Barclays makes further provision for scandals and cuts costs
Bank sets aside further £600m for payment protection insurance mis-selling as it reports a 25% rise in first-half profits Barclays set aside £1.8bn in the first half of the year to compensate customers for a string of mis-selling scandals and fines. The figure was revealed as John McFarlane, the chairman who is standing in as […]
Foxtons blames election for fall in sales and profits
But chief executive Nic Budden expects stronger sales in the second half of this year A slump in profits and revenues at estate agent Foxtons in the first half of this year has been blamed on an uncertainty in the property market in the run-up to the election. Profits before tax were £18.1m, down from […]
Sky profits rise as it passes 12 million UK and Ireland customers
Satellite broadcaster’s annual revenues hit nearly £11.3bn in the first full year since it completed the takeover of Sky businesses in Germany and Italy Sky has passed the 12 million customer mark in the UK and Ireland for the first time as it reported annual revenues of nearly £11.3bn. The satellite broadcaster said like-for-like pre-tax […]
Kipper Williams on BP and Deepwater Horizon
Oil company hit by latest costs for US oil spill Continue reading… Source: The Guardian Circular Economy RSS
With the cost of living under control, why don't we feel more prosperous?
Keeping a lid on costs doesn’t immediately translate into good times because it only looks at one side of the ledger – what about income? The latest cost of living figures released by the Australian Bureau of Statistics show that across all household types, the rise in the cost of living remains desperately weak. While […]
Amnesty International says prostitution is a human right – but it's wrong
“If the organization endorses prostitution as a human right, it won’t be supporting the women who might have no choice, but rather the pimps and buyers of sex who have all the choice in the world” Has Amnesty International been hijacked by proponents of the global sex trade? When the human rights nonprofit convenes its […]
Brussels rejects Yanis Varoufakis' claims that troika controlled Greek tax system
Allegations of covert scheme described as ‘simply not true’ by European commission as Alexis Tsipras looks to conclude third bailout deal with creditors The European commission has denounced as “false and unfounded” claims by Greece’s former finance minister Yanis Varoufakis that international creditors had exclusive control over the country’s tax system. Brussels slammed the suggestion […]
Tougher banking rules must stay, says Bank of England deputy governor
Sir John Cunliffe tells City that regulations imposed since 2008 crisis should not be relaxed to drive economic growth A senior policymaker at the Bank of England has said that regulations imposed on the banking sector since the 2008 crisis should not be scaled back in any effort to fuel economic growth. Sir Jon Cunliffe, […]
Zero Carbon Homes Abandoned by UK Government
The UK government recently announced that zero carbon homes 2016 and zero carbon buildings 2019 (non-domestic) will be abandoned. The zero carbon homes policy was designed so that all new buildings would generate as much energy from on-site renewables (PV, wind,…etc) as they consume to heat and power the building. It was a flagship environmental […]
Greek debt crisis demonstrates perils of lending to your euro friends
Eurozone must develop insolvency procedures that prevent other member states – and their taxpayers – becoming creditors through debt mutualisation After months of games and brinkmanship, and only a week after Greek voters rejected the conditions for a €7.5bn (£5.3bn) rescue package, the end came swiftly. The eurozone’s political leaders agreed to start negotiations on […]