose a 35 per cent tariff on imported vehicles.The three bosses – GM’s Mary Barra, Ford’s Mark Fields and Fiat Chrysler’s Sergio Marchionne – later praised Trump’s decision to abandon the 12 nation Trans Pacific Partnership (TPP) trade deal, which they said was not tough enough on currency manipulation by Asian countries.Read more: Xi and Trump have fired the opening salvoes of the coming trade war“We’re very encouraged by the President and the economic policies that he’s forwarding,” Fields said.Trump’s focus on business policies came as the Nasdaq Composite ticked to a record high yesterday, closing at 5,600.96 points.
Share whatsapp Labour Party suspends former MP as anti-semitism row shows no sign of quieting down The Labour Party’s ongoing anti-semitism row has hit the headlines again today following the suspension of a former MP over a social media outburst.Jim Sheridan, who lost his parliamentary seat in 2015, was alleged to have said he had lost his respect and empathy for the Jewish community and their suffering “due to what they and their Blairite plotters are doing to my party and the long-suffering people of Britain who need a radical Labour government.” More From Our Partners 980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.org whatsapp Sebastian McCarthy Saturday 18 August 2018 1:13 pm The former Paisley and Renfrewshire North MP’s suspension by the Labour Party comes amid growing questions around Jeremy Corby’s stance of anti-semitism.Read more: Mayor of London warns capital must prepare for no-deal BrexitLast week the Labour leader came under fire after saying he did not think he was “actually involved” in a wreath-laying ceremony held near the graves of founders of the Black September terrorist group, despite photographs proving that he was.A statement from the party earlier today said: “The Labour Party takes all complaints of anti-Semitism extremely seriously and we are committed to challenging and campaigning against it in all its forms.Read more: Pound sinks to 11-month low after Liam Fox’s no deal Brexit warning”All complaints about anti-Semitism are fully investigated in line with our rules and procedures and any appropriate disciplinary action is taken.”
The reality is that things happen in life that we can’t predict. We’ve seen situations at Moneybox where people want to take their money out early for all sorts of reasons.They may have met someone who already owns a home, chosen to invest in their education, or decided to move to another country – normal life events that are penalised under the current rules.The second quick fix would be to either remove the £450,000 house price cap, or link it to house price inflation. Friday 31 August 2018 10:30 am whatsapp The average first home in London is £420,000, which means the average Londoner risks becoming ineligible and potentially facing the withdrawal penalty with just a small rise in prices.If both changes were brought in now, I think uptake would fly and many of the seven million potential first time buyers in the UK would have a real helping hand in saving for their deposit.But what if the government were to combine the Lifetime Isa, self-invested pensions, and workplace pensions under one “Super Isa” umbrella? You could then add a first home purchase as an allowable withdrawal event.For those that take up the house buying option, swapping stock market exposure for housing market exposure is probably no bad thing over the long term. Alongside this could be a regular Isa used for easy-access shorter term goals.Whether it’s the small tweaks, or a more radical rethink, we’d love to see some changes included in the next budget. Reducing the penalty to 20 per cent would mean you only lose the bonus. Swapping stock market exposure for housing market exposure is probably no bad thing over the long term whatsapp Ben Stanway It’s never been harder for young people to get on the property ladder, and yet they’re not being given the tools or information they need.The Lifetime Isa was supposed to help, but ended up leaving a lot of people confused. While some are calling for it to be scrapped altogether, I think the Lifetime Isa has a future – and a stellar one at that. The simple changes that could save the Lifetime Isa Share With just a few small changes, this ugly duckling become the default option for most young savers.First, cutting the early withdrawal penalty from 25 per cent to 20 per cent would be the first easy fix, and would encourage more people to sign up.At the moment, potential customers – who are often in their twenties – are reluctant to commit to this new Isa. And from our experience, this penalty is one of the main reasons why.Say you put £1,000 into a Lifetime Isa, you’ll be entitled to the 25 per cent bonus, taking your savings up to £1,250.But if you want to take your money out early, you’ll be charged a 25 per cent penalty on the whole amount. So that’s 25 per cent of £1,250. That leaves you with £937.50 which is less than you put in to begin with. