Brexit: Theresa May gathers cabinet ministers to discuss draft agreement November 13, 2018 Theresa May has reportedly scheduled an emergency cabinet meeting for tomorrow morning to discuss a draft Brexit deal. Text governing the UK’s departure from the EU has reportedly been agreed at a technical level between negotiators, after a week in which talks have gone on long into the night. Downing Street summoned Cabinet ministers for [...]
CNN sues President Trump for banning correspondent from the White House November 13, 2018 CNN filed a lawsuit against the Trump administration today after the White House banned reporter Jim Acosta following a fiery exchange with the US President. The broadcaster is demanding that the White House return Acosta’s credentials, claiming the administration has harmed both its own and Acosta’s constitutional rights. “While the suit is specific to CNN [...]
JP Morgan makes senior hire from Deutsche Bank November 13, 2018 JP Morgan has hired a senior banker from Deutsche Bank amid the German lender’s restructuring of its investment bank. Claire Brooksby has joined JP Morgan’s UK financial institutions coverage team in London as a managing director. She spent eight years at Deutsche, most recently leading the bank’s financial institutions group in the UK. Prior to [...]
Germany’s Merkel calls for creation of European army November 13, 2018 German Chancellor Angela Merkel has called for the creation of a European Army, stressing that such an effort would not mean an end to the US-led Nato. The announcement, marking a seismic change in the EU’s common defence policy, comes amid tensions with Russia and worsening relations with US President Donald Trump’s more inwards-looking administration. [...]
Wework bags $3bn in additional funding from Softbank November 13, 2018 Flexible workspace provider Wework has secured an additional $3bn (£2.3bn) in funding from Softbank, as it pushes ahead with its global expansion plans despite continuing to report losses across the board. The new funding builds on the $1bn that Wework received from the Japanese mega-investor in the form of a convertible bond earlier this year. Today's investment will be granted [...]
Productivity is still a problem: Five takeaways from today’s economic data November 13, 2018 Wages are up even as unemployment grew in the three months to the end of September, according to the latest statistics released today. If you missed our news story earlier today, here are the biggest takeaways from the latest tranche of economic data. Productivity is still problematic UK productivity dropped in the third quarter as [...]
Chewing the cud: Vegan startup Beyond Meat introduces plant-based burger to UK November 13, 2018 US plant-based food company Beyond Meat yesterday moved into the UK, bringing its vegan burgers to British supermarkets and restaurants. The Los Angeles-based business produces the plant-based Beyond Burger, which it says replicates the texture of meat while providing added nutritional benefits. The Beyond Burger went on sale yesterday at 350 Tesco branches across the country. [...]
Two headquarters are better than one: Amazon confirms New York and Virginia will be home to new HQs November 13, 2018 Web giant Amazon has confirmed it will build its new headquarters in New York City and Northern Virginia, after reports earlier this morning. The online retailer has whittled down over 230 proposals, and decided to split its second North American headquarters over two sites. The projects, which were announced today, will create up to 50,000 [...]
Big three eurozone investment banks Deutsche Bank, Societe Generale and BNP Paribas face €11bn threshold after EU stress test November 13, 2018 Top European investment banks would have to raise €11bn (£9.57bn) to meet the informal threshold implemented by the central bank following a stress test. Deutsche Bank, Societe Generale and BNP Paribas would need to raise the funds, according to Reuters calculations, after the European Central Bank (ECB) said eurozone banks with capital worth less than nine [...]
Iceland’s banned palm oil advert could win over middle class shoppers as supermarkets prepare for Christmas November 13, 2018 Iceland could get a shot in the arm from its banned Christmas advert by appealing to middle class shoppers, according to consumer research firm Kantar Worldpanel. The supermarket's advert, which caused a storm on social media when it was deemed “too political” to be aired by Clearcast, could be exactly what the store needs to reach out to [...]