Brexit: Lord David Frost outlines priorities for EU regulations bonfire September 16, 2021 The UK has launched an official review into EU regulation that is still in place in the UK, with Lord David Frost announcing that red tape on things like port services, vehicles and data rights is set to be slashed. Frost, the UK’s defacto Brexit minister, told the House of Lords that the UK had [...]
Piers Morgan set to join new Murdoch-backed TV channel – CityAM : CityAM September 16, 2021 Piers Morgan will join News Corp and Fox News Media for the launch of its new channel early next year after signing a global deal, according to reports. The new channel, touted as a “global TV show”, will air in the UK, the US and Australia on weeknights and cover a wide range of genres, [...]
Chinese Uber rival Didi’s users drop by 30 per cent after US IPO saga – CityAM : CityAM September 16, 2021 Chinese ride-hailing giant Didi has lost 30 per cent of its app’s daily users since its $4.4bn IPO in New York at the end of June, in the latest blow to the company following Beijing’s harsh regulatory crackdown for an alleged data breach. Didi’s average daily users plunged to 10.9m in August from 15.6m in [...]
M&S to close French high street stores after Brexit red-tape September 16, 2021 Marks & Spencer will shut 11 of its French stores because of supply issues with fresh and chilled foods after Brexit. The supermarket said it would close all franchise stores operated with partner SFH in the country by the end of the year. Nine stores at travel hubs would remain open but supply chain problems [...]
Goldman Sachs’ CityFibre rallies £1.1bn in bid to muscle in on BT’s market share – CityAM : CityAM September 16, 2021 Challenger broadband firm CityFibre has rallied £1.1bn in fresh capital in its bid to muscle in on BT’s market share. The London-based company has sold off its £825m stake to Interogo Holdings, the Swiss-based firm that bankrolls Ikea and Abu Dhabi sovereign wealth fund Mubadala, according to The Telegraph. The figure also includes a £300m [...]
Johnson: UK, US and Australia nuclear submarine deal creates ‘inseparable’ partnership September 16, 2021 Boris Johnson has hailed the newly signed UK and US agreement to build Australian nuclear submarines as creating an “inseparable” partnership, which will “accelerate” the creation of a range of cyber and AI-based defence systems. Johnson told MPs today that the agreement will enhance “security” and ensure “regional stability” in the Indo-Pacific in thinly veiled [...]
Asos outlines plans for lower carbon footprint September 16, 2021 Online fashion retailer Asos has set out plans to minimise its impact on the planet over the next few years. Under its Fashion with Integrity (“FWI”) 2030 programme, the company intends to become a verified net zero emissions business and use more sustainable and recycled materials by 2030. Consumers are increasingly concerned with fast fashion’s [...]
Boris Johnson prepares to announce new ministers in day two of reshuffle : CityAM September 16, 2021 Boris Johnson will today announce a swathe of ministerial appointments in day two of his reshuffle, with Penny Mordaunt this morning being moved into a new role as trade minister. Johnson will fill dozens of ministerial roles that sit under the secretary of state in each department, after a dramatic day of changes in the [...]
FCA probes three traders for market abuse around time of Brexit vote September 16, 2021 The Financial Conduct Authority has issued formal warnings to three traders from an unnamed bank who carried out market abuse around the time of the 2016 Brexit vote. The FCA accused the individuals of ‘spoofing,’ a practice where traders place orders on financial assets they do not intend to complete in order to manipulate markets. [...]
Brexit: Lorry driver shortages triggered by lack of EU workers September 16, 2021 Shortages of lorry drivers that are driving the UK economy to a grinding halt are primarily the result of a lack of EU workers due to Covid and Brexit, according to official statistics released today. One in four businesses are struggling to fill roles as a result of a sharp reduction in the supply of [...]
