PMQS: Corbyn raises Darius Guppy call as he grills Johnson over Jamaican deportees February 12, 2020 Jeremy Corbyn provoked gasps of disbelief in the Commons today, as he appeared to compare the Prime Minister to one of the criminals being deported to Jamaica. Speaking during his weekly clash with Boris Johnson, the outgoing Labour leader raised the case of a young black boy who came to the UK aged five and [...]
Starmer pledges to take on top earners as part of 10-point Labour leadership bid February 12, 2020 Labour leadership frontrunner Keir Starmer has pledged to take on the UK’s top earners, as part of a 10-point plan to win over the party membership. Starmer, who is shaking off accusations of centrism from some quarters within the party, this morning said an increase in income tax for people earning over £80,000 was one [...]
Heineken predicts 2020 profits will fizz February 12, 2020 Dutch lager giant Heineken expects lower barley and aluminium prices to boost 2020 profits, it said today. The second largest brewer in the world, whose product is Europe’s top selling lager, also expects higher volumes and prices to boost revenues this year. This is in addition to a customer shift towards more expensive drinks. Heineken’s [...]
DRI Healthcare plans $350m London listing February 12, 2020 Healthcare royalty investment company DRI Healthcare said today it was planning to raise up to $350m (£269m) in a proposed London initial public offering (IPO). The company said it was looking to list on the main market of the London Stock Exchange next month. It said it would use the proceeds from the float to [...]
Brexit: UK ‘optimistic’ on EU green light for derivatives trading February 12, 2020 The UK is “cautiously optimistic” it will get the EU’s permission for the City’s clearing houses to continue to process trillions of pounds of derivatives for EU customers after Brexit, Bank of England deputy governor Sam Woods said today. The London Stock Exchange’s LCH unit holds positions worth £57 trillion on behalf of clients in [...]
Varadkar signals defeat as Sinn Fein moves to form coalition February 12, 2020 Leo Varadkar has signalled his willingness to step down as Irish Taoiseach and go into opposition, as left-wing nationalists Sinn Féin move to form a coalition government following an inconclusive election result at the weekend. Sinn Féin leader Mary Lou McDonald, whose party won the most votes on Saturday, securing 37 seats, said on Monday [...]
Business groups blast new Ofcom powers to police social media February 12, 2020 Business groups have hit out at Nicky Morgan’s plans to give Ofcom an expanded role in regulating the internet, calling the plan “unrealistic” and saying it would create “uncertainty”. The culture secretary announced that the broadcast regulator would be beefed up to tackle social media firms over “online harms”. Ofcom’s new role, first mooted in [...]
Angry Birds maker Rovio sees profit collapse in final quarter February 12, 2020 Rovio, the games firm behind Angry Birds saw quarterly profit plummet 96 per cent after its new 5G platform Hatch failed to take flight. Rovio, which saw its shares fall 15 per cent this morning, said that the roll out of 5G networks had been slower than expected and had had a knock-on effect on [...]
Nissan to file £70m lawsuit against fugitive ex-chief Carlos Ghosn February 12, 2020 Nissan wants 10bn yen (£70m) in damages from its former boss Carlos Ghosn in relation to his alleged financial misconduct, Reuters has reported. The civil lawsuit filed to seek the sum follows Ghosn’s dramatic escape from Japan to Lebanon last December. The allegations the former Nissan chair faces, all of which he denies, include understating [...]
Softbank profit plunges 99 per cent on heavy Vision Fund losses February 12, 2020 Softbank’s quarterly profit has been almost entirely wiped out after heavy losses from its Vision Fund hit the technology investor for the second consecutive quarter. The Japanese conglomerate’s operating profit from October to December plummeted 99 per cent to just ¥2.59bn (£18.2m) after its Vision Fund and a related vehicle recorded a $2bn loss. Softbank [...]