Boris Johnson and Kenyan president to host global education summit in London July 26, 2021 Prime Minister Boris Johnson will co-host a global education summit with President Uhuru Kenyatta, who arrives in London tomorrow. The summit, which takes place between 28-29 July, aims to raise $5bn to educate children across the developing world over the next five years. The two leaders are expected to discuss the progress across all areas of [...]
Chinese billionaire Larry Chen takes a hit as Beijing cracks down on private education July 26, 2021 Larry Chen, the founder, chairman and chief executive of Gaotu Techedu, has lost his billionaire status as China imposed a regulatory overhaul on the country’s $100bn private education sector. The Chinese authorities released new regulations banning companies to teach school curriculums in order to make profits, raise capital, or go public, Bloomberg reported today. Chen, [...]
Putin warns the world: Russian navy may launch ‘unpreventable’ strike July 26, 2021 The Russian navy can detect any enemy and launch an “unpreventable strike” if needed, President Vladimir Putin has said, only a few weeks after a UK warship angered Moscow by passing the Crimea peninsula. Watch the full report.
LSE-listed Kanabo to buy distributor and stoke European cannabis uptake July 26, 2021 Kanabo, the first medical cannabis company to list on London’s top market, is set to buy a distributing company as it plots expansion into Europe. The deal with Materia, a processor and distributor of medical cannabis and CBD products, will make Kanabo Europe’s largest public cannabis company. Kanabo’s board has been eyeing new partnerships to [...]
Cash holdings: UK corporates’ £109bn warchest increasingly a rival to private equity in M&A July 26, 2021 UK corporates have seen their aggregate net cash holdings rise from £20bn to £109bn since March 2020 and the start of the Covid pandemic, a jump of 500 per cent. The build up in cash balances has been so dramatic that UK corporates are increasingly seen as a serious rival to private equity funds in [...]
Credit Suisse settles spying case with former executive banker July 26, 2021 Credit Suisse has reached an out-of-court settlement with its former star banker Iqbal Khan whose explosive allegations of corporate espionage led to the resignation of chief executive Tidjane Thiam, the Swiss bank said on Sunday. “All involved parties have agreed to settle,” said Credit Suisse, according to the Financial Times. “This matter is now closed.” The [...]
Scottish climber Rick Allen dies in avalanche on K2 July 26, 2021 Scottish climber Rick Allen has died in an avalanche on K2 as he attempted to take a new route to the summit. The Aberdeen-born mountaineer was attempting to climb the world’s second-highest mountain to raise money for the Partners Relief And Development charity. But the 68-year-old was killed when he was caught in an avalanche [...]
Exclusive: London Mayor Sadiq Khan welcomes Hongkongers with open arms July 24, 2021 London’s City Hall announced this week it plans to free up £900k to help tens of thousands of Hong Kong migrants to settle in the capital this year. The financial package is part of a wider strategy to help those fleeing the political turmoil in Hong Kong set up home in London. In an exclusive [...]
Exclusive: London Mayor urges China to respect ‘one country, two systems’ principle in Hong Kong July 23, 2021 London Mayor Sadiq Khan has called on the British government to continue applying pressure on the Chinese government to respect the Sino-British Joint Declaration. In an exclusive interview with City A.M., Khan commented that new laws in Hong Kong have severely limited the rights and political freedom of Hongkongers, which is one of the reasons [...]
China and Russia must “do more” for climate change says Alok Sharma as COP26 nears July 23, 2021 The president of COP26 says climate change affects us all – but that “big emitters” China, India and Russia “need to do more”, as the summit is around 100 days away. The global COP26 climate summit is scheduled to take place in Glasgow in November, after being delayed because of the pandemic. “China, India, Russia [...]