Nouriel Roubini interview (Part II): ‘Most crypto people are totally clueless’ April 11, 2019 | City Talk When Nouriel Roubini talks, it’s worth a listen. Not known for his optimism, the well-known American economist bears the moniker ‘Dr Doom’. CFA Institute spoke to him about the prospects for global growth (see Part I). In Part II, we focus on cryptocurrencies. CFA Institute: Bitcoin and cryptocurrencies grew out of distrust for central bankers. [...]
Airbus military drone built for Ministry of Defence ‘crashes’ on test flight in Australia April 11, 2019 An Airbus drone built to carry out surveillance missions for the Ministry of Defence was downed by bad weather on a test flight in Australia last month, it has emerged. Read more: Airbus claims US trade sanctions on its aircraft are excessive The Zephyr solar-powered drone is believed to have crashed on the test flight [...]
Sports Direct takes another swipe at Debenhams in share buyback April 11, 2019 Sports Direct took a further swipe at Debenhams this morning amid growing speculation that Mike Ashley is mulling legal action to remove the retailer’s current administrators. Read more: Mike Ashley considers legal action against Debenhams In a note to the London Stock Exchange the sportswear group announced a new share buyback programme, which it said was [...]
CBI expresses ‘deep concern’ at prospect of Prime Minister Boris Johnson April 11, 2019 The head of the Confederation of British Industry (CBI) today expressed worries about the prospect of Boris Johnson becoming prime minister, saying “there would be deep concern amongst the business community”. Read more: David Davis: Pressure building on May to resign Carolyn Fairbairn also struck a fearful tone about Labour’s plans for the economy, telling [...]
Sterling unmoved by Halloween Brexit delay as investors ‘desensitised to Brexit shambles’ April 11, 2019 Sterling investors have become “desensitised to the Brexit shambles” as the currency remained broadly unmoved by EU leaders granting an extension to Article 50 until 31 October. The pound remained steady at $1.308 this morning despite the announcement that Brexit would be delayed until Halloween in the early hours of the morning. Read more: Pound [...]
We pick six investment managers to beat Brexit blues April 11, 2019 | City Talk By Jemma Jackson from interactive investor. With MPs failing to agree a Brexit outcome, we name the funds and trusts to weather the political storm. Charles de Gaulle reportedly said that “politics is too serious a matter to be left to the politicians.” With the chaos currently surrounding Brexit, and as MPs are united only [...]
Pressure on May to resign will ‘increase dramatically’, says David Davis April 11, 2019 Pressure on Prime Minister Theresa May to resign will “increase dramatically” following a Halloween Brexit extension secured last night, David Davis has said. “I think what is likely to happen is the pressure for her to go will go up,” the former Brexit secretary told the BBC’s Today programme. “Whether it will come to anything [...]
London housing market bearish in face of Brexit, chartered surveyors say April 11, 2019 Sentiment among London’s chartered surveyors is among the worst in the country, with house prices expected to fall in the capital over the next year, new figures show. In a poll of its members, the Royal Institution of Chartered Surveyors (RICS) found London and the South East were the only two parts of the country [...]
Sir Philip Green appoints restructuring specialists to Arcadia’s board April 11, 2019 Sir Philip Green has appointed restructuring experts to the board of his retail empire as the billionaire tycoon prepares to overhaul the company. Former Deloitte partner Jamie Drummond Smith, who was the chairman of Cattles, has joined the board as interim chairman and Peter Bloxham, an independent restructuring advisor and former head of restructuring and [...]
European Council president Donald Tusk warns UK ‘not to waste’ Halloween Brexit extension April 11, 2019 European Council president Donald Tusk has warned the UK “not to waste” the extra time to find a way forward with Brexit after the EU agreed to extend Article 50 to Halloween. “Please don’t waste this time,” Tusk told a news conference following eight hours of EU leaders’ talks which culminated in a delay until [...]