All Change UK: Tory and Labour MPs disband after election failure June 4, 2019 Change UK, the fledging party formed by ex-Tory and Labour MPs, has split after just four months. Eleven MPs came together in February to form what was originally known as The Independent Group, before adopting the name Change UK for the European elections. Read more: Change UK has no hope among voters The party, which [...]
Tinkoff owner TCS looks to $300m London fundraise June 4, 2019 The company behind Russian online bank Tinkoff plans to raise $300m (£237m) on London markets in a bid to fund growth. Read more: Tinkoff looking for calm after Friday sell-off Tinkoff’s loans portfolio grew 21 per cent in the first quarter, chief executive Oliver Hughes said. He promised the trend would continue in the second [...]
Softbank earns $11bn for selling some of its huge Alibaba stake June 4, 2019 Japan’s Softbank will book a pre-tax profit of $11.1bn (£8.75bn) for selling part of its stake in Chinese ecommerce giant Alibaba. The sale forms part of a three-year-old deal to sell assets in order to buy British chip designer ARM for $32bn in 2016. Read more: Uber IPO: Shares slide on second day of trading [...]
Retail Sales Hit by Biggest Slump on Record June 4, 2019 | City Talk Retail sales have taken a dramatic tumble in May, as already challenging retail conditions are set against a background of Brexit uncertainty. In total, sales for May declined by 2.7 per cent, the biggest drop since the British Retail Consortium (BRC) started the monthly survey 24 years ago. Britain’s retailers are warning that the decline [...]
Activist investor Coast Capital hits back at First Group claims June 4, 2019 US investor Coast Capital has said it “strongly disagrees” with claims made First Group that it is an “opportunistic, self-interested player that is only interested in short-term gains”. Coast, which holds a near 10 per cent stake in the transport giant, has called for a radical shakeup of the company, including that it splits its [...]
Airtel Africa to raise $750m in London listing June 4, 2019 Africa’s second-largest mobile operator Airtel Africa said today it intends to raise $750m (£591m) in a float on the London Stock Exchange. The telecoms group said it will pursue a premium listing on the main market of the stock exchange, meaning it will float at least 25 per cent of its shares. The group is [...]
Five extraordinary remarks from Trump’s Whitehall press conference June 4, 2019 As tens of thousands of people took to the streets today in central London to protest President Donald Trump’s state visit to the UK, the object of their ire gave a joint press conference with Theresa May in Whitehall. Trump’s press conferences are seldom dull affairs, and his arrival in the UK was marked by [...]
Corbyn is a ‘negative force’, says Trump June 4, 2019 Donald Trump revealed he turned down a meeting with Jeremy Corbyn, describing the Labour leader as a “negative force”. The US president confirmed Corbyn had requested a meeting while Trump was in the UK on a state visit. Read more: NHS up for grabs in UK-US free trade deal, Trump says The Labour leader boycotted [...]
Trump: US and UK will reach an agreement on Huawei June 4, 2019 US President Donald Trump has said his country will be able to work out any differences with the UK over Chinese tech firm Huawei. Read more: Huawei to sell undersea cable business amid trade feud with US Speaking to reporters in London during a three-day state visit to the UK, Trump denied the US would [...]
UK startups break records with $4.8bn VC funding this year June 4, 2019 UK tech startups have already broken past their half-year record for venture capital investment, reaching $4.8bn (£3.8bn) of funding across the burgeoning tech sector in just five months. It topped the previous record set in the first six months of 2017 of $4.2bn, according to data from Tech Nation and Dealroom through their new Data [...]