Lords committee: UK and EU both to blame for Northern Ireland Protocol mess July 29, 2021 A House of Lords committee has laid the blame for the mess around the Northern Ireland Protocol at the feet of both the UK and the EU, urging the two to come to a compromise solution. The Lords’ European Affairs Committee report into the protocol said Brussels needed to implement the protocol in a more [...]
US scientists: China is developing its nuclear force with a second base July 28, 2021 Researchers in the US said they have gathered evidence that China is expanding its ability to store and launch missiles, amid concerns it is amassing more nuclear capacity. China is building 250 silos for nuclear missiles in “the most significant expansion of the Chinese nuclear arsenal ever,” according to a new report from the Federation [...]
Fed says US economy has ‘made progress’ but holds rates at near-zero July 28, 2021 The Federal Reserve deems the US economy to be “strengthening” despite rising coronavirus cases, but not so much that it feels ready to wind down its economic support policies. In a new policy statement released on Wednesday following its two day meeting, the US central bank said: “With progress on vaccinations and strong policy support, [...]
Global ETF boom continues with record inflows in first half of the year July 28, 2021 Global exchange traded funds (ETFs) attracted record inflows in the first six months of 2021, as investors poured in amid low interest rates, an equities rally and “cheap money” lending. Investors worldwide ploughed $639.8bn into ETFs between January and June, a half year record and more than double that of the same period last year, according [...]
Morgan Stanley boosts pay for junior bankers worldwide July 28, 2021 Morgan Stanley has raised base salaries for entry-level bankers in its investment banking and global capital markets division, following in the footsteps of Wall Street rivals. The US Investment bank has hiked base pay to $100,000 for first-year bankers and a minimum of $105,000 for second years, according to people with knowledge of the matter. [...]
US stocks open flat as investors await outcome of Fed meeting July 28, 2021 US stocks were broadly flat on Wednesday morning as investors held off from making any sudden moves until the Fed announces the outcome of its latest round of talks. The blue-chip S&P 500 inched up 0.02 per cent to 4,404 during opening trading, while the Dow Jones lost 0.12 oer cent. The Nasdaq led the [...]
Tough hill to swallow: New £2m Marble Arch Mound widely panned July 28, 2021 Refunds are being offered to visitors of the new £2m Marble Arch Mound tourist attraction in central London, after a slew of poor reviews and online criticism. The new attraction, which is supposed to give panorama views of central London, has been widely panned on social media and has been compared by some to a [...]
Contenful now worth $3bn after fresh capital rally ahead of rumoured US IPO July 28, 2021 Content platform provider Contentful, led by a former Microsoft and Amazon executive, has hit a valuation of $3bn today after its latest funding round. The fundraiser, led by investment giant Tiger Global, rallied together $175m for its expansion into marketing and sales. The German company, founded in 2012, operates content management systems behind websites like [...]
Barack Obama joins NBA’s African arm as strategic partner and minority shareholder July 28, 2021 The National Basketball Association (NBA) has announced that former US president Barack Obama has joined its new African arm as a strategic partner. The 44th President of the United States will also own a minority stake in NBA Africa, which officials say he intends to use for Obama Foundation projects across the continent. Obama will [...]
Travel industry welcomes end of quarantine for double-jabbed EU & US citizens but concerns remain July 28, 2021 Airlines and travel firms today hailed the news that the UK will drop quarantine requirements for fully vaccinated travellers from the EU and US next week but warned more changes were needed. Industry body Airlines UK said: “Exemptions for all fully vaccinated travellers is undoubtedly a positive move, offering a lifeline for thousands of businesses [...]
