Sunak ‘confident’ of tech tax progress ahead of G7 finance meeting June 4, 2021 Chancellor Rishi Sunak has said he is “confident” of making “concrete progress” towards a global deal for taxing digital giants when the G7 finance ministers meet over the weekend. Taxing firms such as Amazon and Facebook has become an area of disagreement between the US and a number of other countries. Earlier this week the [...]
US slaps tariffs on UK goods in push for global tax deal June 3, 2021 The US has slapped new trade tariffs on six nations including the UK as President Joe Biden seeks to corral fellow economies into backing his proposals for a global tax deal. After announcing tariffs worth 25 per cent against $2bn worth of goods from the UK, Italy, Spain, Turkey, India and Austria, the White House [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Shark bait: Elon Musk tweet sends Baby Shark shares soaring June 2, 2021 Shares in a major investor in the company behind Baby Shark soared today after Elon Musk took to Twitter to say the viral kids’ song “crushes all”. Samsung Publishing saw its shares climb as much as 10 per cent following the tweet to their highest level in more than a month. The South Korean company [...]
Sarah Everard died from ‘compression of the neck’, police said June 1, 2021 A post–mortem found Sarah Everard, who went missing in March, died from compression of the neck, police have said. Everard, 33, went missing as she walked home from a friend’s house in Clapham on March 3. Her body was found a week later in woodland in Kent. The Metropolitan Police said on Tuesday: “A post-mortem [...]
Sadiq Khan: TfL settlement is not the deal we wanted June 1, 2021 London Mayor Sadiq Khan has hit out at the emergency funding package signed off today by Government and TfL to keep the capital running. The deal includes a raft of cuts across Transport for London’s operations and does not go as far as many hoped in providing a long-term settlement for the capital’s transport network. [...]
Russia to set up 20 new military units in west to counter Nato’s ‘growing threat’ May 31, 2021 The Russian military will form 20 new units in the country’s west this year to counter what it claims is a growing threat from Nato. Defence minister Sergei Shoigu made the announcement at a meeting with top military officials. He pointed to a growing number of flights by US strategic bombers near Russia’s borders, deployments [...]
US informs Russia it will not rejoin Open Skies arms control pact May 27, 2021 The Biden administration has informed Russia that it will not rejoin a key arms control pact, even as the two sides prepare for a summit next month between their leaders. US officials said Deputy Secretary of State Wendy Sherman told the Russians that the administration had decided not to re-enter the Open Skies Treaty, which [...]
Cummings: Govt and Bank of England feared lockdown would set off bond market meltdown May 26, 2021 Both the UK government and the Bank of England were afraid bond markets would face a meltdown if the economy was sent into lockdown, according to Dominic Cummings. Boris Johnson’s former advisor revealed during a parliamentary hearing in Westminster that it was the Bank of England that warned for the potential impact of a lockdown [...]
PMQs: Boris hits back at Cummings’ ‘complacency’ allegations May 26, 2021 The Prime Minister refused to agree with his former chief aide Dominic Cummings that the Government had “failed” the British people during the Covid-19 pandemic. Under questioning from Labour leader Sir Keir Starmer, Boris Johnson denied he had referred to the Covid-19 pandemic as a “scare story,” an allegation made by Mr. Cummings. “I don’t [...]