Payday loan company Wonga has collapsed. The company have announced that they are entering administration after a surge in compensation claims. The company say they have exhausted all other options. The company will still manage existing loans however they will no longer be accepting loan applications.
Labour MP Frank Field resigns the party whip. He has described the party as a ‘force for anti-Semitism’. His resignation letter has also accused the party of having a culture of bullying. He will now sit as an independent Labour MP and not be subject to the instructions of the whips.
Panasonic is moving their Headquarters from London to Amsterdam. The move will come in October which company Chief Executive Laurent Abadie has stated that it is to avoid Brexit related tax issues. This comes after several other Japanese firms have announced they are moving their headquarters into the EU.
And in other news,
Londoners are set to fly a giant baby blimp of Sadiq Khan in a yellow bikini. The blimp is akin to a ‘Trump Baby’ balloon that the London Mayor gave permission to be flown during the president’s visit. Khan said of the blimp ‘ if people want to spend their Saturday looking at me in a yellow bikini they’re welcome to do so – I don’t really think yellow is my colour though’.
From the speakerpolitics news desk, you are up to date.