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 [...]
Bank of England to probe risks of Woodford-style funds July 11, 2019 The Bank of England will investigate the potential risks of funds like beleaguered trader Neil Woodford’s suspended investment vehicle. Fund managers are currently able to offer investors daily liquidity when their savings are actually tied up in illiquid and unquoted stocks, which are difficult to transfer quickly into cash. Read more: Woodford loses employees as [...]
Woodford loses trusted employees as fund suspension continues July 11, 2019 Neil Woodford’s investment company has started to lose top employees as a round of redundancies, sparked by the suspension of its flagship fund, begins to bite. Will Deer, the former head of institutional sales, has been made redundant, the company confirmed today. Read more: Woodford lifts block on investors switching from Hargreaves Lansdown Deer had [...]
Richard Branson: Sterling could hit dollar parity in no-deal Brexit July 11, 2019 A no-deal Brexit could cause sterling to crash until it hits parity with the dollar, according to Virgin entrepreneur Sir Richard Branson. Read more: Richard Branson’s Virgin Orbit to test satellite launch rocket Branson warned this would be “devastating” for Virgin brands, which cover rail, air travel, financial services and media, and could lead the [...]
Tom Watson and Sadiq Khan decry Labour ‘antisemitism’ after Panorama probe July 11, 2019 Prominent Labour figures were left aghast last night after a BBC investigation claimed people at the top of the party had minimised complaints of antisemitisim against its members. Deputy leader Tom Watson and London mayor Sadiq Khan were among those who spoke out after the allegations, which implicated general secretary Jennie Formby and communications director [...]
DEBATE: Should ambassadors be political appointments? July 11, 2019 Following Sir Kim Darroch’s resignation, should ambassadors be political appointments? Olivia Utley, deputy editor at TheArticle, says YES. To repair a special relationship which has gone – to put it mildly – a little sour, the new Prime Minister needs to appoint a special kind of ambassador. Sir Kim, who spent most of his career [...]
Woodford lifts block on investors switching from Hargreaves Lansdown July 10, 2019 Investors who found themselves locked into both Neil Woodford’s suspended fund and Hargreaves Lansdown will now be able to switch to a different stockbroker. Thousands of customers were left stranded after Link Fund Solutions, the authorised fund manager, blocked transfers from Hargreaves Lansdown to other platforms. Read more: Woodford investors blocked from switching from Hargreaves [...]
Blue on blue: Three key talking points from the Conservative leadership debate July 10, 2019 It’s that time again. The Tory leadership race is reaching its zenith, and the final two candidates last night took part in the first of several televised Conservative leadership debate head-to-heads as Tories choose the next Prime Minister. Read more: Can Boris Johnson turbocharge the UK economy? In a spirited and at times ill-tempered affair, [...]
Boris Johnson can deliver a bolder economic vision for Britain July 10, 2019 Brexit Britain is at an impasse. Half-in, half-out, with our politics gridlocked, we are now in serious danger of undermining our traditional attractiveness as a magnet for global investment. This week’s quarterly survey of FTSE CFOs by Deloitte shows that 83 per cent expect the UK’s economic prospects to worsen as a result of Brexit [...]
Woodford investors blocked from switching from Hargreaves Lansdown July 9, 2019 Customers that invested in Neil Woodford’s suspended flagship fund through Hargreaves Lansdown have been blocked from switching investment platforms, according to evidence submitted to the Treasury Committee’s inquiry into the scandal. Richard Wilson, chief executive of rival fund supermarket Interactive Investor, said investors had “both hands tied” after Link Fund Solutions, the authorised fund manager, [...]