Davis kicks off Article 50 Bill debates with call on MPs to “move swiftly” in approving legislation January 31, 2017 Brexit secretary David Davis has kicked off two days of debate on granting the Prime Minister power to trigger Article 50 with a call on MPs to "move swiftly" in approving legislation. Following this week's debate MPs will discuss amendments on the Article 50 Bill next week before a final vote in the House of Commons on 8 [...]
Ocado to increase prices this year due to devaluation of sterling January 31, 2017 Ocado has become the latest retailer to say it will be increasing prices this year due to the fall in the value of the pound since the Brexit vote. Speaking to City A.M., Duncan Tatton-Brown, Ocado's chief financial officer, said it was likely that the company would increase prices on certain products "as and when the [...]
Hurting the City will hurt the EU too, experts remind MPs January 31, 2017 Attempts by other EU member states to undermine the City of London's financial crown will wind up hurting them too, banking and finance experts reminded MPs today. Representatives from influential City groups, along with deputy editor of the Telegraph Allister Heath, also told the International Trade Committee the City would need to devise a unique [...]
A startup sprouting up across London could be getting a massive investment from Softbank January 31, 2017 A startup that seems to be on almost every corner in the centre of London these days could be about to land a major investment from Softbank's massive $100bn tech fund, according to reports. WeWork, a co-working space which already has 12 locations in the capital, could be the first investment made by the Japanese firm's new Vision Fund, [...]
Deadline day: Sky and Discovery close in on 11th hour deal January 31, 2017 Sky and Discovery are closing in on a last-minute deal to save the likes of Eurosport and Animal Planet from the UK's screens. The two media giants are in the middle of an embarrassing spat over the future of Discovery's channels on the Sky platform. Read more: Still hope? Deadline looms for Sky and Discovery Last Wednesday Discovery [...]
Twitter looks like it’s taking abuse on the platform seriously… finally January 31, 2017 Twitter finally appears to be tackling one of its most serious problems – abuse. In an apparent mea culpa that it has so far failed to tackle an issue that has plagued the platform for some time – and after many previous claims that it is trying to fix it – chief executive Jack Dorsey said the tech [...]
Lloyd’s of London says it can manage a $200bn event: Here are four scenarios insurers used to test themselves January 31, 2017 Like the rest of the world, Lloyd's of London was caught unawares by the attack on the World Trade Centre in September 2001. The world has been hit by natural catastrophes since the tragic 9/11 terror attacks, but what would happened in a doomsday scenario where a number of apocalyptic events all occurred at once? [...]
Japan’s biggest brokerage Nomura doubles its profits in third quarter as fixed income activity rockets January 31, 2017 Japanese financial giant Nomura today revealed it raked in twice as much profit during the third quarter of its most recent financial year than it did the year before. The figures Net income at Japan's biggest brokerage shot up to ¥70.3bn (£496m), a 99 per cent increase compared with ¥35.4bn the year before and an increase of [...]
Sadiq Khan to tell diplomats from around the world to reject Trump’s travel ban January 31, 2017 London mayor Sadiq Khan will tonight tell an audience of international diplomats to reject US president Donald Trump's harsh new restriction on travel into the US. Trump introduced a 90 day suspension on arrivals from seven Muslim majority Middle Eastern and African countries over the weekend, though the Foreign Office has claimed that British passport holders [...]
Deutsche Bank settles New York probe with $425m fine January 31, 2017 Shares in Deutsche Bank rose after it agreed to a $425m (£340m) fine to New York's banking regulator over a trading scheme that moved $10bn out of Russia between 2011 and 2015. The bank's shares rose 2.2 per cent to €19.02 in late morning trading. The "mirror trading" scheme allowed clients to buy stocks in Moscow in [...]