Theresa May has blessed the Arm acquisition, but fears are growing the new PM will be too interventionist on M&A July 18, 2016 Theresa May's new government gave its whole-hearted backing to the sale of Arm yesterday, but suggested it could block future deals if they are not considered to be “in the national interest”. May and her chancellor Philip Hammond hailed the £24bn purchase by Japanese giant Softbank, with Downing Street describing the deal as “a vote of confidence [...]
Former chancellor George Osborne tries to secure his legacy as anything but Brexit July 18, 2016 George Osborne has issued a robust defence of his time as chancellor and said he believes the UK's best days lie ahead in a speech littered with attempts to define his own legacy. In the annual Margaret Thatcher memorial lecture held by the Centre for Policy Studies, Osborne placed his achievements such as protecting the UK's commitment to [...]
Ex-Tory peer Lord Hanningfield cleared of false expenses charges, after judge deems it a matter for parliament July 18, 2016 Former Tory peer Lord Hanningfield was acquitted of false accounting charges today, after a judge decided it was a matter for parliament. The 75-year-old Hanningfield, whose given name is Paul White, had been accused of falsely submitting expense claims for his daily allowance from the House of Lords. Hanningfield had been due to stand trial at [...]
Prime Minister Theresa May to meet Angela Merkel and Francois Hollande on first overseas trip of premiership July 18, 2016 Prime Minister Theresa May is to meet with her German and French counterparts when she makes the first overseas trip of her premiership. Later this week May will fly to Berlin to meet with German Chancellor Angela Merkel, before heading to Paris to meet with French President Francois Hollande. The visits come after the tragic [...]
New Prime Minister Theresa May says all foreign takeover bids will be assessed to determine whether they’re in the national interest July 18, 2016 Prime Minister Theresa May has said foreign takeover bids for British firms must be assessed to determine whether they're in the national interest. Her comments come hours after Cambridge-based tech firm Arm Holdings revealed it had received a £24.3bn offer from Japan's SoftBank – sending the British chipmaker's stock up by over 45 per cent. [...]
John McDonnell outlines Labour’s economic response to Brexit July 18, 2016 The Labour party will set up a National Investment Bank (NIB) and a network of regional banks to mobilise the economy, shadow chancellor John McDonnell has said. Outlining Labour's economic response to the Brexit vote, McDonnell said that the Conservatives had left a legacy of failure due to unnecessary austerity, and pledged to uphold workers' [...]
Defence secretary Michael Fallon: Trident renewal is a “very cheap insurance policy” July 18, 2016 The world is a dangerous place and as such renewing Trident is a cost-effective insurance policy, defence secretary Michael Fallon has said. Ahead of a House of Commons vote on the issue later today, Fallon said it is not possible to foresee with any great accuracy the threats that might be faced in the future, [...]
Foreign secretary Boris Johnson says UK will not abandon its leading role in Europe ahead of meetings July 18, 2016 The UK will not "abandon its leading role" in Europe in the wake of Brexit, foreign secretary Boris Johnson has said. Arriving in Brussels for a meeting with his European counterparts, Johnson said the UK will not leave its friends in the lurch, adding there needs to be a co-ordinated response to terrorism in the wake [...]
City is “still slightly stunned” by “really bad news” of Brexit, says chief exec July 18, 2016 Brexit is “just really bad news”, the chief executive of Old Mutual Global Investors (OMGI) has said. Richard Buxton also denied there was any “doom-mongering” in the run-up to the vote – “because it is absolutely going to be horrible”. Read more: Old Mutual becomes the next company to wave away Brexit Defending Bank of [...]
Labour will need more than a change of leader July 18, 2016 Attention politics junkies: do you feel robbed of a drawn-out party leadership election? Before Andrea Leadsom dropped out of the Tory race we were all set for a nine-week campaign. And then before it had even started, there was just one candidate remaining. If you’re wondering what political news to feast on this summer instead [...]