Extinction Rebellion occupies HS2 drilling rig in West London February 18, 2020 Extinction Rebellion have this morning occupied a drilling rig at an HS2 site in West London, claiming that the drilling could contaminate an aquifer which provides almost of quarter of London’s drinking water. Two members of the activist group, including Paralympian James Brown, have climbed onto the roof of the vehicle and have unfurled a [...]
HSBC: Profit plunges as bank plans 35,000 job cuts February 18, 2020 HSBC has outlined plans to offload $100bn (£77bn) of assets and dramatically downsize its investment banking arm in a restructure that will cost 35,000 jobs over the next three years. Profit before tax tumbled by a third to $13.6bn in 2019, HSBC said as it revealed its most radical overhaul since the financial crisis in [...]
Barclays and Downing St have some thinking to do February 17, 2020 Once is unfortunate, twice could be coincidence but three times starts to look like a pattern. We can now say Jes Staley’s unfortunate habit for gathering eyebrow-raising headlines certainly looks like the latter. The latest is the controversy surrounding his relationship with convicted sex offender Jeffrey Epstein, and two watchdogs’ investigation into whether he was [...]
Barclays boss Jes Staley ‘ready to talk to FBI’ about Jeffrey Epstein February 16, 2020 Barclays chief executive Jes Staley is ready to tell US authorities everything he knows about Jeffrey Esptein following revelations that British regulators are probing his links with the paedophile financier. Lawyers for Epstein’s victims have urged the banking boss to speak with the FBI and hand over any information he has on his former client. [...]
Banknote printer De La Rue set for review of finances February 15, 2020 The Bank of England’s banknote printer, De La Rue, is set for talks with its lenders after calling in advisers to review the business. De La Rue’s banking syndicate, led by HSBC, has appointed FTI Consulting to negotiate the future of its borrowing arrangements with lenders, according to Sky News Last November, the firm said [...]
Labour looks destined to sit out the next 10 years in political wilderness February 14, 2020 On Monday Lord Michael Ashcroft published a detailed and searingly honest critique of the Labour party’s failed 2019 election. Based on polling and focus groups of former Labour voters, he painted a picture of a party that had drifted so far away from the values and aspirations of ordinary people that its drubbing was inevitable. [...]
It’s time to make space for cosmic investing February 14, 2020 Valentine’s Day 2020 will be about more than roses and chocolate. It marks the 30th anniversary of one of the most iconic images of all time: a parting photograph of Earth taken by the Voyager 1 space probe. This image became notorious as the Pale Blue Dot, a seemingly insignificant pixel against a vast black [...]
Javid launches parting shot over Treasury ‘impartiality’ February 13, 2020 Sajid Javid launched a parting shot at the Prime Minister yesterday after sensationally quitting as Chancellor, warning that Johnson and his aides were risking the “credibility” of the Treasury. Tensions between Number 10 and Number 11 dramatically came to a head during yesterday’s reshuffle, with Javid resigning in protest over plans to fire his advisers [...]
Cabinet reshuffle live: Chancellor resigns over turf war with No 10, as PM shakes up top team February 13, 2020 This is a live blog, please hit refresh to update 6pm – Live blog wrap Well, that’s your lot for today – at least, in terms of this live blog. My colleagues will be picking up on the rest of the appointments this evening and tomorrow. It was quite a day – certainly more of [...]
Javid: No self-respecting minister could accept PM’s conditions February 13, 2020 Sajid Javid has said he quit rather than accept conditions that “no self-respecting minister could”, following his surprise resignation as chancellor today. Simmering tensions between Downing Street and Treasury erupted into all-out warfare this morning, after he resigned in protest over plans to merge the two teams’ advisers. Despite run-ins with Boris Johnson’s chief adviser [...]