Tesla looks to strengthen with $2.3bn fundraising round May 2, 2019 Tesla will look to raise around $2.3bn (£1.76bn) by issuing new shares and debt, with chief executive Elon Musk pitching in $10m of his own cash to buy shares. The electric car maker said this afternoon it has filed with regulators to launch the fundraising, after it lost $700m in the first three months of [...]
Five moments we’ll always cherish from Gavin WIlliamson’s time as defence secretary May 2, 2019 Historians will look back on former defence secretary Gavin Williamson as one of the more colourful figures in Theresa May's Cabinet. Read more: Defence secretary Gavin Williamson ousted from cabinet over Huawei leak Williamson, who was last night sacked over allegations he leaked information from a top secret security meeting, experienced a series of gaffes [...]
Bank of England upgrades UK growth forecast as household spending boosts economy May 2, 2019 The Bank of England once again voted to keep interest rates on hold today, as it painted a picture of an economy propped up by household spending as Brexit uncertainty continues. Read more: Morning Wire's shadow MPC votes to hold interest rates despite recent growth Threadneedle Street also upgraded Britain's 2019 economic growth forecast to 1.5 [...]
Climate change protesters target Bank of England MPC meeting May 2, 2019 Climate activists protested outside the Bank of England this morning calling for the institution to go green, ahead of the release of its inflation report this afternoon. Demonstrators from Positive Money and Fossil Free London urged the central bank to make its quantitative easing programme environmentally friendly by stopping asset purchases in high-carbon sectors and [...]
Calls grow for criminal inquiry into Huawei leak after Gavin Williamson sacking May 2, 2019 Calls are mounting for a police inquiry into the leak of confidential information from a top secret security committee that led to the sacking of defence secretary Gavin Williamson yesterday. Prime Minister Theresa May fired Williamson last night following an investigation into a leak from a meeting of the National Security Council, which revealed the government’s [...]
When the boss jumps ship, it’s up to employees not to rock the boat May 2, 2019 When Royal Bank of Scotland announced that chief executive Ross McEwan was stepping down, it didn’t take long for the news to turn to talk of remuneration packages and successors. This response is to be expected, but it does leave an important question unanswered: how will employees at the front line of the firm be [...]
From Bercow to Corbyn, Trump’s UK visit has exposed a nest of political hypocrites May 2, 2019 No sooner had the announcement been made that President Donald Trump would be making a state visit to the UK in June than a predictable flurry of criticism emerged from a group of the usual suspects. Leading this crowd of dissenters who have said that they will refuse to attend a state dinner with our [...]
Theresa May moves away from ‘no deal is better than a bad deal’ Brexit pledge May 1, 2019 Theresa May said she was talking in the “abstract” when she claimed “no deal is better than a bad deal” during a grilling over the Brexit stalemate. Appearing before parliament’s powerful Liaison Committee of leading MPs, the Prime Minister repeatedly refused to say whether she would back the UK leaving the EU without an agreement [...]
US Federal Reserve opts to hold interest rates in strong labour market May 1, 2019 The US Federal Reserve said today it was not raising interest rates, citing a strong labour market with solid economic activity. The Fed said it would maintain its target rate at 2.25 to 2.5 per cent. It said the labour market remains strong and economic activity rose at a “solid rate”. It said job gains have [...]
Is it time for Mike Coupe to check out as Sainsbury’s boss? May 1, 2019 Mike Coupe was met with rapturous applause from his fellow directors when he stepped up to the microphone this morning, as he hailed the coming of an era in Sainsbury’s history that would see it thrive having merged with long-time rival, Asda. Coupe spoke boldly about price cuts and cost savings, and finished with a [...]