Trump: US and UK will reach an agreement on Huawei June 4, 2019 US President Donald Trump has said his country will be able to work out any differences with the UK over Chinese tech firm Huawei. Read more: Huawei to sell undersea cable business amid trade feud with US Speaking to reporters in London during a three-day state visit to the UK, Trump denied the US would [...]
UK startups break records with $4.8bn VC funding this year June 4, 2019 UK tech startups have already broken past their half-year record for venture capital investment, reaching $4.8bn (£3.8bn) of funding across the burgeoning tech sector in just five months. It topped the previous record set in the first six months of 2017 of $4.2bn, according to data from Tech Nation and Dealroom through their new Data [...]
FCA pushes ahead with P2P lender investment cap June 4, 2019 The City watchdog will implement a cap for first time peer-to-peer (P2P) investors as it clamps down on the sector. The Financial Conduct Authority (FCA) confirmed today that it will introduce a 10 per cent investment cap. Read more: Top business leaders back UK-based P2P property lender Investors must pass a test to prove they [...]
Trump: NHS up for grabs in free trade deal June 4, 2019 Donald Trump believes the NHS should “absolutely” be up for discussion in any trade deal between the UK and the US. Read more: UK can strike ‘substantial’ trade deal with US, says Trump In a press conference as part of his state visit to the UK today, the President claimed a post-Brexit agreement could see [...]
Uber under investigation by US and foreign tax authorities June 4, 2019 Uber has revealed it is under investigation by a string of tax authorities in the US and abroad. The ride-hailing firm said in a filing today that the Internal Revenue Service (IRS) has launched a probe into its taxes for 2013 and 2014. Read more: Uber loses $1bn in first quarterly results since stock market [...]
Shares in Woodford investment trust plunge after fund suspension June 4, 2019 Shares in Neil Woodford’s investment trust plunged this morning after the former star trader was forced to suspend trading in his flagship fund as investors flocked to the exit. Woodford Patient Capital Trust shares fell more than 19 per cent to a low of 61.3p before recovering slightly to 71.54p this afternoon. Read more: Neil [...]
Metro Bank shares recover as investors approve £375m capital raise June 4, 2019 Metro Bank shares have recovered from yesterday’s slump after investors approved the challenger bank’s £375m capital raise. Shares have risen more than five per cent today to 657p, having dropped 8.5 per cent yesterday as pressure mounted on the bank over legal claims and regulatory probes. More than 92 per cent of shareholders yesterday voted [...]
James Cleverly withdraws from Tory leadership race June 4, 2019 James Cleverly has pulled out of the race to become the next Tory leader, citing a lack of support among MPs. The Brexit minister and former deputy party chairman announced he was running for the leadership at the end of last week. In a statement, Cleverly said: “Last week I announced that I intended to [...]
Eurozone inflation slips to well below ECB target June 4, 2019 Annual inflation in the Eurozone fell considerably in May, according to official statistics released today, taking it well below the European Central Bank’s (ECB) target. Read more: The euro falls as ECB chief Draghi delivers pessimistic verdict on Eurozone economy Inflation in the euro area fell to 1.2 per cent in May, a first estimate [...]
UK M&A value plunges in run up to March Brexit deadline June 4, 2019 The value of UK mergers and acquisitions plunged in the first quarter of this year as business confidence was impacted by the March Brexit deadline. The value of deals that saw foreign companies buy UK firms fell 83.7 per cent compared to the fourth quarter of last year. Read more: US and UK M&A deals [...]