Sunday 15 January 2017 9:31 am “That’s why, if it proves necessary, we have said we will consider time for implementation of new arrangements. Our plans to shift all EU law into UK law at the point of exit will also make the process as smooth as possible.” whatsapp We know Brexit means Brexit, but Theresa May will finally tell the UK exactly what that means this week in the most significant speech of her premiership and setting the course for Britain’s exit from the European Union.The Prime Minister will say that the UK is prepared to leave the Single Market, customs union and the jurisdiction of the European Court of Justice, according to newspaper reports on Sunday morning, as she pushes for an end to free movement in negotiations. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoOne-N-Done | 7-Minute Workout7 Minutes a Day To a Flat Stomach By Using This 1 Easy ExerciseOne-N-Done | 7-Minute WorkoutUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoAtlantic MirrorA Kilimanjaro Discovery Has Proved This About The BibleAtlantic MirrorUndoWarped SpeedCan You Name More State Capitals Than A 5th Grader? Find Out Now!Warped SpeedUndoUnify Health LabsRandy Jackson: This 3 Minute Routine Transformed My HealthUnify Health LabsUndoPost FunMan Files For Divorce After Looking Closer At PicPost FunUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoPensAndPatronTori Roloff Confirms Sad Family NewsPensAndPatronUndo The stance would formalise May’s previously indicated stance that the UK will pursue a so-called hard Brexit. Reiterating hints last week that membership of the Single Market and the customs union are expendable, put pressure on sterling and sent the FTSE to new highs, with analysts predicting more of the same with May’s speech due on Tuesday.Read more: Bye-bye Single Market? What to expect from Theresa May’s Brexit planOn Friday, May met with her New Zealand counterpart, Prime Minister Bill English, where she said the two countries were ready to negotiate a trade agreement, adding another non-EU country to the list of places seeking ties with the UK. However, it will take some time for the UK to be in a position to start working on such deals.Brexit minister David Davies insisted the government has been listening to business, which is largely against a hard Brexit. “We have been listening to what business is saying about the need for certainty wherever it can be brought,” he said, writing in the Sunday Times and hinting at some sort of transitional deal. More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comPuffer fish snaps a selfie with lucky divernypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com Bye-bye Single Market? What to expect from Theresa May’s Brexit plan Lynsey Barber Share A transitional deal would ease Brexit fears in the City.City lobby group TheCityUK last week called for May to secure transitional plans to clear a smooth path to Brexit. Anthony Browne, boss of the British Bankers’ Association said that such arrangements would avoid a “cliff-edge” moment – something Theresa May herself has indicated she wants to avoid.The EU’s chief Brexit negotiator Michel Barnier indicated a desire for a “special” relationship with the City, according to unpublished European parliament minutes published by hte Guardian, to avoid financial instability.Barnier took to Twitter to clarify that this would not be in the form of a “special deal to access the City”, however. whatsapp Meanwhile, chancellor Philip Hammond hinted that Britain could lower its corporate tax rate in response to being denied access to the European Market after Brexit.
