Santander plans to axe a fifth of its UK branch network

Business reporter(wp/reuters):::
Santander on Wednesday announced plans to shut almost a fifth of its branch network in Britain, expected to result in around 840 job losses.

The Madrid-based bank’s UK business said it would close 140 branches across the country, leaving it with 614.

The closure program will lead to around 840 redundancies, with the bank expecting to be able to redeploy only a third of the 1,270 staff affected.

Santander said it had consulted with trade unions on the proposed changes and would try to find alternative roles for staff where possible.

Santander’s action marks the latest round of major branch closures by British high street banks.

Britain has lost nearly two-thirds of its bank and building society branches over the past 30 years, according to research by consumer campaign group Which? published in November. The number of branches at that time stood at 7,586, down from 20,583 in 1988.

Santander said it was making the changes in response to the rapid uptake of digital banking. It said the number of transactions carried out in branches had fallen by 23 percent over the past three years.

It will invest 55 million pounds in refurbishing around 100 of the remaining branches.

Linda Rolph, general secretary of the Advance union, which represents Santander workers, told Reuters: “It is a sad day for the branch staff affected. We will do everything we can to find jobs for people who want them.”

Rolph said the union was not resisting the changes: “Santander was one of the last to move to cut branches. We’re not opposing because the rationale is clear. Staff thought it was a matter of time before some branches closed.”

Susan Allen, head of retail and business banking, said: “The way our customers are choosing to bank with us has changed dramatically in recent years, with more and more customers using online and mobile channels.

“As a result, we have had to take some very difficult decisions over our less visited branches, and those where we have other branches in close proximity.”

Momentum gathers behind British MPs' bid to stop no-deal Brexit

Political reporter(wp/reuters):::
An attempt by British lawmakers to prevent a no-deal Brexit was gaining momentum on Wednesday after the opposition Labour Party said it was highly likely to throw its parliamentary weight behind the bid.

The United Kingdom, facing the deepest political crisis since World War Two, is due to leave the European Union at 2300 GMT on March 29 but has no approved deal on how the divorce will take place.

Prime Minister Theresa May is battling to break the deadlock after last week’s crushing defeat of her two-year attempt to forge an orderly divorce raised the prospect of an exit without a deal.

In a step that could overturn centuries of constitutional convention, some MPs are trying to grab control of Brexit from the government in an attempt to prevent what they say would be an economically disastrous no-deal departure.

Labour is likely to back one such attempt, an amendment proposed by Labour lawmaker Yvette Cooper that could result in May being given until Feb. 26 to get a deal approved by parliament or face MPs voting on delaying Brexit.

John McDonnell, the second most powerful figure in the party, told the BBC the amendment was sensible and that Labour was “highly likely” to back it. At least nine Conservative MPs have also publicly said they will support it, suggesting that it has a good chance of passing.

Sterling strengthened 0.5 percent against the dollar GBP=D3 to $1.3024, the highest level since mid-November, on a view that a no-deal Brexit can be avoided if parliament exerts greater control over the process.

As the United Kingdom’s tortuous two-and-a-half year crisis over EU membership approaches its finale, the possible outcomes for the world’s fifth largest economy still include a no-deal Brexit, a last-minute deal, a delay or a snap election.

LONDON CALLING?

But the EU, whose members are also worried by the prospect of a disorderly Brexit that would cost jobs in major economies such as Germany, cautioned that no-deal was still the default scenario until London proposed something else.

“Preparing for a no-deal scenario is more important now than ever, even though I still hope that we can avoid this scenario,” EU Brexit negotiator Michel Barnier told a gathering of employers and labour organisations in Brussels.

“Opposing no-deal will not stop no-deal from happening,” he said, adding it would be necessary for the British to find a majority in favour of another solution to a disorderly exit.

Europe’s most powerful leader, German Chancellor Angela Merkel, said she wanted an orderly Brexit but that it was in London’s hands.

May has said thwarting Brexit would threaten social cohesion because it would undermine faith in British democracy, while police have said the “febrile” atmosphere could be exploited by far-right extremists.

Another alternative is that May gets enough concessions from the EU to win over rebels in her Conservative Party as well as the Northern Irish party that props up her minority government.

Some have indicated they could be won over if May manages to secure concessions on the so-called Northern Irish backstop, an insurance policy to keep the border open between the British province and Ireland if a future trade deal falls short.

