James Brokenshire has no time to waste in fixing the capital’s housing crisis May 2, 2018 As James Brokenshire takes up his new role as housing secretary, his top priority must be to fix the capital’s broken housing market. It is no exaggeration to say that London is in the midst of a housing crisis. Demand far outstrips supply; while we have built 200,000 new homes over the last decade, London’s [...]
The anti-Brexit House of Lords has just signed its own death warrant May 2, 2018 The House of Lords has crossed the Rubicon. In voting on Monday to send back the government’s European Union (Withdrawal) Bill with an amendment that weakens its hand in negotiating the terms of Brexit, it has set itself against the British people and their expressed will. For an unelected assembly that is meant to be [...]
No decent economist will be surprised to see renewables push up electricity prices May 2, 2018 Energy prices are once again in the news. British Gas is putting up the price of its dual fuel tariff by an average of 5.5 per cent at the end of this month. EDF, whose standard tariff is already one of the most expensive, will raise it by a further 1.4 per cent next month. [...]
Apple defies critics by meeting expectations on iPhone sales in first quarter results May 1, 2018 Apple allayed industry fears that it would be hit by declining sales of its flagship product by selling 52.2m iPhones in the first quarter. The figures Shares in the tech giant were up by about four per cent in after-hours trading as it posted a 16 per cent climb in revenue to $61.1bn (£44.8bn). Sales [...]
Government backs down on amendment to Sanctions and Money Laundering bill to make offshore tax havens more transparent May 1, 2018 The government has agreed to force Britain’s overseas territories to be more transparent, after more than 20 Tory rebels threatened to embarrass Theresa May in another parliamentary defeat. A cross-party amendment to the Sanctions and Money Laundering Bill – proposed by veteran Labour MP Margaret Hodge, but backed by numerous high-profile Tories including Tom Tugendhat, [...]
Wembley sale: Questions over the FA’s valuation and need to sell, says its former commercial director May 1, 2018 As has been widely reported, the Football Association has received an offer from the American billionaire Shahid Khan to buy Wembley Stadium. Khan already owns an NFL franchise and Fulham FC, and is no stranger to football or London and the UK. Permission for the FA executive to develop the proposal has been granted by [...]
Brexit: David Davis warns of “tussle” to include financial services in future trade deal with EU May 1, 2018 David Davis has warned that financial services will be a key battle ground in negotiations for the future trading relationship with the EU. The Brexit secretary this afternoon told the Lords’ EU Committee he expected “something of a tussle over financial services, over the extent of the financial services chapter”. There would be many areas, [...]
MP claims Legatum founder Christopher Chandler was named “an object of interest” in France over links to Russia May 1, 2018 An MP has used parliamentary privilege to claim that Legatum Institute founder Christopher Chandler has been named as a person of interest by the French authorities, because of links to Russia. Conservative Bob Seely told MPs that he and some others had been shown documents relating to national security and money laundering, from Monaco’s security [...]
The UK’s cryptocurrency trade body is urging MPs to regulate the industry | City A.M. May 1, 2018 British cryptocurrency platforms are calling on a group of influential MPs today to support proposals to regulate the industry in the UK. CryptoUK, a self-regulated trade body of seven exchanges, is working to make the cryptocurrency sector more legitimate and transparent. The group set out the plans as part of a written response to the [...]
Grind coffee bars and restaurants founder David Abrahamovitch talks Instagram, airports, and the City May 1, 2018 Since the company’s inception in 2011, Grind coffee shops and restaurants have captured the imagination of London’s millennials as a place to eat, party and Instagram. Now the brand is set to expand beyond the capital in a deal with travel food operator SSP. City A.M. caught up with Grind’s founder and chief executive David [...]