‘Stop Sunak’: Downing Street denies running smear campaign despite fierce attacks from Boris Johnson allies July 13, 2022 Downing Street this afternoon denied running an anti-Rishi Sunak smear campaign as Boris Johnson’s allies singled out the former chancellor for criticism in an increasingly bitter leadership contest. The caretaker Prime Minister’s press secretary insisted on Wednesday that Johnson is “staying neutral” despite his remaining loyalists throwing their support behind Liz Truss. Sunak, who currently [...]
UK startup firm Codebase to receive £42m in public money to launch network of tech hubs July 13, 2022 A British tech company is being given up to £42m from the Scottish Government to create a network of tech industry hubs. Codebase is being given the contract, which is described as one of the government’s largest ever investments in entrepreneurship. The hubs are designed to allow start-up businesses to scale up and access advice [...]
Ex-Nationwide chairman emerges as leading contender for Bank of England watchdog role July 13, 2022 Former Nationwide chairman David Roberts has emerged as the frontrunner to lead the Bank of England's oversight board, reports Sky News.
Big banks axe dealmaker jobs as revenues tumble July 12, 2022 Major investment banks have started cutting dealmaker jobs after last year’s hiring binge as revenues fall. 12 big banks have slashed their investment banker roles in the second quarter of 2022, according to research from data provider Coalition Greenwich, as reported by Financial News London. These include Bank of America, Barclays, BNP Paribas, Citigroup, Credit [...]
Downfall of a Prime Minister: How handling of Chris Pincher scandal spiralled into Boris Johnson’s worst crisis July 10, 2022 An isolated Boris Johnson has agreed to leave Downing Street this September – following haemorrhaging support across the Tory ranks in the wake of the Chris Pincher scandal. The Prime Minister announced his resignation yesterday. After a dramatic wave of Government resignations this week and a slew of former allies withdrew their backing his political [...]
Investors pour £22m into real estate trust Impact Healthcare July 6, 2022 Investors have poured more than £22m into a London-listed healthcare real estate investment trust (REIT), the company’s board announced today. Impact Healthcare REIT, which specialises in care home investments, has grown its market capitalisation north of £450m since listing on London’s main market in 2017. The funds from a share placing, which the board announced [...]
The Very Group hires ex-Walmart executive as CEO amid £4bn IPO rumours July 6, 2022 The Very Group has snapped up the former president and CEO of Walmart Japan Lionel Desclée to run the online retail giant as it mulls a £4bn float. Desclée will join the company on 19 September, as current CEO Henry Birch will step down after four and a half years overseeing the firm. Very Group [...]
Wounded Boris Johnson in fight of his life after shock resignations: Westminster numb as UK wakes up with new chancellor July 6, 2022 After a night of high drama in Westminster, which saw a pair of Cabinet resignations and a series of Government exits threaten to force the Prime Minister from Number 10, Boris Johnson fights on this morning to save his premiership, or what is left of it. Rishi Sunak quit as chancellor on Tuesday, alongside Sajid [...]
Rishi Sunak and Sajid Javid quit cabinet as PM on the brink July 5, 2022 Rishi Sunak and Sajid Javid have both sensationally resigned from cabinet, leaving Boris Johnson’s government on the brink of collapsing. The two resignations may spell the end of Johnson’s premiership as more ministers are now likely to resign in anger with Johnson’s handling of the Chris Pincher sexual misconduct scandal. Johnson’s chief of staff Steve [...]
Bank of England economy warning sends London markets lower July 5, 2022 London markets were dragged lower today by the Bank of England warning the UK economy is headed for a tough time over the coming year. The capital’s premier index shed nearly three per cent to close at 7,025.47 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]