DELAYED BREXIT

Parliament will vote on Jan. 29 on different options put forward by MPs, potentially opening a way out of the stalemate.

A Labour spokesman said the party would “look at all mechanisms to take no deal off the table and to give parliament more of a say in this process” and that leader Jeremy Corbyn was meeting Cooper on Wednesday to discuss the amendment.

If the Cooper amendment is passed, it would effectively give parliament the power to set May a deadline of Feb. 26 to get a deal through parliament.

If May fails, parliament would be given a vote on asking the EU for a postponement of the Article 50 deadline to prevent Britain leaving without a deal on March 29. It proposes a nine-month extension, to Dec. 31.

May told parliament the move would not solve the issue of the impasse in parliament over the way forward.

“What we have seen is amendments seeking to engineer a situation where Article 50 is extended - that does not solve the issue, there will always be a point of decision. The decision remains the same: no deal, a deal or no Brexit,” she said.

victim named as top business executive and former adviser to the government Eric Salama

Crime reporter(wp/es):::

A victim who was stabbed with “an enormous knife” in an attempted carjacking near Kew Gardens has been named as a top business executive and adviser to the government. 

Eric Salama, 57, was attacked just before 8am on Sunday after walking back to his car from a nearby cafe to find a suspect trying to steal it. 

He suffered a stab wound to the chest and crawled back to the cafe for help, where he was treated by paramedics. 

He is said to be in a stable condition in hospital with non-life-threatening injuries.

Mr Salama is the CEO of global marketing firm Kantar TNS and has previously served as an advisor to the Government on e-commerce and business. 

Between 1984 and 1986, he was a researcher and speechwriter to The Labour Party Foreign Affairs Team in the House of Commons.

Mr Salama is also a trustee of the British Museum and governor of Birbeck College in London.

The university tweeted they were “extremely upset” to learn of the attack.

“We were extremely upset to learn that Eric Salama has been attacked and injured in an incident in Kew. 

“Eric has been a passionate supporter and governor of the College for a number of years and we would like to wish him a speedy recovery. Our thoughts are with him and his family.”

Kantar said in a statement that Mr Salama was recovering well after the incident. 

Mr Salama had been speaking with staff at Café Torrelli nearby before walking back to his car.

It has been reported that when he returned to his car he found a person sitting in the driver’s seat who challenged him. 

He was then knifed in the chest and forced to crawl to the cafe to seek help.

Shop owner Fasink Nizri, 39, told the Mail: 'It happened in a matter of minutes - two minutes - I saw blood, there was screaming. Eric is a decent man and has no problems with anybody.

One witness to the attack wrote on Twitter: 

"Horrific stabbing this morning outside Torellis [coffee shop] - thoughts with the victim.

"Enormous knife. Not what you expect in Kew on a sleepy Sunday morning. Stay safe all."

Police believe the suspect to be a black male wearing a dark hoodie and a snood at the time of the incident. 

Superintendent Rob Applegarth, from the Met's South West Command Unit told the Mail that additional patrols would be conducted in the area in response to community concern. 

“Although this happened fairly early in the morning, we know people would have been up and about and in the area at the time,” he said.

"We are keen to establish the exact circumstances of this incident and would ask anyone with information to contact police immediately."

Anyone with information is asked to contact police on 101 quoting reference CAD 1985/20Jan or tweet @MetCC. You can also call Crimestoppers on 0800 555 111. 

Pregnant teacher tells of terror after her £13k BMW was stolen by men posing as police in south-east London

Crime reporter(wp/es):::

A pregnant teacher today told of her terror after her car was flagged down and stolen by bogus traffic police. 

The 33-year-old newlywed was driving her white BMW 520 to a hospital check-up when she was pulled over in Eltham by two men in a black BMW 4x4 with flashing blue lights in the windscreen.

A white man in his thirties got out, identified himself as a police officer and told her to roll down her window.

Flashing a wallet with a fake ID card, he said: “You were driving a bit fast weren’t you?”

He suggested to the teacher, who is four months pregnant, that he could smell alcohol on her breath, and asked her to step out of her £13,000 car.

He asked her to wait at the roadside while he went to switch off the engine, but jumped into the driver’s seat and sped away — swiftly followed by his accomplice in the black 4x4.

She told the Standard: “I was thinking about what I had done wrong? I’m pregnant and it was 7am so knew I hadn’t been drinking.

