Retailers warned to ramp up contingency plans as sales growth slumps September 3, 2019 Retailers were warned to prepare for further political and economic turbulence as like-for-like retail sales growth dipped last month in the latest blow for the UK high street. Bricks and mortar sales, not including food products, decreased by 0.5 per cent on a like-for-like basis from August last year. Read more: Retail sales get surprise [...]
Brexit: PM to call early election if rebel alliance succeeds September 2, 2019 Boris Johnson will ask MPs to back a General Election for 14 October if the rebel alliance successfully seize control of parliament tomorrow. On the steps of Downing Street earlier this evening, the Prime Minister told the public: “I don’t want an election; you don’t want an election.” But a senior government source later confirmed [...]
Saudi Energy Minister ousted from Aramco board ahead of expected float September 2, 2019 Saudi Arabia has removed its energy minister from the chairmanship of state-owned oil giant Saudi Aramco as it prepares to float the company as soon as next year. Khalid Al-Falih will step down from the position, as the company tries to avoid too many conflicts of interest as it hits the public markets for the [...]
Ex-chancellor Hammond challenges PM Johnson over Brexit September 2, 2019 The former chancellor Philip Hammond has challenged Prime Minister Boris Johnson, demanding to know what he has done to make headway in securing a Brexit deal with the EU. In the letter, seen by City AM, the anti-no-deal MP urged his new boss to answer six questions before parliament returns tomorrow. The letter was written [...]
Sterling spirals further as Boris Johnson sparks general election speculation September 2, 2019 Sterling has fallen through the $1.21 mark as speculation swirls that Prime Minister Boris Johnson is preparing to call a general election and the Tory party prepares for a dramatic showdown. Johnson has unexpectedly called a cabinet meeting for 5pm, increasing speculation that he could be about to call a ‘people versus parliament’ election. Read [...]
Sadiq Khan urges London MPs to do ‘whatever it takes’ to block no-deal Brexit September 2, 2019 Sadiq Khan has urged London MPs to do “whatever it takes” to stop a no-deal Brexit as parliament gears up for a showdown with Boris Johnson this week. The mayor of London, who has campaigned for a second referendum or people’s vote, has written to all 73 MPs in the capital to consider all options [...]
Allen & Overy’s US merger talks with O’Melveny & Myers collapse September 2, 2019 Magic Circle firm Allen & Overy’s longrunning merger talks with US firm O’Melveny & Myers have collapsed, the firm said today. In a statement, the firm said: “Allen & Overy and O’Melveny & Myers have held discussions about a possible combination and, despite agreeing that there were some compelling synergies between us and that it [...]
Brexit: PM to meet Cabinet today amid election rumours September 2, 2019 The Prime Minister will host an emergency Cabinet this afternoon, ahead of a reception with Conservative MPs, fuelling rumours that he is poised to call a General Election. Boris Johnson was expected to hold Cabinet on Wednesday morning, ahead of the chancellor’s fast-tracked spending round. However it has been brought forward to this afternoon, several [...]
More than 400 jobs on the line as Tata Steel announces Newport factory closure September 2, 2019 Hundreds of jobs are at risk at two UK steel plants after owner Tata Steel said it would shut down part of its operation. Tata said it planned to close its Orb Electrical Steels site in Newport, after looking to try to sell the plant for the last 15 months. The factory produces electrical steel [...]
Analysts upgrade ITV and JCDecaux as Brexit advertising campaign kicks off September 2, 2019 Broadcaster ITV and outdoor advertising giant JCDecaux could be set for a revenue boost as the government launches its £100m Brexit public information campaign. Analysts at Liberum said the two companies were likely to benefit from additional ad spend due to the ‘Get ready for Brexit’ ad campaign, which launched with a new website yesterday. [...]