Home secretary Sajid Javid confirms no automatic rights for EU workers after Brexit July 10, 2018 Home secretary Sajid Javid has confirmed there will be no "automatic right" for EU citizens to work in the UK after Brexit, potentially ramping up tensions between him and Cabinet colleagues. Speaking to the Home Affairs Committee this morning, Javid declined to comment on whether highly-skilled workers would be able to look for a job [...]
Tesco UK boss Charles Wilson steps down as chief executive after cancer treatment July 10, 2018 Tesco has announced its UK boss Charles Wilson will step down from his role as chief executive following treatment for cancer. He will remain on the executive committee. Shares slipped 1.6 per cent in early trading on the news. Jason Tarry, currently group chief product officer, will now become chief executive of the supermarket giant's [...]
Poundland founder in talks to salvage Poundworld July 9, 2018 Poundland founder Steve Smith is in talks with Deloitte over a bid for rival Poundworld, as the chain's own founder confirms he is out of the running. Smith, who sold Poundland to Advent International in 2002, is in the early stages of talks with administrators Deloitte about a possible rescue deal. Poundworld founder Chris Edwards [...]
Who could replace David Davis as Brexit secretary? July 9, 2018 The Prime Minister will this morning have to decide who to replace David Davis as Brexit secretary after he resigned late last night. It is not a simple move, as Theresa May's Cabinet is finely balanced between Remainers and Leavers. Davis had voted Leave in the referendum, but whoever she now picks must get behind [...]
Barclays doubles unsecured lending limit for smaller firms July 9, 2018 Barclays will double its cap on unsecured lending to small businesses from £50,000 to £100,000 as it bids to drive lending volumes. The high street lender believes that as many as 40,000 firms will be eligible for the larger loans. It will also today announce it is raising the cap on unsecured overdrafts for firms [...]
US ambassador Woody Johnson warns that trade deal is ‘up in the air’ after Chequers plan unveiled July 9, 2018 The US ambassador has warned that a post-Brexit free trade deal is "totally up in the air" after the details of Theresa May's Chequers plan emerged this weekend. The new policy – which the Prime Minister hailed on Friday evening as "business-friendly" – is based around a common rule book for industrial goods and agricultural [...]
Brexit secretary David Davis and minister Steve Baker resign arguing PM’s policy leaves UK in ‘weak’ and ‘inescapable’ position with EU July 9, 2018 Brexit secretary David Davis has resigned, just nine months before the UK is to leave the EU, arguing Theresa May's new approach is damaging the country's position. The Cabinet minister quit his position, saying "the current trend of policy and tactics" was making it look less and less likely that the government could "deliver on [...]
Co-op Bank names former Lloyds Commercial Banking boss as new CEO July 9, 2018 The Co-perative Bank has appointed a new boss who was once tipped as a favourite to become chief executive of Lloyds. Andrew Bester was previously group director and chief executive of the Commercial Banking division at Lloyds Banking Group. He was at one point viewed as a possible candidate to become chief executive of the [...]
David Davis: May’s Brexit policy is ‘sword of Damocles’ July 9, 2018 Outgoing Brexit secretary David Davis has said he quit government because Theresa May's policy would result in a "sword of Damocles" hanging over the UK. The Cabinet minister resigned late last night, just 48 hours after the Cabinet signed off on the Prime Minister's new plan to negotiate for a common rulebook as the overarching [...]
Chinese bid for Northern Aerospace fails amid security fears July 9, 2018 Chinese takeover attempts to buy a British defence company have fallen through, according to UK private equity firm Better Capital. Approval has not been given for aircraft parts maker Northern Aerospace to be purchased by Derby-based Gardner Aerospace, a subsidiary of Chinese aerospace and mining firm Shaanxi Ligeance Mineral Resources. Read more: Aerospace sector revises [...]