Tiktok denies giving data to China over India ban June 30, 2020 Tiktok has today denied claims by the Indian government that it has shared individuals’ data with China, as the app went dark for the country’s 200m users. India yesterday banned Tiktok along with 58 other apps which have parent firms in China, claiming they “pose a threat to the sovereignty and security” of the country. [...]
Furious Theresa May attacks PM’s political choice for national security adviser June 30, 2020 Former Prime Minister Theresa May has lashed out at Boris Johnson and his allies for appointing loyalist Brexit adviser David Frost as the country’s new national security adviser. May said Frost, who is a close ally to the Prime Minister, was a political appointment and undermined the impartial role of national security adviser. Frost was [...]
Exclusive: UK unhappy with treatment from EU in Airbus-Boeing dispute June 29, 2020 Trade secretary Liz Truss has complained to the EU Commission that the UK is being unfairly represented by Brussels in a long-running trade dispute between Boeing and Airbus. EU sources told City A.M. that Truss set up meetings with high-level figures from the Commission to complain that the other three European countries involved in the [...]
The UK is setting fintech trends in the wake of COVID-19 June 29, 2020 Much has been written about the greatness of the UK fintech hub as one of the world-class locations that keeps setting global fintech trends. The UK used to be THE global fintech hub, thanks to combined efforts by regulators, governments, the great tech and finance talent pool, and famous startups that were born here. The [...]
Covid consolidation bears low-hanging fruit for traders June 29, 2020 No understatement is truer than the one about how “nothing will ever be the same again” following the coronavirus pandemic. Businesses in the hundreds of thousands will not reopen. Millions of jobs have been lost. Billions of dollars have been wiped off the valuations of household brands and City darlings. Past worries about Brexit seem [...]
Tiktok to transfer data control to UK arm ahead of Brexit June 29, 2020 Tiktok has said it will be moving ownership of its users’ data in Europe to local subsidiaries, in a boost to its British arm as it prepares for new post-Brexit regulations. The social media app’s US parent Tiktok Inc will no longer manage and safeguard data for users based in the UK and the European [...]
Sterling slips against euro and dollar amid worries over UK spending plan June 29, 2020 Sterling fell against the euro and dollar on Monday amid concerns from investors over how the British government will finance its planned infrastructure programme, with Brexit-related risks helping to keep pressure on the pound. Prime Minister Boris Johnson said this morning that he would ramp up government spending in a bid to mitigate the economic [...]
Vodafone likely to snub the City for Frankfurt in towers business listing June 29, 2020 Vodafone is veering away from the City, and is instead eyeing up Frankfurt for the listing of its multi-billion-pound European towers business, in a move that will further position the firm away from Britain. The telecoms firm last week invited advisers to pitch for a role on the planned flotation of its European tower units, [...]
UK’s top civil servant Sir Mark Sedwill resigns June 28, 2020 The UK’s top civil servant Sir Mark Sedwill has resigned from his three-pronged role as cabinet secretary, national security adviser and head of the civil service. Sedwill announced his resignation today and will step down from his role in September, after 30 years in the civil service. Prime Minister Boris Johnson has nominated Sedwill for [...]
Trump warns against foreign interference in UK projects as US steps up national security efforts June 28, 2020 President Donald Trump has issued a stiff warning to the UK not to allow foreign interference in British projects, as the US looks to bolster its national security efforts amid increasing tensions with China. Trump yesterday warned that the US could block foreign buyers from purchasing Anglo-American satellite business Oneweb amid mounting national security concerns [...]