Corbyn would ‘turn back the clock decades’ says CBI after Labour announces plans for workers’ rights ministry September 10, 2019 British business leaders yesterday described Labour’s plans for a new ministry of workers’ rights as an attempt to “turn back the clock decades,” as Jeremy Corbyn set out his vision ahead of a potential election. The Confederation of British Industry (CBI) said that the proposals did not reflect the reality in most UK workplaces. “The [...]
Most likely Brexit outcome? PM Boris’s resignation, says JP Morgan September 10, 2019 Of the three main options facing Boris Johnson, the most likely outcome is that he will resign, leaving a new prime minister to go to the EU and request a Brexit extension, JP Morgan said today. In a research note sent to clients, JP Morgan’s head of UK economics Malcolm Barr outlined the “only options” [...]
Woodford crisis wipes £36m off Kent County Council’s stake in flagship fund September 8, 2019 Kent County Council has seen £36m wiped off the value of its investment in Neil Woodford’s Equity Income Fund (EIF) since its suspension, new figures have shown. The beleaguered stockpicker’s flagship fund suspended withdrawals on 3 June after becoming overwhelmed by investors demanding their money back. An official disclosure, first reported in the Sunday Telegraph, [...]
Not in the pink anymore: Jack Wills collapse leaves creditors out of pocket September 8, 2019 Jack Wills owed over £100m to creditors including HSBC and several councils when it collapsed into administration last month. The preppy clothing brand was bought by Mike Ashley’s Sports Direct for £12.8m in August, faces leaving a slew of companies out of pocket. Read more: Jack Wills stores at risk as Sports Direct kicks off [...]
Sir Richard Branson’s Virgin Galactic faces first investor vote of confidence on stock market listing September 8, 2019 Sir Richard Branson’s space tourism venture Virgin Galactic faces its first test of investor confidence in a proposed stock market float tomorrow. Would-be shareholders will vote on whether to back the entry via investment vehicle Social Capital Hedosophia (SCH), or whether to withdraw their cash entirely. Read more: Richard Branson’s Virgin Galactic plots public listing [...]
Boris Johnson’s former advisor Gerard Lyons misses Bank of England governor shortlist September 7, 2019 The former economic advisor to Prime Minister Boris Johnson has failed to make the final shortlist to become the Bank of England’s next governor. Gerard Lyons had been the favourite to take over from Mark Carney due to his personal relationship with Johnson, but the Treasury have deemed him unsuitable for the role, according to [...]
MPs willing to go to court to ensure Boris Johnson delays Brexit September 7, 2019 A number of MPs are preparing to take legal action in case Boris Johnson refuses to seek a delay to Brexit. A bill to block a no-deal Brexit has been passed through the House of Commons and House of Lords and will become law once it gains royal assent. Read more: House of Lords approves [...]
Police chief criticises Boris Johnson for using ‘officers as a backdrop’ to political speech September 6, 2019 Boris Johnson has come in for criticism for using the West Yorkshire police force as a backdrop to a political speech on Thursday. Chief constable John Robins said he had been misled by Downing Street and told that his police force’s involvement would be “solely about police officer recruitment”. Read more: Opposition parties to block [...]
Sterling rallies against dollar to pass $1.23 as Boris grapples with Brexit September 5, 2019 Sterling has broken through the $1.23 barrier today as traders’ shorts are being squeezed amid a GBP rally. Read more: Prime Minister’s election plan scuppered as Labour holds out until Halloween Confidence in the currency has reversed over the last two days as it recovers from hitting a 34-year low earlier this week. The pound [...]
Boris Johnson’s decision to prorogue parliament is legal, Scottish court rules September 4, 2019 Boris Johnson’s move to prorogue parliament in the run up to the Halloween Brexit deadline is legal, a court has ruled. A Scottish court today rejected a legal challenge to stop the shutdown of parliament for almost five weeks until 14 October. Read more: Rebel, rebel: Boris Johnson faces day two of defiance MPs have [...]
