Latest Vince Cable News

  • Nick Clegg Calls On PM To Rule Out UKIP Deal
    Nick Clegg Calls On PM To Rule Out UKIP Deal Sun, Apr 19, 2015

    Nick Clegg has challenged David Cameron to rule out a post-election deal with UKIP, saying everyone knows the Tories will not win a majority. He made the call as the Prime Minister claimed Nigel Farage's party would be "lucky if they have even one seat" after the May poll. Refusing to be drawn on a possible alliance with UKIP, Mr Cameron said he was campaigning for a majority at Westminster, warning a Labour government propped up by the SNP was a "frightening prospect". But addressing activists in Portsmouth, Mr Clegg referred to Mr Cameron's repeated refusal to rule out entering into an alliance with UKIP. More »

  • Cable Warns Of CMA Threat To Tory Lloyds Sale
    Cable Warns Of CMA Threat To Tory Lloyds Sale Sun, Apr 19, 2015

    Conservative plans to sell billions of pounds of Lloyds Banking Group shares to the general public by May 2016 could be undermined by a competition inquiry into the industry, the Business Secretary warned on Sunday. Speaking exclusively to Sky News, the Liberal Democrats' Vince Cable said that proposals unveiled on Sunday by David Cameron and George Osborne to offer discounted Lloyds shares while delivering a profit to taxpayers risked falling foul of a Competition and Markets Authority (CMA) investigation. While its provisional findings will be outlined by this autumn, the scope for measures that would adversely affect Lloyds – Britain's biggest high street lender – is significant, according to analysts. Mr Cable added fuel to that argument on Sunday, saying that if the CMA recommended that Lloyds should divest additional parts of its business or another sanction, the bank's value would inevitably be affected. More »

  • Cameron says Labour-SNP power deal would be frightening
    Cameron says Labour-SNP power deal would be frightening Sun, Apr 19, 2015

    By Paul Sandle LONDON (Reuters) - The prospect of Scottish Nationalists holding sway over a minority Labour government is "frightening", Prime Minister David Cameron said on Sunday, as polls suggested deadlock 18 days before an election. The Scottish National Party could win 53 out of 59 seats north of the border, according to recent forecasts, giving a party whose aim is an independent Scotland huge influence over a British parliament where no single party commands a majority. SNP leader Nicola Sturgeon said the SNP and Labour, which are both left of centre, could "work together" to prevent Cameron from regaining power. Labour has ruled out a coalition with the SNP, but it could seek a vote-by-vote arrangement that enables it to govern. More »

  • Cameron: Tory majority within reach
    Cameron: Tory majority within reach Sun, Apr 19, 2015

    David Cameron has promised voters the chance to buy Lloyds bank shares at discount prices if the Conservatives win the General Election - as he renewed warnings of the "frightening prospect" of a Labour government relying on SNP votes. More »

  • Royal Mail To Deliver Pay Rise To CEO Greene
    Royal Mail To Deliver Pay Rise To CEO Greene Wed, Apr 8, 2015

    The board of Royal Mail is drawing up secret plans to hand an inflation-busting pay rise to Moya Greene, its chief executive, just weeks after next month's General Election. Sky News has learnt that directors of the privatised postal services group have been discussing the move to boost Ms Greene's salary ahead of the publication of its annual report, which is expected in June. Insiders said on Tuesday that a final decision about the pay increase had not yet been taken, and that formal consultations with leading shareholders, including the Government, which holds a 30% stake in Royal Mail, were still to take place. They added, however, that it was "likely" that Ms Greene would be awarded an increase to her £498,000 base salary of approximately 5%. More »

  • Temasek Snaps Up Stake In UK's Funding Circle
    Temasek Snaps Up Stake In UK's Funding Circle Thu, Apr 2, 2015

    A fast-growing peer-to-peer lending platform is to sell a stake in itself to Temasek, the Singaporean sovereign wealth fund, as part of a fundraising that will catapult it into the ranks of Britain's most valuable technology start-ups. More »

  • Parties trade blows on job policies
    Parties trade blows on job policies Wed, Apr 1, 2015

    The big parties exchanged blows on jobs on the third day of the General Election campaign, with Chancellor George Osborne accusing Ed Miliband of "an assault on everyday working people", while the Labour leader said Tories were only interested in "looking after a few big firms and individuals at the top". More »

  • Margareta Pagano: Sir Roger Carr champions bright daughters in Vince Cable women …
    Margareta Pagano: Sir Roger Carr champions bright daughters in Vince Cable women … Wed, Apr 1, 2015

