Conservative leadership contest: Sajid Javid voted out June 20, 2019 Home secretary Sajid Javid has been eliminated from the Conservative leadership contest. Javid picked up 34 votes in the latest ballot of Conservative MPs, finishing last. Foreign secretary Jeremy Hunt came third with 59, while environment secretary Michael Gove finished second with 61 votes. Boris Johnson extended his lead as the frontrunner, picking up 157 [...]
Police arrest fifth man in London Capital & Finance probe June 20, 2019 Police yesterday arrested millionaire businessman Paul Careless in connection with the collapse of mini-bond investment firm London Capital & Finance (LCF). He is the fifth person arrested as part of a Serious Fraud Office (SFO) investigation into LCF’s failure. An SFO spokesperson said: “On 19 June 2019, search warrants were executed at several properties in [...]
Hammersmith Bridge repair costs will not be known until August, says Sadiq Khan June 20, 2019 London mayor Sadiq Khan has said it will take until August for the costs of repairing the closed Hammersmith Bridge to be revealed. London Assembly member Tony Devenish, who represents West Central, asked the mayor whether the four-month time period could be brought forward. Read more: Council blasted for ‘incompetence’ over Hammersmith Bridge closure Khan [...]
Bank of England cuts growth forecast and holds interest rates as no-deal Brexit risk rises June 20, 2019 The Bank of England has decided to keep interest rates unchanged warning that the likelihood of no-deal Brexit was rising and global trade tensions were intensifying. The rate-setting committee, which raised rates to 0.75 per cent in August last year, unanimously voted to hold interest rates, it said today. Read more: Three reasons why the [...]
London tech wages lag behind US despite fintech boom June 20, 2019 Salaries for London tech workers are lagging far behind their US rivals, despite the capital’s status as a leading hub for fintech firms. The average salary for London tech workers is £62,000, up six per cent on last year, according to figures from employment firm Hired. Read more: Five fintech firms scoop combined £25m from [...]
Workplace messaging app Slack prepares to make stock exchange debut June 20, 2019 Workplace messaging platform Slack will go public later today in a move that could value the firm at $16bn. The tech company is preparing to launch a direct listing on the New York Stock Exchange, an alternative to an initial public offering (IPO) which will see shares of the company’s private investors become available for [...]
Minister apologises as UK porn laws are pushed back six months June 20, 2019 Plans to stop people under the age of 18 from accessing online pornography have been delayed for the second time by the government today. Changes designed to stop under-18s from watching pornographic content were set to be launched in just a few weeks, but have now been pushed back a further six months. Read more: [...]
UK banks need ‘more support’ and tax cuts after being let down over Brexit June 20, 2019 UK banks need more support from government to promote a positive vision and cut taxes on the industry, UK Finance chairman Bob Wigley has said. The trade body chair said government failed to adequately support the finance industry in the Brexit negotiations and called for a new formal body to be set up. Read more: [...]
Chance to buy one of the world’s largest retailers cheaply June 20, 2019 | City Talk By Rodney Hobson from interactive investor. After a temporary technical hitch, this highly resilient company should soon shake off the blip. Rodney Hobson is an experienced financial writer and commentator who has held senior editorial positions on publications and websites in the UK and Asia, including Business News Editor on The Times and Editor of Shares magazine. He [...]
Caretech half-year revenue booms after Cambian acquisition June 20, 2019 Care home operator Caretech has posted a sharp rise in revenue and profit for the half year after snapping up rival care and education firm Cambian Group. Read more: Competition watchdog launches probe into merger between Caretech and Cambian Group The figures Caretech’s revenue soared 120 per cent to £192.5m in the six months to [...]