Share whatsapp US takeovers in Europe are heading for record levels this year, despite Azko Nobel, the Dutch paints and coatings maker behind Dulux, rejected a €21bn (£18bn) from rival PPG Industries.Some 205 US-Europe deals have been agreed so far this year, according to Thomson Reuters. While the number is down on 263 agreed last year, the total value, $50.1bn (£41.2bn), is the highest at this stage of the year since records began in 1990. US takeovers in Europe hit record levels despite Dulux owner brushing off £18bn approach from PPG Industries Elsewhere, the chief executive of Germany’s Linde yesterday provided an update on his company’s merger with fellow chemicals company Praxair, which is based in the US.Read more: This isn’t an M&A bubble: It’s the start of an unprecedented boom“I am sure you will understand that developing, negotiating and documenting the details of such a complex merger naturally takes time,” Linde’s Aldo Belloni told a shareholder association in a letter seen by Reuters this week.“Speaking from experience with other (often less complicated) mergers, we foresee the whole process taking several months.” William Turvill Azko Nobel said on Thursday that it had rejected an unsolicited offer from PPG, saying it would instead seek to “unlock value” by spinning off its chemicals business.Read more: Standard Life-Aberdeen deal expected to spark asset management M&A flurryChief executive Ton Buchner said: “The unsolicited proposal we received from PPG substantially undervalues our company and contains serious risks and uncertainties.“The proposal is not in the interest of Akzo Nobel’s stakeholders, including its shareholders, customers and employees, and we have unanimously rejected it.“Along with my colleagues on our boards, our executive team and our thousands of employees, I firmly believe that Akzo Nobel is best placed to unlock the value within our company ourselves.” whatsapp Thursday 9 March 2017 1:42 pm Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May Likeanymuscle.comThe 15 cancer-causing foods to avoidanymuscle.comUndoTop BusinessThis tiny house is only 18 m2, but look at its interiorTop BusinessUndoMandala Coloring Book | AmazonFolks agree: mandala coloring books help relieve stress and provide active meditationMandala Coloring Book | AmazonUndoTrendscatchersDog Kept Barking At 3 A.M, So They Set Up A Night Cam And The Footage Left Them Frozen | trendscatchers.comTrendscatchersUndoBeach RaiderFunny Moments Seen In Trail CamsBeach RaiderUndocarammelloWhat are the top 10 most expensive cat breeds in the world ? – CarammellocarammelloUndoLoan Insurance WealthAmal Clooney’s No Makeup Photo: Her Real Face Is Quite DifferentLoan Insurance WealthUndoCelebsland.comLuxury Yachts Owned By the Rich and FamousCelebsland.comUndoYour Money Magic96-Year-Old Puts Her House For Sale. Look How It Looks InsideYour Money MagicUndo
The body will be led by chief executive Stephen Jones, who stepped down from US private equity giant Cerberus to head the group. He has previously worked at Barclays, Citigroup and Schroders, and stepped down as finance director of Santander UK in 2015.Bob Wigley, a City grandee who was formerly Europe, Middle East and Africa chairman of Merrill Lynch and an ex-member of the Court of the Bank of England, will chair UK Finance.The board will include Standard Chartered banker and former head of enforcement Financial Conduct Authority chief, Tracey McDermott. She will join the chief executives of Barclays UK and HSBC UK, Ashok Vaswani and Ian Stuart, on the board.The other board members are: whatsapp Jasper Jolly UK Finance will take on a broad range of important responsibilities, including supplying regular public data on consumer credit and the mortgage market, on top of its major lobbying activities. The formation of UK Finance marks the end of six separate lobby groups which served as the public face of Britain’s financial industries in the aftermath of the global financial crisis, as well as during the Libor benchmark rate-fixing and payment protection insurance (PPI) misselling scandals.Read more: Voice of UK banks bows out with shots at EU over clearing and protectionismThe British Bankers’ Association (BBA), the Council of Mortgage Lenders and the Asset-Based Finance Association will be absorbed by the new body, along with Financial Fraud Action UK, Payments UK and the UK Cards Association.The decision to merge the lobby groups was taken at the end of 2015, after a review found a single body would have a bigger impact and reduce duplication of effort, although there have been no compulsory redundancies so far, City A.M. understands. Some senior members of the bodies have stepped aside, however, with former BBA head Anthony Browne leaving at the end of a five-year term.Stephen Jones, chief executive of UK Finance, said: “The boundaries between banking services are blurring, enabling the industry to become more efficient and customer-focused.” “For the UK’s finance