Theresa May is now the bookies’ favourite to become Tory leader, while Angela Eagle and Lisa Nandy edge ahead for Labour June 28, 2016 Theresa May has overtaken Boris Johnson as the bookies' favourite to be the next elected leader of the Conservative Party. William Hill punters have strongly backed the home secretary, leading the bookie to shorten its odds to 11/10. Boris Johnson is now the second favourite at 11/8 odds while Brexit campaigner and minister of state for energy Andrea Leadsom is third at [...]
French economy minister Emmanuel Macron calls for timely EDF decision on Hinkley Point post-Brexit vote June 28, 2016 The French economy minister has heaped pressure on state-backed utility giant EDF to make a timely decision on its Hinkley Point project following the Brexit vote. Emmanuel Macron's comments were made during a nuclear conference in Paris. He also warned that further delays to the final investment decision (FID) could add more uncertainty to the £18bn nuclear power plant. Read [...]
“Who’s laughing now?” Ukip leader Nigel Farage calls for “grown up” deal after Brexit as he mocks MEPs to a chorus of booing June 28, 2016 Leading Leave advocate Nigel Farage has called for a "grown up, mature" deal between the EU and UK after a historic Brexit vote last week. Speaking to the European Parliament, Farage said trade is mutually beneficial, and that a "sensible trade deal" would result in a great friendship between the soon-to-be 27-member bloc and the [...]
Retailers’ share prices are on the up as markets recover slightly June 28, 2016 Shares in retailers including Next, M&S and Associated British Food were on an upward trend this morning as stock markets recorded their first gains since the UK voted to leave the European Union. In morning trading, M&S' share price was up 5.10 per cent, Next's rose 8.40 per cent and Associated British Foods' shares climbed [...]
Don’t rock the legal sector post-Brexit vote, pleads Law Society chief executive June 28, 2016 The Law Society's chief executive has today urged policymakers not to pick away at regulation surrounding the legal sector so close to the EU referendum result. Speaking ahead of a justice committee hearing on legal services regulation, Catherine Dixon warned that key legal changes that could be sparked by Brexit would take years to put [...]
Mario Draghi pleads for central banks to work together and warns against currency wars June 28, 2016 The president of the European Central Bank (ECB) wants institutions around the world to work together to raise inflation and has criticised those who try to instigate currency wars. Mario Draghi told a forum in Lisbon this morning collaboration between regulators, governments and central banks was essential in the globalised world and could help deliver more [...]
EU referendum: MEPs vote for UK to trigger Article 50 “as soon as possible” as Jean-Claude Juncker says UK must clarify position and Angela Merkel says EU market access entails “obligations” June 28, 2016 The European Parliament has called for the UK to trigger Article 50 "as soon as possible". MEPs earlier today passed a motion calling for the UK to commence formal negotiations by activating Article 50. It came after a debate in which European Commission President Jean-Claude Juncker reasserted his view that the UK should make haste on triggering [...]
What doesn’t kill you makes you stronger? Housebuilder shares stage partial recovery June 28, 2016 Housebuilders showed that any reaction is a good reaction this morning, after almost all their share prices staged partial recoveries following yesterday's carnage. FTSE 100-listed Barratt, Berkeley Group, Taylor Wimpey and Persimmon all triggered the London Stock Exchange's circuit breaker yesterday, meaning their shares were suspended from trading for five minutes after they fell more than [...]
People are buying fewer diamonds now it’s summer, according to De Beers June 28, 2016 Diamonds have lost some of their sparkle to customers as the annual sales dry spell during the summer months gets underway. De Beers announced today that sales in the fifth "cycle" of 2016 reached $560m, down from $636m during the fourth cycle. However, the diamond giant has assured this is in line with typical seasonal demand, [...]
Fastjet’s share price drops as it announces plans to raise funds to turn around fortunes in tough market June 28, 2016 African budget airline Fastjet has announced plans to raise funds to overhaul its operations amid a challenging environment. The airline has said that its operating environment "remains challenging" as it continues to cope with lower than expected passenger numbers and negative cashflow. Read more: Turbulent year hits African budget airline Fastjet The Africa-focussed airline's share price [...]