Theresa May: We’ll prioritise skilled immigration after Brexit October 2, 2018 Theresa May plans to prioritise immigrants’ skills, rather than their country of origin, in a post-Brexit shake-up of the visa system. The Prime Minister will focus on tackling low-skilled immigration and place more value on those with skills desirable to British businesses, following a recommendation from the Migration Advisory Committee (Mac). Read more: 'Frictionless' immigration [...]
Former House of Fraser directors dismissed amid calls for an investigation October 1, 2018 The former directors and senior management of House of Fraser have been dismissed following the department store's collapse. Sports Direct, which bought the beleaguered high street chain for £90m in August, announced that it has sacked the former top team amid calls for an investigation into the company's spiral into administration. Read more: Mike Ashley blames landlords [...]
Addison Lee says Sadiq Khan’s congestion charge plans could cost it £4m a year October 1, 2018 Addison Lee has said Sadiq Khan's plans to remove the congestion charge exemption for private hire taxi companies could cost it £4m a year. Uber rival Addison Lee has commissioned research that suggests levying a congestion charge on minicabs in London would make the capital more congested and polluted. Read more: London Assembly votes against Sadiq [...]
Philip Hammond says Tories are the ‘party of business’ as he takes the fight to Jeremy Corbyn October 1, 2018 Philip Hammond tried to paint the Conservatives as the "party of business" today as he launched a sustained attack on the Labour Party's plans for the economy. Speaking at the Tory conference in Birmingham, the chancellor urged his party to put on a united front to defeat Jeremy Corbyn – arguing Labour's plans would threaten [...]
Tesla shares bounce back after Elon Musk agrees to step down as chairman October 1, 2018 Tesla shares have jumped over 16 per cent following a backlash last week over the company's $40m (£31m) fine from the US Securities and Exchange Commission (SEC). Musk has been pursued by the SEC over a tweet he sent in August saying he has secured funding to take Tesla private at $420 per share. The SEC said [...]
Oil prices hit four-year high as markets await US sanctions on Iran October 1, 2018 Oil prices hit a four-year high this morning as the market reacted to ongoing uncertainty over US sanctions on Iran. Brent crude – considered the international benchmark – rose almost half a per cent to $83.09 (£63.70) per barrel in early trading, after rising as high as $83.32. Read more: Iranian foreign minister claims country [...]
Brexit secretary says Chequers plan is not ‘perfect’ as he urges Tories to back the proposal October 1, 2018 Brexit Secretary Dominic Raab today admitted the Prime Minister's EU negotiating plan is not perfect as he appealed to his fellow Tories to back the so-called Cheques proposal. Speaking at the Conservative Party conference in Birmingham, Raab claimed eurosceptics would have "bitten my arm off" before the 2016 referendum for the deal he and other [...]
May’s stamp duty tax on foreign buyers forces down FTSE developers’ share prices October 1, 2018 More than half a billion pounds was wiped off the value of some of the UK’s largest housebuilders today, as the City digested news of Theresa May’s planned property tax on foreign buyers. Shares in Berkeley Group, Barratt Developments and Taylor Wimpey all slid in the wake of the Prime Minister’s weekend announcement to slap [...]
DEBATE: Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? October 1, 2018 Is Elon Musk’s erratic behaviour just the price we need to pay for brilliant entrepreneurs? Kathy Gromotka, associate at Downing Ventures, says YES. We back entrepreneurs because we buy into their desire and ability to behave in a way that creates value, whether they’re a star in the spotlight or operating in stealth mode. Elon [...]
How London can fend off the European hotspots vying for its fintech crown October 1, 2018 Flash back to the immediate aftermath of the Brexit vote. “London has committed suicide as a leading fintech centre,” tweeted Traxpay, a German payments platform. Catchy advertising urged startups to “keep calm and move to Berlin”. Read more: Meet the startups in the Treasury-backed Tech Nation fintech accelerator Over two years later, and it’s French [...]