and banking sector, these changes present new opportunities and fresh challenges which require a coordinated voice to best support it going forward. UK Finance will be that fresh voice.”UK banks’ ranks: Household names slip down global ranking, but challengers make up ground Monday 3 July 2017 11:25 am The new voice of British banking: UK Finance launches today with new board members revealed John Jenkins, chief executive, Amicus Finance Paul Lynam, chief executive, Secure Trust Bank Joanna Elson OBE, chief executive, Money Advice Trust Jayne-Anne Gadhia, chief executive, Virgin Money David Duffy, chief executive, CYBG Clare Woodman, global chief operating officer, Morgan Stanley Institutional Securities Group Peter Smith, co-founder and chief executive, Blockchain Paul Gallagher, chief risk officer, UK, Nordics and Greece, Abn Amro Peter Hill, chief executive, Leeds Building Society Joe Garner, chief executive, Nationwide Building Society Ron Kalifa, vice chairman and executive director, Worldpay Miles Celic, chief executive, TheCityUK Vim Maru, group director, customer products and marketing, Lloyds Banking Group Mark Sismey-Durrant, chief executive, Hampshire Trust Bank James Bardrick, UK chief executive, Citigroup Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeAnyMuscle9 early warning signs and symptoms of diabetesAnyMuscleWeniixTop 5 best super sports cars 2021 – WENIIXWeniixAuto carLook: Top 5 best super-GTs 2021 | AutocarAuto carTravelerMasterPhotos of Helen Mirren In Her HeydayTravelerMasterAnswer Mind10 Alzheimer Symptoms You Keep IgnoringAnswer Mindcsoonline.comBrandPost: Simply Protecting Yourself is No Longer Enoughcsoonline.comgethsemanefellowshipministry.orgGethsemane Baptist Church – Striving for Spiritual Excellencegethsemanefellowshipministry.orgVibes SmartWatchHere’s The Smartwatch Every Man in United States Has Been Waiting For!Vibes SmartWatchMagellan TimesThis Is Why The Roy Rogers Museum Has Been Closed For GoodMagellan Times whatsapp The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups.The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org
whatsapp The trade war between the US and China escalated today as the world’s two largest economies imposed tit-for-tat tariffs on goods worth hundreds of billions of dollars.The Chinese commerce ministry said it had to retaliate against America’s decision to levy 10 per cent tariffs on $200bn (£150bn) worth of Chinese goods from 24 September to “defend its legitimate rights and interests”, according to a statement on the State Council’s website. The US tariff level will rise to 25 per cent at the end of 2018. Tuesday 18 September 2018 6:17 pm whatsapp Jasper Jolly China is set to respond to US President Donald Trump’s new levies by imposing duties of five and 10 per cent – less than previously threatened – on an additional $60bn (£45.6bn) of US goods.Read more: Trump accuses China of election meddlingTrump accused the Chinese government of trying to influence midterm elections by targeting agricultural products produced in states with strong Republican votes.He tweeted: “There will be great and fast economic retaliation against China if our farmers, ranchers and/or industrial workers are targeted!”The latest round of tariffs represent a “major escalation”, with the threat of Chinese growth falling below a six per cent annual rate, according to Louis Kuijs, head of Asia economics at Oxford Economics, a consultancy. The trade dispute is weighing on investor sentiment, with optimism among fund managers on global growth prospects hitting a six-year low, according to a survey published today by Bank of America Merrill Lynch. A trade war escalation is the most cited tail risk by investors for the fourth straight month, while a China slowdown is the second biggest risk.Read more: China says it has ‘no choice’ but to retaliate to new wave of US tariffsYet Apple chief executive Tim Cook today said he is “optimistic” the two sides can reach a deal “because trade is one of those things where it’s not a zero-sum game.”“You and I can trade something and we can both win,” Cook told ABC News’ “Good Morning America” programme. “So I’m optimistic that the two countries will sort this out and life will go on.”Markets also remained sanguine, with the S&P 500 and the Dow Jones Industrial Average both gaining ground at the time of writing. Investor reaction was limited as the tariffs were already priced in, according to Larry Hatheway, chief economist at asset manager GAM. However, he warned: “Investors risk being overly complacent about the eventual outcome, which could still escalate with potentially very adverse spillover effects on broader economic activity.”Read more: China’s trade surplus with US hits record $31bn high Tit-for-tat Trump tariffs to take trans-Pacific trade toll Share More From Our Partners Porsha Williams engaged to ex-husband of ‘RHOA’ co-star Falynn Guobadiathegrio.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org
