Eve Sleep shares plummet after investors buy in for a discount in £15m fundraising round December 6, 2018 Mattress retailer Eve Sleep’s shares dropped by as much as 16 per cent this morning after it announced investors were buying shares at a discounted price during a £15m fundraising round. The e-commerce specialist said investors had committed to just under £10m of funding, with fund manager Neil Woodford promising £8m, the company’s chairman Paul Pindar adding £1m, [...]
Space X rocket delivers Christmas dinner to International Space Station astronauts December 6, 2018 Elon Musk's Space X sent a rocket hurtling towards the International Space Station yesterday to bring astronauts their Christmas dinner in orbit. The rocket brought a turkey, helpings of cranberry sauce, candied yams and a fruitcake to allow the crew to enjoy Christmas as they might have back on Earth. The rocket also carried 40 mice [...]
Theresa May: Parliament risks no-deal Brexit if it does not vote for withdrawal agreement December 6, 2018 Prime Minister Theresa May today said if parliament does not vote for her deal next Tuesday it either risked a no-deal Brexit or no Brexit at all. She said the agreement she negotiated with the EU was “a good deal and one that delivers on the referendum.” She said she understood there were concerns from [...]
European Court to rule on Brexit reversal case before MPs vote on deal December 6, 2018 The European Court of Justice will decide if the UK can reverse Brexit alone next week, a day before MPs vote on Prime Minister Theresa May’s deal. The ruling, on a case brought by Scottish politicians, is being pushed through at breakneck speed in time for Tuesday’s vote. Earlier this week a top adviser to the court said [...]
We have paved the way for the next financial crisis December 6, 2018 Optimists believe that the last decade of roiling financial crisis and austerity is behind us, and that current fears of trade war, Brexit, populism, and market crashes are overblown. They hope for a global economy poised for many years of growth, increasing personal wealth and prosperity, and political stability. Sadly, hope is never a strategy. Realists, [...]
Tariff man Trump is the most economically illiterate President in US history December 6, 2018 America and China may have called a truce in the trade war, but nobody seems to have told the President. On Tuesday, Donald Trump tweeted: “I am a tariff man. When countries come in to raid the great wealth of our nation, I want them to pay for the privilege of doing so.” I don’t have [...]
Sir Martin Sorrell fights hard to remain king of adland December 6, 2018 Sir Martin Sorrell channelled his inner Frank Sinatra recently and proclaimed that the success of his new venture S4 Capital would be “the best form of revenge” against WPP. “I want to build the best,” the businessman said of his new advertising outfit, which he previously called a “peanut” in comparison to the global scale [...]
Sadiq Khan slams Westminster Council for pulling out of £80m TfL Oxford Street redevelopment plans December 6, 2018 Sadiq Khan has slashed £80m of funding from Westminster City Council (WCC) for redeveloping Oxford Street, after finding out the council had ditched joint plans with Transport for London for the project in favour of its own £150m proposal. In a letter seen by City A.M., addressed to council leader Nickie Allen, the mayor of [...]
How businesses are busy hedging Brexit risk December 6, 2018 Philippos Kassimatis explains some of the hedging strategies on offer as businesses prepare for March 2019 It was was only last week that Mark Carney said fewer than half the UK’s businesses have initiated contingency plans for a no-deal Brexit, causing alarm throughout Britain’s business and investment community. Looking at the headlines, there is a [...]
Philip Hammond confirms he will borrow more and look at tax changes in ‘no deal’ December 5, 2018 Philip Hammond has confirmed the government would be forced to borrow billions more and consider tax changes to counter the economic impact of no deal. Appearing before the Treasury Select Committee on Wednesday, the Chancellor said the onus would be on the government to keep blood in the veins of the economy as the Bank of [...]