End of austerity? Chancellor fast-tracks spending review ahead of Brexit deadline August 8, 2019 Sajid Javid is making his first major intervention as chancellor, with a move that could turn on the spending taps in Whitehall. The Treasury has begun a fast-tracked spending round for all government departments, which will be completed in September, well in advance of the looming Brexit deadline of 31 October. Once complete, departments and [...]
Car crash: Uber shows record loss in new results August 8, 2019 Uber disappointed investors yesterday as the ride-hailing app showed its biggest-ever loss, and slowest revenue growth. Second-quarter net loss hit $5.2bn (£4.3bn), widening from $878m, as the company paid up $3.9bn for its May listing. Read more: Lyft off: Ride-hailing app makes inroads as it beats expectations Finance chief Nelson Chai said the company had [...]
Going for broke(rs): Student takes job hunt to Moorgate station for his big break in finance August 8, 2019 A university student trying to get his start in London’s financial district took matters into his own hands this week when he spent 11 hours stood outside Moorgate station holding a placard asking the capital’s brokers to give him a chance. “It’s not where I’m coming from, it’s where I’m going,” read Imperial College London [...]
Political fallout threatens future of Westminster Holocaust memorial August 8, 2019 The fate of a proposed £100m Holocaust memorial in the heart of Westminster is hanging in the balance following a major political fallout. The memorial, which has been widely backed by MPs and will also include a learning centre, has been proposed for Victoria Tower Gardens on Milbank, a world heritage site. Read more: Sadiq [...]
Trio of ex-Barclays execs facing October trial over Qatar financial crisis fundraisings August 8, 2019 Three senior former Barclays executives are set to face a criminal trial in October on charges relating to their involvement in Qatar’s participation in an emergency fundraising at the height of the financial crisis. Barclays’ former investment head for the Middle East and north Africa Roger Jenkins, former wealth management boss Tom Kalaris and former [...]
Rush hour nightmare: Severe delays hit four Tube lines amid Euston station shutdown August 8, 2019 Severe delays have hit several London Undeground lines this evening after a person was spotted on the track earlier today. Delays struck the Circle, Hammersmith and City, Jubilee and Metropolitan lines, Transport for London has said. Read more: Travel chaos strikes at Euston station Authorities said a trespasser had been on the tracks. Delays were [...]
Boris Johnson reveals immigration overhaul to attract ‘brightest and best’ after Brexit August 8, 2019 Boris Johnson has announced immigration shakeup that would see the cap on the number exceptional talent visas scrapped to attract the “brightest and best” to the UK. The Prime Minister said a new fast-track visa route would allow Britain to attract world-class specialists in science, technology and engineering after it leaves the European Union. Read [...]
Scrapped: Guy Hands ‘pulls out of takeover plans’ for German Cartonplast August 8, 2019 Private equity magnate Guy Hands is said to have abandoned takeover plans for a European packaging business. His firm, Terra Firma Capital Partners, has withdrawn from negotiations to buy German packaging company Cartonplast, according to Sky News. The withdrawal raises questions about the ability of one of the most prominent British financiers to land fresh [...]
World bond market sets quarterly record after boom in first-half activity August 8, 2019 The world’s green bond market hit a record quarterly high in the last three months, as investor appetite in environmental assets picked up pace. Issuers brought $66.6bn (£54.8bn) of green bonds to market globally in the second quarter of 2019, propelling issuance in the first half of the year and shattering records. Read more: Climate [...]
Fall in super-rich ‘non-doms’ sees tax receipts fall August 8, 2019 The number of super-wealthy UK residents who pay no tax on foreign earnings in Britain has fallen to a record low, causing tax receipts to suffer, HM Revenue and Customs (HMRC) revealed today. Read more: Freeports: Government plans tax-free hubs There were 78,000 non-domiciled taxpayers in Britain last year, down from 98,500 the year earlier, [...]