7 Things You Need To Know (16/3/17)
Please note this blog post was published over 12 months ago and so may not include the most up-to-date information, for example where regulation around investing has changed.
Welcome to our “Things You Need To Know” daily update. Every day we’ll be here for you, summarising the key talking points in as quick of a time as possible.
1. Record Fine For The Conservative Party
The Conservatives have been hit with a record £70,000 fine from the Electoral Commission.
Spending rules were broken by the party, including missing payments worth at least £104,765 in the 2015 UK General Election. There were also other discrepancies, including the 2014 By-Elections.
The Electoral Commission said a “realistic prospect” existed that an advantage was gained from the spending rules being broken.
2. Trump Travel Ban Is Blocked For Second Time
President Trump’s 90-day ban on citizens of Six countries entering the United States has again been blocked.
Federal judges in Hawaii and Maryland questioned if the ban was legal in light of the First Amendment, causing the ban to be blocked for a second time.
Mr Trump remains defiant. He will take this case as far as it needs to go, claiming the ban is vital to protect America from terrorist threats. He stated the blocking is “unprecedented judicial overreach”.
3. Toyota Not Put Off By Brexit
Toyota will invest £240 million in its UK factory near Derby. With this representing a long term commitment to production in the UK, it will come as welcome news to the British government as they start the two year Brexit process.
4. Fox’s Sky Bid To Scrutinised
UK Culture Secretary Karen Bradley has instructed regulators to look into 21st Century Fox’s takeover bid for Sky.
Rupert Murdoch’s company is offering £11.7 billion for the 61% stake in Sky which would give it full control.
There are concerns amongst Murdoch’s critics that he would own too much of the UK media if the deal went through.
5. IMF Letter Bomb
The International Monetary Fund in Paris has been targeted by a letter bomb. One employee was injured when the letter exploded, causing hand and facial injuries.
The BBC are reporting that a Greek far left group, The Conspiracy Of Fire Cells, are taking responsibility for the attack.
6. FTSE 100 Record High
The FTSE 100 has hit a new record high, following on from the US Federal Reserve raising interest rates.
The new record is over the 7400 mark that was set earlier this month.
British interest rates remain at the record low of 0.25%
7. Dutch Election Result
Mark Rutte has won his third term as Prime Minister of the Netherlands.
Yesterday’s election result saw right wing populist Geert Wilders’ Freedom Party defeated. The entire process had been viewed as a test on how right wing populism was spreading globally. With elections coming up in France and Germany, the defeat of Wilders will be seen as a reassuring sign. Indeed, the Euro was up following the result.
