Government edits no deal documents to remove the word ‘unlikely’ December 20, 2018 The Brexit department confirmed it had stepped up ‘no deal’ planning by updating government advice to remove the claim it is an “unlikely” outcome. A tranche of technical notices released by the government since the summer repeatedly claimed the chance of leaving the EU without an agreement was “unlikely”. However, following Tuesday’s cabinet meeting, where [...]
EU competition watchdog warns four banks over bond trading cartel December 20, 2018 The European Commission has warned four banks they may have breached EU competition rules, as the watchdog investigates an alleged bond trading cartel. Employees at the banks allegedly colluded in online chatrooms to distort competition in US dollar denominated bonds in the secondary market over a six year period. The investigation relates to conduct by individual [...]
Gatwick Airport in total shutdown as drones investigation hits Christmas travellers December 20, 2018 Passengers flying from Gatwick Airport have been told not to travel to the airport today, with all incoming and outgoing flights currently suspended. At least 20,000 passengers have already been affected, with hundreds of thousands of journeys likely to be disrupted in the coming days. Gatwick's operations chief Chris Woodroofe said those travelling home for Christmas will [...]
Outsourcer Kier Group’s lenders face underwriting headache after rights issue flounders December 20, 2018 Kier Group’s shares were down 6.49 per cent today after it admitted investors only bought 38 per cent of the new shares it had issued as part of a fundraising effort. The beleaguered outsourcer's banks will now be forced to fork out millions to buy shares in Kier, after some of its biggest investors opted [...]
Lloyd’s of London prepares for Brexit with new European team December 20, 2018 Lloyd’s of London has appointed a team to head up its Brussels hub as the insurance giant seeks to insure itself against Brexit. Sonja Rottiers takes over as chief executive of newly formed Lloyd’s Brussels. She will be joined on the board by new chairman Michel Flamée, a former board member of the National Bank of [...]
Vladimir Putin says UK and Russia must break ‘deadlock’ in sour relations December 20, 2018 Vladimir Putin has held his annual press conference in which he said Russia and Britain must get out of the "deadlock" in the sour relations. The Russian president said he was interested in restoring "full relations" with Britain, which has imposed sanctions on Russia over the poisoning of former spy Sergei Skripal and his daughter [...]
Andrea Leadsom and Amber Rudd float alternative ‘Plan B’ Brexit options to PM’s deal December 20, 2018 Cabinet members Amber Rudd and Andrea Leadsom have set out their alternative Brexit options as the Prime Minister continues to struggle to make her case for her Brexit deal. Work and pensions secretary Rudd told ITV last night that a second referendum was a "plausible" way forward if MPs could not reach a consensus. Rudd added [...]
RT broke broadcasting rules on impartiality, says Ofcom December 20, 2018 Kremlin-funded broadcaster RT broke impartiality in news programmes after the Salisbury novichok poisoning in March, Ofcom said today. The media regulator said RT, formerly known as Russia Today, failed to preserve due impartiality in seven news and current affairs programmes over a six-week period. “Taken together, the seven breaches represent a serious failure of compliance with [...]
Sadiq Khan proposes council tax hike to tackle ‘brutal reality’ of violent crime December 20, 2018 London mayor Sadiq Khan has said he will increase council tax by the maximum amount possible to tackle violent crime in the capital. Khan's proposal would see his share of council tax increase by 9 per cent, or £26.28 a year in cash terms, for an average Band D council tax payer, taking the overall precept [...]
Bank of England keeps interest rates unchanged and warns Brexit uncertainty has ‘intensified considerably’ December 20, 2018 The Bank of England’s monetary policy committee said Brexit uncertainty had “intensified considerably” and warned of growing risks to the economy as it held interest rates for a third consecutive meeting. The rate-setting committee, which raised rates to 0.75 per cent in August, unanimously voted to hold interest rates, it said today. “Since the MPC’s [...]