Shadow transport secretary says Labour will not hand HS2 a ‘blank cheque’ March 20, 2019 Shadow transport secretary Andy McDonald has said Labour will not grant the controversial HS2 project a "blank cheque" if it gets into office. Giving a keynote speech of Labour's transport policies at the Institute for Government, McDonald reiterated Labour's support for HS2 but said the costs of the £56bn railway would have to be watched "like [...]
Theresa May hints she would resign instead of accepting long Brexit delay March 20, 2019 Downing Street has repeatedly refused to say if Theresa May will stay on as Prime Minister if the EU insist on a long delay to Brexit. Speaking in the Commons, May indicated she would rather quit the top job than facilitate a long extension to the withdrawal negotiations, saying: “As Prime Minister, I am not [...]
Analysts expect outward looking Federal Reserve to keep rates on hold March 20, 2019 The US’s central bank is widely expected to leave interest rates on hold today when it announces its decision at 6pm UK time, with analysts predicting limited market reaction. Analysts also expect the Federal Reserve’s Federal Open Market Committee (FOMC) to give a date by which it will have ended “winding down” of its balance sheet. [...]
Bottoms up! March 20, 2019 | City Talk If an investor is specifically looking for reasons not to invest, he or she will always find them. Indeed, for one reason or another, it has been said that “now is the most difficult time to invest”, in perpetuity! At present, such reasons are in ample supply – geopolitical concerns, populism, punchy valuations, a lack [...]
Cyber attacks could now cost the UK economy £1bn per year, research reveals March 20, 2019 Distributed denial-of-service (DDoS) cyber attacks may now cost the UK economy more than £1bn every year, new research has revealed. The majority of business affected by DDoS attacks, which infect a network and block users from accessing it, suffered network outages costing on average £140,000, according to research firm Netscout. Read more: FTSE firms must [...]
Beware of these Tube terrors if you’re travelling on the London Underground March 20, 2019 Only the bravest explorers traverse the London Underground. The tunnels of the Tube have their own microclimate and ecosystem, and are inhabited by a wide array of eccentric species. Most of these specimens are placid, if not friendly, but recently I have observed a worrying trend of hostility from Undergrounders. It’s rough out there, so [...]
Slim pickings at Slaughter and May as only one lawyer made up to partner March 20, 2019 Transactional advisory powerhouse Slaughter and May has promoted just one lawyer to its partnership in its 2019 promotions round. The Magic Circle firm made up four new partners in 2018, seven in 2017 and 10 in 2016. The only lawyer to make the grade this year is City M&A and corporate finance practitioner Harry Bacon [...]
Simplybiz acquires financial adviser platform Defaqto for £74m March 20, 2019 Simplybiz has acquired financial adviser fintech firm Defaqto for £74.3m. Shares in AIM-listed Simplybiz, a compliance and business services provider, rose more than four per cent on the news. Read more: Business software M&A hits five-year high The combination will create a single fintech and support services group, and the acquisition is expected to enhance earnings during the first [...]
Theresa May asks EU to extend Article 50 until 30 June as EU presses for 2020 extension March 20, 2019 Theresa May has asked the EU to delay Brexit by three months to 30 June. The Prime Minister has confirmed that she has asked Brussels to extend Article 50 – the mechanism that allows the UK to leave the EU – for three months rather than to seek a longer extension. Read more: Sterling dips [...]
National Portrait Gallery drops £1m donation from family embroiled in US opioid crisis March 20, 2019 The National Portrait Gallery has dropped a £1m donation from a family embroiled in the US opioid crisis. The Sackler Trust said they had “decided not to proceed at this time” and that the donation would deflect from the gallery’s important work. Read more: Indivior sells China opioid treatment drug in $122m deal The Sackler [...]