City of London’s biggest competition post-Brexit will not be EU, says Raab February 14, 2021 The UK’s financial services industry will face its biggest post-Brexit competition from Asia and the US, according to foreign secretary Dominic Raab. Raab said EU financial capitals may “nick a bit of business here and there from the City”, but that they will not challenge London’s status as Europe’s global financial capital. It comes as Amsterdam [...]
Government must re-engineer the economy for a new way of working February 14, 2021 The Bank of England predicts the UK economy will recover rapidly from the Covid-19 shock, as vaccines are rolled out across the country. But might a vaccine-resistant mutation and a failure to bring workers back to offices with sufficient speed scupper such optimistic forecasts? The threats are real and worth considering. The chance of a [...]
Advisory firm Teneo moves in on Deloitte’s restructuring arm February 13, 2021 Deloitte is said to be preparing a sale of its restructuring arm to PR and advisory giant Teneo, marking a further shake-up of Britain’s Big Four audit firms. Teneo, which is backed by private equity group CVC Capital Partners, is in advanced talks to snap up the Deloitte unit that specialises in business insolvencies, Sky [...]
Trump impeachment: Trial extended after Senate votes to call witnesses February 13, 2021 The impeachment trial of former US President Donald Trump has been extended after the Senate voted to allow witnesses. The decision came after it emerged that Trump told a top Republican during the assault on the Capitol that the rioters were “more upset” about his election defeat than politicians. The vote, which passed 55-45 in [...]
Covid-19: Boris Johnson ‘optimistic’ lockdown can be eased soon February 13, 2021 Prime Minister Boris Johnson today said he was optimistic he would be able to announce the easing of some Covid-19 lockdown measures soon as the UK’s vaccine rollout continues at pace. The prime minister, who will unveil his “roadmap” for ending the lockdown on 22 February, said he would prioritise aims to reopen schools from [...]
Vivendi plots €30bn stock market listing for Universal Music Group February 13, 2021 Vivendi is planning to list Universal Music Group and distribute 60 per cent of its capital to investors by the end of the year as it looks to cash in on the rising value of music assets. The French media group today said it has set a minimum target of €30bn (£26bn) for the listing, [...]
Super Mario’s back: Former ECB boss Draghi sworn in as Italian prime minister February 13, 2021 Mario Draghi, former head of the European Central Bank (ECB), has been sworn in as the new prime minister of Italy. Draghi has taken the reins as the head of a unity government formed after the coalition government led by Giuseppe Conte collapsed last month. Following weeks of talks, all but one of Italy’s main [...]
Covid-19: Oxford extends vaccine study to children in world first February 13, 2021 Children as young as six will be given the vaccine developed by the University of Oxford and Astrazeneca as part of a world-first trial to test the efficacy of the jab in young people. Researchers will enrol 300 volunteers to assess whether the coronavirus vaccine produces a strong immune system response in children and young [...]
Bytedance in talks over sale of Tiktok assets in India after ban February 13, 2021 The Chinese owner of Tiktok is said to be in talks over a sale of its Indian assets to rival Glance after the viral video app was banned in the country. The discussions between Bytedance and Glance, which were initiated by Softbank, are complex and in early stages, Bloomberg reported. Google-backed Glance serves news and [...]
High street redundancies: Which retailers have cut jobs in the pandemic so far? February 13, 2021 Thousands of high street jobs have evaporated during the coronavirus pandemic, as retail chains have fallen under the pressure of lockdown restrictions on trading. The UK high street, which was already struggling before the pandemic, is set to look very different when shoppers return after lockdown following high profile collapses that have cost many retail [...]
