Fix the regulatory flaws in our fragile financial system, or risk another crisis June 12, 2018 Over the past 800 years governments have consistently had a role in financial crises – either causing them (for example, by defaulting on their debts), or by failing to control excessive borrowing and risk-taking in the private sector. The US Financial Crisis Inquiry Commission found that the main causes of the 2008 crisis were avoidable [...]
Avocado bathrooms and toilet rugs are among the most unpopular home decors June 12, 2018 We all like to think that the décor in our own home beats the rest, but it turns out that some interior designs are unanimously deplored. Professional family portraits, taxidermy and avocado bathrooms are among the worst home design crimes from the last 50 years, according to a new study from Samsung. While 44 per [...]
No more excuses, time for a proper Brexit plan June 12, 2018 Parliament is geared up for a legislative marathon over the next two days, as the government battles to pass its EU (Withdrawal) Bill with as few of the 15 House of Lords amendments as possible. But as Theresa May pressures and cajoles her rebellious backbenchers, and as Labour contorts itself in an attempt to play [...]
SoftBank’s Vision Fund leads $250m series D investment into data storage tech firm Cohesity June 11, 2018 Californian data storage firm Cohesity has closed an oversubscribed series D round at $250m (£186.2m), led by SoftBank’s Vision Fund in its second ever enterprise investment after workspace messaging app Slack. The round also saw participation from Cisco Investments, Hewlett Packard Enterprise (HPE), Morgan Stanley Expansion Capital and Sequoia Capital. Cohesity’s chief operating officer and president [...]
Stobart chief accused of fostering ‘bullying culture’, over actions in retaliation to controversial letter June 11, 2018 Chief executive Warwick Brady has waded in on the letter which saw over 20 unnamed executives write to the board of Stobart Group, requesting the resignation of its chairman. The letter in question called for Iain Ferguson to step down ahead of the company’s annual general meeting next month, as a result of reported unhappiness [...]
Aquis gears up for £12m float on London Stock Exchange June 11, 2018 Share-trading venue Aquis Exchange is set to float on Thursday as it seeks to raise £12m following previous investment. The pan-European cash equities exchange, which is aiming to be valued at £73m with a share price at around 269p, is planning to list on the Alternative Investment Market (Aim). With the firm having already raised [...]
Prime Minister admits G7 was difficult as Trump remains at odds with allies over Russia and tariffs June 11, 2018 The G7 summit was “difficult, with some very candid discussions”, the Prime Minister has admitted, after Donald Trump left the Quebec meeting early. The US President, who also arrived late to a meeting about gender equality, posted a series of angry tweets directed at his Canadian counterpart Justin Trudeau, slamming him for being “weak” and [...]
Trump’s summit with Kim gives “unprecedented opportunity” to change North Korea’s course says US secretary of state June 11, 2018 US President Donald Trump’s planned meeting with North Korean leader Kim Jong-Un tomorrow is “an unprecedented opportunity” to reset relations with the pariah state, the US secretary of state said today. Mike Pompeo said the summit could “change the trajectory of our relationship and bring peace and prosperity” to North Korea, according to Reuters. Trump [...]
Oil prices slide to less than $76 per barrel as US and Russia boost production ahead of Opec meeting June 11, 2018 Oil prices dwindled on Monday with Brent crude dropping down to less than $76 (£57), around one per cent down, as a result of Russia increasing production and the US stepping up its drilling activity. Despite the Organisation of the Petroleum Exporting Countries (Opec) deciding to resupply the market when members nations meet on 22 [...]
Brussels responds to Theresa May’s Brexit proposal: ‘Is this a backstop?’ June 11, 2018 Brussels has issued its first take on the Brexit backstop proposals put forward by the UK last week, and it doesn’t look good. Although the EU Commission insists the update published today outlines “issues for further discussion with our UK counterparts”, the wording clearly seems to back Michel Barnier’s original proposal – which was rejected [...]