Patchy regulation prevents the world from reaping the full benefits of the markets September 25, 2018 Ten years ago today, the world woke to the news that yet another bank had collapsed. Washington Mutual was the latest casualty in what became the worst financial crisis since the Great Depression. Those events have cast a long shadow. Governments, businesses, and households have had to tackle the legacy of that crisis. As [...]
Keir Starmer: Labour won’t back Tory Brexit deal September 25, 2018 Labour plans to vote against a Theresa May Brexit deal, as the party attempts to define its position on backing a second referendum. Claiming the Prime Minister’s Brexit negotiations “are in a complete mess”, shadow Brexit secretary Sir Keir Starmer called for a general election if she fails to reach a deal or if a [...]
An election is the last thing we need – and voters would punish politicians for calling it September 25, 2018 Theresa May’s Brexit negotiations with the European Union are going very, very wrong, and there is now speculation that the UK could be heading for a snap election — cue eyerolls and yawns nationwide. Both the ruling Conservatives and opposition Labour party appear to be considering the possibility of a snap election as early [...]
Instagram’s co-founders quit their social media app September 25, 2018 Instagram’s co-founders are leaving the firm. Kevin Systrom and Mike Krieger are stepping down six years after Facebook bought their social media app for $1bn (£760m). The photo-sharing behemoth today boasts more than 1bn users, up from 30m at the time Facebook bought it, but the co-founders’ departure follows rumours of tensions between them [...]
Competition watchdog says proposed minicab cap would lead to fare hikes for Londoners September 24, 2018 The competition watchdog has criticised proposals to grant councils the power to cap the number of minicabs in the capital following a plea last month by London mayor Sadiq Khan. The Competition and Markets Authority (CMA) was responding to a government-commissioned review into taxi and PHV licensing after stakeholders suggested that current legislation was no longer fit for purpose. [...]
Theresa May says she trusts President Donald Trump despite Iran sanctions September 24, 2018 Prime Minister Theresa May has stood by the UK's special relationship with the US despite Donald Trump's decision to take his country out of the Iran nuclear deal, insisting she continues to have trust in the President. "Of course I listen to what the American president tells me," May replied when asked if she trusts Trump [...]
John McDonnell accused of a ‘wilful misunderstanding of business’ after radical conference speech September 24, 2018 One of the UK's biggest business groups pleaded with Labour not to see enterprise as "the enemy" after shadow chancellor John McDonnell delivered a radical speech at his party's conference. The Institute of Directors, which represents companies across the UK, urged McDonnell to abandon "sweeping measures and angry rhetoric" as he used a [...]
Jacob Rees-Mogg tells businesses to stop living in ‘cloud cuckoo land’ over Brexit September 24, 2018 Leading Brexiteer Jacob Rees-Mogg has called on businesses to stop living in "cloud cuckoo land" and accept Brexit will mean changes to how they operate. The Conservative MP was backed up by former Brexit secretary David Davis, who claimed top firms such as BMW should be able to cope with extra hours delays at [...]
DEBATE: Could Donald Trump’s trade war be a positive force in reining in Chinese dominance? September 24, 2018 Could Donald Trump’s trade war be a positive force in reining in Chinese dominance? Alastair Benn, news editor of Reaction, says YES. Two centuries ago, the world experienced something historians call “the Great Divergence”. Pre-nineteenth century, America, Europe, China, and India formed an equilibrium at the heart of the global economy, taking up roughly [...]
How to turn the Chequers rat into a lovable Brexit hamster September 24, 2018 It has been said that a rat just is a hamster with a PR problem. Both share many of the same fundamental characteristics – but one people want to look after, and the other they want to kill. Since its uneasy formation, Theresa May has hoped that her Chequers plan could become the Brexit [...]