ONS gives improved figures for first quarter growth
The pound has been given a small boost as the Office for National Statistics came in with a revised estimate of UK economic growth in the first quarter. It appears the nation’s construction output decline may not have been as bad as initially feared, as the ONS now says gross domestic product grew by 0.2% […]
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UK house price growth at five-year low for June
Nationwide’s monthly house price index for June shows the UK housing markets growing at the slowest rate since June 2013. Annual growth for June came in at 2%, dropping from 2.4% in May. The figure is the lowest since 1.9% in the aforementioned period five years ago. The organisation expects the market to continue along […]
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Harley-Davidson planning to move production out of the US
US motorcycle staple Harley-Davidson have said they will begin producing more of their products in the EU, as a response to recently announced tariffs on US exports. The export tariffs, which include motorcycles, are expected to increase costs by US$2,200 per exported unit. The company says the extra costs could add up to $100 million […]
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VW considering seeking damages from ex-CEO Winterkorn
Volkswagen have said they are giving serious thought towards legal action against their former boss Martin Winterkorn. Winterkorn resigned from his post in 2015 in the midst of the emissions test cheating scandal that rocked the company, and has recently been indicted by US authorities over his role. VW supervisory board member Stephan Weil said […]
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BMW follows Airbus in issuing Brexit warning
German carmaker BMW have become the latest big manufacturer to warn Britain about the potential impact of a no-deal exit. The company’s UK boss Ian Robertson told the BBC that clarity is needed on how regulations are going to operate once Britain leaves the EU in March next year. “If we don’t get clarity in […]
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Airbus says UK jobs at risk with no-deal Brexit
Aeronautical giant Airbus has warned of potential “crisis actions” with the possibility of a no-deal Brexit looming. They have said serious consideration is being given to moving manufacturing away from Britain once it leaves the EU, with sites in North America, China, and Europe preferred. The company employs 14,000 people in the UK, and has […]
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Sir Philip Green looks to stop release of BHS report, amid further auditor failings
Former BHS owner Sir Philip Green is in court seeking an order to stop the Financial Reporting Council releasing their full report on the failures of auditors leading up to his sale of BHS. It comes after last week Pricewaterhouse Coopers were hit with a record fine, and partner Steve Denison fined and banned for […]
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TSB’s IT migration done without proper testing, says IBM
Further pressure has come on TSB in relation to April’s disastrous IT meltdown, as a report by software firm IBM has been released. The report, prepared by IBM after being hired by TSB to deal with the incident, was released today by the Financial Conduct Authority, raising questions over the processes used by TSB prior […]
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BT hit with fine over spam emails
The Information Commissioner’s Office (ICO) has fined telecommunications firm BT after they sent out almost five million spam emails to customers. The £77,000 fine comes as a result of 4.9 million direct marketing emails sent between December 2015 and November 2016, which the company did not have customer consent for. The emails promoted several of […]
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Banks looking at the introduction of biometric card verification
The world could soon see an upgrade to the chip and pin card protection currently used by most providers. As reported by the Sun, leading banks are working on development of biometric technology – namely fingerprint scanners – to verify the use of credit and debit cards. Fingerprint verification has come to much larger prominence […]
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