Liam Fox through to next round in WTO director general contest September 18, 2020 Liam Fox, Britain’s pick for the next director general of the World Trade Organization (WTO), has made it through to the second round of the selection process. The former international trade secretary was nominated by Prime Minister Boris Johnson in July, after current director general Roberto Azevedo stepped down following a seven-year tenure. Three candidates, [...]
Does Nvidia’s buyout of ARM signal the death knell for UK tech entrepreneurship September 18, 2020 Earlier this week, it emerged that the UK’s largest technology firm, ARM, was to be sold to US giant Nvidia. The deal, worth £31bn, led to cries from Arm founder Hermann Hauser that it would be an “absolute disaster” and would cost UK jobs. However Jensen Huang, Nvidia’s chief executive, said the deal would create [...]
FTSE 100 and US stocks slide following central bank announcements September 17, 2020 The FTSE 100 continued trading in the red after the Bank of England announced it would keep monetary policy on hold, while Wall Street opened lower as tech stocks slumped. The blue-chip index dropped 0.7 per cent before inching up marginally to trade down 0.4 per cent after the bank said the economy’s recovery had [...]
British Chambers of Commerce boss to step down after five years September 17, 2020 The director general of the British Chambers of Commerce (BCC) Dr Adam Marshall is stepping down from the business group after five years at the helm. Marshall, who has held senior positions at the BCC for the last 12 years, will leave his role at the end of March 2021. Over the course of his [...]
Bank of England keeps policy on hold and flags solid recovery September 17, 2020 The Bank of England has kept monetary policy on hold, saying the UK economy’s recovery had been “a little stronger” than expected but warning that coronavirus could knock it off course. The Bank kept its main interest rate at the record-low level of 0.1 per cent, and the bond-buying target stayed at £745bn. The vote [...]
Kier Group shares soar as it outperforms pandemic expectations September 17, 2020 Shares in outsourcing group Kier jumped more than 11 per cent today, after the group surpassed analyst expectations in a set of full-year results dented by the coronavirus pandemic. Its adjusted profit before tax fell 72.5 per cent to £16.9m, compared to £61.4m in 2019 after costs related to restructuring and Covid-19. Costs directly related [...]
Chris Grayling sets sail again with new £100,000 ports advisory role September 17, 2020 Former transport secretary Chris Grayling’s latest endeavour has been revealed – an £100,000 per year role to advise a global port company. The Tory MP will be paid for seven hours of work a week for a year by China-headquartered Hutchison Ports, the MPs’ register of financial interests said. The company operates Harwich, Felixstowe and [...]
Joe Biden: Northern Ireland peace deal cannot become ‘casualty of Brexit’ September 17, 2020 US Presidential nominee Joe Biden last night waded into the row over the UK’s Brexit negotiations, warning there will be no trade deal unless the UK upholds the Northern Ireland Good Friday Agreement. Trade talks with the EU have ramped up increasingly over the past week, with this latest intervention likely to put Downing Street [...]
Boris Johnson sees off potential Tory rebellion on Brexit bill September 16, 2020 Boris Johnson has quelled a potential Tory backbench rebellion next week by agreeing to give MPs a final say on a controversial Brexit bill that could breach the Brexit withdrawal agreement. Downing Street put out a statement today to say it would amend its Internal Market Bill, which is going through parliament this week, to [...]
Raab accuses EU of threatening Irish peace in Brexit negotiations September 16, 2020 Foreign secretary Dominic Raab has said any threat to the Good Friday Agreement has come from EU negotiators, as he attempts to assuage concerns in the US about a post-Brexit trade deal. Raab is currently visiting US politicians to convince them about the latest developments in Brexit negotiations, appearing today at a press conference alongside [...]