Break the chain: Spotify backers fund estate agent Nested November 11, 2018 An estate agent that helps homeowners buy their next property chain-free has received £120m from the backers of Spotify, Betfair and Revolut. Nested gives homeowners a cash advance of up to 94 per cent of their property’s value, allowing them to buy a new home before completing a sale. The rest of the value is [...]
City faces a Brexit ‘nightmare’ unless a deal is done by Christmas, says new lord mayor November 11, 2018 The new lord mayor of London has said banks and insurers will face an "administrative nightmare" unless a Brexit deal is secured by Christmas. Former Barclays executive Peter Estlin told the Sunday Times that there was a "huge amount" of anxiety in the City despite recent suggestions that the Prime Minister was closing in on a [...]
Insolvency Service to meet Frank Field over refusal to reopen BHS investigation November 11, 2018 Frank Field, chair of the work and pensions committee, will meet the Insolvency Service (IS) later this month after it refused to reopen its investigation into the collapse of BHS. The IS concluded its investigation, which saw Sir Philip Green escape a boardroom ban, in March but accounting watchdog the Financial Reporting Council (FRC) has [...]
Keir Starmer brands Theresa May’s no-deal warnings a ‘political hoax’ November 11, 2018 Shadow Brexit secretary Keir Starmer has said threats of leaving the European Union without a deal are a "political hoax". Starmer, who has called for a second referendum or people's vote, said MPs were not duty-bound to vote through a "bad deal" in parliament and must instead "take back control". Writing in the Sunday Times, Starmer said the [...]
Crowds gather to mark 100th anniversary of WW1 on Remembrance Sunday in London November 11, 2018 Politicians, the Royal Family and the military will mark the 100th anniversary of the end of the First World War this Remembrance Sunday as the nation holds a two minute silence. The National Service of Remembrance is held at the Cenotaph in Whitehall at 11am to commemorate British and Commonwealth soldiers killed in the First [...]
Daily Mail owner eyes The i newspaper as struggling Johnston Press looks to offload assets November 10, 2018 The company behind the Daily Mail is considering a bid for the 'i' newspaper a month after owner Johnston Press said it would put itself up for sale. The Daily Mail and General Trust is in the early stages of planning a bid due in a few weeks, Sky News reported. The newspaper, which is housed in [...]
Netflix boss Reed Hastings excited by new rivals Disney Plus as they continue expansion November 10, 2018 Netflix chief executive Reed Hastings has claimed he is looking forward to the challenge prosed by Disney, who are launching their own online streaming service. The new service, Disney Plus, will go head to head with Netflix and Amazon Prime when it launches late next year. Hastings has admitted that Disney are a "formidable" company in the [...]
Federal Reserve will now publish semi-annual stability reports in bid to tackle risk November 10, 2018 The Federal Reserve will now publish periodic reports on the US financial system's stability twice a year, starting on November 28. The report will feature an overview of how the Federal Reserve's governors assess the financial sector's resilience and try to detail any risk as the country's economy continues to expand. “We learned from the financial [...]
Hedge fund Marshall Wace to expand Dublin operation in Brexit contingency plan November 10, 2018 Marshall Wace has become the latest investment group to begin putting its post-Brexit contingency plans into action, despite chairman Paul Marshall being a Brexit supporter. The $35bn manager has received licenses to run management companies in Ireland and plans to increase its presence in Dublin as a protective measure ahead of the UK leaving the EU. Marshall [...]
Essex fizz could give French winemakers a run for their money November 10, 2018 Wine from Essex could rival the Champagne region of France, scientists have found. A study from the University of East Anglia showed that some of the UK’s best land for wine production was in areas like Essex and Suffolk. The researchers found nearly 35,000 hectares of prime land for cultivating grapes across England and Wales, [...]