MPs’ Magnitsky amendment to criminal finances bill would see abusers’ assets frozen in the UK December 5, 2016 New powers to freeze the UK assets of those suspected of abusing human rights have received the backing of a cross-party group of influential MPs ahead of a parliamentary vote on the latest anti-corruption legislation. The MPs, led by Dominic Raab, conservative MP for Esher & Walton, have tabled an amendment for the asset freezing [...]
Italian PM Matteo Renzi resigns after crushing referendum defeat December 5, 2016 The euro dived to a 20-month low in the early hours of this morning after Italian Prime Minister Matteo Renzi said he would resign following a crushing defeat in the country’s referendum on constitutional reform. Voters comprehensively rejected Renzi’s flagship proposals to streamline parliament, predominantly by cutting the size and power of the Senate. At the time [...]
Article 50 rematch: Government heads to top court with revamped Brexit argument December 5, 2016 All eyes will be on the Supreme Court today as the attorney general doubles-down on the government's claim that the Prime Minister does not need parliamentary approval to trigger Article 50. Jeremy Wright will be the first to put forward arguments in the four-day hearing, while lawyers for pro-parliament activists who won their argument at the [...]
Ownership of over 40,000 London properties shrouded in secrecy December 5, 2016 Thousands of London's properties are held by overseas companies registered in so-called secrecy havens, obscuring the details of their true ownership, a report out today has found. The report from Transparency International UK and Thomson Reuters identified 44,022 land titles owned by 23,653 overseas companies in Land Registry data. Of these, 91 per cent of companies, holding 40,098 of the land [...]
EU Commission piles pressure onto US tech giants Facebook, Twitter, Google’s YouTube and Microsoft to improve responses to hate speech December 4, 2016 The EU Commission has warned US tech firms Facebook, YouTube, Microsoft and Twitter they need to act faster to tackle online hate speech or will face laws forcing them to do so. The warning yesterday came six months after the four technology giants signed up to a voluntary code of conduct to take action in [...]
Italian referendum: Exit polls indicate PM Matteo Renzi defeated by “no” vote against constitutional reform December 4, 2016 The Italian public has rejected a referendum over Prime Minister Matteo Renzi's plan to reform the constitution, exit polls suggest. Between 42 per cent and 46 per cent of voters backed reform, an exit poll on state broadcaster RAI has indicated, while 54 per cent to 58 per cent voted "no". Read more: Italy expected [...]
Business growth remains steady as high street has a rosy month, Confederation of British Industry (CBI) data shows December 4, 2016 British businesses enjoyed modest growth in the three months to November, and are expected to maintain the pace into 2017, according to a survey published today. Private sector growth remained steady in the last three months, research from the Confederation of British Industry (CBI) showed, while retailers and consumer-facing companies reported a rise in growth. “The [...]
Greenergy in sale talks with Brookfield December 4, 2016 Fuel supplier Greenergy is in advanced talks to sell a stake to Canadian giant Brookfield. Greenergy, which claims to transport a quarter of the road fuel used in the UK at around 18bn litres each year, has been locked in negotiations with the infrastructure group for several months, it was first reported by Sky News. It’s [...]
How governance can work for business December 4, 2016 Three years on from the Co-op Bank scandal the group has reformed, writes Allan Leighton Business is in danger of ignoring the public mood. Amid all the recent debate about workers on boards, executive pay and the politics of profit, one truth stands out – trust in business is not where it should be. Many [...]
Four Seasons facing rising bills as hedge funds jostle for control December 4, 2016 Unsustainable debt and a looming £26m interest payment have thrown the future of care home operator Four Seasons in to doubt. Last week it was revealed Four Seasons lost £27.4m in the three months to the end of September but must pay £52m interest on its debt every year. It currently has cash reserves of just £51.3m [...]