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likemoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryTrading BlvdThis Picture of Prince Harry & Father at The Same Age Will Shock YouTrading BlvdHouse CoastPregnant Beggar Was Asking for Help, But Then One Woman Followed HerHouse CoastBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldHealthyGemBaby Has Never Eaten Sugar Or Carbs, Wait Till You See Her TodayHealthyGemBeverly Hills MDPlastic Surgeon Explains: “Doing This Every Morning Can Snap Back Sagging Skin” (No Creams Needed)Beverly Hills MDGive It LoveThese Twins Were Named “Most Beautiful In The World,” Wait Until You See Them TodayGive It Love
Former Stobart Group chief executive Andrew Tinkler has reduced his stake in the company after being sacked over a boardroom bust up earlier this year. Tinkler, who was fired from the board after an unsuccessful attempt to topple chairman Iain Ferguson in July, has sold part of his 7.7 per cent stake in £800m infrastructure company.Read more: Stobart Group appoints female director in aftermath of boardroom disputeHis stake in the company, which has expressed a desire to dilute Tinkler’s shareholding as soon as possible, has now dropped to 6.93 per cent.The Southend Airport owner fired its former boss in July after Ferguson as chairman with 51.2 per cent of the vote, despite Tinkler putting forward The Edinburgh Woollen Mill owner Philip Day for the role.The pair then traded lawsuits with Tinkler, the logistics firm accusing its former boss of acting in his own self-interest to “line his own pockets”. Callum Keown whatsapp Former Stobart boss reduces stake in company after being sacked in boardroom bust up Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryBetterBe20 Stunning Female AthletesBetterBemoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comRest Wow68 Hollywood Stars Who Look Unrecognizable NowRest WowWTFactsHe Used To Be Handsome In 81s Now It’s Hard To Look At HimWTFactsZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen Heraldzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comBridesBlushThis Is Why The Royal Family Kept Quiet About Prince Harry’s Sister BridesBlushOceandraw29 Brides Who Took Their Wedding Gown Way Too FarOceandraw Read more: Passenger numbers soar at Stobart-owned London Southend AirportStobart claimed Tinkler had breached his contract and fiduciary duty to shareholders – the case is due to be heard next month – and Tinkler claimed his dismissal was invalid. Tuesday 2 October 2018 7:12 pm whatsapp Tags: Trading Archive
Jasper Jolly WITH Brexit negotiations reaching fever pitch, all eyes are fixed on the politicians wrangling over the UK’s new place in the world. But behind the scenes another battle is going on, with well-funded campaigns vying to attract business from the City of London.After more than two years of to and fro, a picture is now emerging of which locations across Europe will be the winners as companies establish new entities on the European mainland. The government has adopted the Bank of England’s estimate that 5,000 jobs will likely leave London because of Brexit, and more roles will be created abroad to service client needs.Read more: Sir James Dyson is a globalist, not a hypocriteWith less than six months to go until Brexit, the vast majority of major financial services firms now have plans in place to prepare for the worst possible outcome in their eyes – no deal – and have set about creating the structures to continue running their European operations when they lose the coveted Single Market passport.Frankfurt has emerged as the clear winner on the banking front, with 25 banks choosing the German financial capital as the base for a new office or subsidiary – far ahead of Paris, which has attracted eight. Wednesday 24 October 2018 1:07 am Macron has made a strong bid to promote Paris for investors (Source: Getty)The broad scope of the reforms matches Macron’s ambition, but also means that there is no single area where Paris can claim to have a lead. Geny-Stephann says the French capital has worked to attract anchor firms across different aspects of financial services – such as interdealer broker TP Icap, asset management behemoth Blackrock and US banking giant Citigroup, and fast-growing London-based exchange Aquis – not to mention the whole European Banking Authority.