    Why were they missing out on half of the population's talent pool by being blind to the advantages of having the calmer and less testosterone fuelled – yet more questioning – sex in their companies? For decades, the number of non-executive women on FTSE 100 boards was stuck at about 10%, while those working at senior levels throughout industry was pathetically low and in financial services almost non-existent. Then along came Vince Cable, the business secretary, who was so determined to change the culture that he called on Lord Davies to investigate why there were so few women on boards. The orthodox view is Cable's threat has shamed the UK's bosses into action and, rather than face even tougher mandatory quotas, they have bowed to the inevitable. But there's something subtler than Cable's stick at work and I suggest it's the relationship between fathers and daughters that has become the more powerful catalyst for change. More »

  • Tory deal 'difficult' for Lib Dems
    Tory deal 'difficult' for Lib Dems Sun, Mar 29, 2015

    A Liberal Democrat Cabinet minister has cast doubt on another coalition with the Conservatives as a senior figure from David Cameron's party admitted it would be "incredibly difficult" to win a majority at the General Election. More »

  • Thousands spent on Los Angeles bash
    Thousands spent on Los Angeles bash Fri, Mar 27, 2015

    Thousands of pounds of taxpayers money was spent on a Los Angeles bash to celebrate British Oscar nominees and business, official figures show. More »

  • The British government has no plans to regulate Ouija boards
    The British government has no plans to regulate Ouija boards Thu, Mar 26, 2015

    No – he didn’t ask for the answer to be spelled back slowly to him, letter by letter. More »

  • Women On Boards: 'Enormous' Progress Made
    Women On Boards: 'Enormous' Progress Made Wed, Mar 25, 2015

    A 25% target for the number of women on FTSE 100 company boards this year is close to being met already following "enormous" progress, according to the latest figures. The voluntary milestone was set by the former trade minister Lord Davies in 2011 following a review. Business Secretary Vince Cable, who has championed the cause, said just 17 more women were needed to be appointed this year to meet the 25% figure. Mr Cable said he expected to see further progress, with company boards made up of a third of women by 2020. More »

  • Banks To Carry On Closing Despite Cable Deal
    Banks To Carry On Closing Despite Cable Deal Wed, Mar 25, 2015

    Britain's banks will pledge this week to continue investing in their branch networks "for decades to come" despite signing an agreement enabling them to close outlets even when they are the final one in a local community. Under the 'Access To Banking Protocol', a copy of which has been obtained by Sky News ahead of its release on Thursday, lenders will have to  provide 12 weeks’ notice of any branch closure and publish an assessment of the likely impact on its customer base. "Banks will publish the results of their engagement and impact assessment, and the considerations taken into account in assessing the impact of the branch closure, subject to the removal of commercially sensitive information," the document is expected to say. However, the agreement drawn up by officials working for Vince Cable, the Business Secretary, and the British Bankers' Association (BBA), is unlikely to stall the accelerating wave of branch closures being undertaken by major high street banks across the country. More »

  • Pennon Lures City Grandee Parker As New Chair
    Pennon Lures City Grandee Parker As New Chair Thu, Mar 19, 2015

    One of the UK's biggest publicly listed water companies has lured Sir John Parker, the architect of a new push to improve boardroom diversity, as its new chairman‎. Sky News has learnt that Pennon Group, which owns South West Water and Viridor, the waste-recycling company, will announce Sir John‎'s appointment on Friday. The news is likely to be well-received by shareholders in Pennon, which sits just outside the FTSE-100 index with a market capitalisation of £3.25bn. Sir John, who also chairs Anglo American‎, the much larger mining group, recently stepped down as the president of the Royal Academy of Engineering. More »

  • Banks And Cable Close To Branch Closure Pact
    Banks And Cable Close To Branch Closure Pact Wed, Mar 18, 2015

    Vince Cable will next week announce a deal with the major high street banks that will set out new guidelines for the controversial closure of hundreds of branches across the country. Sky News understands that the Business Secretary and the British Bankers' Association (BBA) are close to agreeing a final 'protocol' that will require lenders to give 12 weeks' notice of planned closures and publish a community impact assessment in each case. Sources said that Mr Cable was keen to unveil the deal before Whitehall goes into purdah towards the end of the month ahead of the General Election. It will include a commitment from banks that they will consult on the provision of alternative banking services such as a new ATM, credit unions and Post Office branches, which Mr Cable has said will become an increasingly important element of the UK's banking infrastructure. More »

