David Lidington warns Tory MPs a future Brexit deal must respect May’s withdrawal agreement March 28, 2019 Theresa May's de facto deputy today cautioned that those who lead the next stage of the Brexit negotiations must abide by the current withdrawal agreement with the European Union. In particular, David Lidington said, they must follow the rules laid out in the withdrawal agreement about “citizens rights, a financial settlement, and arrangements to secure an [...]
Mitie ‘would be foolish’ not to consider buying Interserve’s support services arm, says chief Phil Bentley March 28, 2019 The boss of outsourcer Mitie has confirmed the company has expressed an interest in buying Interserve’s support services business. Speaking to City A.M., chief executive Phil Bentley said reports that the company was looking to cash in on Interserve’s collapse into administration were a result of Mitie “registering an interest”. Read more: Mitie's order book shrinks as [...]
Network Rail to spend £42bn on railway improvements after year of chaos March 28, 2019 Network Rail is to spend £42bn on the railways over the next five years after passengers endured a torrid year of delays and cancellations. Network Rail, which owns Britain's rail infrastructure, has said the funds will increase reliability and improve performance for the benefit of passengers during its next control period, CP6, which starts on 1 April this [...]
Bondholders back Debenhams for £200m restructuring loan in blow to Mike Ashley bid March 28, 2019 Debenhams moved one step closer to carrying out its major restructuring plan this morning after revealing that it has secured the support of bondholders. In what could be a major blow for retail tycoon Mike Ashley, who is currently mulling his own bid to buy the company and prevent his 30 per cent stake from [...]
JP Morgan plans to cut hundreds of asset and wealth management jobs March 28, 2019 JP Morgan Chase & Co is cutting hundreds of jobs across its asset and wealth management division. The investment bank plans to dismiss employees in support roles and some wealth management staff across the firm’s global business as part of an annual review. Read more: City banks back women's wealth scheme “It is normal course of [...]
Liz Truss urges colleagues to back May’s deal and says UK should slash red tape March 28, 2019 Chief secretary to the Treasury Liz Truss called on her colleagues in the Conservative party to support Theresa May's Brexit deal today, while painting a picture of a post-European Union Britain with less “red tape” and a new regulatory system. The Treasury number two also used a speech to the British Chambers of Commerce (BCC) [...]
Standard Chartered to build new virtual bank in Hong Kong in fintech drive March 28, 2019 Standard Chartered will head up a new virtual bank in Hong Kong after being granted a licence by the region’s regulator. The London-headquartered bank will lead a joint venture with IT firm PCCW, telecoms company HKT and online travel company Ctrip Finance to build a standalone digital retail bank. Shares in the bank, which will [...]
DUP still opposed to Theresa May’s Brexit deal as it insists abstaining was ‘never an option’ March 28, 2019 The head of the Democratic Unionist Party (DUP) has repeated that her party will not support Theresa May's Brexit deal if it is put before parliament again and insisted that abstaining was "never an option". Arlene Foster, who leads the Northern Irish party that props up the Prime Minister's minority government, confirmed the 10 members of [...]
Huawei criticised by UK for security flaws in its mobile network March 28, 2019 The UK has criticised Chinese tech giant Huawei for failing to fix security flaws in its mobile network equipment and has revealed new technical issues, as the company fights suspicions that it could be a Trojan horse for China’s spies. Read more: Trump: UK's 5G plans put national security at risk In its report, released [...]
Eurozone economic sentiment dips as UK confidence grows March 28, 2019 Economic sentiment in the European Union and the eurozone fell this month, while confidence in the UK jumped 1.6 points. Sentiment in the euro area dropped by 0.7 points to 105.5 and in the EU sentiment fell by 0.4 points to 105, according to the European Commission’s latest business and consumer survey. Read more: Draghi [...]