Bank of England deputy governor flags concerns over ‘low for long’ interest rates October 14, 2019 Economic downturns are at risk of becoming more severe as a result of prolonged low interest rates, the deputy governor of the Bank of England has warned. The current environment of ‘low for long’ interest rates will make “demand management of the economy more difficult in downturns”, according to Jon Cunliffe. The Threadneedle Street official [...]
Extinction Rebellion targets Blackrock in protest over ‘climate criminals’ October 14, 2019 Extinction Rebellion protesters today targeted the London headquarters of Blackrock as they set their sights on the City over its role in what they describe as a looming environmental emergency. Climate activists glued themselves to the doors of the asset management giant, while others staged a mock dinner party with rolled up banknotes on their [...]
Queen’s Speech reaction: Government slammed over lack of detail and certainty October 14, 2019 The government has been criticised for failing to provide any real details in today’s Queen’s Speech that would have offered British businesses certainty. As part of the state opening of parliament, the government set out 22 bills which will form the basis of its domestic policy, with the Queen confirming a Hallowe’en Brexit was Number [...]
Bakerloo line extension to Lewisham open to public comment October 14, 2019 Plans to extend the Bakerloo line to Lewisham will go under public scrutiny today. Transport for London (TfL) began the 10-week public consultation on the extension today, welcoming comment from people on the route and the required works to implement the new route. TfL is planning to extend the Bakerloo line from Elephant and Castle [...]
London co-living developer aims to raise £650m October 14, 2019 The Collective and DTZ Investors are seeking to raise £650m to fund a co-living space boom in London. Coliv – the first institutional large-scale co-living fund – will seek to acquire or fund between six and ten developments in the capital over a ten year period. The rental model, which is aimed at millennials, sees [...]
KKR acquires majority stake in broadband provider Hyperoptic in £500m deal October 14, 2019 Global investment firm KKR has acquired a majority stake in the UK’s largest residential gigabit broadband provider. KKR bought the stake from funds managed by investment firm Newlight Partners and Mubadala, the UAE sovereign wealth fund. The companies have not announced the details of the deal, but it is understood to be worth £500m. Read [...]
Northedge snaps up UK video games firm Catalis in £90m deal October 14, 2019 Private equity group Northedge Capital has bought London-based video games company Catalis in a deal valuing the firm at £90m. Northedge has invested £46.6m in Catalis, while major backer Vespa Capital and chief executive Dominic Wheatley have reinvested their shareholdings in the company as part of the transaction. Read more: MPs call for regulation of [...]
Queen’s Speech: Government’s ‘priority’ is Hallowe’en Brexit October 14, 2019 The government has used the Queen’s Speech to reiterate its “priority” to making sure Brexit will happen on 31 October, with several of the 22 bills announced this morning setting out the UK’s post-EU future. Overarching the bulk of the state opening of parliament was the European Union Withdrawal Agreement Bill, which will ratify any [...]
Queen’s Speech live: The UK to ‘champion global free trade’ post-Brexit October 14, 2019 12.13pm That’s all from us Thanks for following our live blog this morning for the Queen’s Speech and state opening of parliament. For more coverage of the government’s new agenda, check out our coverage from political correspondent Catherine Neilan. 11.55am UK to continue to ‘play a leading role on global affairs’ The government “will ensure [...]
Fast food chain Leon launches new product range with Sainsbury’s October 14, 2019 Fast food chain Leon has launched a partnership with Sainsbury’s to sell its first range of grocery products. Customers will be able to buy a range of Leon condiments, oils and bread in more than 600 stores as the chain expands beyond its London focused restaurant portfolio. Read more: Leon reports widening losses as rising [...]