“It’s not about numbers or numbers of jobs,” says Geny-Stephann. “What we’d like to have in France is really the comprehensive ecosystem, the value-added.” One City heavyweight thinks Macron is too ambitious, and that he expects an arrival of finance jobs simply because he has stated the ambition as government policy. “It is a symptom of the French political mindset that if the President wills it, it will happen,” said the source – a French national who has worked in London for years. “In reality, French regulators are more measured in their expectations.”Scattered centresSmaller financial centres have had to go for more niche – but still important – aspects of the business concentrated in London. Luxembourg, for instance, positioned itself as the centre for fund management, although it went for a more understated approach than rival public relations campaigns.Nicolas Mackel, chief executive of Luxembourg for Finance, says his conversations with firms centred on political and economic stability, while also emphasising an ongoing relationship across the Channel, rather than wholesale business moves.“We already had a very strong relationship with London,” he says. “We understood very early on that firms weren’t going to move entire operations.”Read more: Lloyds Bank reportedly plans to set up insurance subsidiary in LuxembourgThe lobby group was also pleasantly surprised by a string of insurers choosing Luxembourg, drawn by a dedicated regulator for the sector. Mackel expects an overall gain of 3,000 jobs across the sector – although noting that he sees Brexit as overall negative for Luxembourg, with the EU losing one of its strongest advocates for financial services. This is a commonly-held view among finance professionals across the continent. The UK will be missed, even if a few crumbs fall from the Brexit table and into their lap.Amsterdam has chosen to leverage its credentials as a data transfer hub, targeting exchanges whose clients value millisecond advantages. It also offers extensive tax breaks for expats – although bonuses are capped at only 20 per cent of salary. Tags: Trading Archive Hubertus Vaeth, managing director of Frankfurt Main Finance, puts his city’s success with the banks down to a targeted approach.“We understood that we had very little chance with asset managers and we would not be the prime position for insurance,” he says. Instead, the lobby group launched a concerted charm offensive on 24 June 2016, the day after the vote, with Japanese and American banks in particular the objects of tailored presentations. The Catheral Notre-Dame in Luxembourg. The country had proved tempting to certain firms (Source: Getty)CBOE Global Markets, Nex, Tradeweb and Marketaxess and the London Stock Exchange Group have all chosen the city as a location for extra numbers, although it didn’t all go their way.Dublin, meanwhile, has made some headway among asset managers, with Ashmore and Bailie Gifford the latest to join a line setting up new operations across the Irish Sea, which includes Standard Life Aberdeen, Legal & General Investment Management, Hermes Investment Management and Legg Mason.Kevin Sammon, director of global corporate communications at IDA Ireland, the Irish development body, says around 40 companies in all have gone for Dublin. Their campaign focused on shared language and the common law system, unlike continental rivals with civil codes, as well as very business-friendly politics – Ireland has had a right-of-centre governments continually for almost a century.The group has also been “expanding its Brexit-focused conversations with investors” this year, looking at technology, life sciences, law and broadcasters, as well as financial services.Battles to comeWhile the battles for “day-one” job moves are mostly now decided, the fight for London’s prized clearing industry may prove the most controversial in the longer-term. Clearing houses act as middlemen in the trade of derivatives – used by firms to manage risks like currency and interest rate movements.Clearing is the most-prized target for some European politicians, with the London Stock Exchange Group’s LCH currently dominant in clearing euro-denominated derivatives. There remains a widespread desire on the mainland to pull the clearing business back into the Eurozone, both so the European Central Bank can supervise its vital functions, but also because of the symbolism and jobs attached to such a victory.Vaeth says Brexit “will change the landscape” for clearing, suggesting that moving clearing jobs out of London remains a key aim – particularly for Frankfurt-based Deutsche Boerse, whose merger with LSEG was effectively kiboshed by the Brexit vote.Read more: Frankfurt winning race with Paris for Brexit bank movesHowever, the so-called “location policies” have faced stiff opposition from the UK. Chancellor Philip Hammond has criticised “protectionist agendas, disguised as arguments about financial