Forget Facebook – it’s the tech-illiterate politicians we should be worrying about April 13, 2018 Watching Mark Zuckerberg testify in front of senators and members of Congress about Cambridge Analytica and wider concerns around Facebook’s omnipotence was painful viewing at times. Yes, Zuckerberg’s uncomfortable delivery and stilted prose indicated that the portrayal of a charismatic maverick in The Social Network film was perhaps a further cry from reality than first [...]
Brexit and Beast from the East blamed for poor jobs figures April 13, 2018 Bad weather and the continuing impact of Brexit have been blamed for poor job figures in March Statistics from recruiters Morgan McKinley show that the number of jobs available was down 14 per cent month-on-month and 37 per cent year-on-year. The number of job seekers was down 22 per cent month-on-month and 44 per cent [...]
UK agrees to join action on Syria with US and France after Cabinet gives PM backing April 13, 2018 The UK government last night agreed to back the US and France and “keep working closely together on the international response” to last weekend’s deadly chemical attack in the Syrian town of Douma. Late last night Prime Minister Theresa May spoke to US President Donald Trump after her senior ministers gave her their backing to [...]
Melrose takeover of GKN: “Nothing patriotic” about blocking deal, MPs are warned April 13, 2018 Politicians have been told not to meddle in Melrose’s controversial takeover of British engineering giant GKN. Shareholders, not MPs, should decide how to run their businesses, the Institute of Economic Affairs (IEA) urged in a report published today. Industrial turnaround specialist Melrose appeared to have prevailed at the end of March, securing the backing of [...]
SpaceX’s value on course to rocket to $24bn as fundraising targets $500m | City A.M. April 12, 2018 Elon Musk’s SpaceX is plotting a new round of funding which could see its value skyrocket to almost $24bn (£16.9bn). The company hopes to raise $507m in a move that would make it the third highest-valued private company in the US. Filings obtained by private analytics firm Lagniappe Labs showed that the company had authorised [...]
Justin Trudeau: UK can have “even better” trade deal with Canada than Ceta after Brexit April 12, 2018 The UK and Canada can negotiate a “more impactful” trade relationship as soon as Brexit goes ahead, Just Trudeau has said. The Canadian Prime Minister said that negotiations between the two countries can begin “the day after” Britain officially leaves the European Union in less than a year. Read more: UK must not neglect the [...]
Biggest quarterly fall in London house prices for nine years recorded April 12, 2018 House prices in London declined at their sharpest rate for nine years during the first part of 2018, new data shows. Prices fell by 3.2 per cent in the first three months of the year according to the Halifax House Price Index. The average London house price was £430,759, its lowest since the end of [...]
UK-based Game Digital share price tumbles as New York hedge fund Elliott Management drops retailer | City A.M. April 12, 2018 American hedge fund Elliott Management has sold its shares in UK-based gaming retailer Game Digital. The retailer made the announcement today as it confirmed that its non-executive director, James Shinehouse, who represented the hedge fund on Game Digital’s board, would also be stepping down. Following the announcement, shares of the gaming retailer dropped 13 per [...]
Saga share price rises on better-than-expected results April 12, 2018 Insurance and travel company Saga has seen its share price rise after delivering a better-than-expected set of results this morning. The over 50s holiday and insurance company had issued a profit warning in December after the collapse of Monarch Airlines which had affected its tour operations business. In its preliminary results for the year to [...]
European Central Bank (ECB) bosses express fears over global trade war April 12, 2018 Policymakers at the European Central Bank (ECB) expressed deep concern about the possibility of an all-out trade war with the US during a meeting last month, according to minutes released today. ECB leaders also elected to continue the bank’s bond buying programme in order to strengthen inflation and stimulate demand. Minutes from the governing council [...]