Huawei CFO hopes to avoid US extradition after Trump’s ‘corrosive’ comments May 9, 2019 Lawyers for Huawei’s chief financial officer have said she will seek a stay of extradition, citing a string of civil rights abuses including comments made by US President Donald Trump about the case. Meng Wanzhou, who is the daughter of Huawei founder Reng Zengfei, was arrested in Vancouver in December on allegations relating to the [...]
We must not attempt to bring the failed Iran Deal back to life May 9, 2019 The Joint Comprehensive Plan of Action (JCPOA), signed in a fanfare of publicity in 2015 between Iran and six countries, was hailed at the time as the way to curtail Iran’s nuclear ambitions. In exchange for suspending its nuclear programme, Iran would secure massive sanctions relief. The world would be free from the menace of [...]
Debenhams versus Mike Ashley: Something has gone horribly wrong May 9, 2019 Magpies are among the world’s cleverest animals. Prone to cunning theft from other nests, they enjoy a surprising degree of protection. Foiled Debenhams suitor Mike Ashley won’t miss the irony that while his Newcastle United Football Club is nicknamed after these swooping robbers, a marauding band of debtholders have led a planned effort to steal [...]
The City powers the UK economy – it must not fall into Labour’s hands May 8, 2019 Despite the best efforts of a few valiant voices, the City (and its interests) received a shameful lack of attention during the Brexit debate and has been largely left to fend for itself ever since. Read more: What the next Bank of England governor’s CV looks like However, the race to succeed Mark Carney at [...]
Provident Financial says hostile bidder Non-Standard Finance is overvalued May 8, 2019 Provident Financial today said it had concerns about the valuation of Non-Standard Finance (NSF) which is trying to take it over. Provident said it had concerns NSF was undercapitalised, it said NSF’s business was facing “significant headwinds”, it said there was an overly positive perspective on NSF’s headline financial performance and said NSF was overvalued [...]
Theresa May to hold meeting with top Conservative committee over her departure timetable May 8, 2019 Theresa May has agreed to a crunch meeting with a powerful group of Tory MPs who have the authority to change party rules and force her from office. The Conservative leader will address the executive members of the backbench 1922 committee next Wednesday as pressure grows on her to resign from office. She will be [...]
Tensions mount as Trump and Congress face off over Mueller report May 8, 2019 The political battle on Capitol Hill escalated this evening as Congress sparred with President Donald Trump over access to special counsel Robert Mueller’s full report on Russian interference in the 2016 US presidential election. Read more: Trump says he knows why China U-turned on US trade deal Trump moved to block an effort by House Democrats [...]
US secretary of state Mike Pompeo invokes Iron Lady as he slams UK over Huawei decision May 8, 2019 US secretary of state Mike Pompeo has ramped up the rhetoric against Huawei, invoking the legacy of former Prime Minister Margaret Thatcher as he urged the UK to take a tougher line on the Chinese tech firm. In an impassioned speech, Pompeo slammed the UK’s reported decision to allow Huawei to build parts of its [...]
Chris Grayling could be forced to take the stand as Stagecoach launches legal action over franchise snubs May 8, 2019 Beleaguered transport secretary Chris Grayling could be called to the stand to defend the government after Stagecoach formally launched legal action over its decision to disqualify it from three rail franchises. After weeks of tension, Stagecoach formally launched legal action against the Department for Transport (DfT) over its decision to disqualify the firm from the [...]
Tesla closes $2.7bn offering as it raises cash to fuel expansion plans May 8, 2019 Electric car company Tesla said today it had closed its $2.7bn (£2.08bn) offering of stock and convertible notes in an offering it said was oversubscribed. The fundraise gives Tesla some much needed cash as it tries to boost production. Tesla sold about $1.84bn in debt and $860m shares, with underwriters exercising their option to buy [...]