Downing Street rules out customs union with EU as Leavers warn of “abuse of language” February 5, 2018 The Prime Minister has ruled out the UK remaining in the customs union with the EU, after another week of confusion and infighting between the government’s Brexit factions. Downing Street was last night forced to intervene after yet another minister suggested there might be a loophole on the issue. A source said “it is not [...]
Lloyds Bank, Bank of Scotland, Halifax and MBNA ban bitcoin and other cryptocurrency credit card purchases February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, as a wave of banks around the world fear being on the hook for big losses if the cryptocurrency sell-off continues. The ban, which comes into effect today across all of the British banking giant’s brands, will mean cryptocurrency exchanges [...]
Planning reform must be bold and decisive for housebuilding to thrive February 5, 2018 Almost all of the noise coming out of Westminster concerns Brexit. But amid the sound of Leavers and Remainers shouting over each other, some ministers are determined to make their voices heard on other matters. Take Sajid Javid, for example. The secretary of state for communities and local government survived the recent reshuffle and emerged [...]
Don’t listen to the naysayers: The City is Brexit-proof and will remain the world’s financial hub February 5, 2018 The City of London is in a strong position to maintain its status as the world’s financial capital. Many of the City’s strengths are deeply embedded and therefore “Brexit-proof”. Moreover, London is in pole position to become the centre of global fintech. But we cannot be complacent. The international environment is competitive. The biggest challenge [...]
The UK must not get left behind by China’s rise as a new superpower February 5, 2018 Last week, the Prime Minister visited China, a country set to have the largest economy on Earth by 2030. Its rapid growth is expected to continue for another generation. In 2016, foreign direct investment from China reached $180bn – a striking figure when compared with 2002, when it totalled less than $5bn. The sophistication of [...]
DEBATE: Will Janet Yellen’s departure from the Federal Reserve signal a shift in US monetary policy? February 5, 2018 Will Janet Yellen’s departure from the Federal Reserve signal a shift in US monetary policy? Vicky Pryce, CEBR board member and former joint head of the Government Economic Service, says YES. Janet Yellen stepped down last Saturday after having headed the Federal Reserve for the past four years – the first woman to have ever [...]
Numis strengthens hold on top-tier AIM clients while FinnCap takes biggest share of junior market February 5, 2018 Numis Securities shored up its position as the top broker to the largest companies on London’s junior market in the latest rankings, while FinnCap stuck it out at the top of overall rankings. FinnCap was broker to the highest number of clients on the Alternative Investment Market (AIM) in January, despite losing four since October, [...]
UK exports in financial services jump to £95.7bn with London leading the pack February 5, 2018 Britain’s exports in financial and professional services had a record-breaking year in 2016, according to figures released today by TheCityUK. Exports in the sector jumped 15.8 per cent from £82.6bn to £95.7bn, breaking away from four years of relatively sluggish growth, when exports edged up by 0.9 per cent each year on average. Read more: [...]
Broadcom to ramp up pressure on Qualcomm with new $120bn bid February 4, 2018 Broadcom is set to unveil a new bid of around $120bn (£85bn) for rival chip maker Qualcomm. The firm was set to finalise a deal tonight that values Qualcomm at between $80 and $82 per share, up from a previous offer of $70 a share, made up of $60 per share in cash and $10 [...]
North Sea oil and gas is set to bring in £1bn for the Treasury thanks to oil price boost February 4, 2018 Oil and gas produced in the UK’s North Sea is set to contribute about £1bn in tax this financial year as the industry makes a striking turnaround due to a significant rise in oil prices. Brent crude oil prices this year recovered to a level not seen since the market tumbled in 2014, reaching as [...]