Italy could face €3bn fine over high levels of public debt May 28, 2019 The European Union could slap Italy with a €3bn (£2.7bn) fine for breaking the bloc’s rules on public debt, the country’s deputy prime minister said today. Read more: Italy escapes recession but still lags behind rest of Europe Matteo Salvini said he expected a fine to soon arrive in a letter from the EU over [...]
Airtel Africa planning to raise $1bn in London listing May 28, 2019 Africa’s second-largest mobile operator Airtel Africa today said it is considering a London listing to cut its debt. The telecoms group, which is owned by Bharti Airtel of India, could raise up to $1bn (£790m), Reuters reported, in a float that could value the business at around $5bn. The company said today that it was targeting [...]
London takes second place in Schroders Global Cities 30 index despite Brexit uncertainty May 28, 2019 | City Talk London has overtaken Hong Kong to be ranked second in the latest Schroders Global Cities 30 index, despite economic and political uncertainty in the UK. The ranking reinforces London’s position as a significant contributor of the UK economy and highlights the UK capital’s attraction as a location for real asset investing. London remains the highest-positioned [...]
UK mortgage approvals hit two-year high following Brexit extension May 28, 2019 The number of mortgage approvals for house purchases in the UK reached a two-year high in April, a survey showed today, suggesting the country’s housing market may be recovering from a recent slowdown. Read more: Mortgage approvals fall as lending to businesses also drops UK banks approved 42,989 mortgages in April, the highest figure since [...]
Jack Ma’s Alibaba chases ‘$20bn Hong Kong float’ May 28, 2019 Alibaba is seeking to raise up to $20bn (£15.8bn) in a Hong Kong float, it is reported. Read more: DEBATE: Does Jack Ma deserve criticism for backing the ‘996’ working week? The listing would be its second after a 2014 $25bn initial public offering (IPO) on the New York Stock Exchange. The online retail and cloud [...]
Norwegian fund KLP bans investments in alcohol and gambling May 28, 2019 Norway’s largest pension fund has pledged to ban investments in alcohol and gambling stocks today as it ramps up efforts to divest from 'vice' stocks. KLP, which controls roughly $80bn (£63bn) in assets under management, is severing its ties with casino groups, brewers and cigarette companies in its latest sustainability drive. Read more: M&G Investments [...]
Farewell to Theresa May, the most ineffectual Prime Minister in modern history May 28, 2019 When Theresa May departs from Number 10 for the final time, her portrait will be added to the collection which snakes down the main staircase. It is the ritualised ending for all Prime Ministers, good, bad or indifferent. It will be hard for her to walk down those stairs without thinking of her legacy, and [...]
As Brexit rages, the European project unravels before our eyes May 28, 2019 While the London foreign policy commentariat obsesses over the pathetic soap opera that is Brexit, it almost entirely misses the obvious and strategically vital point next door: the European project is in irretrievable decline, becoming increasingly peripheral to any serious global geopolitical discussion. The just-concluded European elections, which have underlined the rise of populism and [...]
Sluggish economic growth to continue as demand for lending falls May 28, 2019 The UK economy’s sluggish growth shows no signs of letting up, with all three major lending classes set to grow less than two per cent this year, new figures have revealed. Despite an uptick in real incomes, demand for consumer credit is forecast to grow just 1.6 per cent this year and two per cent [...]
Britain smashes coal-free power record with 10-day run May 27, 2019 Britain smashed its record for coal-free power generation over the weekend, punching through ten days without burning the fuel for the first time since 1882 this afternoon. Coal-fired power stations have laid dormant since the afternoon of 17 May, as wind, solar, nuclear and gas generation prop up the grid. Read more: Britain goes a [...]