“It was dark, he had a collared shirt, a lanyard and flashed this wallet. I’m not stupid. I think I’m quite street savvy, but he was very calm, and was convincing enough to get me out of my car. 

“As soon as I got on the curb I realised the other person didn’t look right. He never got out.

“It was dark, there was no one around. I couldn’t do anything to stop them. They had all my belongings, so I couldn’t phone anyone.”

She knocked on the doors of nearby houses and a resident dialled 999.

She added: “I feel stupid and vulnerable. My head says they could’ve hurt me or my unborn baby. It’s obviously orchestrated, and if it happened to me it could happen to anyone.”

The woman’s handbag was dumped in Blackheath, where it was picked up by a passer-by who found her ID card and contacted her school.

Her husband went through credit card records and found it had been used to buy cigarettes at an off-licence in Charlton. 

The shop owner pulled up CCTV of the transaction and the victim recognised the suspect. 

Her phone was found and taken into a local school and charged, where it was located by a tracker app.

The vehicle, registration WL62 KEU, has yet to be recovered.

Official advice is that police community support officers must be in uniform when they stop and question people. 

There have been no arrests over the incident at 7am on Thursday.

A police spokesman said the suspect who took the car was white, aged 30 to 35, slim-built with close-cropped dark brown hair and facial stubble. The other man was also white, aged 30 to 35.

Anyone with information is asked to contact police on 101 or via Twitter @MetCC, quoting CAD 1098/17JAN, or Crimestoppers anonymously on 0800 555 111 or online at crimestoppers-uk.org

Mum and two children found dead in house

Crime reporter(wp/bbc):::

A mother in her 20s and her two young daughters have been found dead at a house in Bolton.

Police found the bodies of Tiffany Stevens and Caisie, aged three, and one-year-old Darcie, at Arthur Street in Little Lever at 15:50 GMT on Monday.

Greater Manchester Police (GMP) said it was an "incredibly tragic incident", but it was not looking for anyone else in connection with the deaths.

Neighbour Annmarie Crossland, 36, said Ms Stevens was a "brilliant mum".

She added: "They were gorgeous little kids. Great, really nice. She would take them to the park and into Bolton. They were very friendly."

'Paramedics arrived'

Ms Crossland said she was first alerted something was wrong when Ms Stevens's brother and ex-boyfriend were heard "screaming and shouting" in the alleyway at the back of the house before another neighbour rang 999 on Monday afternoon.

She said: "Paramedics arrived first and shot off down the back, then another came and then just all police covered the whole street."

Supt Rick Jackson said: "This is an incredibly tragic incident and we have specialist officers supporting the family at this unimaginably difficult time.

"Our officers will be continuing with inquiries at the scene over the coming days and we are keeping an open mind as to what happened."

Surging labor market boosts UK economy ahead of Brexit

Staff reporter(wp/reuters):::
British workers saw their pay grow at the fastest pace in over 10 years and employment jumped much more than expected in the three months to the end of November, contrasting with other signs of an economic slowdown ahead of Brexit.

Average weekly earnings, including bonuses, rose by 3.4 percent on the year, the Office for National Statistics said on Tuesday, the biggest rise since mid-2008 and beating the average forecast of 3.3 percent in a Reuters poll of economists.

After adjusting for inflation, total pay rose at the fastest pace in two years, but Britons are still earning less in real terms than they were before the financial crisis.

The ONS said the number of people in work increased in the three months to November by the largest amount in seven months, although it is unclear if businesses will maintain hiring at this pace as uncertainty around Brexit mounts.

With little time left until Britain is due to leave the EU on March 29, there is no agreement in London on how it should exit the world’s biggest trading bloc, and a growing chance of a ‘no-deal’ exit with no provision to soften the economic shock.

“The UK’s robust labor market continues to provide much-needed buoyancy for the economy in a period of stress,” said Tej Parikh, senior economist at the Institute of Directors.

Sterling rose against the euro and the U.S. dollar on the figures. Although the labor market is regarded as a lagging indicator of the economy, Tuesday’s figures are likely to hearten Britain’s economic policymakers.

The International Monetary Fund predicted modest growth for Britain’s economy this year and - broadly in line with France and Germany - if a no-deal Brexit can be avoided.

