UK manufacturing output declines in final three months of the year as pessimism grows over 2016 December 17, 2015 Output from UK factories declined over the last the three months, with many expecting further weakness in early-2016, according to a business survey published today. The Confederation of British Industry’s industrial trends survey showed 27 per cent of firms reporting output had fallen over the past three months, compared with 24 per cent where output had gone [...]
How much do barristers earn? Much less than you’d think if they’re working on Crown Court legal aid cases December 17, 2015 Barristers working on certain legal aid cases could find themselves pocketing less than the average wage and far less than their similarly educated peers in other professions, the Bar Council warned today. The remarks are based on a report released today from the Ministry of Justice about junior barristers' wages, which discovered the lawyers working regularly on [...]
Mortgage lending leaps as buy-to-let investors rush to buy December 17, 2015 November’s mortgage lending figures rose 23 per cent on last year, showing signs of a stabilising recovery in the housing market, figures published this morning showed. The Council of Mortgage Lenders' (CML) November report showed gross mortgage lending rose to £19.9bn last month, nine per cent lower than October, but up on last November's £16.1bn. Mohammad [...]
Standard Chartered poaches Simon Cooper from HSBC to run Corporate and Institutional Banking business December 17, 2015 Standard Chartered has hired a top executive from HSBC to run its corporate and institutional banking (CIB) business. The Asia-focused bank said this morning that Simon Cooper would join the group in April of next year as CIB chief executive. Cooper's appointment is just the latest step for Standard Chartered in executing the new turnaround strategy it [...]
AstraZeneca buys majority stake in biopharma company Acerta for $4bn December 17, 2015 AstraZeneca has agreed to buy a majority stake of biopharma company Acerta for $4bn (£2.7bn), with the hope of expanding and improving its portfolio of medicines. Once the transaction goes ahead, the British pharmaceutical giant will take over 55 per cent of the private-owned company, which is based in the US and Netherlands. Acerta focuses [...]
M&G Real Estate buys Bloomberg’s new European headquarters in the City for £93m December 17, 2015 M&G Real Estate has bought Bloomberg’s new European headquarters near Mansion House in the City, in a £92.5m deal. The fund manager said it has bought the freehold ground lease of Bloomberg Place from Legal & General Property, which put the site up for sale two months ago after more than 60 years of ownership. The vast 750,000 square feet [...]
HMRC is failing to answer its phones and is not doing enough to tackle tax fraud December 17, 2015 No matter how bad your commute has been, your morning is still probably better than that of HM Revenue & Customs (HMRC) – after two separate reports highlighting the UK tax authority's shortcomings were released today. The National Audit Office (NAO) concluded that, while taxmen and women had come a long way in their compliance efforts, there [...]
Entertainment One share price rises on Steven Spielberg’s Dreamworks partnership Amblin Partners December 17, 2015 Peppa Pig maker Entertainment One (EOne) and Steven Spielberg's film company Dreamworks have teamed up to form a new film company called Amblin Partners. Dreamworks, the company behind Shrek and the upcoming adaption of Roald Dahl's the BFG, has alos got backing for the new venture from entertainment companies Participant Media and Reliance Entertainment. EOne will be the global distributor of the film and TV [...]
Work longer, live better: Our attitude to employment must change if we’re to have a healthy later life December 17, 2015 As a society, we must better recognise that “work” does not just provide people with financial rewards but also important social benefits, and helps contribute to a healthier and happier later life. Figures shared recently by pensions minister Baroness Altmann show that only half of the population aged 50-64 are still in work in some [...]
Heathrow chairman Sir Nigel Rudd poised for departure in 2016 amid airport expansion turbulence December 17, 2015 Sir Nigel Rudd, the chairman of Heathrow, has announced he will depart the UK's biggest airport next September, after a decision on the thorny issue of airport expansion is expected to be made by the government. A replacement has not yet been named, but "preparations are underway". "I'm really proud to have played a role [...]
