The CMA’s showdown with Facebook over Giphy foreshadows a crackdown December 3, 2021 You probably don’t think of GIFs and think of showdowns with tech giants. Mostly, these short clips decorate people’s texts and social media profiles. Now, they are at the forefront of regulators’ efforts to rein in big tech. On Tuesday, the UK’s competition regulator – the Competition and Markets Authority (CMA) – told Facebook (now [...]
Number 10 tells US not to ‘conflate’ Trump-era steel tariffs with Brexit December 2, 2021 Downing Street has warned the US that tetchy UK-EU negotiations over the post-Brexit Northern Ireland Protocol should not affect any decisions made about Donald Trump-era tariffs on British steel. A Number 10 spokesperson said “we do not think those issues should be conflated”, after reports today that the US was not removing tariffs on British [...]
HSBC boss warns costs will soar if Brexit fragments European financial market December 2, 2021 The boss of the UK’s largest bank has warned banks and their clients will have to swallow higher costs if Brexit fragments the European financial market. Speaking at the Financial Times’s Global Banking Summit, Noel Quinn, chief executive of HSBC, said there is a real “risk of fragmentation increasing costs” in the banking sector. Several [...]
US to push back on trade deal with UK over Brexit concerns December 2, 2021 Biden’s administration is planning on delaying its deal to remove tariffs on UK metals left over by the Trump administration, due to concerns about potential post-Brexit trade rules affecting Northern Ireland. In a communication seen by the Financial Times, a US commerce department official said that negotiations with the UK on easing steel and aluminium [...]
Mark Kleinman: Light finally shines on Schroders’ M&G ambitions December 2, 2021 Sky News’ Mark Kleinman is the man the City reads – and in his fortnightly column for City A.M., he shares his insight and analysis. Schroders is solved The mystery is finally solved. For months, fund management executives have puzzled over two aspects of Schroders’ aborted ambitions to take over M&G Investments and create a [...]
Nicola Sturgeon can huff and puff but she won’t get a new independence referendum December 2, 2021 Scottish independence is not even in the top half-dozen priorities for voters in Scotland, yet once again Nicola Sturgeon used her speech to the SNP conference this week to bang the drum for another push for independence. She is obsessed. Fixing the economy post-Covid? The mounting crises in the Scottish NHS? The appalling decline in [...]
Ethereum continues to outpace a flat Bitcoin December 1, 2021 A turbulent start to the week for Bitcoin continues, with the leading cryptocurrency yesterday bouncing between $56,000 and $59,000.
Letters: Catch London if you can December 1, 2021 [Re: New ‘purpose-built’ $1bn UK clearing bank launches in London, yesterday] Whether or not the newly-launched Bank of London achieves the disruption of clearing services its founders promise, its establishment is still a hugely positive message for Britain to send to the world. Post-Brexit, many were concerned in relation to the City’s forecast loss of [...]
Trump hits out at Boris Johnson’s ‘liberal’ wind power plans December 1, 2021 Donald Trump has hit out at Boris Johnson for his plan to make the UK a global wind power giant, while also lamenting that the Prime Minister has “gone a little bit on the more liberal side”. Trump said that wind farms were “horrible”, “ridiculous” and prone to “rust and wear out and look terrible”. [...]
Crypto.com snaps up two exchanges from IG Group for $216m December 1, 2021 Crypto.com plans to purchase two exchanges from London-listed fintech IG Group in a $216m deal expected to close in the next six months.