whatsapp Tags: Twitter Crude prices hit a three-month low yesterday after the White House said that it will be allowing eight countries to import limited amounts of Iranian oil in a bid to keep markets stable.Fears of supply shortages simmered down as US Secretary of State Mike Pompeo said that Washington was granting eight wavers.The move follows on from months of volatility within the oil markets, which has mounted on the back of mounting tensions between President Rouhani and President Trump.Crude prices fell back to a three-month low yesterday following the comments, although the White House said has since reiterated its stance that the sanctions will be the toughest ever imposed on Tehran.In a reference to TV series of Game of Thrones and its motto “Winter is coming”, Trump tweeted on Friday: “Sanctions are coming” whatsapp Iranian oil sanctions loom as US gears up for ‘toughest sanctions regime ever imposed’ Saturday 3 November 2018 10:55 am More From Our Partners Supermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Sebastian McCarthy Share Politicians and businesses are bracing themselves for new US sanctions on Iranian oil that are set to come into effect on Monday, in what the White House has branded as its “toughest ever” measures imposed on Tehran.The US is planning to reinstate all US sanctions on Iran removed under the 2015 nuclear deal, in a move that has sent geopolitical shockwaves throughout the world. pic.twitter.com/nk2vKvHuaL— Donald J. Trump (@realDonaldTrump) November 2, 2018Trump withdrew from the US nuclear agreement in May, which was signed in 2015, branding the deal “defective” because it had failed to prevent Iran from developing a ballistic missile programme.
Wednesday 8 May 2019 1:35 pm whatsapp Share Alex Daniel A child reads Trump’s best-selling business advice, The Art Of The Deal (Source: Getty) Here’s five things we’ve learned from the document the President didn’t want people to see.1. Trump lost more than $1bn between 1985 to 1994Over a 10-year period the now-President’s core business interests, including casinos, hotels and apartment buildings, burnt through $1.17bn, the New York Times reports.During this time, the real estate magnate bought New York’s Plaza Hotel in Central Park for $407m, took over a loss-making shuttle operation from Eastern Airlines for $365m and opened the Trump Taj Mahal Hotel and Casino, which opened in April 1990 weighed down by $800m in debt. Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryUndoFilm OracleThey Drained Niagara Falls – Their Gruesome Find Will Keep You Up All NightFilm OracleUndobonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comUndoDefinitionMost Embarrassing Mistakes Ever Made In HistoryDefinitionUndoZen HeraldEllen Got A Little Too Personal With Blake Shelton, So He Said ThisZen HeraldUndoDaily Funny40 Brilliant Life Hacks Nobody Told You AboutDaily FunnyUndoHealthyGem20 Hair Shapes That Make A Man Over 60 Look 40HealthyGemUndoMisterStoryWoman files for divorce after seeing this photoMisterStoryUndoPost FunThe Deadliest Snakes Ever Found On The PlanetPost FunUndo Hours after one of Donald Trump’s closest White House allies, Treasury secretary Steve Mnuchin, formally refused the Democrats’ request for the President’s tax returns late on Monday, the cat was out of the bag.Trump’s much-sought after tax returns reveal massive losses throughout the eighties and nineties for the self-styled master of the deal, topping more than $1bn, according to the New York Times. More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.com New York’s Park Plaza hotel (Source: Getty)2. For two years straight, he appears to have lost twice that of any other individual taxpayer in the USThe worst years in Trump’s decade in the red were, by some distance, 1990 and 1991 – shortly after the Taj Mahal and Casino opened. The art of the deal: Five things we learned from Trump’s tax returns In both, he lost more than $250m, making him the biggest loser of any individual US taxpayer in an annual IRS sampling of high-income earners. Not only this, but both years he lost more than double that of anybody else. ….you would get it by building, or even buying. You always wanted to show losses for tax purposes….almost all real estate developers did – and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!— Donald J. Trump (@realDonaldTrump) May 8, 20195. Trump was drowning in debt even as he released The Art Of The DealTrump’s legendary deal-making tome was released in 1987, the year he bought the Park Plaza hotel, splashed $29m on a 282-foot yacht and lost a total of $42.2m.The Art Of The Deal, full of Trump’s own personal advice to savvy business people, went on to become a best-seller and helped spin his image as a self-made billionaire – a key part of the persona which also won him the presidency years later. whatsapp Tags: Donald Trump People Tax Trump watching the US Open tennis tournament in 1991 – a year in which he lost more than $250m (Source: Getty)3. He didn’t pay income tax for eight of those yearsUnder US law, business owners like Trump can use their losses to avoid paying tax on future income. Such was the extent of his financial woes, that Trump was exempted from paying income tax for eight of the 10 years from 1985.4. The President has denied itAfter years of denying the public knowledge of his losses in the period, Trump’s lawyers are now denying their accuracy. The New York Times quoted a lawyer for the president, Charles Harder, as saying the tax information was “highly inaccurate”.Trump himself took to Twitter this afternoon, in typical ebullient style, to call the New York Times’ report a “highly inaccurate fake news hit job”.
