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Posted by: Matt Clayson
29/09/2017

 

Uber’s chief executive in talks with commissioner of London’s Transport. Uber is seeking to regain its licence so it can continue to operate in one of its most important markets. Mr Khosrowshahi will visit London on Tuesday to meet TfL Commissioner Mike Brown. as the company seeks to recover from the TfL ruling. TfL and Sadiq Khan, who chairs the transport body, have also come under pressure from a petition signed by more than 822,000 people demanding that TfL renew the company’s licence. The meeting on Tuesday has more than one aim; Mr Khosrowshshi has apologised and vowed to transform the corporate culture at Uber and to address TfL’s concerns. Uber’s software currently prevents the regulator from checking on its operations, and also failure to report some alleged sexual assaults by its drivers further led to the revoke of its licence. Mr Khan has confirmed the meeting and said that the two sides were engaged in a legal battle. The license expires next Saturday and Uber were only told last Friday, leaving them another 2 weeks of a 21 day period to continue operating. The decision to withhold the licence was purely TfL’s in its position as a regulator rather than a political one by the London mayor. (Source – The Financial Times)

Britain is committed to European Security said Theresa May. As the UK prepares for Brexit the prime minister has reaffirmed that Britain is unconditionally committed to maintaining security cooperation with the EU. During a joint visit to the military base in Estonia with the French President Theresa May has said ‘threats from Russian aggression to illegal migration and cyber security made the security in the Union increasingly vital. When a nation like Russia deliberately violates the rules-based international order that we have worked so hard to create, we must come together with our allies to defend that international system.’ May added that while we are leaving the European Union, we are not leaving Europe. Russia’s continued aggression represents a growing danger to Estonia as well as Latvia, Lithuania and Poland. May continues to be in Estonia for a summit of EU leaders, who all vowed to remain united through the Brexit talks. (Source – The Guardian)  

London house prices fell for the first time in eight years. Since the height of the financial crisis London’s housing market is underperforming against the rest of the UK according to reports from Nationwide. The average house price in the capital is £471,761 down by 0.6% between July and September compared with the same period last year, and was the worst performance since the third quarter of 2009 when the UK’s economy dealt with the near collapse of the global banking system. The capital was the weakest performing region for the first time since 2005. On a National level, house prices rose 2.2% to £210,982. Annual growth rates for the South of England have moderated towards those prevailing in the rest of the country, while London’s marked slowdown, falling in annual terms for the first time in 8 years. The UK’s overall house prices were being propped up by low mortgage rates, high employment and a shortage of properties. Bank of England policymakers have hinted that they were nearing the point of raising interest rates for the first time in more than a decade, currently rates are at an all time low of 0.25% which could increase to 0.5% as early has November. (Source – The Guardian)

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