Investor ‘threatens to oust chair’ at troubled printer De La Rue July 16, 2019 Banknote and passport producer De La Rue faces fresh boardroom disruption after a City investor is said to have threatened to force its chairman out. Crystal Amber activist fund has written to the company, informing the board that it plans to force an EGM unless chairman Philip Rogerson resigns by its annual shareholder meeting later [...]
Sterling hits new two-year low as no-deal Brexit risk jumps July 16, 2019 The pound tumbled to fresh two-year lows against the dollar today after the two candidates to replace Theresa May pledged to abandon the controversial Northern Ireland backstop proposals, ramping up the chances of a no-deal Brexit. Read more: Amber Rudd: I won’t lie down in front of bulldozers to stop no-deal Brexit Boris Johnson and [...]
Boris Johnson considering suspending parliament to force through a no-deal Brexit July 16, 2019 Boris Johnson is considering shutting down parliament at the end of October to stop MPs blocking a no-deal Brexit. According to Sky News, the plan would involve Johnson, if he wins the race to succeed Theresa May as Prime Minister, scheduling a Queen’s Speech for the beginning of November. It is conventional for MPs to [...]
Tulip tower: Developers will meet to consider appeal after Khan halts project July 16, 2019 Backers of the proposed Tulip tower will meet this week to consider an appeal against Sadiq Khan’s decision to reject their planning application, City A.M. understands. US-based developers the Tulip Project said they were “disappointed” the mayor stopped the project at the final hurdle. They maintained the tower would “generate immediate and longer-term socio-economic benefits [...]
HS2 locks horns with Bechtel in bid to break contract stalemate July 16, 2019 HS2 has asked the High Court to allow it to push on with the construction of one its London stations despite an ongoing legal challenge from engineering giant Bechtel. HS2 Limited, which is overseeing the proposed £56bn railway linking London to the north, has applied to lift the “automatic suspension” that is preventing it from [...]
Race begins for IMF top job as Christine Lagarde submits resignation July 16, 2019 Christine Lagarde will leave her post as managing director of the International Monetary Fund (IMF) on 12 September after she today formally submitted her resignation. Read more: IMF chief Christine Lagarde among surprise picks for top EU jobs Lagarde has been chosen to be the next head of the European Central Bank (ECB), and will [...]
Michael Gove now thinks Boris Johnson is a perfect fit for Prime Minister July 16, 2019 Michael Gove appears to have changed his mind about Boris Johnson. Now he thinks the former London mayor would make a “great” Prime Minister. Read more: Sterling hits new two-year low as no-deal Brexit risk climbs Gove, who was accused of stabbing his fellow Brexiter in the back in 2016 to throw his own hat [...]
UK rail franchising system has ‘had its day’, says review head July 16, 2019 The UK’s rail franchising system has “had its day”, the man in charge with reviewing Britain’s railways has said. Former British Airways chief executive Keith Williams, who is leading a government-commissioned review into how to improve the industry, said the franchising model needed to be replaced by a “new commercial model” that worked in the [...]
Massive airport email scam blocked by UK spooks July 16, 2019 An attempt to scam hundreds of thousands of people using a spoof UK airport email address was one of a string of major cyberattacks prevented by spooks last year. Criminals sent more than 200,000 emails impersonating an airport from a fake gov.uk address last August in a bid to defraud people, but the messages were [...]
Wells Fargo outperforms estimates as profits climb July 16, 2019 Wall Street banking giant Wells Fargo reported a rise in quarterly profits this afternoon, comfortably beating expectations as it presses ahead with a major cost-cutting overhaul. The lender posted earnings per share of $1.30 during the second quarter of 2019, rising from $0.98 per share a year ago and beating $1.15 per share Refinitiv estimates. [...]