Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
EU digital tax could be agreed by March, says French finance minister Bruno Le Maire January 20, 2019 The European Union could reach an agreement on details of a digital tax by the end of March, the French finance minister has said. Talks among EU ministers aimed at aligning the taxation of online businesses broke down in December. A number of smaller member states, including Ireland, Sweden and Denmark, opposed the plan and [...]
Labour loses up to 150,000 members over its stance on Brexit January 20, 2019 The Labour party's stance on Brexit has prompted the exodus of about 150,000 members in recent months, according to reports. Labour sources told the Sunday Times that up to 100,000 are also not up to date with their subscriptions and enrolment is floundering at 385,000. The losses have reportedly cost the party £6m. A Labour source [...]
Theresa May faces trying week in parliament as MPs plan to delay Brexit January 20, 2019 Theresa May will update MPs on her Brexit plan B on Monday amid open warfare in her own party over how to break the deadlock in parliament. She will also table a motion that will be debated and voted on 29 January. The Prime Minister is believed to be focusing her efforts on winning over [...]
Angela Merkel calls for greater military cooperation in EU ahead of European elections in May January 19, 2019 Angela Merkel has said the European Union should cooperate more in developing weapons systems in a bid to push back against a growing wave of euroscepticism before the European parliamentary elections in May. The German Chancellor said her country may need to make compromises on strict export controls. Read more: German politicians including Chancellor Angela Merkel [...]
Donald Trump to hold second summit with Kim Jong Un in February to continue denuclearisation discussion January 19, 2019 Donald Trump will hold a second summit with North Korean leader Kim Jong Un in late February having held a meeting with the country’s top nuclear negotiator on Friday. The US president met with Kim Yong Chol, a hardline former spy chief, to continue the denuclearisation effort that had stalled since the first meeting between [...]
John Major urges Prime Minister May to ditch red lines on Brexit negotiations January 19, 2019 Former Conservative prime minister John Major has urged Theresa May to drop her so called red lines on Brexit negotiations and let parliament find a way to avoid a no deal scenario. Major said: “Her deal is dead and I don’t think honestly that tinkering with it is going to make very much difference if [...]
Customs union compromise could open the door to renewed talks on Brexit, says commissioner January 19, 2019 Britain could clear the way to reaching an agreement on the Brexit deal if it rows back on a commitment to leave the EU’s customs union, according to a senior commissioner within the bloc. Prime Minister Theresa May is still in a stand-off with opposition Labour leader Jeremy Corbyn, halting her last minute bid to [...]
Tulip skyscraper plans hit fresh problems as City Hall planners claim proposal breaches regulations January 18, 2019 Plans to build the Tulip skyscraper in the City could be nipped in the bud after City Hall officials said the proposals would breach Sadiq Khan’s planning regulations. Developers plan to build the dramatic 305-metre viewing attraction dubbed ‘The Tulip’, which would be built alongside The Gherkin in the heart of London’s financial district. Read [...]
CEO Elon Musk reveals plan to slash Tesla headcount as electric car firm targets “tiny profit” January 18, 2019 Tesla is set to cut its workforce by around seven per cent, sending shares down in pre-market trading. Chief executive Elon Musk told staff that the company has "no choice" but to reduce its full-time employee headcount after growing unsustainably large. Read more: US billionaire reveals significant stake in Tesla Musk also blamed squeezing margins at [...]