Morgan Stanley reports record revenues after surge in trading July 16, 2020 Morgan Stanley today revealed quarterly earnings had beaten analysts’ expectations, even as coronavirus ravaged the US economy. The Wall Street bank’s record profit was boosted by strong trading revenues which jumped nearly 70 per cent. The figures: Morgan Stanley reported net revenues of $13.4bn (£10.64bn) for the second quarter, compared with $10.2bn (£8.1bn) a year [...]
Privacy Shield ban ‘hurts’ UK’s chances of post-Brexit data deal July 16, 2020 Industry figures have warned that a decision today to ban Privacy Shield, a data-sharing deal between the EU and the US, will compromise the UK’s hopes of securing its own data-sharing agreement at the end of the Brexit transition period. Judges at the European Court of Justice (ECJ) today banned the Privacy Shield data-sharing agreement [...]
Kremlin-backed Cozy Bear hackers target UK coronavirus vaccine secrets July 16, 2020 Kremlin-linked cyber criminals have been allegedly hacking universities and organisations developing coronavirus vaccines in an attempt to steal sensitive information, according to the UK’s cyber security body. The hacking group known as APT29 – also known as Cozy Bear and The Dukes – has allegedly been trying to steal information across the globe from vaccine [...]
Shamima Begum wins right to return to the UK July 16, 2020 Shamima Begum has won the right to return to the UK to challenge the Home Office’s decision to revoke her British citizenship in person. Begum, who left East London in 2015 to join the Islamic State (Isis) in Syria, won an appeal against a ruling by the Special Immigration Appeals Commission (Siac) earlier this year that [...]
Russians tried to swing UK election with US trade papers used by Corbyn July 16, 2020 Russian actors attempted to interfere in the 2019 UK Election by disseminating a leaked confidential document later released by the Labour party, according to foreign secretary Dominic Raab. Raab released a statement today, confirming it is “almost certain that Russian actors sought to interfere in the 2019 general election through the online amplification” of confidential [...]
BMW inks €2bn battery deal with Sweden’s Northvolt July 16, 2020 Auto giant BMW has signed a €2bn(£1.8bn) deal with Swedish energy firm Northvolt to provide battery cells to power its electric vehicles. The Scandinavian company, which was founded by two former Tesla executives, will make the cells using only renewable energy at a new facility in the north of Sweden. In a statement, BMW said [...]
European Central Bank holds interest rates as it eyes recovery July 16, 2020 The European Central Bank (ECB) has left interest rates on hold at record lows and kept its huge bond-buying programme at its current size as it waits to see whether a Eurozone economic recovery takes hold. The ECB left its key deposit rate at minus 0.5 per cent. It will continue its purchases under the [...]
Pizza Express draws up plans to close 75 restaurants July 16, 2020 Pizza Express is drawing up plans to close up to 75 restaurants around the UK as the pizza chain undergoes a wide-scale financial restructure as a result of the coronavirus crisis. The company is mulling the closure of “around 75” of its 470 UK outlets through a company voluntary arrangement (CVA), Pizza Express said today. [...]
Guardian to close weekend supplements as coronavirus batters newspaper July 16, 2020 The Guardian is planning to close its weekend supplements, after the firm yesterday announced 180 job cuts as the Covid-19 pandemic continues to hammer the newspaper’s finances. The Guardian is considering closing its Weekend, The Guide, Review and Travel print supplements, with further shake-ups to the newspaper’s size also expected. The newspaper is also mulling [...]
BoE governor calls on people to return to the office July 16, 2020 The Bank of England governor has said deserted town and city centres will hold back economic recovery. Boris Johnson is preparing to tell the nation on Friday that it is time to return to the office after Andrew Bailey said people’s “fear” of commuting was “holding back the recovery”. The Prime Minister is expected to [...]