Lufthansa share price rises after offering bereaved families of Germanwings flight 9525 an extra €25,000 in compensation July 1, 2015 Lufthansa has offered an extra €25,000 in compensation to the family of each German victim of the Germanwings flight 9525. Close family members who have suffered health problems resulting from the crash, which killed all 150 people on board, can claim an addition €10,000, This payment comes on top of the €50,000 already offered by [...]
Zac Goldsmith says he will resign if government goes ahead with Heathrow expansion July 1, 2015 Zac Goldsmith, the favourite to be London mayor, has confirmed this morning that he will resign his seat if the government decides to follow Sir Howard Davies' recommendations to expand Heathrow. The Conservatives' star candidate said in an interview with LBC: "It’s a pledge of course I'd honour." Though he added he did not think [...]
John Vickers says ringfencing rules are still necessary June 30, 2015 Despite some bankers calling for an end to ringfencing, John Vickers says the case for separating the retail banking and investment banking arms of banks is still necessary. The architect behind ringfencing plans has said British banks still need to protect domestic retail customers from riskier parts of their operations, and the case for this [...]
Willis Group to merge with Tower Watson in $18bn deal June 30, 2015 Reinsurance broker Willis Group is set to merge with risk management group Towers Watson in a deal worth $18bn. On completion the deal will result in Willis owning 50.1 per cent of the combined group. Towers Watson shareholdings will own the remainder, keeping Willis’ Irish domicile, the Financial Times reported today. The deal will create [...]
Willis Group to merge with Tower Watson in $18bn deal June 30, 2015 Reinsurance broker Willis Group is set to merge with risk management group Towers Watson in a merger worth $18bn. On completion the deal will result in Willis owning 50.1 per cent of the combined group. Towers Watson shareholdings will own the remainder, keeping Willis’ Irish domicile, reports the Financial Times. The deal will create a [...]
City minister Harriett Baldwin wants financial services to secure economic recovery – but not at the expense of trust June 30, 2015 Economic Secretary to the Treasury Harriett Baldwin said she wants the UK to retain a "globally competitive finance sector", but added that it must also focus on building trust. Financial services are "visibly successful", contributing to economic growth at a high level, she said. Her vision for the sector, however, is for it to play [...]
Sajid Javid questions CBI stance on European Union membership June 30, 2015 Sajid Javid has told the Confederation of British Industry (CBI) they could harm the Prime Minister’s renegotiation efforts with their unquestioning support for European Union membership. “I’ve heard the CBI thinks the UK should remain in the European Union no matter what,” the secretary of state for business, innovation and skills (BIS) said at a CBI [...]
Chancellor George Osborne says no-one should underestimate the impact of a Greek exit from the Eurozone June 29, 2015 George Osborne has reiterated Britain’s attitude regarding Greece is to “hope for the best, but plan for the worst,” in a speech to the House of Commons. The chancellor told MPs no-one should understate the "impact a Greek exit from euro would have on the European economy and the knock-on effects on us." This is [...]
Retired people are doing better and better from their private pensions June 29, 2015 Retired households received an average income of £9,500 from private pensions and annuities in 2013-2014, a real terms increase of nine per cent from 2012-2013, when the average was £8,800, new figures from the Office of National Statistics show. That's an increase of 26 per cent since the start of the financial crisis in 2007-2008, [...]
Carolyn Fairbairn will be first female CBI director general June 29, 2015 The Confederation of British Industry (CBI) has appointed Carolyn Fairbairn as its first ever female director general. A former head of strategy at the BBC and ITV, she will replace John Cridland, who has been at the helm of the CBI since 2011, in November. CBI president Sir Mike Rake said: Carolyn’s CV speaks for [...]