Tory leadership candidate Hunt warns against ‘hardline Brexit approach’ Michael Searles whatsapp Jeremy Hunt has warned against taking a “hard-line approach” to Brexit talks.The foreign secretary and Tory leadership candidate has suggested it would not resolve the current standoff with Brussels, but instead provoke a “hard-line response”. More From Our Partners Fans call out hypocrisy as Tebow returns to NFL while Kaepernick is still outthegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgColin Kaepernick to publish book on abolishing the policethegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMan on bail for murder arrested after pet tiger escapes Houston homethegrio.com Tags: Trading Archive Share Those running to be elected need at least two nominations from fellow MPs to enter the contest, with the field whittled down in a one-by-one series of votes.The final two will go to a decisive vote among Tory members, with the winner elected the new leader and Prime Minister. Read more: Sajid Javid rules out second referendum if he becomes Tory leaderHe is currently one of 12 people running to replace Theresa May as the leader of the Conservative party and Prime Minister.The leadership contest is expected to get underway on June 7, with a result to be confirmed by the end of July.”I don’t think this leadership campaign is ultimately going to be decided by personalities. It is going to be decided by solutions,” Hunt told the BBC.”We need to deliver Brexit and my job is to make sure we have a debate about how we do that,” he added. whatsapp “We must keep no deal [with the EU] on the table. I’ve been very clear that if ultimately there was a choice between no deal and no Brexit and you can only choose one of those two, I would chose no deal, but it’s not a choice that I want to have.”How to tackle the Brexit saga will be the key part of each candidate’s campaigns.The latest person to announce they will run for the position was former chief whip Mark Harper, who said he would rather leave without a deal than remain in the EU.“My preference is to leave with a deal. I think that is what is best for the UK and the constitutional integrity of the UK, but if I am faced with the choice between not leaving at all and leaving without a deal, then I would leave without a deal – keep ‘no deal’ on the table.”Read more: Poll: Tories face worst election result ever in Brexit slump Saturday 1 June 2019 10:57 am
Former Virgin Money boss snubs Bank of England for top Salesforce job Main image credit: Getty Tuesday 6 August 2019 8:22 am Read more: Competition watchdog will probe Salesforce’s massive $15.7bn takeover of Tableau The Bank of England said: “We are of course sorry that Jayne-Anne Gadhia won’t be taking up her role as an external member on the Financial Policy Committee. We fully understand her decision and wish her well for the future.” Gadhia said “I’ve admired Salesforce from afar for a long time. This is a different kind of business, with deeply held values and a true focus on transforming the experience of every customer through cutting edge technology. The US tech firm, which is planning to inject $2.5bn (£2.05bn) into its UK business in the next five years, said Gadhia would begin the role on 1 October. Former Virgin Money chief executive Dame Jayne-Anne Gadhia has shunned a prospective job at the Bank of England to instead head up the British business of software giant Salesforce. Tags: Virgin Money Holdings More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comConnecticut man dies after crashing Harley into live bearnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.com Gadhia, who has also worked for Royal Bank of Scotland, was recognised in the last New Year’s Honours list for her contribution to financial services and women in the finance industry. “I’m looking forward to working with the team as we continue to invest and support Salesforce’s growing customer base in UKI.” The appointment means Gadhia will not take up a planned role on the Bank of England’s financial policy committee, the group which oversees the safety of the financial system. Alex Daniel Salesforce co-chief executives Marc Benioff Keith Block in a statement: “Jayne-Anne is one of the most respected CEOs in the UK and we are thrilled to