WTO gives green light for US to impose tariffs on $7.5bn EU imports October 14, 2019 The World Trade Organisation (WTO) has formally given the nod to the US to impose tariffs on up to $7.5bn of imports of EU goods, after an arbitrator’s decision over subsidies to plane maker Airbus. The WTO’s dispute resolution body, made up of delegates from its 164 members, cleared Washington to hit back against the [...]
Queen’s Speech plots path for pensions dashboards and new regulatory powers October 14, 2019 The government has today laid the groundwork to bring in new laws on pensions dashboards and give fresh powers to The Pensions Regulator. The Queen’s speech confirmed the government’s intention to legislate to force pension schemes to provide data for the dashboard scheme. This will eventually allow people to keep track of funds accumulated in [...]
Former Thomas Cook executives to face grilling from MPs after collapse October 14, 2019 Thomas Cook bosses will be hauled in front of MPs tomorrow morning and forced to explain the firm’s catastrophic collapse, which left 150,000 Brits stranded abroad and forced the biggest peacetime repatriation in history by the British government. Chief executive Peter Fankhauser will answer questions from the Commons’ business select committee, in the first evidence [...]
Sophos shares jump as it announces £3bn US private equity buyout October 14, 2019 Cyber security group Sophos shares spiked this morning as it announced it is to be bought out by a US private equity firm, in a deal that values it at £3.1bn. Thoma Bravo said this morning it would take Sophos private, as it dives deeper into the booming cyber security sector. Read more: Sophos share [...]
Oil prices fall amid uncertainty over US China trade deal October 14, 2019 Oil prices fell this morning amid uncertainty over the first phase of a trade deal between the US and China. Markets were lifted two per cent by optimism over a thaw in the frosty relations by the end of last week, but Brent Crude was down 1.11 per cent this morning, valued at $59.84 per [...]
Ferrexpo ‘closely monitoring’ situation after Ukraine bids to put boss on wanted list October 14, 2019 Directors at mining giant Ferrexpo this morning said they are “closely monitoring” a Ukrainian bid to put their chief executive on the international wanted list. Prosecutors named Kostyantin Zhevago as a suspect in absentia, after he allegedly failed to turn up for questioning about his former company. Over the weekend, Ferrexpo sources declined to say [...]
Exclusive: Outsourcers told Michael Gove no-deal Brexit planning is stalling industry October 10, 2019 Whitehall has come under pressure from some of its most prominent public service providers for slow decision-making, as time and resources are increasingly directed towards no-deal Brexit planning. Three sources with knowledge of the matter told City A.M. that de facto no-deal Brexit secretary Michael Gove has been urged to “get a move on” so [...]
Renault board ‘to discuss chief executive’s future’ tomorrow October 10, 2019 Renault chief executive Thierry Bollore is said to have avoided the matter of his potential exit from the firm in a conversation with staff today. The car maker’s board are due to meet tomorrow to discuss a potential management shake-up. Le Figaro newspaper reported that chairman Jean-Dominique Senard was poised to kick off a process [...]
National Grid: Britain’s power supplies will see out the winter despite Brexit October 10, 2019 Britain will have enough power and gas to see out the winter even with Brexit, but could need regular supplies of liquefied natural gas (LNG). The UK is set to leave the EU at the end of this month but the terms are still unclear. Read more: National Grid calls for security review following massive [...]
UK recession fears ease as quarterly GDP growth beats Brexit concerns October 10, 2019 Fears of a Brexit-fuelled UK recession in the immediate future have eased, despite Britain’s economy shrinking 0.1 per cent in August. That is because Britain’s estimated GDP grew 0.3 per cent in the last three months, according to Office for National Statistics monthly data. Read more: New IMF chief Kristalina Georgieva says trade wars to [...]
