Get Brexit done, yes — but now onto the urgent domestic agenda December 17, 2019 It may have seemed like a lifetime, but the six-week election campaign period has finally drawn to a close. And at the end of January, the UK is set to leave the EU — at the fourth attempt. With a thumping majority, the Prime Minister should face little challenge in getting his withdrawal agreement through [...]
Boris Johnson to amend Brexit bill to rip out no-deal concessions December 17, 2019 Boris Johnson will bring his Brexit bill before a new intake of MPs this week without the concessions he made before the election, City A.M. understands. The Withdrawal Agreement Bill – the key legislation that will pave the way for the UK to leave the European Union on 31 January – is expected to come [...]
Yacht the hell? More 100-metre superyachts being built than ever before December 17, 2019 The number of 100-metre-plus superyachts currently being built is at its highest in history, with 21 of the mammoth vessels under construction. According to research by Boat International, the total number of superyachts being built – meaning boats over 24 metres long – is 807, with 21 in excess of 100m. Read more: Smooth sailing [...]
Lawyer attacked designer in seat row at Royal Opera House December 16, 2019 A hedge fund lawyer was convicted of assault today after punching a fashion designer in a bust-up at the Royal Opera House. During a performance of Wagner, Matthew Feargrieve struck Ulrich Engler at least once in a dispute over a seat, City of London Magistrates’ Court heard. Read more: Two women who quit City jobs [...]
Nicky Morgan stays as Culture Secretary as Boris kicks off mini-reshuffle December 16, 2019 Boris Johnson has named new ministers as he looks to fill the roles vacated by the election – but has also re-appointed Nicky Morgan as culture secretary despite her standing down as an MP. Morgan will become a peer in the House of Lords but retain her brief overseeing culture, media, sport and digital. In [...]
Tensions mount in German coalition as SPD eyes Huawei ban December 16, 2019 German Chancellor Angela Merkel’s coalition government could be plunged into further conflict tomorrow as the Social Democrats (SPD) vote on a proposal to block Huawei from the country’s 5G network. The government has announced plans to toughen up scrutiny of telecoms suppliers, but has stopped short of excluding any country or company. Read more: Telefonica [...]
BoE: UK lenders can withstand disastrous recession December 16, 2019 The UK’s biggest lenders are strong enough to withstand a financial earthquake stronger than the one that rocked the City in 2008, the Bank of England’s annual stress test has found. Britain’s seven biggest banks could keep lending even if UK national income slumped 4.7 per cent, unemployment surged to 9.2 per cent, and world [...]
UK watchdogs propose major fund redemption changes December 16, 2019 The UK’s financial watchdogs have said funds with hard-to-sell assets should ensure investors cannot withdraw their money at very short notice or should offer a lower price for redemptions. The proposal came as part of a review into the sector following the failure of the flagship fund run by the once-lauded investor Neil Woodford, which [...]
Boris Johnson and Dominic Cummings eye Whitehall overhaul December 16, 2019 A newly emboldened Prime Minister is expected to be planning a major shake-up of Whitehall, overturning many of the reforms brought in by Theresa May and cutting back on the number of government departments. Boris Johnson is understood to be looking at scrapping the Department for International Development (DfID), long seen by the Tory right [...]
TfL and Sadiq Khan to write to government in funding bid December 16, 2019 Sadiq Khan and Transport for London (TfL) will write to the new government in a bid to secure funding for several big ticket transport projects. TfL’s newly released five-year business plan said the government’s 2019 spending round statement had not provided long-term funding certainty past 2021. Read more: Crossrail delay until 2021 may cost London [...]