‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Former Trump campaign manager Paul Manafort to plead guilty to Mueller charges September 14, 2018 US President Donald Trump’s former campaign manager Paul Manafort has agreed to plead guilty to two criminal charges. Manafort will admit two counts in special counsel Robert Mueller’s investigation, one count of conspiracy against the US and another of conspiracy to obstruct justice, Reuters reported today, citing court documents. He previously faced charges of money laundering, [...]
House of Fraser to ‘axe brands’ in Sports Direct strategy rethink September 14, 2018 A number of House of Fraser brands are to be axed as part of a strategy rethink by new owners Sports Direct, it has been reported. Sources told fashion publication Drapers that brands such as Linea, Biba, Issa, Label Lab and Criminal Denim will removed, in line with Mike Ashley's strategy of turning the troubled department store into [...]
Mike Ashley accuses Sports Direct shareholders of ‘stabbing him in the back’ September 14, 2018 Mike Ashley has accused Sports Direct shareholders of stabbing him in the back after the resignation of long-serving chair Keith Hellawell. In a strongly-worded statement, the founder and chief executive officer of the sports retailing giant today criticised shareholders for turning last week's annual general meeting (AGM) into a “media circus”. He said that shareholders had ceded [...]
To win the Brexit prize, ditch Chequers and go back to the drawing board September 14, 2018 In all the confusion and turbulence that has accompanied the negotiations with the EU in recent months, we seem to have forgotten the Prime Minister’s Lancaster House speech, and in particular its important reference to what Theresa May called the Brexit “prize”. That prize must include the ability to improve our own domestic economy: by [...]
RBS boss Ross McEwan ‘withheld information’ from parliament, claims Treasury Committee chair Nicky Morgan September 14, 2018 The chief executive of Royal Bank of Scotland has been accused of "withholding information" when giving evidence to parliament. Ross McEwan told the Treasury Select Committee, including Tory chair Nicky Morgan, back in January that he was not aware of any allegations of criminal activity within the bank's notorious and now-defunct Global Restructuring Group (GRG). [...]
Sadiq Khan and TfL award London businesses £230,000 to reduce congestion in the capital September 14, 2018 Transport for London (TfL) has awarded six businesses more than £230,000 in funding to help them to reduce congestion in the capital by making freight and deliveries more efficient. The businesses, varying from waste collectors to cycle freight, will each receive a slice of the funding, which is a significant increase on the £60,000 that businesses [...]
Editor’s notes: A Cornish hero on 9/11, vegans up the creek with no Padella, and policy is for the many, not the pew September 14, 2018 Everyone remembers where they were when they heard about the 9/11 attacks. For many City workers, the event remains a trauma. Michael Spencer, who had hundreds of staff in the World Trade Center, still turns pale when recalling how he sat in London, watching the news footage, trying to get through on the phones. Remarkably, [...]
Bank of England boss Mark Carney warns house prices could fall by a third in a no-deal Brexit September 13, 2018 The governor of the Bank of England Mark Carney said house prices could crash 35 per cent over three years in the event of a no-deal Brexit in a briefing to cabinet today. Carney said if the UK crashed out of the European Union without a deal, a sharp rise in mortgage rates could torpedo [...]
Round 2… Fight! Trump hits back at JP Morgan boss Dimon September 13, 2018 US President Donald Trump hit back today at JP Morgan boss Jamie Dimon who yesterday said he could beat Trump in a presidential race. Trump tweeted: https://twitter.com/realDonaldTrump/status/1040198906842427392 Dimon, a donor to the Democratic Party, yesterday said he could beat Trump because “I'm as tough as he is, I'm smarter than he is”. Dimon said he [...]
Princesses, stamp duty and the rising tide of indoor swimming pools: The Billionaires’ Row estate agent talks to City A.M. about the changing times on London’s priciest street September 13, 2018 If anywhere is on the front line in the current struggle to sell London’s high-end property, it is The Bishops Avenue, the fabled Billionaires’ Row just north of Hampstead Heath; and if anyone is leading the fight, it is Trevor Abrahmsohn, the area’s legendary estate agent. Through his Glentree agency, Abrahmsohn has over the years [...]