Corbyn’s Brexit policy victory overshadowed by voting chaos September 23, 2019 Labour’s conference descended into chaos today as Jeremy Corbyn narrowly secured delegates’ support to maintain a neutral position on Brexit. According to the new policy Labour will remain neutral on Brexit during a General Election and would seek to negotiate a new deal if it formed a government. It would then hold a referendum within [...]
Supreme Court to rule on Boris Johnson’s parliament suspension tomorrow September 23, 2019 The Supreme Court will announce its decision on whether or not Prime Minister Boris Johnson’s move to prorogue parliament was illegal at 10.30am tomorrow. The UK’s highest court will reveal its ruling on the matter after hearing arguments for and against Johnson’s five-week suspension of parliament last week. Read more: Pannick stations: Battle lines drawn [...]
Acceptance of negative interest rates ‘vaguely troubling’, says BIS September 23, 2019 Growing acceptance of negative interest rates has reached “vaguely troubling” levels, the Bank for International Settlements (BIS) has said. Recent switches back into economic support mode by central banks including the European Central Bank and Federal Reserve has led to a record $17 trillion (£13.7 trillion) of bonds trading at negative rates. Read more: Blackrock [...]
Labour pledges to cut working week to 32 hours September 23, 2019 Shadow chancellor John McDonnell has pledged to cut back the working week to 32 hours, with no loss of pay, “within the next decade” under a Labour government. In what would be a radical transformation of the UK’s labour market, increasing the role of the state in the workplace, McDonnell set out how a Labour [...]
Miton’s assets under management jump despite fund outflows September 23, 2019 Miton Group has reported an increase in assets under management (AGM) for the first half despite slipping back to net outflows, which the asset manager blamed on political uncertainty related to Brexit. The company reported an eight per cent increase in AUM, which were £4.7bn at the end of the first half. Read more: Hargreaves [...]
Thomas Cook goes bust: How did it end up like this? September 23, 2019 Britain’s 178-year-old travel firm Thomas Cook officially collapsed into administration in the early hours of this morning after last-ditch rescue talks with lenders failed. The UK’s aviation regulator, the Civil Aviation Authority (CAA), is now in the process of escorting back home hundreds of thousands British holidaymakers who are abroad after booking with Thomas Cook. [...]
London overtakes New York to steal global fintech investment crown September 23, 2019 London has overtaken New York to become the world’s number one city for investments in fintech firms, new figures have revealed. In the first eight months of the year alone, London has attracted 114 investments with a record-breaking value of more than $2bn (£1.6bn), according to industry body Innovate Finance and the mayor’s promotional agency [...]
Labour conference latest: Unison urges members to back Remain September 23, 2019 The country’s biggest union has urged its members to go against the Labour leadership and back a motion that would make Remain the party’s unequivocal policy. Unison is expected to go against the recommendation put forward by the National Executive Committee (NEC) that would have left a final decision of what position to take regarding [...]
Pub companies: Is now the time to invest in a cheap pint? September 23, 2019 Investors in Greene King are raising a glass in celebration after Hong Kong’s richest man, Victor Li, agreed to buy the UK’s largest publicly-listed pub and brewery company for £4.6 billion (including net debt). A unit of Li’s investment vehicle, CK Asset Holdings, has bid 850 pence per share – more than a 50 per [...]
Eurozone comes close to a standstill as activity hits six-year low September 23, 2019 Economists warned the Eurozone was on the verge of stalling this month as demand for goods and services fell at its fastest rate since 2013. Slowing service sector expansion compounded a worsening manufacturing recession to knock the Eurozone’s composite output to a 75-month low of 50.4, according to IHS Markit’s Purchasing Managers’ Index (PMI). Read [...]