Airbnb faces legal action over EU consumer rights | City A.M. July 16, 2018 Consumer authorities and the European Commission today challenged short-term rentals marketplace Airbnb to comply with EU consumer law by August, or face legal action. According to the Commission, Airbnb’s terms and conditions and transparency in how it presents its prices do not comply with a number of European Union consumer laws. Instead, the company should [...]
Nicky Morgan: Free trade benefits will not outweigh Brexit hit | City A.M. July 16, 2018 Treasury Committee chair Nicky Morgan has written to colleagues ahead of tonight’s customs bill debate to warn that free trade deals are “unlikely to offset losses” from leaving the Single Market and customs union. Alongside SNP MP Angus MacNeill, who chairs the international trade committee, Morgan has told fellow MPs that while a deal with [...]
Putin admits he wanted President Trump to win the US election, as Trump attacks the FBI investigation into alleged Russian interference | City A.M. July 16, 2018 After a one-on-one meeting today in Helsinki, Russian President Putin admitted that he was rooting for Trump to win the 2016 US election, while both men denied any foreign interference in the election’s outcome. “I wanted Trump to win because he spoke about normalising Russian relations,” Putin said in a post-meeting press conference. He added [...]
Inflatable unicorns and flamingoes are the hit of the summer sales, according to John Lewis’ data | City A.M. July 16, 2018 It appears the heat has gone to our heads. Is there no end to the kitsch tiki bars taking over terraces up and down the nation? Will we ever tire of parrots, flamingos and pineapples? Incredibly, kitsch is in this summer and we know that because of cold, hard data. Every week, John Lewis’ best [...]
House prices in Bethnal Green: Shoreditch’s loss is Bethnal Green’s gain as professionals flee high house prices in E1 | City A.M. July 16, 2018 There was a time when Bethnal Green lived up to its rural-sounding name. It was actually a prosperous area in the 19th century, with large houses and gardens. Originally called Bethan Hall Green, the name was changed to align with local Cockney pronounciation which dropped the ‘h’. By the 19th century, Bethnal Green became one [...]
Chequers deal crumbles as Theresa May gives into ERG’s amendments on new Brexit bill, putting facilitated customs arrangement at risk | City A.M. July 16, 2018 The government has backed down on all four of the wrecking amendments put forward by Brexiter-in-chief Jacob Rees-Mogg last week, in order to avoid an embarrassing defeat in the House of Commons. Three of the amendments were relatively uncontroversial, but a fourth – tabled by former Cabinet minister Priti Patel – was widely viewed as [...]
New UK housing minister is the third in seven months | City A.M. July 16, 2018 Andy Warhol once said that in the future everyone will be famous for 15 minutes. If Warhol were alive today he might well say the same about your chances of becoming Housing Minister. The past eight years have seen seven Housing Ministers come and go through the doors of Number 2 Marsham Street, many of [...]
Paypal plugs $50m into London paytech firm PPRO | City A.M. July 16, 2018 London-based cross border e-payments tech firm PPRO today announced a $50m (£37.9m) investment round, led by Paypal. Additional participation came from Citi Ventures, and existing investor HPE Growth Capital. The company has raised just over $10m since it was founded in 2006. Already profitable with around 200 employees, PPRO hopes to use the funds to [...]
International Monetary Fund (IMF) warns of $440bn risk to global growth from Trump’s trade war | City A.M. July 16, 2018 A global trade war kicked off by the US has the potential to deal a $440bn (£330bn) blow to the global economy, according to a stark warning to US President Donald Trump from the International Monetary Fund (IMF). The influential body today predicted global growth will come in at 3.9 per cent in 2018 and [...]
World Cup 2018: Gareth Southgate and Harry Kane the biggest winners as England’s run in Russia boosts commercial appeal of key figures | City A.M. July 16, 2018 Even in defeat, there was an undeniable feel-good factor around England at the World Cup. Gareth Southgate and his team worked hard to cast aside the negativity of previous major tournaments and reach a first semi-final since 1990. And while their on-field exploits have seen them hailed as heroes, they could also lead to off-field [...]