Some CBI members would be tempted by customs union exit, says Fairbairn December 7, 2016 CBI director general Carolyn Fairbairn has told MPs that leaving the customs union would have “pros and cons” for many of her business group's members, with many tempted by a free hand in trade negotiations. Addressing Parliament's, Brexit select committee, Fairbairn said that while the CBI had not yet taken a view on leaving the [...]
Numis boss glosses over sterling’s demise after posting record revenue growth December 7, 2016 Stockbroker Numis raked in the cash after posting its best ever revenue growth over the last year. Despite 2016's shock events one of Numis’ two co-chief executives said he was feeling positive about next year. “We’re expecting M&A activity to pick up next year, after a relatively flat period,” Ross Mitchinson, co-chief executive, told City A.M., adding, “Brexit [...]
Tata and unions agree to rescue plan for the Port Talbot steel works December 7, 2016 Tata Steel has forged an agreement with the UK’s largest steel unions to rescue the Port Talbot steelworks and other sites, throwing a lifeline to 11,000 jobs provided that changes can be made to the British Steel Pension Scheme (BSPS). Senior union representatives met Tata Steel executives yesterday to hammer out the deal, which will [...]
Australia GDP growth goes down under zero for the first time in five years December 7, 2016 Australia’s economy contracted for the first time in more than five years in the third quarter, as investment in housing and by businesses dropped steeply. The quarterly growth rate of Australian gross domestic product (GDP) fell from 0.5 per cent in the second quarter to a contraction of 0.5 per cent from July to September. [...]
Icap charity day: Here are some pictures of celebrities on the phone December 7, 2016 The, er, goodwill was clearly flowing during Icap's annual charity trading day, in which celebs descended on the company en masse to raise cash for two HIV charities. Bigwigs including newsreader Jon Snow, Prince Harry and even X Factor's Honey G were on hand to raise money for charities Sentebale, the charity which runs camps for [...]
Camden Town Brewery, one of London’s leading craft beer brands, is launching in NYC December 7, 2016 Calling all British craft beer fiends: Camden Town Brewery will launch its flagship Hells lager in New York City this month. The craft beer brewer was acquired by global industry leader AB InBev for £85m about a year ago and has received significant investment from the brand's high end division, enabling it to launch into new markets and build a new, purpose-built [...]
UK GDP growth stayed steady at 0.4 per cent while fall in migration would harm economy, says Niesr December 7, 2016 Migration controls could leave the UK economy up to 1.19 per cent poorer by the end of this Parliament, says an influential think tank, as it estimates that growth in the last three months was unchanged at 0.4 per cent. The growth rate of UK gross domestic product (GDP) for the three months ending in [...]
David Davis says it is “inconcievable” that MPs won’t get a vote on the final Brexit deal December 7, 2016 Brexit secretary David Davis has said MPs will get a vote on the final terms of a new relationship with the European Union. Speaking in the House of Commons today, Davis made clear the government's support for "the spirit" of a Labour motion demanding it publishes a plan for its talks with the EU, "with [...]
The UK City watchdog’s so good at fintech it’s going to teach Hong Kong December 7, 2016 The UK's forward thinking City regulator is exporting its fintech expertise, partnering with authorities in Hong Kong to foster innovation in finance. The Financial Conduct Authority (FCA) and the Hong Kong Monetary Authority (HKMA) to share its knowledge and promote innovation between the two countries. It's the latest example of the UK collaborating with other [...]
Amazon-mageddon: Prices set to rise online due to lack of warehouse space December 7, 2016 Rock-bottom prices for online products may end if the UK doesn't build a shedload more warehouses. The rapid expansion of online retailers is expected to lead to a shortage of warehouse space, which would push up rents, and ultimately the price of goods. Read more: MPs pay surprise visit to Sports Direct's Shirebrook warehouse It is [...]