Exclusive: Did someone say chicken? UK preparing to break with EU on food safety at WTO meeting February 20, 2020 Downing Street is considering taking an independent stance on food safety at an upcoming WTO summit, in yet another breach of transition rules within the Brexit Withdrawal Agreement. The stage will be set when the US formally welcomes the UK as an independent member of the WTO during a meeting about sanitary and phytosanitary (SPS) [...]
Keir Starmer refuses to sign Khan’s London pledges February 20, 2020 Labour leadership frontrunner Sir Keir Starmer has refused to sign a set of so-called London pledges drawn up by Sadiq Khan. City A.M. exclusively reported last week that the mayor of London had asked the remaining three party leadership candidates — Starmer, Rebecca Long-Bailey and Nandy — to sign a set of six pledges aimed [...]
Downing Street poised to axe business councils February 20, 2020 Downing Street is planning a major shake-up of the way it deals with the business community, with officials planning to scrap the system created by Theresa May. Number 10 officials are poised to axe the five business councils set up by the former Prime Minister around business lines, including one for financial and professional services. [...]
US presses Downing Street again in ‘frank’ talks over Huawei February 20, 2020 A senior US official has met with Boris Johnson’s chief adviser Dominic Cummings in the hope of getting the government to change its mind over Huawei’s involvement the UK’s 5G network. Donald Trump’s acting chief of staff, Mick Mulvaney today met with Cummings and the Prime Minister’s chief strategic adviser Eddie Lister in what sources [...]
Chart attack: EU and UK at war over misleading stats in Brexit trade talks February 20, 2020 A row has erupted between the UK and EU over both sides’ misleading use of charts to score political points in Brexit trade talks. Yesterday the European Commission published a series of new slides arguing why the UK should not be granted the same kind of trade deal as Canada. Read more: EU ‘fails to [...]
PPI, profit drop, and a mixed 2020: Five takeaways from Lloyds’ results February 20, 2020 Lloyds reported a 26 per cent drop in annual profit on Thursday, with Britain’s largest domestic lender hit by a rise in bad debts and billions of pounds of customer compensation payout. Chief executive Antonio Horta-Osorio said the results demonstrated a “solid financial performance in a challenging external market”, but analysts have described them as [...]
UK retail sales jump 1.6 per cent in January after Tory election victory February 20, 2020 UK retail sales excluding fuel jumped the most in almost two years in January, official figures showed today. Retail sales rose excluding fuel 1.6 per cent compared to the month before as the new year got underway, the Office for National Statistics (ONS) said. And retail volumes rose 0.9 per cent to recover from falls [...]
Lloyds’ 2019 profit sinks after £2.45bn PPI charge February 20, 2020 Lloyds Banking Group revealed its 2019 profit sank 26 per cent today as it said it must pay out £2.45bn to settle payment protection insurance (PPI) claims. The figures Lloyds recorded profit before tax of £4.39bn, down 26 per cent on 2018, after the £2.45bn PPI charge. Underlying profit slipped seven per cent to £7.5bn [...]
Google users set to lose EU data protections after Brexit February 20, 2020 Google is planning to move its British users’ accounts out of the control of the European Union privacy regulators and place them under US jurisdiction. Ireland, where Google and other US tech firms have their headquarters, remains in the EU and its data is protected by the General Data Protection Regulation (GDPR). Reuters reported that [...]
Laura Ashley scraps dividend after doubling losses to £4m February 20, 2020 Struggling retailer Laura Ashley will not pay an interim dividend after losses more than doubled in the first half of the year amid a “challenging” trading period. The figures Laura Ashley reported total group sales of £109.6m, down from £122.9m a year earlier, for the first half of the year. The decline in total revenue [...]