Wall Street: Bulls run again as S&P 500 climbs 20 per cent above October low June 9, 2023 Stocks rose just enough for Wall Street to barrel into a new bull market on Thursday as the S&P 500 keeps rallying off its low from last autumn. The index rose 0.6 per cent to carry it 20 per cent above a bottom hit in October. That means Wall Street’s main measure of health has [...]
Expensive repairs and second-hand car costs push motor claims to record £2.4bn in first quarter June 9, 2023 A record £2.4 billion was paid out in motor claims in the first quarter of this year as firms find surging costs increasingly challenging to absorb, according to the Association of British Insurers (ABI). More expensive vehicle repairs, rising second-hand car costs and longer repair times are among the challenges faced by insurers, although there [...]
London bias ‘baked into’ system as MPs warn UK can no longer ‘fly blind’ on attracting foreign investment June 9, 2023 The Government is not doing enough to encourage foreign investment into areas of the UK outside London and the South East, MPs have warned. An economic bias remains “baked into” the system, leaving barriers to the levelling up agenda, the Commons Public Accounts Committee said. The group has told the newly formed Department for Business [...]
Donald Trump: Former President charged over mishandling classified documents June 9, 2023 Former US President Donald Trump said he has been indicted on charges of mishandling classified documents at his Florida estate. The Justice Department did not immediately publicly confirm the indictment which would ignite a federal prosecution and provide arguably the most perilous of legal threats against the former president. US media outlets said the indictment [...]
JP Morgan and Morgan Stanley review prime broking ties with Odey Asset Management June 8, 2023 JPMorgan and Morgan Stanley are reviewing their prime broking relationships with Odey Asset Management after allegations of sexual misconduct and bullying by Crispin Odey reported by the Financial Times and Tortoise Media on Thursday, sources familiar with the matter said.
Hitachi billion-pound deal to buy UK signalling could hurt TfL: regulator June 8, 2023 The UK’s competition watchdog has provisionally ruled that Hitachi’s 1.7 billion euro (£1.36 billion) proposed purchase of Thales’s rail infrastructure could drive up prices and reduce service quality for passengers. The findings could lead to the merger being blocked. The Competition and Markets Authority (CMA) said the deal involves two of the leading suppliers of [...]
In pictures: West Ham fans celebrate first European trophy in 50 years June 8, 2023 Thousands of West Ham fans poured into the streets of Prague as the football club won its first trophy in more than 40 years. Fans danced on tables and kissed each other in pubs across the Czech capital as they watched the Hammers lift the Europa Conference League trophy on Wednesday night. Supporters chanted “2-1 to the cockney boys” as [...]
Housebuilder: Truss mini-budget bruised consumer confidence – and cost us sales June 8, 2023 Property developer Crest Nicholson has reported shrinking sales amid “rapidly” falling consumer confidence and rising borrowing costs, following the September mini-budget. The firm said its revenue fell by more than a fifth to £282.7 million in the six months to the end of April, from £364.3 million the prior year. The decline reflected economic uncertainty [...]
Sunak in DC: Britain to host AI summit amid creators’ ‘nuclear war’ risks June 8, 2023 The UK will host the first global summit on artificial intelligence (AI) safety, Rishi Sunak announced ahead of talks on the issue with Joe Biden. The summit, which will be held in the autumn, will consider the need for international co-ordinated action to mitigate the risks of the emerging technology. Ahead of Thursday’s meeting with [...]
Boris ‘hosted friend’ at Chequers during lockdown – reports June 8, 2023 Boris Johnson and his wife Carrie hosted a close friend at Chequers in May 2021 for an overnight stay while some Covid-19 restrictions were still in place, according to reports. A spokesman for the former prime minister said that the visit was “entirely lawful”, after The Guardian newspaper reported that events organiser Dixie Maloney stayed [...]
