TUC head warns MPs of ‘serious risk of civil unrest’ in event of no-deal Brexit September 3, 2019 Frances O’Grady, general secretary of the Trades Union Congress (TUC), has written to MPs asking them to do everything in their power to prevent a “catastrophic” no-deal Brexit. “A no-deal Brexit would be a disaster for working families,” she wrote. “The prime minister has no mandate to force a catastrophic no-deal Brexit on the country.” [...]
Panicked investors flock to government bonds as yields hit record low September 3, 2019 Investors are piling into UK government bonds in an attempt to seek safety amid ongoing political turmoil, pushing the yield on 10-year gilts down to a record low. The yield on 10-year gilts – effectively the interest rate investors receive – fell to 0.37% this morning. Read more: ‘Uncharted waters’: Sterling hits 34-year low as [...]
Brexit prep has cut productivity of UK business, says Bank of England August 30, 2019 The Brexit process has cut the productivity of UK companies by between two and five per cent, research by the Bank of England has found. Much of this drop since the vote to leave the European Union in 2016 is due to falls in businesses’ productivity as managers dedicate several hours per week to Brexit [...]
‘Get ready’: Michael Gove to launch £100m no-deal Brexit ad campaign August 30, 2019 Michael Gove, the minister in charge of preparing for a no-deal Brexit, is set to launch a £100m advertising campaign urging people and businesses to “Get ready” for Britain leaving the EU without a deal on 31 October. The campaign, which has been described as the biggest advertising drive since the Second World War, will [...]
As protests raged, China ‘rejected’ Hong Kong leader Carrie Lam’s plan to appease citizens August 30, 2019 China reportedly rejected a proposal from Carrie Lam, the head of Hong Kong’s government, this summer to withdraw a controversial extradition bill in a bid to ease tensions in the territory. The Chinese central government also ordered her not to yield to any of the protesters’ other demands, according to Reuters. Read more: Hong Kong [...]
Hong Kong protests: Joshua Wong and Agnes Chow charged as China clamps down August 30, 2019 Two prominent pro-democracy activists in Hong Kong have been charged with unlawfully organising a public meeting outside police headquarters as the authorities continue a crackdown on ongoing political protests. Joshua Wong and Agnes Chow, who had been arrested earlier on Friday, were both released on bail, with their case adjourned until November. Read more: Joshua [...]
FTSE edges higher as relief over deflating trade war tensions sinks in August 30, 2019 Britain’s FTSE100 stock index nudged higher this morning as a relief rally over China deflating trade war tensions entered a second day. The blue-chip index was given a further boost by a continued slide in the pound’s value, which helped to boost exporters. China’s foreign ministry said this morning that it was continuing to hold [...]
Hargreaves Lansdown drops Burford Capital after Muddy Waters short attack August 30, 2019 Hargreaves Lansdown has sold its holdings in Burford capital following a short attack on the litigation funding firm by US short-seller Muddy Waters earlier this month. The investment supermarket has dropped Burford from its Select UK Growth, Select UK Income and Select Global funds, said fund manager Steve Clayton in a statement on Hargreaves’ website. [...]
Poor broker performance reviews leaving fund managers in the dark August 30, 2019 Fund managers may not know how much money they are spending with brokers thanks to a failure to properly review the relationships, a new study has found. Despite the majority having procedures to review broker relationships in place, only 11 per cent of fund managers actually assess how all their brokers are performing, according to [...]
Google uncovers ‘indiscriminate’ iPhone hack attack lasting years August 30, 2019 Google security researchers say they have found evidence of a “group making a sustained effort” to hack iPhones over at least two years. The researchers found a number of websites being used to launch “indiscriminate” attacks on iPhones when visited. The team estimated the sites were visited “thousands of visitors per week”. Read more: Apple [...]
