Forget Brexit – the British economy is running out of money January 17, 2019 The media circus around Brexit is currently the focus of virtually all economic commentary on the UK. This fixation is so all-consuming that we risk missing another real threat to the economy: the dramatic slowdown in the growth rate of broad money This refers to the total amount of money in the economy. There is [...]
Stopping the clock: Can we buy more time to figure out Brexit? January 17, 2019 The UK is running out of time before it leaves the EU. The Prime Minister’s deal now lies in tatters, but what happens next is anyone’s guess. A General Election will take at least a month, and any new government would clearly want to renegotiate the exit deal. Alternatively, a second referendum would take months [...]
Piccadilly Line commuters warned of severe delays January 17, 2019 Severe delays are affecting the Piccadilly Line this morning due to a signal failure. The failure at Northfields means the Tube line has severe delays between Acton Town and Uxbridge, as well as minor delays between Acton Town and Heathrow Airport. Read more: 'Systemic failures' to blame for May's timetable chaos Minor delays are also [...]
Another false Economy: Energy customers were hit by mystery meter readings January 17, 2019 Customers of failed provider Economy Energy say they were hit with mystery meter readings far higher than expected in December as the company fought for its survival. One of the readings, seen by City A.M., inflated a customer’s monthly usage by over 12,000 units, equivalent to around three years’ average use for a household in [...]
London housing market faces negative outlook for start of 2019, warn surveyors January 17, 2019 Fresh fears for the future of London’s subdued property market were brought to light this morning, with forecasts for growth in the capital hitting their lowest levels in two decades. As uncertainty bites both buyers and sellers, a record number of surveyors are predicting that activity in the capital will remain negative over the next [...]
Michael Gove tears into Jeremy Corbyn as government defeats no confidence vote January 16, 2019 Theresa May survived a vote of no confidence in her government on Wednesday after a barnstorming speech from Michael Gove tore apart the Labour leader’s claim to be the next Prime Minister. Labour leader Jeremy Corbyn tabled the motion after May’s Brexit deal was heavily defeated on Tuesday night in a bid to force a general [...]
Jeremy Corbyn refuses to hold talks with May about Brexit until she rules out ‘no deal’ January 16, 2019 Brexit was plunged into fresh chaos on Wednesday after Jeremy Corbyn refused Theresa May’s invitation for a meeting to thrash out how to break the deadlock among MPs. The Prime Minister made the offer after her government survived a vote of no confidence by MPs, saying she wanted to work with opposition leaders to end the [...]
Berkeley Group chairman Tony Pidgley on Brexit, buildings and bonus backlashes January 16, 2019 Tony Pidgley is a staunch defender of his trade, as you would expect Britain’s best-known housebuilder to be. So it comes as something of a surprise when, asked about the huge row that hit his sector last year when fellow housing boss Jeff Fairburn took a £75m bonus, he does not come down on Fairburn’s [...]
Marks & Spencer launches plastic packaging-free fruit and vegetable trial to try and cut plastic waste January 16, 2019 Marks & Spencer launched a trial today of plastic packaging-free fruit and vegetables at its Tolworth store as it moves to cut the amount of plastic it uses. The retailer said it had introduced trained greengrocers to advise customers on the over 90 lines of loose fruit and vegetables it was selling from two aisles. [...]
Goldman Sachs chief executive apologises to Malaysian people over 1MDB scandal January 16, 2019 Goldman Sachs chief executive David Solomon has apologised to the Malaysian people for former banker Tim Leissner’s role in the 1MDB sovereign wealth fund scam. Last year US prosecutors charged two former bankers with the theft of billions of dollars from IMDB and Leissner pleaded guilty to conspiracy to launder money and agreed to pay [...]