stability”, while the normally politically-reserved Bank of England has repeatedly called upon European counterparts to match its move tosecure cross-border clearing even in a no-deal scenario.The UK also has an ally in the head of the US Commodity Futures Trading Commission, Chris Giancarlo, who has repeatedly expressed concerns about the effects of location policies.There remains little clarity on what the future UK–EU relationship will look like. European lobbying groups insist they want to work closely with the UK after Brexit, even if that sits uncomfortably with their desire to target core areas of the City’s business.Nobody thinks the City will lose its crown, but it could lose a few jewels. whatsapp Read more: Air France–KLM looks at blockchain to cut costs for flyersParis is aiming for a “positive regulatory environment” with a bill aiming to boost finance – which includes temporary pension contribution exemptions for foreign employees and a new framework for derivatives markets. Share Yet even the longest-laid plans can go awry. The slick presentation was recently undermined by a misjudged animated video in which “Frank Furt” flirts with a woman at a bar, jarringly discussing the availability of international school places and airline connections while buying her drinks.Macron’s missionFor France, Brexit has coincided with another seismic political shift: a revolution in party politics, albeit one from the centre ground. Although highly critical of Brexit itself, President Emmanuel Macron has nevertheless used it to try to build up Paris as a financial centre.Macron, a former Rothschild and Cie banker, is personally invested in the efforts to attract business. At one meeting including the bosses of some of the world’s biggest global asset managers Macron singled out chief executives and challenged them on their reasons for not basing more operations in Paris, according to one person present.Fast-growing fintech firms, such as London-based banking services unicorn Revolut, have also been directly approached by the French government. At an event last month, finance minister Bruno Le Maire’s junior minister, Delphine Geny-Stephann, rolled out the red carpet to fintech firms, pitching directly for businesses to relocate or choose Paris as an investment destination.Geny-Stephann says France’s aim is to boost its “attractiveness and competitiveness as a whole” through “deep structural reforms”, with or without Brexit. Frankfurt has made an strong bid for UK companies (Source: Getty)The campaign has not coincided with any major changes, but Angela Merkel’s CDU did push through one potential incentive as part of this year’s coalition agreement: offering loosened dismissal protection for high-earning bankers.“We are not promising a bunch of flowers,” says Vaeth. “We are promising one rose, and delivering on it.” Behind the scenes, European cities are on a charm offensive to attract City jobs, finds Jasper Jolly The battle for London’s business: Behind the scenes, European cities are on a charm offensive to attract City jobs whatsapp
The trade body for UK investment managers has written to 32 companies on the Ftse-all share to register concern after they faced significant shareholder dissent for the last two years.The Investment Association (IA) said it was concerned that these companies had appeared on the public register, which tracks significant shareholder dissent, for the same reasons over the last two years. The IA said this suggests the companies named do not respond sufficiently to investor views and are risking more shareholder dissent in the future.Three of the companies are from the Ftse 100: advertising firm WPP, property developer Berkeley Group and pharmaceutical giant Astrazeneca.The public register tracks significant shareholder dissent (of more than 20 per cent) at company meetings and asks firms to respond to that dissent.The IA today launched a new repeat offenders list, highlighting those companies who experience year-on-year revolts for the same resolution.The register has revealed that an increasing number of companies are facing shareholder opposition, with rebellions up by nearly a quarter in 2018. So far in 2018, 287 individual resolutions have been added to the public register, a jump of 22 per cent form 2017. whatsapp Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeBetterBe20 Stunning Female AthletesBetterBeUndoMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoTotal PastJohn Wick Stuntman Reveals The Truth About Keanu ReevesTotal PastUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoNoteableyFaith Hill’s Daughter Is Probably The Prettiest Woman In The WorldNoteableyUndoMedical MattersThis Picture Shows Who Prince Harry’s Father Really IsMedical