City bigwig Michael Spencer blasts ‘politically motivated’ regulators July 28, 2019 City grandee Michael Spencer has launched a scathing attack on “politically motivated” regulators after his firm successfully challenged a €15m (£13.5m) fine over the Libor rate-rigging scandal. The former Tory party treasurer urged banks to stand up to regulators after his brokerage firm Icap won its court battle against the European Commission earlier this month. [...]
Government now assuming a no-deal Brexit and increased borrowing July 28, 2019 Michael Gove has said today that the new government will “operate on the assumption” of a no-deal Brexit on 31 October. Read more: Tories get ‘Boris bounce’ in polls but pledge to focus on Brexit Meanwhile, the chancellor’s deputy, Rishi Sunak, today insisted that Britain can pay for the costs of no deal with extra [...]
Beggars Group music boss Martin Mills bags £8m payday July 28, 2019 The music mogul behind record company Beggars Group bagged an £8m dividend last year as his firm cashed in the sale of its stake in Spotify. Read more: Warner Music buys record label behind Les Miserables and Mary Poppins Martin Mills, who founded Beggars in 1977, secured the sum after a strong year of trading [...]
Primark demands rent cuts after rivals secure insolvency boost July 28, 2019 Primark is said to be demanding rent cuts on dozens of stores as it looks to keep up with struggling rivals that have cut costs through insolvency procedures. The fashion chain is asking landlords to slash rent by 30 per cent on stores where the leases have several years remaining, and is offering lease extensions [...]
Tories get ‘Boris bounce’ in polls but pledge to focus on Brexit July 28, 2019 The Conservatives have received a ‘Boris bounce’ in the polls just days after picking their new leader and prime minister. Read more: Boris Johnson ‘absolutely’ rules out pre-Brexit general election New PM Boris Johnson has earned the Tories a 10 point jump in a poll for the Mail on Sunday, and a six point boost [...]
Just Eat ready to serve up £9bn merger with Takeaway.com July 27, 2019 Just Eat is in talks over a £9bn merger with a rival based in Holland. The London-listed food delivery service and Takeaway.com have been in discussions for several weeks. Read more: Sports Direct hit by £605m tax bill and ‘terminal’ House of Fraser issues An agreement should be agreed as soon as the end of [...]
No-deal Brexit a ‘threat’ to UK’s science sector, says Wellcome Trust July 27, 2019 The chairwoman of the Wellcome Trust, the UK’s biggest charitable funder of scientific research, has written to Boris Johnson claiming that a no-deal Brexit is a “threat” to the science sector. Lady Eliza Manningham-Buller has backed Johnson’s vision for the science industry, but warned against the potential damage leaving the EU without a deal could [...]
Boris Johnson ‘absolutely’ rules out pre-Brexit general election July 27, 2019 Boris Johnson has ruled out calling a general election prior to the Brexit deadline of 31 October. The Prime Minister said voters did not want to return to the polls for another general election or referendum until the mandate had been completed. Read more: Ireland foreign minister hits out at Boris Johnson’s “unhelpful” Brexi approach [...]
US and UK working on ‘very substantial’ trade deal, says Trump July 27, 2019 US President Donald Trump has revealed that he has begun talks with Boris Johnson and the UK about a “very substantial” trade deal. Speaking on Friday, Trump said that a deal between the two countries following the UK’s exit from the European Union could lead to a “three to four, five times” increase in current [...]
Boris Johnson to pledge funding for high-speed rail route between Leeds and Manchester July 27, 2019 Boris Johnson is expected to pledge to fund a new high-speed rail link between Leeds and Manchester during a speech in the latter, later today. He will give his backing to the trans-Pennine transport link to “turbo-charge the economy”. Read more: UK car industry tells Boris Johnson no-deal Brexit not an option It is the [...]