US secretary of state Mike Pompeo invokes Iron Lady as he slams UK over Huawei decision May 8, 2019 US secretary of state Mike Pompeo has ramped up the rhetoric against Huawei, invoking the legacy of former Prime Minister Margaret Thatcher as he urged the UK to take a tougher line on the Chinese tech firm. In an impassioned speech, Pompeo slammed the UK’s reported decision to allow Huawei to build parts of its [...]
Chris Grayling could be forced to take the stand as Stagecoach launches legal action over franchise snubs May 8, 2019 Beleaguered transport secretary Chris Grayling could be called to the stand to defend the government after Stagecoach formally launched legal action over its decision to disqualify it from three rail franchises. After weeks of tension, Stagecoach formally launched legal action against the Department for Transport (DfT) over its decision to disqualify the firm from the [...]
Tesla closes $2.7bn offering as it raises cash to fuel expansion plans May 8, 2019 Electric car company Tesla said today it had closed its $2.7bn (£2.08bn) offering of stock and convertible notes in an offering it said was oversubscribed. The fundraise gives Tesla some much needed cash as it tries to boost production. Tesla sold about $1.84bn in debt and $860m shares, with underwriters exercising their option to buy [...]
Trump claims China stalled on trade deal in hopes of dealing with Democratic president May 8, 2019 US President Donald Trump has claimed that China was seeking to U-turn on the trade deal struck between the two countries in the hope that it could renegotiate with a Democratic president following the 2020 election. Read more: Global markets in tailspin after Trump threatens huge China tariff rise He also said that China's vice-premier [...]
Trump claims tax revelations detailing historic $1bn losses are ‘fake news hit job’ May 8, 2019 Donald Trump has hit back at reports that he lost more than $1bn dollars between 1985 and 1994, saying the fact he was a real estate developer gave him leeway with his taxes. Read more: The art of the deal: Five things we learned from Trump’s tax returns Responding to the publication of his long-sought [...]
No change to Theresa May’s plan to stay as Prime Minister until Brexit deal passed, Downing Street confirms May 8, 2019 Theresa May will not quit as Prime Minister until the Brexit deal is passed by MPs, Downing Street confirmed today amid growing pressure for her to step down. The Prime Minister told her MPs in March she would resign as party leader once phase one of the Brexit negotiations are completed, leaving her successor to thrash [...]
The art of the deal: Five things we learned from Trump’s tax returns May 8, 2019 Hours after one of Donald Trump’s closest White House allies, Treasury secretary Steve Mnuchin, formally refused the Democrats’ request for the President’s tax returns late on Monday, the cat was out of the bag. Trump’s much-sought after tax returns reveal massive losses throughout the eighties and nineties for the self-styled master of the deal, topping more [...]
Global stocks continue downwards trend as poor Chinese data adds to trade fears May 8, 2019 Global stock markets have continued to slide today as investors digested the impending increase of US tariffs on goods from China and weaker-than-expected Chinese exports. Read more: Global markets in tailspin after Trump threatens huge China tariff rise The UK benchmark FTSE 100 had fallen 0.4 per cent to 7,234.96 shortly after midday UK time [...]
Chinese exports unexpectedly fall as pressure builds to reach trade deal with US May 8, 2019 China’s gigantic trade surplus unexpectedly narrowed in April, as the country’s exports fell 2.7 per cent year-on-year in a sign that pressure from the US was hurting the Chinese economy. Read more: Global markets in tailspin after Trump threatens huge China tariff rise Imports fared better, however, rising four per cent in April after a [...]
Sterling slips as UK prepares to take part in European elections May 8, 2019 The pound slipped 0.23 per cent this morning from $1.307 to $1.304 following yesterday's confirmation that the UK will take part in the EU elections. The 0.23 per cent drop comes after the government repeatedly said it did not want the UK to take part in the elections to the European Parliament later this month. [...]