Instagram likely to ‘overtake Twitter’ as a source of news June 16, 2020 Instagram is set to overtake Twitter as a source of news, new research has shown, as public trust in traditional media continues to nosedive. The use of the photo-sharing platform as a news source has doubled to 11 per cent since 2018 and looks likely to overtake Twitter over the next year, a report by [...]
Boris Johnson expected to merge Foreign Office and International Development Department June 16, 2020 Boris Johnson is expected to announce today that the Department for International Development (DFID) will be folded into the Foreign and Commonwealth Office (FCO). The Prime Minister is slated to make an announcement today in the House of Commons on “global Britain”, with the BBC now reporting that he will announce the merger of the [...]
The City View: Jack Inglis on the evolution of the hedge fund June 16, 2020 In this episode Christian is joined by Jack Inglis, CEO of the Alternative Investment Management Association which represents funds from 60 countries with more than $2 trillion under management between them. Jack talks about how hedge funds have responded to the market volatility and economic disruption of recent months, and offers a robust defence of [...]
Brexit: Boris Johnson says ‘a bit of oomph’ is needed in trade talks June 15, 2020 Boris Johnson and the heads of the EU have agreed that “new momentum” is needed in trade negotiations for a deal to be struck by the 31 December deadline. In a joint statement issued after their Brexit summit today, leaders of the UK and EU said they needed to “intensify the talks in July and [...]
HSBC’s head of public affairs leads pro-China lobbying push June 14, 2020 A pro-China business group is urging FTSE100 companies to lobby the UK government to act more pro-Beijing as relations between the two countries begin to flounder. The China-Britain Business Council (CBBC) – whose members include HSBC, BP and Standard Chartered – has spoken to a number of high-profile companies, that have connections to China, to back [...]
FTSE 100 inches into green despite record plunge in UK GDP June 12, 2020 The FTSE 100 closed 0.23 per cent up on Friday, having spent most of the session inching higher despite data showing the British economy suffered the largest contraction on record in April. While the blue-chip managed to shake a four-session decline, it remained on track for its worst weekly drop in around three months. Cyclical [...]
Ex-chancellor George Osborne quits as Evening Standard editor after three years June 12, 2020 George Osborne is to step down as editor of the Evening Standard after three years in the role, it was announced today. The former chancellor of the exchequer said: “After three wonderful years I’m stepping down at the Evening Standard to become editor-in-chief. Thanks to the team who’ve made the paper a must read and [...]
Sterling sheds gains against dollar as Brexit fears weigh June 12, 2020 The pound shed early gains against the dollar this afternoon as concerns over Brexit coupled with dire UK economic data weighed on sterling. Sterling has been edging lower this week after rising 3.9 per cent against the dollar in last week’s rally. Having recovered briefly this morning to touch $1.2653, the pound soon flattened back [...]
City welcomes move to ease post-Brexit border controls June 12, 2020 Business groups have reacted favourably to the government’s decision to u-turn on imposing full border checks on all EU goods entering the UK after the Brexit transition period ends. Border controls will now be introduced over three stages up until July 2021, with Cabinet Office minister Michael Gove has accepting that businesses should not have [...]
No more ‘Cinderella sector’ — we need to invest in further education for Londoners June 12, 2020 Like the rest of the UK, London’s economy has taken a body blow from Covid-19, with unemployment rising steeply and a widespread take up of the Job Retention Scheme (“furlough”). Some London industries have managed to stay active and engaged during lockdown, such as finance and business services, but a vast range — from accommodation [...]