Venezuela’s Nicolas Maduro calls for gold held in Bank of England to be returned February 12, 2019 Venezuela’s embattled President Nicolas Maduro said yesterday that the Bank of England should repatriate the Venezuelan gold it holds in its vaults. “They have sequestered billions of dollars in gold in London that are ours – that is money to buy supplies, raw materials, food, medicines. They have sequestered $1.4bn [£1.09bn] for many months, that we [...]
US market braces itself for US-China trade talks February 12, 2019 | City Talk This week marks a resumption of trade talks between China and the US, so expect to see movement on the US equity markets as the headlines hit. Preliminary talks began on Monday and saw the US team fly to Beijing to try and close the gap – and tension – between the two nations when [...]
Sadiq Khan announces shakeup of severance pay for departing TfL staff February 12, 2019 Sadiq Khan has announced a shakeup of Transport for London (TfL) pay agreements after £51m was paid out to departing staff last year. City Hall has said it will reduce notice periods, in which those made redundant can claim pay, from 12 months to six months for future managing directors and from six months to three [...]
May sets deadline for EU negotiations over Brexit backstop changes February 12, 2019 Theresa May today told MPs that they would get another vote on the next steps in the Brexit process later this month if she fails to secure changes from the EU. Parliament will get to vote on the path forward on 27 February – a month before the UK’s scheduled departure from the bloc – if [...]
Bipartisan group reaches deal to avoid another US shutdown over Mexico border wall – but will Trump support it? February 12, 2019 US politicians thrashed out a finance deal late last night to prevent a renewed government shutdown, but fears loomed over whether President Donald Trump would support the deal. Republicans and Democrats secured an agreement which included just under $1.4bn (£1bn) for 55 miles of fencing to be built along the US border with Mexico. Read [...]
Theresa May to tell MPs to hold their nerve over Brexit February 12, 2019 Prime Minister Theresa May is expected to tell MPs today to hold their nerve in the UK’s game of brinksmanship with the EU over Brexit. May is due to make a statement to MPs at 12.30pm ahead of a debate on Thursday on the next steps for Brexit. “We now all need to hold our nerve,” [...]
Debenhams secures £40m cash lifeline in fight for survival February 12, 2019 Embattled department store chain Debenhams saw its shares jump 35 per cent this morning after it secured a £40m cash injection, as it fights to keep afloat amid crunch debt talks with lenders. The retailer, which has issued three profit warnings in the last 12 months, said that the agreed £40m loan will "act as a bridge to facilitate a [...]
Philip Hammond’s ‘Brexit deal dividend’ claim under attack from MPs February 12, 2019 Philip Hammond’s promise of a Brexit dividend has been called into question amid signs of sluggish economic growth and warnings of a knock-on effect for the public finances. Figures released on Monday showed the UK economy grew by just 1.4 per cent in 2018 – its slowest rate for six years – while growth in the [...]
The Great Russian Firewall: Putin’s unplugging his country from the internet February 11, 2019 Russia is preparing to detach itself from the rest of the world by briefly disconnecting from the internet, as it readies for future cyber warfare. The test, due to be held before 1 April, will keep all data circulating between Russian citizens and organisations within the country's borders rather than passing through international routes. The move [...]
To buy or not to buy: The never-ending twists in Mike Ashley’s retail plan February 11, 2019 What on earth is Mike Ashley’s plan? That is the question echoing around the City every time the retail tycoon emerges as an unlikely buyer of another beleaguered high street brand. It is almost a weekly occurrence these days, and one that leaves journalists, shareholders, and even some of Ashley’s own directors scratching their heads [...]