Theresa May moves away from ‘no deal is better than a bad deal’ Brexit pledge May 1, 2019 Theresa May said she was talking in the “abstract” when she claimed “no deal is better than a bad deal” during a grilling over the Brexit stalemate. Appearing before parliament’s powerful Liaison Committee of leading MPs, the Prime Minister repeatedly refused to say whether she would back the UK leaving the EU without an agreement [...]
US Federal Reserve opts to hold interest rates in strong labour market May 1, 2019 The US Federal Reserve said today it was not raising interest rates, citing a strong labour market with solid economic activity. The Fed said it would maintain its target rate at 2.25 to 2.5 per cent. It said the labour market remains strong and economic activity rose at a “solid rate”. It said job gains have [...]
Is it time for Mike Coupe to check out as Sainsbury’s boss? May 1, 2019 Mike Coupe was met with rapturous applause from his fellow directors when he stepped up to the microphone this morning, as he hailed the coming of an era in Sainsbury’s history that would see it thrive having merged with long-time rival, Asda. Coupe spoke boldly about price cuts and cost savings, and finished with a [...]
Defence secretary Gavin Williamson ousted from cabinet over Huawei security leak May 1, 2019 Defence secretary Gavin Williamson has been fired from the cabinet after an investigation into the leak of details of a National Security Council (NSC) meeting discussing Chinese tech firm Huawei. Prime Minister Theresa May wrote in a letter released today that "no other credible version of events to explain this leak has been identified". Read more: [...]
Labour party launches investigation into move to oust London Assembly member May 1, 2019 The Labour party is investigating alleged irregularities in an attempt by Jeremy Corbyn supporters to oust one of the only two black members on the London Assembly. Florence Eshalomi, the London Assembly member for Lambeth and Southwark, is facing a fight to retain her seat after Labour party members narrowly voted by 88 votes to 81 [...]
UK is ‘nesting a dragon’ by allowing Huawei equipment in 5G network May 1, 2019 The UK will be ‘nesting a dragon’ if it allows Chinese tech firm Huawei to participate in its 5G network, a senior Tory MP has warned. Last week it emerged the government will give the green light for Huawei’s equipment to be used in non-core parts of the network, despite warnings from spy bosses over [...]
US stocks rise as ‘productive’ China trade talk round ends May 1, 2019 US stocks have climbed higher after markets opened following the end of another round of trade talks between the United States and China that treasury secretary Steven Mnuchin called “productive”. Mnuchin flew to Beijing on Tuesday with US trade representative Robert Lighthizer to hold discussions with their Chinese counterparts. Mnuchin today tweeted: “Ambassador Lighthizer and [...]
Facebook ditches blue design as CEO Mark Zuckerberg throws focus on privacy May 1, 2019 Facebook has ditched its trademark blue banner as it re-centres its tools around privacy following a year dogged by data scandals. Chief executive Mark Zuckerberg last night revealed plans to up his social network's focus on private messaging and groups, with a raft of redesigned features to pivot the platform towards a more private experience. [...]
Crossrail’s 2021 delay to cost TfL an extra £1bn in lost revenue, says Moody’s May 1, 2019 The delay to Crossrail until 2021 will cost Transport for London (TfL) £1bn in lost revenue, according to influential rating agency Moody's. The £1bn figure is between £300m-£400m more than TfL had forecasted in its 2018 business plan, published after the announcement in the summer that the £17.6bn railway would not open that December as planned. Read [...]
Jeremy Corbyn described antisemitic book as a ‘great tome’ May 1, 2019 Jeremy Corbyn is embroiled in another antisemitism row after it emerged he wrote the foreword to a book suggesting finance in Europe was controlled by Jews. Corbyn described JA Hobson's 'Imperialism: A Study' – originally published in 1902 – as a "great tome" when it was reissued in 2011. The book claims banking on the [...]