welcome her to Salesforce.” Read more: Salesforce to buy Tableau Software in $15.7bn deal “The UKI is our largest market outside the US and with Jayne-Anne’s leadership we are well positioned to move into the next stage of growth and success for Salesforce, our customers, partners and communities.” Gadhia’s appointment to the committee would have meant it had three woman members out of 13. Share whatsapp whatsapp Virgin Money CEO Jayne-Anne Gadhia addresses delegates at the annual Confederation of British Industry (CBI) conference in central London, on November 9, 2015. Britain can survive outside the European Union, Prime Minister David Cameron said at the CBI conference, as he denied he was planning to campaign for Britain to stay in the EU regardless of the outcome of reform talks. AFP PHOTO / LEON NEAL (Photo credit should read LEON NEAL/AFP/Getty Images)
But to generate growth now, businesses are putting more money into software, research, design, and branding – intangible assets. Banks aren’t keeping up with the rise of the intangible economy Opinion As a result, banks have reduced their lending to growing businesses that don’t have assets to put up as security. City A.M.’s opinion pages are a place for thought-provoking views and debate. These views are not necessarily shared by City A.M. 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Traditionalists will say that equity funding – whether through venture capital or private equity – is the answer. Often that holds true, but third-party investment does not suit everyone. It also dilutes ownership. whatsapp And the principle applies as much to smaller firms as it does to larger ones. Growing creative businesses, law firms, and even coffee shops rely on branding and intellectual property to help them stand out from the crowd. Without change, old lending models based on providing a hard asset as security will restrict innovation and hurt growth. Just look at some of the most successful companies today: Google succeeds because of its algorithms; Apple has soared due to design and branding; and Uber is worth billions of dollars because of its network and data. These companies are valued so highly because of their intangible assets. Albeit on a different scale, the same is true of many of London’s businesses. Service and technology-based firms dominate the capital’s economic make-up. Of the £37bn annual export of goods and services from London, financial and business services account for around £15.5bn. Without access to suitable finance, the best outlook for a small but growing firm might be to sell to a larger counterpart. So rather than struggle to find funding that they need, business owners can leverage their new parent company’s financial clout and implement their growth plans – albeit at the cost of their independence. whatsapp Friday 30 August 2019 5:58 am What’s caused this issue? Well, over the last 20 years, business has evolved. To spur growth in the twentieth century, companies might have invested in property, machines, and hardware – tangible assets. Dominic BuchDominic Buch is the co-founder and managing partner of Caple. Tags: Alternative finance Startups Instead, lenders must look at the future of a business and assess what cash flows it will generate. It is the intangible assets in a business that drives future cash flows more than its fixed assets, and this free cash can be used to service debt instead of equity. This type of financing, known as cash flow lending, helps to foster the growth of SMEs in our new economy. Share But the financial system has failed to keep pace with innovation. Lending models, especially for smaller businesses, are not designed to support the intangible economy. Considering that growing businesses are a vital part of our economy, this creates both a critical brake on growth and a drain on productivity. The lack of lending also contributes to the broader issue of why the UK fails to generate new global behemoths. When innovation is so important for growth and prosperity, we must do all we can to help fund that innovation in the intangible economy. We therefore need lending that is fit for purpose. The same is true of business finance. When firms take out loans to fund growth, those loans are traditionally based on the business’s tangible assets, such as its property or machinery. So what’s the solution? Innovation is the key to growing the economy and creating prosperity. It creates new industries, transforms old ones, and often generates well-paid jobs. If a business with tangible assets folds, a bank can recover its money by selling those physical assets. In such a situation, the bank is happy to take the risk. But if a company with intangible assets folds, those assets cannot as easily be sold off. While value is built in intangible assets, finance is raised against tangible ones, which are diminishing. Yet economies struggle to capture the value of these companies because accounting standards have not kept up.
