No special Brexit deal for the City of London or passporting for financial firms, says EU chief negotiator Michel Barnier December 19, 2017 The EU’s chief negotiator has stamped out hopes of a special deal for the City after Brexit. Michel Barnier poured cold water on the idea that a bespoke deal could be agreed for the financial services sector. “There is no place [for financial services]. There is not a single trade agreement that is open to [...]
Public Register: Investors have published their FTSE naughty list of companies with the angriest shareholders December 19, 2017 This year has been punctuated by shareholder rebellions in businesses from WPP to Persimmon to the boardroom battle currently raging over the ousting of London Stock Exchange boss Xavier Rolet. But now shareholder anger at FTSE bosses’ pay packets has been dragged into the spotlight again, after the Investment Association launched its “naughty list” of [...]
No, scrapping net neutrality laws won’t kill the internet December 19, 2017 The decision by the US Federal Communication Commission (FCC) to remove so-called “net neutrality” laws last week produced a flurry of outrage. The American media company Netflix was most vociferous, declaring on Twitter: “we’re disappointed in the decision to gut #NetNeutrality protections that ushered in an unprecedented era of innovation, creativity, and civic engagement.” Such [...]
The year in sterling (GBPUSD): Theresa May’s election shocks, Mark Carney’s rising rates, and Brexit, Brexit, Brexit December 19, 2017 It was a brave trader betting on sterling at the start of the year. Economists were fearful for the British economy as 2016’s dramatic fall in the pound fed through to surging inflation; Theresa May was still a novice as Prime Minister; and the Brexit process had not yet truly begun. Brexit has – as [...]
Tony Martin retracts comments over Chris Froome and adverse drugs test December 18, 2017 Four-time world champion Tony Martin has backtracked on comments made about supposed preferential treatment shown towards Britain’s Chris Froome by governing body the UCI following his adverse drugs test. Froome was found to have double the legal dosage of asthma drug Salbutamol in his urine when tested at the Vuelta a Espana in September, a [...]
Apple share price climbs to an all-time high (NASDAQ:AAPL) December 18, 2017 Apple’s share price rose to an all-time high today amid expectations that Donald Trump’s long-awaited tax plan would soon be passed. The tech giant’s shares reached as high as $177.17 as broader Wall Street stocks jumped to fresh highs thanks to the so-called Santa rally, with the Nasdaq crossing the 7,000 mark for the first [...]
Prime Minister Theresa May pushes for access to EU market during Brexit transition period December 18, 2017 The Prime Minister has called for unchanged access to EU markets during the Brexit transition period. Speaking in parliament today, Theresa May said there was a “shared desire” between the EU and UK to make “rapid progress” on an implementation period. During the transition, May said the UK would be out of the Single Market [...]
Activist investor Sir Chris Hohn to skip crunch London Stock Exchange shareholder meeting he requested December 18, 2017 Activist investor Sir Chris Hohn will not attend a London Stock Exchange (LSE) shareholder vote tomorrow which he himself requested, according to reports. Hohn requested the meeting last month to remove chairman Donald Brydon, after accusing him of forcing out former chief executive Xavier Rolet, but will not attend in person, Reuters reported. Investors meet [...]
The Ford Mustang CS800 is modified by London-based Clive Sutton into a tyre-smokin’ super coupe. Tim Pitt takes the reins December 18, 2017 Eight hundred and twenty five horsepower. That’s more than eight typical Ford Fiestas, a McLaren 720S, Ferrari 812 Superfast or Lamborghini Aventador S. More than anything this side of a seven-figure hypercar, in fact. Hell, it’s even more than a 62-seat London Routemaster bus. Lucky the winter roads aren’t damp, then. Oh. Meet the Ford [...]
Virgin billionaire Richard Branson is taking up Hyperloop One chairman role December 18, 2017 Virgin entrepreneur Richard Branson is taking up a top leadership position at Virgin Hyperloop One, the transportation startup he recently invested in and rebranded under his empire’s name. The billionaire businessman will become chairman at the US company which hopes to build high speed transport based on a technology concept created by Elon Musk around [...]