MattersUndomoneycougar.comDiana’s Butler Reveals Why Harry Really Married Meghanmoneycougar.comUndoinvesting.comThe Military Spent $1 Billion On this New Vehicle, And Here’s The First Lookinvesting.comUndo Tuesday 4 December 2018 11:58 pm Trade body says hardcore of ‘repeat offenders’ are failing to listen to investor views James Booth whatsapp Share Andrew Ninian, director of stewardship and corporate governance at the Investment Association, said: “Appearing on the public register should act as a warning to companies that their shareholders are concerned about an aspect of the company’s governance.He added: “We hope that the increased focus on these repeat offenders will encourage them to engage with their shareholders and ensure their concerns are being addressed. The risk if they do not is greater investor concern in the future.”A spokesperson for WPP which suffered a large vote against its compensation report at its 2018 AGM said: “The reason for the significant vote against the report was primarily discontent around the non-disclosure of the details and outcome of an investigation into an allegation of personal misconduct by Sir Martin Sorrell, the terms of his 2008 employment agreement, his subsequent resignation in April 2018, his contractual treatment as a retiree and the ‘good leaver’ treatment of his outstanding share awards.“The chairman and the company have engaged extensively with shareowners on the obligations of the Company and the historic and unique nature of the 2008 employment agreement, which have not been replicated in the employment terms of the new CEO of the company.” Tags: AstraZeneca Company FTSE 100 Martin Sorrell People WPP
It comes after economic sentiment in the euro area deteriorated sharply in December as weaker-than-expected data continued to weigh down the economy.Fears of a recession in Germany have also mounted after the country reported poor industrial activity in November.Today’s unemployment figures varied sharply among member states, with Germany’s unemployment rate as low as 3.3 per cent, Italy’s at 10.5 per cent and Spain’s as high as 14.7 per cent.“After a few months of stagnation in the job market, this is a relief as it indicates that uncertainty about the economic outlook and a slowing pace of growth has not caused employment growth to grind to a halt just yet,” ING economist Bert Colijn said.“With unemployment under eight per cent, it is likely that wage growth will continue to pick up – while this is positive from the perspective of consumers, it is looking to be increasingly problematic for businesses,” he added. Wednesday 9 January 2019 1:43 pm Callum Keown whatsapp Eurozone unemployment falls to decade low in shock boost for embattled bloc whatsapp Unemployment in the eurozone has dropped below eight per cent for the first time in a decade in a surprising boost for the embattled single currency bloc.The number of people unemployed fell by 90,000, with the rate dropping to 7.9 per cent in November from eight per cent in October, the EU’s statistical office Eurostat said – the lowest level since October 2008. The Czech Republic had the lowest rate at 1.9 per cent, while in Greece 18.6 per cent were without a job.The EU unemployment remained at 6.7 per cent – the lowest since monthly records began in 2000.CEBR senior economist Marina Mensah-Afoakwah said that while the figures would undoubtedly boost the bloc, the year ahead may be trickier, predicting growth to slow. She said: “It is impossible to ignore that fears of recession in Germany and global economic pressures continue to weigh down economic sentiment in the currency bloc and could put a strain on the Eurozone’s labour market in the year ahead.” Share Tags: Trading Archive
Share whatsapp Wednesday 24 April 2019 12:09 pm A group of influential Tory MPs will meet again today to discuss the possibility of ousting Theresa May as Prime Minister after talks last night failed to reach a decision.The 1922 committee is mulling a change to the party rulebook that would allow them to launch a fresh challenge against May, despite her winning a vote of no confidence last December by 200 votes to 117. Under the current rules, a leadership challenge cannot be launched until a year has elapsed since the last one. Backbench Tory MPs table further talks on Theresa May leadership challenge Alexandra Rogers whatsapp Some Tory MPs are keen to replace May after her decision to extend Article 50 – the mechanism that allows the UK to leave the EU – until 31 October. Recent polls have also indicated that the Conservatives are on a disastrous course ahead of next month’s elections to the European Parliament, where Nigel Farage’s new Brexit party is likely to gain ground.Read more: May breaks record for most unpopular Conservative