Chancellor George Osborne defends bank surcharge at Treasury Select Committee grilling July 21, 2015 MPs of the Treasury Select Committee have grilled chancellor George Osborne, questioning him on a variety of issues, including the new bank tax. Led by Mark Garnier, the chancellor was asked to explain his justification for replacing the bank levy with a new surcharge. At the committee hearing, Garnier said: I welcome the change of [...]
Chancellor George Osborne told to “sit down man” by speaker John Bercow July 21, 2015 Chancellor George Osborne was already looking at a fairly stressful day, given he's being grilled by the Treasury Select Committee about the Budget and the spending review he announced earlier in the day. Read more: Chancellor George Osborne defends bank surcharge as he faces Treasury Select Committee What he probably didn't expect was to be [...]
Strong dollar causes Harley-Davidson to hit the breaks – but motorcycle maker says it will meet expectations July 21, 2015 The figures It turns out riding isn't so easy these days, after the stronger dollar pushed second quarter net income at Harley-Davidson down to $299.8m, down from $354.2m a year ago. But the company said it's on track to meet expectations (which it lowered in April), with earnings per share at $1.44 compared with $1.62 in the same period last year. [...]
Does size matter? English devolution may not lead to productivity gains, admits Treasury secretary Lord Jim O’Neill July 21, 2015 One of George Osborne's most senior Treasury colleagues has admitted that when it comes to solving the productivity puzzle, English devolution is little more than a punt. Commercial secretary to the Treasury Jim O'Neill, who heads up the City Growth Commission, has been tasked with replicating London's economic success in other cities throughout the UK. The group [...]
The government’s welfare proposals including tax credit cuts and benefit caps is necessary, but more must be done July 20, 2015 The chancellor has spoken about what successive governments have known but not properly tackled: the level of welfare spending is not sustainable. Britain is responsible for seven per cent of the world’s welfare spending, despite generating only four per cent of the world’s income and being home to just one per cent of the world’s [...]
French President François Hollande calls for a Eurozone parliament with a shared budget July 20, 2015 French President François Hollande wants to see a new parliament and a shared budget for Eurozone countries. Writing in Le Journal Du Dimanche, a French Sunday paper, Hollande said: Europe has let its institutions weaken and the 28 governments struggle to agree to move forward. [National] parliaments remain too far from decisions. And the peoples [...]
Jeremy Clarkson, Richard Hammond and James May hint at making a Top Gear style show to the US July 20, 2015 Is Jeremy Clarkson about to make the leap across the pond? Reunited with Richard Hammond and James May for live shows in Australia, Clarkson is said to have teased fans last night that the trio has found a “new channel” for a motoring show similar to Top Gear. Clarkson hinted they could be signing with [...]
Russian billionaire Yuri Milner promises $100m to search for alien life July 20, 2015 Venture capitalist investor slash Russian billionaire Yuri Milner has got into the race to find alien life, pledging $100m (£64.3) of his own money to help answer the question of whether we are alone in the cosmos. In a philanthropic(ish) effort, the internet entrepreneur announced through a live webcast at The Royal Society in London that [...]
Travelodge owners are preparing for £1bn sale or stock market floatation July 20, 2015 The owners of Travelodge are preparing to sell the hotel chain for a reported £1bn or otherwise float shares, according to the Daily Telegraph. Deutsche Bank have been appointed to advise the owners – investment bank Goldman Sachs and hedge funds Avenue Capital and GoldenTree Asset Management – on a potential sale or stock market [...]
London Conservative mayoral hopeful Ivan Massow wants to stay over at your place July 20, 2015 Conservative mayoral hopeful Ivan Massow has a new strategy to help him understand the lives of ordinary Londoners: he wants to stay at your place. Read more: Ivan Massow’s mayoral bid evokes Thatcher spirit – entrepreneur explains why he’s the Tories’ best bet to replace Boris In a video released today, Massow explains: “I want to [...]
