Pound jumps after Britain and EU agree draft text for political declaration on future ties after Brexit November 22, 2018 The pound has jumped this morning following the news that the European Commission and UK negotiators have agreed a declaration on the future relationship between the two sides after Brexit. Reuters reported an EU official as confirming that the draft declaration had been agreed. It will now be inspected by national envoys of the remaining [...]
DEBATE: As shares continue to tumble, could this be the beginning of the end for Apple? November 22, 2018 As shares continue to tumble, could this be the beginning of the end for Apple? Fiona Cincotta, senior market analyst at City Index, says YES. The easy money momentum trade on Apple looks to be well and truly over. As Apple heads into bear market territory and innovations are lacking, the future is looking less rosy for [...]
UK’s customs system would not work properly for two years in no-deal Brexit, MPs told November 21, 2018 A 'no deal' Brexit would see the UK without a fully functioning customs system for two years, MPs were told on Wednesday. Senior officials from HM Revenue & Customs told the Treasury committee the moment to start planning for the talks collapsing passed months ago" in a sobering warning. MPs heard the UK would struggle [...]
Facebook to appeal £500,000 fine over Cambridge Analytica scandal November 21, 2018 Facebook will appeal a £500,000 fine handed down by the information commissioner for its role in the Cambridge Analytica scandal. The social media giant claimed that the data watchdog found no evidence that UK Facebook users were impacted by Cambridge Analytica, and the fine was therefore unjustified. The Information Commissioner’s Office (ICO) imposed its maximum [...]
Labour could form minority government without a general election, says John McDonnell November 21, 2018 Shadow chancellor John McDonnell has said Labour could form a minority government without a general election if Theresa May's Brexit deal is voted down in parliament. His comments mark a change of tack for the Labour leadership, which has been arguing for a fresh general election in the face of Brexit uncertainty. Speaking at a [...]
Theresa May heads to Brussels to finalise Brexit deal with EU officials ahead of European leaders summit November 21, 2018 Theresa May will head to Brussels today to meet with European Commission president Jean-Claude Juncker in a bid to finalise a Brexit deal ahead of an EU leaders summit on Sunday. Last week’s publication of a draft agreement sparked outrage among MPs and led to the resignations of Brexit secretary Dominic Raab and work and [...]
Facebook’s Zuckerberg brushes off resignation calls over Definers scandal November 21, 2018 Facebook founder Mark Zuckerberg has fought back against calls for the social media giant to change up its leadership, as requests for resignation letters mount against both him and Facebook operations chief Sheryl Sandberg. Zuckerberg rejected renewed criticism against the company in an interview with CNN late last night, where he took it upon himself to defend [...]
DUP is still propping up Theresa May despite going missing in Budget votes, insists Downing Street November 21, 2018 Downing Street has insisted the DUP is still propping up Theresa May's government despite the party’s MPs voting against the Budget on Monday. A confidence and supply agreement struck after last year's election sees the DUP order its 10 MPs to support the Conservatives in Parliament in exchange for an extra £1billion on public spending in Northern Ireland. [...]
Sadiq Khan raises ‘serious concerns’ over Crossrail’s transparency and governance in letter to spending watchdog November 21, 2018 London mayor Sadiq Khan has said he has "serious concerns" about the "transparency and effectiveness of Crossrail's governance" following the fallout from the delay to the £15.4bn project. In a letter to the National Audit Office (NAO), seen by City A.M., Khan said that while joint sponsors Transport for London (TfL) and the Department for Transport (DfT) [...]
Sugar tax raises £154m but the government warns more must be done November 21, 2018 The sugar tax on soft drinks has raised £153.8m since it came into force in April, the government has said. The levy was rolled out seven months ago to help tackle childhood obesity, with revenue used to fund physical education in primary schools. The figure is less than half the original amount estimated when the tax was [...]