US informs Russia it will not rejoin Open Skies arms control pact May 27, 2021 The Biden administration has informed Russia that it will not rejoin a key arms control pact, even as the two sides prepare for a summit next month between their leaders. US officials said Deputy Secretary of State Wendy Sherman told the Russians that the administration had decided not to re-enter the Open Skies Treaty, which [...]
Cummings: Govt and Bank of England feared lockdown would set off bond market meltdown May 26, 2021 Both the UK government and the Bank of England were afraid bond markets would face a meltdown if the economy was sent into lockdown, according to Dominic Cummings. Boris Johnson’s former advisor revealed during a parliamentary hearing in Westminster that it was the Bank of England that warned for the potential impact of a lockdown [...]
PMQs: Boris hits back at Cummings’ ‘complacency’ allegations May 26, 2021 The Prime Minister refused to agree with his former chief aide Dominic Cummings that the Government had “failed” the British people during the Covid-19 pandemic. Under questioning from Labour leader Sir Keir Starmer, Boris Johnson denied he had referred to the Covid-19 pandemic as a “scare story,” an allegation made by Mr. Cummings. “I don’t [...]
US businesses team up to oppose Biden’s tax rise proposals May 25, 2021 Business groups in the US have formed a coalition to oppose tax increase proposals by the Biden administration. The US government has proposed a global minimum corporation tax rate, as well as increasing tax payments in the US in order to pay for infrastructure projects. The tax proposals “could not come at a worse time”, [...]
Morgan Stanley shakes up leadership as race for CEO successor intensifies May 20, 2021 Morgan Stanley announced a number of leadership changes and set off a competition between potential successors to replace Chief Executive Officer James Gorman in the next few years. In a statement Gorman said the announcement “reflects the next generation of leadership at Morgan Stanley.” “I am highly confident one of them will be the CEO in [...]
Musk’s UK visit fuels speculation a Britain-based Tesla plant is on the cards May 20, 2021 Elon Musk visited the UK last weekend, fuelling speculation that Tesla is exploring the possibility of setting up a car plant in Britain. The government’s new Office for Investment has called upon regional agencies to urgently submit potential locations for a new factory, the Telegraph first reported, a move that would add £80bn to Britain’s [...]
Trump calls criminal probe ‘corrupt’ and claims he is ‘unfairly attacked and abused’ May 19, 2021 Former US President Donald Trump said he was “being unfairly attacked and abused” in response to reports that New York’s attorney general has launched a criminal probe into his family business. “There is nothing more corrupt than an investigation that is in desperate search of a crime,” Trump said in a statement. He added that “we will overcome” any [...]
Criminal investigation into Trump Organisation launched by New York state May 19, 2021 The New York attorney general’s office has opened a criminal investigation into Donald Trump’s company, it confirmed today. Attorney general Letitia James has been investigating whether the Trump Organisation has obscured property values to bag loans and tax breaks. It signals an escalation of the legal threat the former Republican president faces, just four months [...]
Biden charges up $174bn electric vehicle plan in Michigan speech May 18, 2021 US President Joe Biden today called for government grants for new battery production facilities as he made the case for his $174bn (£123bn) electric vehicle plan today. During a speech at a Ford electric vehicle plant in Michigan, Biden vowed to “set a new pace” for the technology and reverse what he described as the [...]
JP Morgan Chase: Potential successors to Jamie Dimon move up as Pinto becomes sole president May 18, 2021 In a reshuffling of its top ranks, JP Morgan Chase has raised up two potential successors to chief executive Jamie Dimon while co-chief operating officer Gordon Smith will step down from his roles at the end of 2021. The two possible earmarked successors, Marianne Lake and Jennifer Piepszak, will take new roles as Daniel Pinto [...]
