UK government starts Royal Bank of Scotland sell-off
Sale represents the first disposal of its 79% stake George Osborne has kicked off the first sale of shares in Royal Bank of Scotland since it was rescued in 2008 – at a loss to the taxpayer and despite criticism that he should wait for the bank to achieve more deep rooted reform. The sale […]
Why are people stealing letter boxes?
Royal Mail is taking evasive action to foil the 100 post box thefts that take place every year. Will GPS tags help to stop them from becoming plundered garden ornaments? Name: Royal Mail letter boxes Age: 206 years Continue reading… Source: The Guardian Circular Economy RSS
Tom Hayes, the Libor-rigging scandal's 'ringmaster'
On 11 December 2012, City of London police and SFO representatives led away a 33-year-old multimillionaire former derivatives trader In early December 2012, the UK felt like a modern-day version of a Dickensian Christmas. A cold snap had left buildings and fields covered in frost, enveloping a country already frozen by a financial slump. The […]
Former City trader Tom Hayes given 14-year sentence for Libor rigging
Jury in landmark case finds 35-year-old guilty of eight counts of conspiracy to fix the international interbank lending rate Former City trader Tom Hayes has been sentenced to 14 years in jail after becoming the first person to be convicted by a jury of rigging the Libor interest rate. In a landmark case, Hayes, 35, […]
Libor: the key global rate abused on a wide scale
The financial crisis showed how important Libor had become in globalised markets – the rigging scandal showed how much it had been abused Libor first shot to prominence during the financial crisis when it emerged as a signal that banks were panicking. This is because Libor – shorthand for the London interbank offered rate – […]
These are the four SDGs we need to agree on to help the planet
Tackling indoor air pollution, protecting coral reefs, boosting R&D in cleaner energy and ending subsidies for fossil fuels are the most important sustainable development goals for safeguarding the environment The governments of the UN’s 193 member states are gearing up to select a set of development and environmental targets for the next 15 years to […]
Scent of success: perfume’s perennial popularity is thanks to natural and synthetic ingredients
The history of fragrance mirrors the history of civilization. But even the perfume-loving Egyptians and other ancients couldn’t have predicted how humans would use and create scents over millennia Perfume has existed for thousands of years and manufacturers have used scents in everyday products – candles, soap, lip balm, lotions – for more than a […]
South Africa's circular economy could be lifeline for its 25% unemployed
With unemployment at a 10 year high, hope is coming in the form of new jobs offered by the country’s burgeoning circular economy South Africa’s economy is having a tough time. The country is struggling to escape the effects of the global financial crisis and mining companies – one of South Africa’s key economic sectors […]
HSBC profits rise 10% boosted by bumper Hong Kong earnings
The international banking group made pre-tax profits of £8.7bn in the first six months of the year The international banking group HSBC reported a 10% increase in earnings for the first half of the year, boosted by bumper profits in Hong Kong as the lender considers whether to move its headquarters from London to the […]
Bank lending to business forecast to rise in 2015
Annual investment could rise by 0.25% over the year despite a dip in June – the first annual increase since the pre-crisis peak in 2008 Business lending by Britain’s banks remains on track to rise in 2015, despite falling sharply in June, according to a new forecast from the EY Item Club. Boosting business investment […]