Britain seeks G7 consensus on big tech company dominance February 26, 2021 Britain is seeking to build a consensus among G7 nations on how to stop large technology companies exploiting their dominance. Following Facebook’s row with Australia, Britain is seeking a consensus among the G7 nations that will “bridge the gap between what [tech companies] say they do and what happens in practice,” digital minister Oliver Dowden [...]
PM says remote working won’t be the new normal February 26, 2021 PM Boris Johnson said Britain is not facing a new age of remote working. In a video message today Johnson said British people would be “consumed again” by wanting to meet people in person once the economy reopens, and that this would have clear benefits for business. He added people will be commuting to city [...]
US distances itself from Saudi Arabia as White House mulls arms restrictions, Khashoggi sanctions February 26, 2021 The Biden administration is recalibrating its relationship with Saudi Arabia, one of the United States’ closest allies in the Middle East. A State Department official reportedly told congress earlier today that it will be announcing new sanctions on Saudi Arabia in response to the killing of Saudi journalist Jamal Khashoggi. The Biden administration also declassified [...]
UK bonds suffer biggest monthly fall in years February 26, 2021 UK bond prices recorded their sharpest fall in years this month, as investors bet on a rebound in growth and possibly inflation. The fall comes just days before the budget, in which Chancellor Rishi Sunak will set out his economics plans for the UK. The month’s sharp declines largely reflect a global sell-off led by [...]
Johnson & Johnson reports severe allergic reactions after Covid-19 jab February 26, 2021 A Johnson & Johnson researcher said today that the company has received preliminary reports of two cases of severe allergic reactions in people who had received the company’s Covid-19 vaccine, including one case of anaphylaxis. Dr Macaya Douoguih, head of clinical development and medical affairs at the Johnson & Johnson unit Janssen Pharmaceuticals, said the [...]
British family sells $10m Van Gogh to avoid rise in capital gains tax February 26, 2021 A British family are selling a Vincent Van Gogh drawing for a record breaking $10m (£7.1m) to avoid a potential rise in capital gains tax in next Wednesday’s budget. Thomas Gibson, a London art dealer, and his three sons have decided to sell the Van Gogh alongside seven other works, including art by Lucian Freud [...]
HSBC to cut jobs in London-based equities team February 26, 2021 HSBC plans to cut jobs in its London-based equities division, in a further shake up to the UK office. In the last two days, the holdings company informed staff of its plans to make cuts to the London equities team, Financial News first reported. The job cuts are part of HSBC’s ongoing restructuring work, first [...]
Chancellor set to launch tech visa following Kalifa review February 26, 2021 Chancellor Rishi Sunak is set to launch a fast-track visa programme for tech workers following proposals set out by the Kalifa review into the industry. Speaking to the Financial Times Sunak said the scheme would help “scale up” the industry, saying the new visa stream would be a “calling card for what we are about”. [...]
Drug traffickers jailed for smuggling $32m cocaine haul in yams February 26, 2021 Two men were sentenced to 36 years combined in prison today for their attempt to smuggle cocaine worth £32m into the UK in 2016. A National Crime Agency (NCA) investigation found that Juan David Perea Lopez, 26, of New Cross, London, and Bashar Fares Al-Safee, 31, from North Kensington, London, arranged to import 400kg of [...]
London to lose out to New York under draft EU financial services agreement February 26, 2021 The City of London’s finance industry would be worse off than New York under an early draft for a cooperation agreement in financial services between Britain and the EU. An early draft of the memorandum of understanding (MoU), first seen by Reuters, has less substance than a deal the EU agreed with the United States [...]
