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UK fraud agency boss expects to move quickly in Airbus inquiry

Britain’s Serious Fraud Office (SFO) is working with French authorities in its investigation into alleged fraud, bribery and corruption at European aerospace group Airbus (AIR.PA) and expects to proceed “fairly quickly”, its head said on Wednesday. The SFO launched a criminal inquiry in August into Airbus’ use of third-party agents to win commercial jet sales after the company’s compliance teams ... Read More »

Legal challenge to British government’s right to trigger EU divorce begins

A legal bid to force the British government to seek parliamentary approval before starting the formal process of leaving the European Union begins on Thursday, with ministers calling it an anti-democratic tactic to delay Brexit. Prime Minister Theresa May has said she will trigger Article 50 of the Lisbon Treaty, the mechanism by which Britain begins a two-year process to ... Read More »

May targets finance industry for failing to promote women

Prime Minister Theresa May criticised Britain’s finance industry for failing to promote and retain women on Tuesday as the government revealed that some of the biggest players have committed to having at least 30 percent in senior roles by 2021. The Treasury said that for every pound earned by a man in the male-dominated financial services industry – the highest ... Read More »

Driverless vehicle to be tested on UK streets for the first time

Oct 11 A driverless vehicle carrying passengers will take to Britain’s public roads for the first time on Tuesday, as part of trials aimed at paving the way for autonomous cars to hit the highways by the end of the decade. The government is encouraging technology companies, carmakers and start-ups to develop and test their autonomous driving technologies in Britain, ... Read More »

UK shoppers spend more in September, Brexit worries likely to weigh – BRC

British consumers picked up the pace of their spending in September after a weak August, but the country’s planned exit from the European Union is likely to weigh on sales ahead, an industry group said on Tuesday. Spending rose by fell by 1.3 percent compared with September last year, recovering from a fall of 0.3 percent in August, the British ... Read More »

ING to cut 5,800 jobs in digital plan

Dutch bank ING says it intends to cut about 5,800 jobs in Belgium and the Netherlands over the next five years as part of a cost-cutting plan. The bank said the aim was to speed up the adoption of new technology and “continue to lead in digital banking”. It said 3,500 jobs would go in Belgium and 2,300 in the ... Read More »

Best States in Which to Retire

We’ve written about the worst states in which to retire (think Hawaii with its high cost of living!)…now let’s go over the BEST states in which to live out your Golden Years. You may be thinking primarily of escaping the cold winters but warm locales aren’t the only thing on your mind: you’re likely trying to find a state that ... Read More »

US asks Deutsche Bank for $14bn to settle mortgage investigation

The US Department of Justice is asking Deutsche Bank to pay $14bn (£10.6bn) to settle an investigation into mortgage-backed securities, the bank has said. Deutsche Bank said it “has no intention to settle these potential civil claims anywhere near the figure cited”. The claim against Deutsche, which is likely to be the subject of negotiations for several months, was much ... Read More »

LafargeHolcim to withdraw from several countries: chairman

LafargeHolcim is considering withdrawing from several markets as part of its efforts to make last year’s mega-merger a success, Chairman Beat Hess told weekly Sonntagszeitung. “We will be present in less countries for sure,” Hess was quoted as saying. The sale of operations in several countries was an option, he said. The world’s largest cement group, created by a merger ... Read More »

Daimler should make e-car components to protect jobs: labor boss

Daimler should avert possible job losses resulting from the expected substitution of conventional cars by electronic vehicles in coming years by making components for electric engines, the carmaker’s top labor representative said. German carmakers are investing heavily in electric vehicles (EVs), spurred by advances in battery technology and amid a growing backlash against the environmental impact of diesel fumes. The ... Read More »