MPs give final approval to Theresa May’s Brexit Bill to kick off the process of leaving the European Union February 8, 2017 The House of Commons has voted to approve the unamended Article 50 Bill in a historic night in Westminster. MPs voted 494 to 122 in favour of the Bill being passed on for scrutiny in the House of Lords. Labour and Conservative MPs were under strict orders to back the Article 50 Bill, although both [...]
Labour shadow business secretary Clive Lewis quits frontbench to vote against Article 50 Bill February 8, 2017 Shadow business secretary Clive Lewis MP has announced his resignation from the Labour shadow cabinet, saying he could not back the government's Brexit Bill. He said: “When I became the MP for Norwich South, I promised my constituents I would be ‘Norwich’s voice in Westminster, not Westminster’s voice in Norwich’. I therefore cannot, in all good conscience, [...]
As China’s central bank hauls in several bitcoin exchanges, could governments crush the cryptocurrency? February 8, 2017 Harriet Green, deputy business features editor at City AM, says Yes: If governments like China’s perceive bitcoin to be a threat, they will seek to undermine it. While they couldn’t destroy existing bitcoins, they could destroy demand. Any cryptocurrency is at risk of being made illegal by any government. Granted, users can move underground, but [...]
London Assembly members pressure Sadiq Khan to rule out more money for the Garden Bridge February 8, 2017 London Assembly members are pressing mayor Sadiq Khan to guarantee the capital won’t foot the bill for the Garden Bridge’s running costs. Assembly members backed a motion 16 – 1 calling for Khan to rule out further chunks of taxpayer money being used to maintain the controversial construction. Read More: Vauxhall MP slams Garden Bridge project [...]
McLaren’s opening a £50m supercar chassis facility in Sheffield February 8, 2017 Supercar maker McLaren is revving up the UK's manufacturing credentials with the announcement it's moving production of carbon fire chassis from Austria to the UK. It's moving into Sheffield with a £50m investment in manufacturing facilities, creating 200 jobs in the process, as the firm looks to launch a production facility next to the University [...]
Candy brothers accused of subjecting businessman to campaign of abuse over loan deal gone wrong February 8, 2017 Property tycoons Nick and Christian Candy were brought to court today over claims they threatened a businessman over a loan deal gone awry. Entrepreneur Mark Holyoake, who is known for the now collapsed British Seafood importing business, is suing the brothers for £132m in damages in London's High Court. Holyoake, a former long-time friend of Nick [...]
HS2 faces questions over the hiring of its new chief executive and concerns of a “revolving door” to a contractor February 8, 2017 High Speed 2 bosses face questions over the appointment of their chief executive just days before MPs sign off on the first stage of the project. Phase one of HS2 is expected to be greenlit within days of parliament’s return from recess on 20 February. The project recruited Mark Thurston to serve as its new chief [...]
Mayor Sadiq Khan facing calls to make London football clubs foot £5m policing bill February 8, 2017 Mayor Sadiq Khan has been urged to ensure that London’s football clubs pay the £5m it costs to police their matches every year. The London Assembly agreed a motion on Wednesday asking Khan to lobby government for a change in the law that would make clubs foot the full bill for policing. Clubs are currently [...]
Trio of ex-Barclays bankers convicted of Libor rigging due to face confiscation hearing tomorrow February 8, 2017 Three ex-Barclays bankers previously found guilty of Libor-rigging offences are scheduled for confiscation hearings in a London court tomorrow. Jonathan Mathew, Jay Merchant and Alex Pabon were convicted and handed jail sentences last summer in the third case brought to court as part of the Serious Fraud Office's ongoing Libor investigation. Former submitter Mathew is currently serving a [...]
Why Monte dei Paschi shares might get kicked from the blue-chip index tomorrow February 8, 2017 Monte dei Paschi di Siena's management board need to decide tomorrow whether it is going to reinstate its shares in the near future, or risk being kicked from Milan's blue-chip index. Shares in the troubled Italian lender have been suspended for trading since last December, when a private sector rescue plan, designed to pump €5bn (£4.3bn) into the [...]