  • Budget Will Deliver 'Truly National Recovery'
    Budget Will Deliver 'Truly National Recovery' Wed, Mar 18, 2015

    George Osborne has arrived at Parliament where he is preparing to give his last Budget speech before the election. The Chancellor has already cautioned voters there will be "no gimmicks, no giveaways" and his words were echoed this morning by the Business Secretary, who told Sky News there would be no "spectacular giveaway". Vince Cable insisted the measures contained in today's Budget were a "joint effort" between the Tories and the Liberal Democrats and that voters should not expect pre-election gifts. Mr Osborne will find himself with around £5bn to play with as the Budget deficit for 2015 is expected to be revised down from £75.9bn to £69bn. More »

  • Pay Growth Slows As Firms Pay Fewer Bonuses
    Pay Growth Slows As Firms Pay Fewer Bonuses Wed, Mar 18, 2015

    Official figures show pay growth has been hit by fewer bonus payments though the number of people in employment has reached a new record high. While the employment statistics provided more cheer for the Chancellor George Osborne on jobs, they also showed the recent recovery in wage growth had stalled with average earnings rising just 1.8% in the three months to January. The Office for National Statistics (ONS) cited weaker bonus payments and said that when the effects of bonuses were removed, annual earnings growth rose by 1.6% in November to January, slightly down on the previous month's reading. More »

  • Giveaways expected in last UK budget before election
    Giveaways expected in last UK budget before election Wed, Mar 18, 2015

    The British budget to be unveiled Wednesday will be driven by three certainties: death, taxes and the desire of incumbent governments to win re-election. Treasury chief George Osborne will, as tradition ... More »

  • Claudia wants Mandelson on Strictly
    Claudia wants Mandelson on Strictly Tue, Mar 17, 2015

    Strictly Come Dancing co-host Claudia Winkleman has cast her vote for an unlikely dancer in the next series of the show - former minister Lord Mandelson. More »

  • Osborne could unveil spending boost
    Osborne could unveil spending boost Tue, Mar 17, 2015

    Chancellor George Osborne has been putting the final touches to the last Budget of this Parliament, amid speculation that he will use it to blunt Labour's lines of attack in the upcoming general election battle. More »

  • Impact of cuts 'not understood'
    Impact of cuts 'not understood' Tue, Mar 17, 2015

    Whitehall officials have inflicted deep public spending cuts without fully understanding their impact on services, the head of Britain's value-for-money watchdog has said. More »

  • Minimum wage to rise 20p to £6.70
    Minimum wage to rise 20p to £6.70 Tue, Mar 17, 2015

    The national minimum wage is to increase by 20p an hour to £6.70, the biggest real-terms rise in seven years, the Government has announced. More »

  • Britain's Liberals upbeat as they prepare for pain
    Britain's Liberals upbeat as they prepare for pain Sun, Mar 15, 2015

    The Liberal Democrats, the junior party in Britain's government, tried to sound upbeat Sunday at their final conference before the general election, despite fears of a hammering come May 7. More »

  • Coalition 'made final decisions'
    Coalition 'made final decisions' Sat, Mar 14, 2015

    The final significant decisions of the coalition Government have already been taken, Nick Clegg declared as he warned George Osborne's future plans for the country's economy under a Tory majority would be "deeply regressive and unfair". More »

  • Pension trustees to join forces on 'Red Line' AGM votes Tue, Mar 10, 2015

    A British pensions trustee group said on Monday it had launched a "Red Line Voting" initiative to help smaller schemes and other investors take a more active stewardship role in the companies in which they invest. The plan by the Association of Member Nominated Trustees would help schemes join forces to vote through corporate change, and mirrors efforts from groups such as the Association of British Insurers, which issues "Red Top" and "Amber Top" alerts to flag areas of concern for their membership. The Red Lines, voting instructions that would apply to all the companies in which pension schemes invest, would cover the full range of environmental, social and governance issues. "Red Line Voting makes it easy for pooled fund managers to accept voting instructions from many clients," the AMNT said. More »

  • 'Colossal' Tory Cuts Will Hit NHS, Says Balls
    'Colossal' Tory Cuts Will Hit NHS, Says Balls Mon, Mar 9, 2015

    The "unprecedented" scale of Tory spending cuts would mean the NHS would end up footing the bill, the shadow chancellor has said. Ed Balls said the Conservatives would take the country back to the 1930s with "colossal" cuts that would amount to £70bn in the next parliament. He said: "Our analysis shows clearly - countries which reduce public spending at the pace George Osborne intends have found they have had no alternative but to cut health spending. In a speech in central London the shadow chancellor warned the cuts would lead to the smallest police force since comparable records began and the smallest Army since Oliver Cromwell's time. More »

