Wise exec: London tech scene already at ‘critical mass’ despite Brexit July 5, 2021 A senior exec at London fintech darling Wise has said Brexit “won’t get in the way” of the capital’s tech ecosystem continuing to thrive. Speaking on City A.M.’s podcast, the firm’s Chief Financial Officer Matt Briers said that while many elements including recruiting have become “harder,” the tech climate is “already at critical mass.” Read [...]
Forward Partners announces intention to float in London July 5, 2021 Forward Partners, the London-based venture capital firm, announced on Monday morning that it intends to list in London. The firm said it will seek admission of its shares to trade on AIM, the London Stock Exchange’s junior market. The company expects to raise at least £25m from the share sale. The funds raised will be [...]
Nissan’s £1bn gambit in Sunderland is worth every penny of subsidies for Boris Johnson July 5, 2021 The campaign for the Brexit referendum seems a long time ago. By the calendar, it was only five years ago, and yet we remember it like another world: David Cameron was prime minister, Barack Obama was in the White House, François Hollande was sneaking out of the Elysée palace on the pillion of a scooter [...]
Truce in post-Brexit sausage wars only a ‘sticking plaster’, says David Frost July 4, 2021 This week’s three-month truce in the so-called sausage wars between the UK and EU only amounts to a “sticking plaster”, according to defacto Brexit minister Lord David Frost. Frost today maintained the government’s position that the post-Brexit Northern Ireland Protocol is failing to “reflect the balance that was in the Good Friday Agreement” and is “not [...]
Labour unveils new ‘Buy British’ economic policy July 4, 2021 Labour has unveiled a new economic plan that would aim to “make, sell and buy more in Britain” in a bid to counter Boris Johnson’s blue collar Tory message. The new “Buy British” push will be led by Labour leader Sir Keir Starmer and will come alongside a pitch to make the party as tough on [...]
Morrisons accepts £6.3bn takeover bid from SoftBank-backed Fortress July 3, 2021 Morrisons has accepted a £6.3bn takeover bid from a new group of funds led by affiliates of SoftBank-backed Fortress, the firm announced this morning. Morrisons shareholders will receive 254p a share, comprising 252p in cash and a 2p cash dividend. Read more: Top Morrisons investor says CD&R should up its bid to £6.5bn The group is [...]
Government faces post-Brexit High Court challenge over sugar tariffs July 2, 2021 The government is facing a post-Brexit legal challenge over trade policy, after the High Court agreed that a decision to cut sugar tariffs should be reviewed judicially. British Sugar is bringing the case against international trade secretary Liz Truss in response to her decision to allow 126,000 tonnes of raw cane sugar to enter the [...]
US stocks reach record high after strong jobs report July 2, 2021 US stocks hit a record high on Friday after the Labour Department posted better than expected jobs figures. The blue chip S&P 500 gained 0.31 per cent, up to 4,333, while the tech-heavy Nasdaq added 0.43 per cent to hit 14,585, both record highs. US businesses embarked on a hiring spree last month as the [...]
Premier Foods calls on government to deploy army amid severe lorry driver shortage July 2, 2021 Mr Kipling manufacturer Premier Foods has called on the government to consider using the army to distribute goods to help relieve a severe shortage of truck drivers that could see supermarket shelves left bare. Last week industry leaders warned Britain could face gaps on supermarket shelves this summer and an “unimaginable” collapse of supply chains [...]
UK-EU sausage war has de-escalated, but are you ready for the Brexit water fight? July 2, 2021 The UK has confirmed that major European mineral water brands like Evian and Perrier will lose their automatic right to export to Great Britain from January next year. The mineral water giants, which also includes San Pellegrino and Volvic, will now have to jump through a series of hoops to be allowed to ship their [...]