United Kingdom
Pound fell to weakest since 2010, as Exchequer Chancellor warns of global threats
The pound drops to its weakest since June 2010 by 0.4 percent to only $1.4575 9 am January 7 London, as Chancellor of the Exchequer George Osborne warns of threats abroad against the British economy in 2016.
Designer Paul Smith reorganized his fashion empire after worst performing annual profit
Britain fashion icon Sir Paul Smith revamped his company after annual profits plunged 50 percent into the lowest levels since its 40-year existence. This Is Money reported that Smith said his fashion empire needs a "kick up the backside." He said been streamlining the brand's clothing ranges, shut down to stores, and made some managers redundant. The company's pre-tax income went down £9.7million this year ending June, a decrease from last year's £20.7million.
Motorola Solutions Acquires Airwave for $1.2 Billion
Motorola acquires UK's Airwave for $1.2 billion to enhance its service business in mobile communication.
Britain Expand Its Military Spending In Defense Against Islamic State
Amidst a growing threat from Islamic State terrorism, Britain strengthen its defense by spending more budget on defense and security. According to CNN, Britain will beef up its security by purchasing nine new Boeing P8 maritime patrol aircraft for surveillance and anti-submarine warfare,with additional spending of £12 billion ($18 billion).