  • Cameron's naive crusade for boardroom gender diversity will only hurt B …
    Cameron's naive crusade for boardroom gender diversity will only hurt B … Mon, Mar 9, 2015

    Company boards carry the primary responsibility to shareholders of ensuring a worthwhile return on their investment, so that they continue to provide the capital needed to finance their profit-making activities. The quality of the Board is a key factor in delivering strong corporate performance, as well as good corporate citizenship. In that year David Cameron became prime minister at the head of a Conservative-led coalition. He and others – notably Vince Cable, Business Secretary – spoke frequently about the 'need' for major companies to appoint more women onto their boards. More »

  • UK to lead European economy by 2035, Lib Dems pledge
    UK to lead European economy by 2035, Lib Dems pledge Mon, Mar 9, 2015

    Liberal Democrat leaders said they hope to make Britain the "powerhouse of Europe" within 20 years as they outlined plans for growth on Monday ahead of the May general election. More »

  • UK economy can beat Germany - Clegg
    UK economy can beat Germany - Clegg Mon, Mar 9, 2015

    The UK will overtake France and Germany to become Europe's biggest economy within 20 years under Liberal Democrat plans for growth, Nick Clegg will say today. More »

  • Osborne 'Regrets' Lack Of Radical RBS Reform
    Osborne 'Regrets' Lack Of Radical RBS Reform Fri, Mar 6, 2015

    The Chancellor has admitted he regrets not beginning a radical restructuring of Royal Bank of Scotland (RBS) following the last General Election. George Osborne also told the Financial Times he would look to "get rid of" the taxpayer's "massive" 80% stake following the coming election, should he remain in the post, but warned the process may take many years. One option Mr Osborne ultimately ignored was a recommendation to break-up RBS - favoured by the business secretary, Vince Cable in 2012. In 2013, RBS created its own so-called 'bad bank' to hold billions of pounds of its most risky assets. More »

  • Taxpayers To Meet £30m Bill For UK Coal Staff
    Taxpayers To Meet £30m Bill For UK Coal Staff Tue, Mar 3, 2015

    Taxpayers are poised to fund a multimillion pound bill to help workers at two of the UK's remaining deep coal mines as part of preparations for their closure, ministers are expected to disclose this week. Sky News understands that the Government will propose amendments to the Small Business Bill to facilitate so-called concessionary coal payments to hundreds of UK Coal workers. A source with knowledge of the latest plan said that if it proceeded, concessionary coal payments to workers at UK Coal collieries would be made in July and December. The development, which was the subject of talks in Whitehall on Tuesday, followed a pledge by George Osborne in 2013 to guarantee free coal deliveries or a substitute cash sum under a scheme dating back to the 1980s. More »

  • Spaceport location shortlist cut
    Spaceport location shortlist cut Tue, Mar 3, 2015

    Six sites which could become Britain's first spaceport have been announced by the UK Government. More »

  • Emwazi 'Best Employee We Had', Says Ex-Boss
    Emwazi 'Best Employee We Had', Says Ex-Boss Mon, Mar 2, 2015

    The former boss of the Briton identified in reports as the sadistic Islamic State killer "Jihadi John" has said he was "the best employee we ever had". Mohammed Emwazi was "very good with people" and was "calm and decent", according to the head of an IT firm in Kuwait, which hired the then 21-year-old as a salesman. More »

  • Jihadi John my best worker: IT boss
    Jihadi John my best worker: IT boss Sun, Mar 1, 2015

    The British graduate unmasked in reports as the Islamic State (IS) executioner known as Jihadi John was a model employee, "calm and decent" and "very good with people", his former boss has said. More »

  • Tax Break Cut To Pay For Labour Fees Pledge
    Tax Break Cut To Pay For Labour Fees Pledge Sat, Feb 28, 2015

    Ed Miliband has unveiled a Labour election pledge to cut student tuition fees by a third by reducing pension tax relief for higher earners. Under the party's plans, the cap on undergraduate fees would be reduced from £9,000 to £6,000 per year from September 2016. Mr Miliband told an audience of students in Leeds that the current funding system was landing graduates with debts running into tens of thousands of pounds. Labour's funding cut would be paid for by a reduction in pension tax relief for higher earners , Mr Miliband said. More »