North Korea fires ‘short-range ballistic missiles’ August 10, 2019 North Korea has fired two missiles into the sea, which South Korea’s military believe to be short-range ballistic missiles. It is the fifth launch of its kind in recent weeks, and if confirmed, would be a breach of 11 UN security council resolutions. Read more: Trump makes history by stepping into North Korea The two [...]
Tories outspend all their political rivals combined on Facebook advertising August 9, 2019 The Conservative Party has spent more money than any of its political rivals on Facebook advertising over the last month, within which time Boris Johnson has taken over from Theresa May as Prime Minister. The Tories have spent £51,719 on Facebook Ads during that period, almost three times more than the Labour Party, according to [...]
Boris Johnson warns civil servants against ‘complacency’ over no-deal Brexit August 9, 2019 Boris Johnson has warned the civil service that there are “no grounds for complacency” as the UK rushes to prepare itself for the possibility of a no-deal Brexit. The Prime Minister sent a letter to all civil servants today telling them that “preparing urgently and rapidly for the possibility of an exit without a deal [...]
Brexit panic ‘not justified’, says former Trump trade adviser August 9, 2019 The current levels of panic around Brexit are “not justified”, according to a former top trade adviser to the US President Donald Trump. The former general counsel on trade, Stephen Vaughn, believes the UK has “enormous leverage” in any trade deal agreed with the US, he told the BBC. Read more: End of austerity? Chancellor [...]
Prosperity or pound shop? Our free trade future awaits August 9, 2019 Like most of us, I’ve been watching the new government in the UK with interest – and no small measure of anxiety. As it became clear that Boris Johnson would emerge as the new PM, it also became clear that there would be a sharp change in government policy across the board. Theresa May, for [...]
‘Enough is enough’ says police chief, after Leyton machete attack August 8, 2019 A police officer is in critical condition after being stabbed with a machete multiple times during a “frenzied, unprovoked and shocking attack” in east London late last night. The injured officer managed to defend himself with a Taser, but not before being stabbed in the head and body “a number of times”, police said. He [...]
New business down at Hargreaves Lansdown as Woodford scandal bites August 8, 2019 Hargreaves Lansdown has seen a drop in net new business as the impact of the Neil Woodford saga on the investment provider begins to become clear, but revenues and assets under administration still rose. The numbers Hargreaves Lansdown reported a four per cent drop in net new business for the year ending 30 June, which [...]
Shares crash as short seller Muddy Waters savages Burford Capital August 7, 2019 Litigation finance firm Burford Capital has come under attack from short seller Muddy Waters, which has accused Burford of “egregiously misrepresenting” returns. In a report out this morning, Muddy Waters confirmed that it now holds a short position on Burford, which it describes as “a poor business masquerading as a great one”. Shares in the [...]
Hargreaves Lansdown CEO and executives waive bonuses in wake of Woodford scandal August 7, 2019 Four executives including the chief executive of Hargreaves Lansdown will surrender their bonuses this year following pressure over the company’s support for Neil Woodford’s flagship fund. Hargreaves Lansdown continued to recommended Woodford’s equity income fund right up until it was suspended on 3 June after becoming overwhelmed by investor withdrawals. The gating of the fund [...]
When the fund stops: Why times are tough for UK asset managers August 6, 2019 It’s been a difficult year for the UK investment industry, and things could get worse before they get better. Fallout from the Woodford saga and increasing fears of a no-deal Brexit are continuing to pummel asset managers as they try to stem ongoing outflows. And with regulatory pressure ramping up, they are facing questions not [...]