Assuming a relatively smooth transition, the Bank of England has said it will need to raise interest rates gradually to offset inflation pressures from the labor market.

With unemployment at close to its lowest level since the 1970s at 4.0 percent in the three months to November, employers have begun raising pay for staff more quickly.

Excluding bonuses, earnings rose by an annual 3.3 percent in the three months to November, matching October’s pace, the ONS said.

The number of people in work rose by 141,000 in the three months to November, above all forecasts in a Reuters poll that had pointed to a rise of 85,000 and taking the proportion of working-age Britons with a job to a record 75.8 percent.

Separate figures from the ONS showed British government borrowing came in higher than expected in December at 2.976 billion pounds ($3.8 billion), compared with forecasts for borrowing of 1.9 billion pounds, largely reflecting higher European Union budget contributions.

Opposition leader pushes for parliament vote on new Brexit referendum

Political reporter(wp/reuters):::
British opposition Labour Party leader Jeremy Corbyn moved a step closer to paving the way for another referendum on European Union membership by trying to use parliament to grab control of Brexit from Prime Minister Theresa May.

With the clock ticking down to March 29, the date set in law for Brexit, the United Kingdom is in the deepest political crisis in half a century as it grapples with how, or even whether, to exit the European project it joined in 1973.

Since May’s divorce deal with the EU was rejected by 432-202 MPs last week, the biggest defeat in modern British history, MPs have been trying to plot a course out of the crisis, yet no option has the majority support of parliament.

Labour put forward an amendment seeking to force the government to give parliament time to consider and vote on options to prevent a “no deal” exit including a customs union with the EU, and “a public vote on a deal”.

“It is time for Labour’s alternative plan to take centre stage, while keeping all options on the table, including the option of a public vote,” said Corbyn, who put his name to the amendment.

It was the first time the Labour leadership had put forward in parliament the possibility of a second vote, which was welcomed by some opponents of Brexit.

However, the party said it did not mean it supported another referendum and MPs cautioned that the amendment would not garner the support of parliament.

Clarity from London is some way off: MPs have so far put forward six amendments with proposals for a delay to Brexit, a new vote and even for parliament to grab control of the process. They will vote on the next steps on Jan. 29.

“WORST CASE SCENARIO”

Beyond the intrigues of British politics, the future of Brexit remains deeply unpredictable with options ranging from a disorderly exit that would spook investors across the world to a new referendum that could reverse the whole process.

IMF Managing Director Christine Lagarde told CNBC on Tuesday that a no-deal Brexit was “obviously the worst case scenario”.

Ever since the United Kingdom voted by 52-48 percent to leave the EU in June 2016, Britain’s leaders have repeatedly failed to reach a consensus on how to leave the EU.

May on Monday proposed tweaking her deal, a bid to win over rebel Conservative MPs and the Northern Irish party which props up her government, but Labour said May was in denial about the crushing defeat of her plans.

She refused to rule out a no-deal Brexit, warning that another referendum would strengthen the hand of those seeking to break up the United Kingdom and could damage social cohesion by undermining faith in democracy.

With May’s Brexit policy in tatters, MPs in the British parliament are trying to wrest control of Brexit, though there is no clear majority for an alternative to May’s deal.

The EU was not impressed with May’s speech on Monday, as highlighted by the fact that none of its top officials nor its Brexit negotiator made any comments - positive or negative.

German Justice Minister Katarina Barley said on Tuesday she was disappointed by British Prime Minister Theresa May’s plan to break a deadlock over Brexit and suggested Britain hold a second referendum.

Without a approved deal or an alternative, the world’s fifth largest economy will move to basic World Trade Organization rules on March 29 — a nightmare scenario for manufacturers dependent on delicate supply chains which stretch across Europe and beyond.

Company chiefs are shocked at the political crisis and say it has already damaged Britain’s reputation as Europe’s pre-eminent destination for foreign investment.

“Brexit is the most stupid economic decision for a long time, the worst thing that can happen,” Kasper Rorsted, boss of German sportswear firm Adidas, told the Suddeutsche Zeitung.

Asked if Brexit could be averted, he said: “I think the train has already left the station. Emotionally, I hope that all parties can come to their senses.”

Supporters of Brexit say that while there may be some short-term disruption, the warnings of chaos are overblown and that in the long term, Britain will thrive if it cuts loose from what they cast as a doomed German-dominated experiment in European unity.