US economic growth revised downwards August 29, 2019 The US economy slowed at a faster rate in the second quarter than was initially estimated, official figures showed today, as exports and manufacturing weighed on growth. Read more: Trump: China wants a deal ‘very badly’ The country’s Department of Commerce today said the economy grew two per cent in the second quarter, down from [...]
UK strikes autumn 2019: All the dates for Tube, rail and British Airways strikes August 29, 2019 This summer has felt like the season of non-stop, stop-start UK strikes action, but unfortunately, it isn’t over, with British Airways strikes and more planned for September. Industrial action across airlines, rail and the Tube are set to continue into the autumn. City A.M. gives you the low-down on how you might be affected during [...]
Sadiq Khan vows to take on Uber ‘big boys’ in licence decision August 29, 2019 Sadiq Khan has vowed to take on the “big boys” at Uber when it comes to renewing its licence, which expires next month. The London mayor, who revoked Uber’s licence in 2017, said everyone must play by the rules if they want to operate in the capital. Read more: Uber poaches new UK boss from [...]
On the block: Goals goes up for sale in wake of £12m fraud accusations August 29, 2019 Embattled five-a-side football operator Goals has put itself up for sale this morning, following a torrid six months that has been clouded by accusations of tax fraud. Goals Soccer Centres, which is part owned by retail magnate Mike Ashley, has said today that it is inviting offers for both the business and the assets belonging [...]
Brexit latest: Govt whip resigns as Ruth Davidson confirms she’s out August 29, 2019 Government whip Lord Young has resigned following the Prime Minister’s decision to prorogue parliament in the run-up to Brexit. The move came as Ruth Davidson confirmed her decision to quit as leader of the Scottish Conservatives. Read more: Boris’ Brexit blindside – what happens next? Young this morning wrote to the Leader of the House [...]
Swedbank appoints new CEO after money-laundering allegations August 28, 2019 Swedbank has appointed a new chief executive as it attempts to rebuild confidence in the bank after it became embroiled in a money-laundering scandal. Jens Henriksson, the chief executive of insurance group Folksam, will take over from interim boss Anders Karlsson who stepped in after Birgette Bonnesen was dismissed earlier this year. Read more: Swedbank [...]
Brussels warns over PM’s ‘sinister’ Brexit move August 28, 2019 The EU has warned that Boris Johnson’s move to prorogue parliament ahead of the Brexit Halloween deadline could increase the chances of a no-deal. The Queen today agreed that parliament could be suspended, or prorogued, from mid-September to 14 October, when she will give a new Queen’s Speech. The move, which has reduced the number [...]
City reacts as no-deal Brexit risk looms and pound staggers August 28, 2019 As the political feud intensified in Westminster this afternoon over Boris Johnson’s decision to suspend parliament, over in the Square Mile investors have been reacting to the latest twist in the Brexit drama. The Prime Minister’s plans to suspend parliament sent the pound sliding, while shares in UK airlines and housebuilders – which are typically [...]
Brexit: Queen approves Boris Johnson’s prorogation request August 28, 2019 The Queen has approved the Prime Minister’s request to suspend parliament for an extended period, reducing the amount of time MPs will sit before the Brexit deadline. The Privy Council, represented by leader of the House of Commons Jacob Rees-Mogg, chief whip Mark Spencer and Baroness Evans of Bowes Park, flew to Balmoral this morning, [...]
Global stock markets dragged down as recession warning lights flash August 28, 2019 US stock markets have opened lower as a recession warning light continues to flash over the American economy. Read more: Sterling could hit 35-year low on no-deal Brexit worries They followed their European counterparts, which were also affected by news that UK Prime Minister Boris Johnson is set to suspend parliament in what critics are [...]