Bankers in the UK can breathe easier reports the Telegraph and FT as the Financial Conduct Authority has decided not to publish a key report into Britain’s banking culture.
The regulator had hailed its study of behaviour within the country’s leading lenders as one of its most important aims next year, including it in in its business plan for the coming yea
The Ministry of Defence has handed privately-owned engineering group Marshall of Cambridge a multi-million pound contract to maintain the Royal Air Force’s fleet of C-130 Hercules transport aircraft, writes the Mail. The six-year deal will help secure 1,100 jobs at the Marshall base at Cambridge Airport.
The Guardian reports Sports Direct boss Mike Ashley has pledged to spend £10m on raising the pay of all the firm’s employees to above the minimum wage.
Parents in the UK are financially supporting their children until they hit the age of 31, according to research commissioned by Skipton Building Society, writes the Independent.
Every firearms officer in London will be on duty to protect the New Year celebrations in an unprecedented security operation, the Telegraph reports. Scotland Yard cancelled all New Year leave for more than 2,000 armed officers – the first time it has taken such a step – as part of the largest-ever police mobilisation for December 31 festivities over fears of a terrorist attack.
The world's stuttering economic recovery will continue to disappoint next year, the head of the IMF has warned. Rising US interest rates, a Chinese slowdown and disappointing world trade will all weigh on growth prospects in 2016, said Christine Lagarde, reports the Telegraph.
Saudi Arabia will continue to pump record amounts of oil in the face of decade-low energy prices, the kingdom's oil minister has said, writes the Telegraph. "We will satisfy the demand of our customers," oil minister Ali Al-Naimi said.
The Queen was among thousands anxiously monitoring river levels last night as flood waters closed in on Balmoral Castle, reports the Times. Hundreds of homes were evacuated and thousands lost power after Storm Frank battered Britain. Much of the worst damage was in Scotland.
Apple has agreed to pay €318 mln in back taxes to Italy in a precedent-setting accord that could help other European countries to stamp out the tax tourism of multinational corporations. The Times reports.
Two of Britain’s most prominent businesswomen have been appointed dames in the Queen’s New Year’s honours list. Natalie Massenet, the founder of Net-a-Porter, and Carolyn McCall, the chief executive of EasyJet were both named for services to business.