Tesla sues former engineer for allegedly passing tech secrets to Chinese rival Xiaopeng March 22, 2019 Tesla has accused a former employee of stealing trade secrets and handing them over to a Chinese rival. Elon Musk’s firm has filed a lawsuit alleging one of its former engineers, Guangazhi Cao, copied the source code for its Autopilot self-driving technology before joining Chinese startup Xiaopeng Motors. Read more: Tesla launches new Model Y [...]
Bitcoin critic warns central banks ‘risk financial stability’ by issuing digital currencies March 22, 2019 A prominent bitcoin critic has warned central banks against issuing their own digital currencies. Read more: JP Morgan launches its own cryptocurrency Augustin Carstens claimed central banks issuing digital tokens would need to take on customer-facing tasks that would result in “huge operational consequences for central banks in implementing monetary policy and implications for the stability [...]
Brexit march London 2019: Londoners warned to avoid key Tube stations March 22, 2019 Transport for London (TfL) has warned commuters to avoid 13 key Tube stations across the capital ahead of tomorrow's People's Vote Brexit march. Londoners were warned to expect "extremely busy" stations and London Underground during Saturday's Put it to the People march, which hundreds of thousands of protesters are expected to take part in. Read more: Tusk says 'anything possible' [...]
Donald Tusk says ‘anything could be possible’ after EU agrees Brexit delay March 22, 2019 European Council president Donald Tusk said the extension of Article 50 agreed last night at the EU summit in Brussels meant any Brexit outcome was possible. Tusk told a press conference on the second day of the summit that the delay of the Brexit date until 12 April meant "anything could be possible: a deal, [...]
Debenhams flags ‘obvious concerns’ over £100m bid to make Mike Ashley CEO March 22, 2019 Debenhams has turned down Sports Direct's offer to buy its Danish business with the condition that Mike Ashley oust current boss Sergio Bucher to become the company's chief executive. Earlier today Sports Direct made a £100m offer for Magasin du Nord and claimed it would help the company's liquidity, while also giving Debenhams the freedom to buy it [...]
Business groups call on Theresa May to use Article 50 extension to avoid no-deal Brexit March 22, 2019 Business groups have called for Prime Minister Theresa May to use to the extension of Article 50 agreed last night to avoid a no-deal Brexit. EU leaders last night agreed to push the Brexit deadline back to 12 April from the previous date of 29 March. Read more: Goldman Sachs says no-deal Brexit has become [...]
Mike Ashley makes fresh £100m bid to become Debenhams CEO by buying Magasin Du Nord March 22, 2019 Mike Ashley has made another attempt to install himself as Debenhams chief executive, with Sports Direct making a £100m offer for the department store chain's Danish business. In a statement Sports Direct said it would purchase the business, which was put up for sale last year, for £100m, "in order to assist Debenhams with its short term liquidity requirements". [...]
Debenhams share price crashes as it asks shareholders to risk equity on £200m loan March 22, 2019 Debenhams’ shares tanked this morning as it asked investors to sign off a £200m funding lifeline that could lead to shareholders’ equity being wiped out. Read more: Debenhams on the verge of sealing £200m funding from lenders The £200m funding would prevent the embattled department store chain from falling into the hands of billionaire Mike [...]
Debenhams on the verge of sealing £200m funding from lenders March 22, 2019 Debenhams is close to receiving a £200m lifeline from lenders that would prevent the department store falling into the hands of largest shareholder Mike Ashley. A deal finalising its borrowing facilities, which are larger than expected, could be announced as soon as today, according to Sky News. Read more: Levi shares soar as jeans retailer makes stock market [...]
Midnight crisis: EU leaders offer two new Brexit delay deadlines March 22, 2019 European leaders debated late into last night in a bid to avert a no-deal Brexit on 29 March, with negotiators agreeing to give Theresa May one last shot at getting her deal through parliament. Read more: Editor’s Notes: A dose of rational optimism blew away the fog of Brexit The Prime Minister travelled to Brussels [...]