Friday 27 September 2019 7:31 am That follows Johnson saying in parliament that the way to honour murdered Labour MP Jo Cox would be by delivering Brexit. whatsapp “But if we don’t succeed in the end, the responsibility would lie exclusively on the British side.” “Our chief negotiator Michel Barnier and I are doing everything possible to get an agreement,” he told German publication Augsburger Allgemeine. “We will want to and need to seal a free trade agreement,” Juncker added. whatsapp Main image credit: Getty Juncker’s comments come as Johnson’s chief adviser, Dominic Cummings, said the only way MPs can defuse public anger is by delivering Brexit. by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeDaily FunnyFemale Athlete Fails You Can’t Look Away FromDaily FunnyNoteableyJulia Robert’s Daughter Turns 16 And Looks Just Like Her MomNoteableyPast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryMisterStoryWoman files for divorce after seeing this photoMisterStoryzenherald.comDolly Finally Took Off Her Wig, Fans Gaspedzenherald.comYourDailyLamaHe Used To Be Handsome In 80s Now It’s Hard To Look At HimYourDailyLamabonvoyaged.comThese Celebs Are Complete Jerks In Real Life.bonvoyaged.comJournalistateTeacher Wears Dress Everyday, Mom Sets Up CamJournalistatePost Fun25 Worst Movies Ever, According To Rotten TomatoesPost Fun Juncker said he and chief EU negotiator Michel Barnier were doing their utmost to secure a Brexit deal, but the bloc would not accept any blame if efforts end in failure. Read more: Boris Johnson condemned for Jo Cox comments Former PM Theresa May negotiated a deal over two years only for MPs to reject it three times over concerns around the so-called Irish backstop. In response 120 archbishops and bishops have warned against “further entrenching our divisions”. He warned a no-deal scenario would be catastrophic for the UK and the EU. Meanwhile, City A.M. exclusively revealed yesterday that Johnson may use EU law to ensure Brexit is delivered. Government figures believe they can invoke European law’s supremacy over British law to bypass the Benn Act, which forces Johnson to seek a Brexit delay until 31 January if no deal is in sight by 19 October. Share Joe Curtis May’s deal was rejected over fears the backstop would indefinitely tie the UK into a customs union with the EU. The PM has not apologised for what critics have called inflammatory language he used in parliament. European Commission president Jean-Claude Juncker has said the blame will lie with Britain if it leaves the EU in a no-deal Brexit. So far Britain has not offered an alternative to the backstop, which is designed to prevent a hard border in Ireland after Brexit. Read more: Exclusive: Government plans to invoke EU law to guarantee Brexit With the UK set to leave the EU on 31 October, reports suggest Brussels diplomats are unimpressed with Prime Minister Boris Johnson’s efforts to land a fresh agreement. EU’s Juncker says Britain to blame if stalemate ends in no-deal Brexit “But that won’t happen just like that, as some in Britain imagine. Some of the trade deals we sealed in my term of office took many years to reach.” Tags: Brexit