Merkel insists Germany has its own standards after US warning on Huawei March 12, 2019 German Chancellor Angela Merkel has hit back at a warning from the US over the use of Huawei 5G equipment, saying Germany will set its own security standards for the new network. “Security, particularly when it comes to the expansion of the 5G network, but also elsewhere in the digital area, is a very important [...]
Challenger banks ‘still a year away’ from competing with major lenders, Aldermore chief executive Phillip Monks says March 12, 2019 Challenger banks are still at least a year away from being able to fully compete with the dominant UK lenders, according to the chief executive of Aldermore. Phillip Monks, who founded the first UK challenger bank 10 years ago, said the main players in the sector must secure a licence to adopt an internal ratings-based [...]
Property developer Weston buys Watford Laundry Factory for £85m March 12, 2019 Property developer Weston Homes has bought the historic Watford Laundry Factory for £85m as it begins work on a new residential development. The company will transform the site into a new scheme providing 227 new homes and a new commercial facility. The Watford Laundry Factory was founded in 1907 and has a long history of [...]
Lending rises for remortgages but falls for UK house buyers at end of 2018 March 12, 2019 Mortgage lending was up for remortgaging and down for house purchasing in Britain in the fourth quarter of 2018 compared to a year earlier, new statistics by the Bank of England and Financial Conduct Authority (FCA) have shown. The proportion of high loan-to-income (LTI) loans, those greater than four times the value of annual income [...]
EU drops plans for digital tax as pressure builds for global reform March 12, 2019 The EU has scrapped plans to roll out a digital tax on tech giants due to opposition from several member states. Romanian finance minister Eugen Teodorovici today told representatives of EU governments the plan has been axed as no agreement could be reached after months of talks, Reuters reported. Read more: EU digital tax could [...]
European authorities impose flight ban on Boeing 737 Max 8 models after fatal Ethiopia crash March 12, 2019 THE CRISIS at aerospace giant Boeing reached a fever pitch today after aviation authorities and airlines across the globe grounded its latest jet model, after it suffered its second fatal crash in five months. The European Union Aviation Safety Agency (EASA) was joined by others in China, Singapore and Australia yesterday in putting a flight ban [...]
US warns Germany it will cut intelligence sharing if it does not block Huawei March 12, 2019 The US has told Germany it will cut back intelligence sharing with its spy agencies if the country does not ban the use of Huawei’s equipment in its 5G network. The warning came in a letter from the US ambassador to Germany dated Friday, the Wall Street Journal reported. Read more: China backs Huawei's bid [...]
Malaysia, Singapore and Australia issue flight ban on Boeing 737 Max 8 models after fatal Ethiopia plane crash March 12, 2019 The crisis at aerospace giant Boeing has continued to grow this afternoon after Malaysian authorities became the latest to ban the firm's latest jet model from flying in or out of the country. Malaysia follows Singapore and Australia's decision to ground their fleets of Boeing 737 Max 8 planes this morning, after the US aircraft [...]
Britain’s trade gap widens as exports to EU fall March 12, 2019 The UK’s trade deficit in goods and services widened by £1.3bn to reach £10.4bn in the three months to January as exports of cars and fuels fell, the Office for National Statistics (ONS) has said. Britain’s trade in goods deficit widened by £1.6bn with EU countries and £0.8bn with non-EU countries to reach a total of £38bn, the [...]
Equality regulator launches probe into BBC over equal pay scandal March 12, 2019 The BBC will face a formal investigation by the equality regulator following complaints female employees were not paid as much as men for the same work. The Equality and Human Rights Commission (EHRC) today said it has opened a probe into the broadcaster’s historical policy and pay practices and will look at formal and informal [...]