Business secretary Greg Clark has hinted at support for future government interventions by welcoming freedom from EU state aid rules October 2, 2016 Business and energy secretary Greg Clark has hinted at the prospect of fresh British interventionism by welcoming freedom from EU state aid rules. Clark is helming the newly created department of business, energy and industrial strategy, and its creation has led some to question whether Theresa May is set to take a more active approach [...]
No delays on Brexit, warns Prime Minister Theresa May October 2, 2016 Theresa May has vowed that there can be no delays on the UK’s departure from the European Union, blasting efforts to secure parliamentary oversight for the process as “undemocratic”. May accused campaigners seeking a vote in parliament of trying to “kill” the UK’s referendum verdict. Speaking at the Conservative party conference in Birmingham, May also [...]
BAE Systems gets £1.3bn to start building new nuclear submarines October 2, 2016 BAE Systems has been given a further £1.3bn by the Ministry of Defence (MoD) to start building Britain’s next generation of nuclear submarines. The funding will cover initial manufacturing work that is due to commence next week. It will also be used to develop the design of the submarines, purchase materials and invest in BAE’s yard [...]
It’s official: Article 50 will be triggered before end of March 2017 October 2, 2016 Article 50, the official signal that Britain will leave the EU, will be invoked by the end of March 2017, Prime Minister Theresa May has revealed. It will trigger the start of negotiations with Europe on matters such as trade and free movement of people and will give the country two years to agree terms [...]
Google to respond to EU antitrust charges within weeks as fine looms October 2, 2016 A long running battle between the EU and Google over anti-competitive behaviour will escalate this month as the search giant is expected to formally respond to the charges in the latest clash between a US tech giant and Brussels. Google is scheduled to make an official response to charges of being anti-competitive, including its dominance on the Android operating system, in [...]
Gatwick signs up Bechtel as new partner in runway bid October 2, 2016 Gatwick Airport has announced a strategic partnership with construction giant Bechtel to deliver a second runway by 2025 – should it win over the government with its expansion plans. The airport hopes this confirmation will give it the edge over Heathrow, ahead of the long-awaited decision on which airport the government will back. Heathrow won [...]
Hedge fund Och-Ziff agrees settlement in African bribery case October 2, 2016 US hedge fund Och-Ziff agreed to fork over $412m (£317.5m) late last week to settle a case that it bribed top officials in a variety of African countries. The US authorities, including the Securities and Exchange Commission, contested that Och-Ziff's internal controls were not adequate to detect and prevent a bribery scheme being carried out and concealed by former employees. "We have learned [...]
Fresh rumours emerge about bailout-ability of Deutsche Bank October 2, 2016 Fresh speculation over whether the German government could feasibly offer aid to Deutsche Bank has emerged in the country's media over the weekend. The bank's shares plummeted last week after reports emerged suggesting German Chancellor Angela Merkel would not be prepared to provide state assistence, even as the lender faced a potential fine of $14bn [...]