Kwasi Kwarteng: Boris Johnson’s ‘clarity of message’ on Brexit behind Tory poll bounce October 1, 2019 Boris Johnson’s “clarity of message” has helped buoy the Tories in polls, business minister Kwasi Kwarteng has said, as he hit out at plans from opposition MPs to form an alternative government. Kwarteng, who served as under secretary of state for the Department for Exiting the EU under Theresa May, told a fringe event at [...]
Ex-London mayor Boris Johnson blames successor Sadiq Khan for fuelling Arcuri claims October 1, 2019 Boris Johnson has blamed London mayor Sadiq Khan for fuelling allegations about his relationship with businesswoman Jennifer Arcuri. The Prime Minister is facing claims that he offered Arcuri favourable treatment while he was mayor of London, allowing her to accompany him on high-profile trade missions and receive £126,000 in public money – privileges she allegedly [...]
Sales growth slows at Greggs as it warns of increased Brexit costs October 1, 2019 Sales growth at bakery chain Greggs slowed in the third quarter as it warned of tough comparatives and increased input costs because of Brexit. Greggs today posted a sales increase of 12.4 per cent for the 13 weeks to 28 September. Read more: Greggs upgrades outlook as sales rise on vegan sausage roll success Like-for-like [...]
Credit Suisse operating chief resigns after botched spying investigation October 1, 2019 A top executive at Credit Suisse has resigned today following a botched spying scandal that has rocked the world of Swiss banking. Chief operating officer Pierre-Olivier Bouee has stepped down after an internal probe found that he alone initiated surveillance of the bank’s former head of wealth management. Read more: Activists circling Metro Bank Tidjane [...]
Competition watchdog ploughs ahead with investigation into JD Sports’ Footasylum takeover October 1, 2019 Britain’s competition watchdog has decided to plough ahead with an investigation into JD Sports’ £90m takeover of Footasylum. The Competition and Markets Authority (CMA) has referred the deal to an in-depth probe amid concerns that it could potentially result in higher prices and less competition. Read more: CMA warns that JD Sports deal with Footasylum [...]
Tax cuts, not just increased costs, should be on Chancellor’s agenda September 30, 2019 Sajid Javid acknowledges that he is in no small part a product of the City’s big bang. Faced with closed shops in some of the more traditional banks, this British-Asian outsider worked his way up the chain first in an American bank and then in a German one. Many in the Square Mile reckoned they’d [...]
Wework confirms it will withdraw IPO filing amid investor apathy September 30, 2019 Wework today confirmed it will withdraw its initial public offering (IPO) filing after it was forced to push back plans for its troubled float. Read more: Wework sells former CEO Adam Neumann’s $60m private jet The coworking firm last week announced that Adam Neumann would step down as chief executive following a frosty reception from [...]
Whitbread share price tumbles on Barclays downgrade September 30, 2019 Whitbread suffered a fall in its share price this morning after Barclays downgraded the UK’s biggest hospitality company. The Premier Inn owner’s share price has tumbled five per cent during trading today after its rating was cut by Barclays, which moved its recommendation from ‘Overweight’ to ‘Equal Weight’. Read more: Markets mixed on US-China trade [...]
Days of soaring London house prices ‘are long gone’, says UBS September 30, 2019 The capital’s real estate market has moved out of bubble-risk territory for the first time in four years amid cooling London house prices, according to a new UBS report. An end to London’s housing boom has pushed the capital down a UBS index that ranks the cities with the biggest real estate bubbles in the [...]