minister everAround 70 Tory associations have also signed a petition calling for May to go.However, the BBC reported that there has been differences of opinion over whether another vote of no confidence should be allowed after six months rather than a year, depending on whether enough MPs demand it.Others are also concerned that changing the rulebook – which would set a precedent – would be unhelpful for other Tory leaders in the future. Meanwhile, talks between the Tories and Labour have resumed with both sides blaming each other for the continued deadlock.Labour leader Jeremy Corbyn attributed the lack of progress to the Prime Minister’s refusal to move her “red lines”, while May’s spokesperson said the talks were proving “difficult” and that progress was needed urgently to allow the UK to leave the EU as soon as possible. Read more: PM under fresh pressure to resign amid Tory grassroots rebellion Tags: Brexit Jeremy Corbyn Nigel Farage People Theresa May
Tuesday 17 September 2019 4:06 am This has been enabled by cheap fashion readily available, with clothes whose price tags do not show their hidden costs in terms of sustainability. Sustainability is not ignored: many of the brands accused of contributing to climate change are already running sustainability commitments, and even have in-store recycling programmes. Bill WirtzBill Wirtz is a senior policy analyst at the Consumer Choice Center. and Amelia WomackAmelia Womack is deputy leader of the Green Party of England and Wales. Main image credit: Getty Models present creations from fashion designer JW Anderson during a catwalk show for the Spring/Summer 2020 collection on the fourth day of London Fashion Week in London on September 16, 2019. (Photo by Niklas HALLE’N / AFP) (Photo credit should read NIKLAS HALLE’N/AFP/Getty Images) London Fashion Week is drawing to a close, but does fast fashion stand up to ethical scrutiny? From climate change and pollution to resource exploitation and appalling working conditions, fast fashion has a destructive cost. DEBATE: London Fashion Week is drawing to a close, but does fast fashion stand up to ethical scrutiny? The truth is this: certain consumers want to follow fashion trends on a seasonal basis, and that remains their prerogative. Hardly any consumer renews their entire wardrobe twice a year (mostly for financial reasons). They merely complete it with a new sweater or jeans. And they should be allowed to. In the last two decades, we have seen the amount of clothes bought per person in the EU increase by 40 per cent, while more than 30 per cent of clothes in Europeans’ wardrobes have not been used for at least a year. Amelia Womack, deputy leader of the Green Party of England and Wales, says NO. Every few weeks, there is a new environmentalist quest to ban something that consumers like. While activists in the UK are protesting “fast fashion”, their German counterparts are shouting about SUVs,in the hope that a week of media attention will move someone in parliament to overreact and outlaw it. Yes, some consumers follow trends as a way to express their personal style or artistic expression, while others opt for long-term and more durable options. The choice is key – and it would be unethical to limit that. Bill Wirtz, senior policy analyst at the Consumer Choice Center, says YES. whatsapp More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comPorsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comKansas coach fired for using N-word toward Black playerthegrio.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comMark Eaton, former NBA All-Star, dead at 64nypost.com In a climate emergency, we need our government to take bold, radical actions to reduce our impact on the planet. Stopping fast fashion by enabling a repairing culture and ensuring that companies report their impact is an important first step. Share Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyUndoDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyUndoPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoPost Fun25 Worst Movies Ever, According To Rotten TomatoesPost FunUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndozenherald.comMeghan Markle Changed This Major Detail On Archies Birth Certificatezenherald.comUndoMaternity WeekAfter Céline Dion’s Major Weight Loss, She Confirms What We Suspected All AlongMaternity WeekUndoautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comUndo The government needs to create a system whereby fashion is sustainable and long-lasting. Its aim should be protecting the environment, enabling consumers to be more environmentally-friendly, and making clothing companies pay for their reckless use of our planet. whatsapp Opinion City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M.