Oops: Republican Presidential candidate Donald Trump “exaggerated his wealth” July 29, 2015 Republican Presidential candidate Donald Trump has overstated his wealth to the tune of $7.1bn (£4.5bn), according to an analysis by the Bloomberg Billionaires Index. The brash businessman and property magnate's campaign team has said his net worth was more than $10bn, citing the value of his properties in New York, San Francisco, Miami and many other places [...]
Chancellor George Osborne: Links with the European Union should be based on free trade July 29, 2015 As negotiations between the UK and European Union around terms of the UK's membership continue, George Osborne has said the relationship should be based around free trade. Read more: Osborne says France and UK can strike deal The economic benefits are key to EU membership, and should therefore be at the heart of renegotiation, the chancellor [...]
Jury sent out to consider verdict in Tom Hayes libor-rigging trial July 29, 2015 The jury has been out to consider the verdict in the trial of former trader Tom Hayes who is accused of attempting to manipulate the Libor rate. The former UBS and Citigroup yen derivatives trader, who is 35, denies eight charges of conspiracy to defraud between August 2006 and September 2010. Prosecutors have branded Hayes "greedy" and [...]
Chair of the Federal Reserve Janet Yellen says rates will rise this year if economy remains on track causing dollar to jump July 29, 2015 The Federal Reserve has reiterated that it is on course to raise interest rates in 2015, as Chair of the Federal Reserve described the US economy’s prospects as “favourable”. Hiring has pushed the country towards maximum employment, while factors that have been holding back inflation were likely to diminish, Yellen indicated in a prepared statement [...]
Obese people who refuse treatment could have their benefits cut July 29, 2015 Overweight people who refuse to lose weight may have their benefits cut, as David Cameron launches a review of whether those with drug, alcohol or obesity problems should be deprived of welfare unless they accept treatment. The review, led by Dame Carol Black, chairman of the Nuffield Trust and adviser to the Department of Health, [...]
Barclays profits beat expectations as executive chairman John McFarlane sets out new strategy July 29, 2015 Barclays' share price climbed more than 2.3 per cent this morning having beaten expectations for second quarter profits, with net income rising to £1.85bn – ahead of the £1.8bn expected – as chairman John McFarlane set out his three point plan to strengthen the bank. The figures Total income rose to £6.55bn in the three months [...]
US Presidential Election 2016: Donald Trump is the leading Republican candidate in the polls July 29, 2015 Another day, another way for Donald Trump to say something that alienates himself. This has characterised much of his short Republican nomination campaign. Just last week, alluding to a prominent Republican's time as a Vietnamese POW, he mocked Senator John McCain – the guy who won the Republican nomination and ran against President Obama in [...]
Prime Minister David Cameron says the UK government will do everything it can to combat migrant crisis in Calais July 29, 2015 After 1,500 migrants tried to reach the UK via the Channel Tunnel, David Cameron has warned he is “very concerned” by the growing Calais crisis. Speaking as the UK confirmed an extra £7m in funding for new fencing at the Channel Tunnel in France, Cameron said he felt sympathy for British holidaymakers and that the [...]
SNP bites back at PM after David Cameron vows to halt second Scottish independence referendum July 28, 2015 The SNP has rejected Prime Minister David Cameron’s claim that he would block another vote on Scottish independence. On Monday, Cameron said that he had the ability to shoot down a second referendum did “not see the need for another” vote. “It will be my ultimate decision, in line with the democratic decision-making processes of the [...]
George Osborne’s budget deficit elimination plan gets IMF seal of approval July 28, 2015 Chancellor George Osborne’s plans to eliminate the budget deficit by 2020 received a thumbs up from the International Monetary Fund (IMF) yesterday. While some have argued that his aim to balance the state books is a risk to the UK’s economic recovery, the IMF said that sustainable growth would require moving away from public [...]
