Theresa May publishes her Brexit plan in government white paper February 2, 2017 Prime Minister Theresa May has issued her much-demanded Brexit white paper, less than 24 hours after MPs voted in favour of granting her the power to begin EU divorce proceedings. The government paper was released by the Department for Exiting the European Union earlier today, following repeated calls for the government to expand on May's [...]
7 things to know from the government’s Heathrow expansion plans February 2, 2017 By now you may have heard the government has set out its draft national policy statement for Heathrow expansion, kicking off a 16-week consultation. But what's this about and what does it mean for Heathrow's third runway? Read more: Government to unveil Heathrow third runway national policy statement 1. Now's the time to air your views [...]
John McDonnell says Labour’s frontbench Brexit rebels may not face the sack February 2, 2017 Labour shadow chancellor John McDonnell has said the party's Brexit rebels may be able to serve on the frontbench, despite disobeying direct orders. 13 Labour shadow ministers, including three party whips, voted against the progress of the Article 50 Bill in the House of Commons last night, ignoring instructions from party leader Jeremy Corbyn to [...]
London-based Hot Wheels game maker Hutch raises £4m from Index Ventures and Backed VC February 2, 2017 A Silicon Roundabout star behind a hit Hot Wheels video game has zoomed off with a $5.5m (£4.3m) investment. Hutch, which has studios in London and Brighton, raised the money from Index Ventures and Backed VC. Founded in 2011, Hutch received seed financing in 2014, via a round led by Initial Capital. Hot Wheels: Race Off, [...]
Bank of England in dramatic upgrade of UK growth forecasts February 2, 2017 Bank of England governor Mark Carney dramatically revised up growth forecasts today, while dismissing fears of banks leaving the UK after Brexit. The Bank now predicts no slowdown over the course of this year. GDP will climb two per cent, according to the Bank’s latest forecasts, the same rate as growth in 2016. The upgrade [...]
Tesco Bank’s chief exec says lenders don’t pay customers enough interest on current accounts February 2, 2017 The boss of Tesco Bank has hit out at high street rivals, claiming they make billions of pounds by skimping on the rate of interest paid to customers. Benny Higgins, who led the lender through a mammoth cyber attack on Tesco Bank last November, said the amount of switching between providers remains "stubbornly low", something lenders [...]
Deutsche Bank’s management board has promised it won’t be the first to leave London after Brexit February 2, 2017 Deutsche Bank does not plan to be among the first tranche of financial firms shifting jobs out of London because of Brexit woes. Speaking at the bank's annual results press conference today, Sylvie Matherat, the German giant's regulatory chief, said: "We will not be a first mover". Instead, Matherat said the bank would be keeping [...]
Mapped: All the stations that will be shut for the upcoming Tube strike February 2, 2017 Deep breath, one and all. As it stands, another Tube strike (well two actually) is going to give the capital's commuters more to grumble about next week. The planned walkouts by the RMT union over ticket office closures and job cuts will affect services from 6pm on Sunday 5 February to 11am Wednesday 8 February. Read more: There's [...]
Output in the UK’s construction industry grew unexpectedly slowly in January February 2, 2017 The pound fell off its highs this morning after figures revealed output in the UK's construction industry had grown unexpectedly slowly in January – suggesting the sector's tentative recovery is swiftly running out of steam. Markit's purchasing managers' index for the construction industry dropped to 52.2 in January, from 54.2 in December and against expectations of 53.8. Any figure [...]