DCMS chair Damian Collins calls for crackdown on fake news spread by ‘wealthy people’ October 10, 2019 A top MP has called for a crackdown on campaign groups funded by “wealthy people” that spread disinformation on social media. Damian Collins, chair of the Digital, Culture, Media and Sport (DCMS) select committee, warned that much of the discourse on social media was not spread organically but rather promoted by shady backers. Read more: [...]
Bank of England launches new £20 note featuring JMW Turner October 10, 2019 The Bank of England (BoE) has launched a new polymer £20 note featuring British painter JMW Turner. BoE governor Mark Carney announced that Turner would be replacing 18th Century economist Adam Smith as the face of the banknote at an event at the Turner Contemporary gallery in Margate. Read more: Britain’s financial system ‘prepared’ for [...]
UK recession fears ease as quarterly GDP growth beats Brexit concerns October 10, 2019 Fears of a Brexit-fuelled UK recession in the immediate future have eased, despite Britain’s economy shrinking 0.1 per cent in August. That is because Britain’s estimated GDP grew 0.3 per cent in the last three months, according to Office for National Statistics monthly data. Read more: New IMF chief Kristalina Georgieva says trade wars to [...]
Philip Hammond: Post-Brexit trade deals have ‘very limited economic value’ October 10, 2019 Philip Hammond has taken a swipe and Brexit supporters’ hopes of striking free-trade deals around the globe after leaving the EU because they have “very limited” economic value. The former chancellor said there is no “simple solution” to Brexit, and called a no-deal scenario an act of “self-harm”. Read more: Bercow discussed Brexit plans with [...]
London house prices suffer steepest fall since financial crisis October 10, 2019 London house prices fell at their fastest rate since the financial crisis in the third quarter, according to Halifax. Homes in the capital saw their values sink 1.7 per cent year on year, their worst performance since autumn 2009. Meanwhile south east house prices dropped 1.3 per cent. Read more: Brexit uncertainty takes a bite [...]
Healthcare giant Philips issues profit warning on US-China trade tariffs October 10, 2019 Dutch healthcare-tech giant Philips has warned the trade war between the US and China will stop it hitting targets for profit margin improvement this year. In an update ahead of its third-quarter report, the European firm said rising tariffs would hamper its earnings before interest, tax and amortisation (EBITA) margin. Read more: Philips to close [...]
Hargreaves Lansdown boosts assets under administration to over £100bn October 10, 2019 Hargreaves Lansdown said today that it had grown assets under administration to over £100bn at 30 September. In a trading update, the investment firm said that assets under administration stood at £101.8bn, up from £99.3bn three months earlier. The company said net new business was £1.7bn, compared to £1.3bn at the same time last year, [...]
Strong Roots’ Sam Dennigan talks exporting and the environment October 10, 2019 Exporting is a major topic ahead of the Brexit deadline of 31 October. Hundreds of thousands of business across a range of sectors are understandably concerned about how to overcome the challenges associated with exports after leaving the EU. Sam Dennigan, founder and chief executive of Strong Roots, managed to crack this conundrum with a [...]
Order, order: The race is on to replace John Bercow October 10, 2019 The departure of John Bercow from the speakership of the House of Commons will create a vacancy of huge importance. Yesterday, nine hopefuls vied with each other for the honour of replacing him, answering journalists’ questions on everything from the impartiality of the role, to Westminster’s alleged drug problem, to the rules on breast-feeding in [...]
London house prices dip amid Brexit uncertainty October 10, 2019 London house prices dipped last month as both sellers and buyers drag their feet until clarity emerges over the UK leaving the EU. In total 36 per cent of estate agents in the capital reported a fall in agreed sales and 30 per cent saw a drop in homes coming on to the market last [...]