Swedish telecoms giant Telia sells international carrier business for $1bn October 6, 2020 Swedish telecoms group Telia Company today said it has agreed to sell its international carrier business to infrastructure firm Polhem Infra for 9.5bn Swedish krona ($1.1bn). Telia, which is led by British media veteran Allison Kirkby, said it has simultaneously entered into a long-term partnership with its carrier division to ensure continued network provision for [...]
In full: PM Boris Johnson’s Tory conference speech in full October 6, 2020 Boris Johnson took the stage Tuesday for the Tories’ virtual party conference, announcing policies on 1:1 teaching and low-deposit mortgages, but also promising to unleash the private sector. Here’s the text in full. Good morning conference, I want to begin by thanking you for everything you did at the election, pounding the streets in the [...]
City urges government to rip up ‘fundamentally unfair’ immigration system October 6, 2020 The City of London Corporation has urged the government to shake up its “fundamentally unfair” immigration system to boost the UK economy’s post-pandemic recovery ahead of the Brexit transition period deadline. In a report released today in collaboration with EY, the City body called on the Home Office to “rip up the red tape” and [...]
Trump could be discharged tomorrow despite drop in oxygen levels during Covid fight October 4, 2020 President Donald Trump has released a personal video from his hospital room saying he os doing well, but the real test will be in the coming days.
City powerhouses will need to adjust to the “new normal” October 4, 2020 In the past week, London’s leading financial services companies have quickly had to reassess their plans to get employees back to the office. While many industry leaders will have come to a painful realisation that arriving at a “new normal” will be a more iterative process than previously imagined, they should take stock in the [...]
7,500 UK finance jobs shifted to EU since historic vote, as hard Brexit edges closer October 1, 2020 More than 7,500 UK finance jobs have headed for Europe since the 2016 EU referendum, with more relocations expected as City firms edge against a hard Brexit. In September alone, financial services firms moved more than 400 jobs to financial hubs across the EU, according to a new Ernst & Young report, published earlier this [...]
Coronavirus: TSB to axe a third of branches and over 900 jobs September 30, 2020 TSB has announced plans to close 164 branches and cut over 900 jobs as the British lender grapples with the impact of the coronavirus pandemic. The lender said the cuts – which represent a 10 per cent reduction in the bank’s workforce and the loss of a third of its branches – were part of [...]
Card Factory says second half sales recovering, gives no outlook September 29, 2020 Britain’s Card Factory said today it has had an encouraging start to the second half of the fiscal year as its stores reopened, but could not provide a forecast for the rest of the year as it faced the impact of a new wave of coronavirus lockdowns. “In the short term, as well publicised, recovery in the retail [...]
Boris Johnson facing parliamentary defeat over Covid powers September 27, 2020 Boris Johnson is facing his first parliamentary defeat since winning the 2019 election, with up to 60 Tory MPs prepared to defy party whips and vote for an amendment to new Covid legislation. Legislation to extend powers allowing the Prime Minister to unilaterally impose coronavirus restrictions by a further six months will come before the [...]
Cineworld warns on future as it sinks to $1.6bn loss September 24, 2020 Cineworld shares sunk 15 per cent at the open today after warned it may need to raise cash after the cinema chain sunk to a first-half loss of $1.6bn due to the coronavirus outbreak. The figures Cineworld posted revenue of $712.4m in the six months to the end of June, down 67 per cent on [...]