Thomas Cook: How did it end up like this? July 12, 2019 Companies in the travel industry have endured a turbulent year – and none more than Thomas Cook. Read more: Thomas Cook shares plunge to record low as investors face being wiped out The embattled firm this morning said it is closing in on a bailout deal which would see Chinese firm Fosun give it £750m [...]
Bank of England could cut interest rates to near zero in no-deal Brexit July 12, 2019 Interest rates could be cut to almost zero if Britain leaves the European Union without a deal, a top official at the Bank of England said today. Gertjan Vlieghe, a member of the Bank’s rate-setting monetary policy committee (MPC), told an audience in London today that Threadneedle Street might have to slash rates to nearly [...]
Investing in property? Make sure you’re doing it properly July 12, 2019 Mark Twain once quipped: “Buy land, they’re not making it anymore.” For many investors, the finite nature of land translates into making property a safe, steady investment that diversifies a portfolio. As ever in life though, if only it were so simple as just buying the asset – whether that is a building, an aircraft [...]
Thomas Cook shares hit record low amid £750m takeover talks with Fosun July 12, 2019 Thomas Cook’s shares sunk to their lowest price ever this morning as it confirmed it is in advanced talks with Fosun over a proposed £750m deal which would give the Chinese firm majority ownership over its tour operator business. Read more: Thomas Cook engages in Fosun talks to save company The deal would also give [...]
It’s time we rediscovered the ancient art of diplomacy July 12, 2019 On hearing of the death of the Turkish ambassador, the legendary Napoleonic diplomat Charles-Maurice de Talleyrand supposedly responded: “I wonder what he meant by that?” An apocryphal anecdote, perhaps, but this week, when the spotlight has been focused brightly on the shadowy world of the foreign service, it’s a useful story to consider. Sir Kim [...]
The UK trade team had better up its game – and fast July 12, 2019 Yesterday, on talkRADIO, secretary of state for work and pensions Amber Rudd confirmed that, regardless of who wins the Conservative leadership contest, the option to leave the EU without a deal will be “part of the armoury” for the new government. While not quite the “do or die” remarks that Boris Johnson gave to the [...]
Give me a fulcrum and lever long enough: London’s engineers are moving the world July 12, 2019 British ideas continue to move the world. Irrespective of the political developments around Brexit, the soft power and influence of our industrial intellectual property and engineering innovation benefits not just Britain, but transforms lives around the world. Today, London and the rest of the UK celebrate the fiftieth anniversary winner of the Royal Academy of [...]
Panorama revealed a Labour party that’s rotten to the core July 12, 2019 The Labour party has declared war on the BBC. In response to (in fact, ahead of) Wednesday night’s Panorama film about the party’s handling of antisemitism within its ranks, a concerted campaign was whipped up online to discredit the journalist at the helm, John Ware. How times change. Back in 2002 a group of MPs [...]
Sterling edges higher on UK no-deal Brexit preparations as FTSE 100 sheds gains July 11, 2019 The pound rose 0.35 per cent against the dollar as the greenback slipped again today after falling on yesterday’s comments from Federal Reserve chair Jerome Powell. Powell said “trade tensions and concerns about global growth” have weighed on the US’ economic outlook, making a rate cut more likely. Read more: Mark Carney is ‘too busy’ [...]
German stock market outlook 2019: is the economic upswing over? July 11, 2019 Concerns over the strength of the German economy are growing. A steady upswing of the eurozone’s powerhouse may be over. The weaker economic growth expected this year is considered “a wake-up call” for the government. Let’s find out what to expect from the German stock market news in light of gloomy official figures. Stormy times [...]