FTSE 100 closes higher after upbeat UK earnings October 20, 2020 The FTSE 100 recovered from an early fall to close in the green after a day of positive quarterly earnings, although residual fears over coronavirus and new restrictions remain. London’s blue-chip index fell 0.3 per cent but crept back through the day to close up by the same margin at 5,899 points. The FTSE 250 [...]
Bank of England and US regulators renew deal on clearing cooperation October 20, 2020 The Bank of England and US trading watchdog have signed a new agreement to cooperate on the supervision of cross-border clearing of financial transactions. “The CFTC and the BoE express their willingness to cooperate in the interest of fulfilling their respective regulatory mandates, particularly in preserving the benefits of cross-border clearing activity,” the Bank said. [...]
Peers push back on Brexit bill in largely symbolic move October 20, 2020 The House of Lords has voted against Boris Johnson's Internal Market Bill, which seeks to breach the Brexit withdrawal treaty if the UK does not get a trade deal with the EU.
Brexit: EU not serious about restarting trade talks, says minister October 20, 2020 The EU’s offer to restart broken down Brexit trade talks amounted only to “lip service”, according to a UK business minister. Nadhim Zahawi said today that the UK still wanted a Brexit trade deal, despite Boris Johnson refusing to come back to the negotiating table, but that talks would not continue until Brussels treats Britain [...]
City of London pledges to lure in small businesses and artists in plan to ‘reinvent itself’ October 20, 2020 The City of London Corporation has pledged to “reinvent itself” by encouraging small businesses and artists to “re-enter the city centre”, as the capital attempts to shake off the economic damage of the pandemic . In a five-year target to reinvigorate London, the City has drawn up plans to motivate small businesses and artists to [...]
The Banking Dilemma: Do we really want Big Tech to control our financial data? October 20, 2020 “If something is a tool, it is genuinely just sitting there, waiting patiently. If something is not a tool it’s demanding things from you… seducing… manipulating; it wants things from you.” This damning indictment of social media platforms is one of many from industry insiders featured in the latest must-watch Netflix documentary, The Social Dilemma. [...]
FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased October 19, 2020 FTSE 100 goes in reverse as sterling strengthened while Covid restrictions increased
Brexit: EU vows to ‘intensify’ trade talks to get UK back to negotiating table October 19, 2020 EU chief Brexit negotiator Michel Barnier has said he is available to “intensify” trade talks, in a bid to get the UK back to the negotiating table, just moments before Michael Gove told MPs that Brussels needed to “fundamentally change” if a deal is to be done. Barnier also said the EU would also prepare [...]
UK watchdog ramps up pressure on tech giants as it sets one-year ultimatum October 19, 2020 The UK competition watchdog has urged the government to step up plans for a new digital regulator as it warned it is preparing to take action against tech giants such as Facebook and Google. Andrea Coscelli, chief executive of the Competition and Markets Authority (CMA), said his organisation was “actively considering” potential enforcement cases in [...]
Brexit: EU needs to show ‘maturity’ in trade talks, says minister October 19, 2020 The EU has been immature and inflexible in trade negotiations but the door is “still ajar” for a Brexit trade deal, according to a cabinet minister. Boris Johnson said on Friday that the UK was finished negotiating with the EU unless it is willing to intensify talks and make key concessions. His words were seen [...]