Christmas travel disruption roundup: London Tube and train stations and networks closed over Christmas December 20, 2017 With this morning’s news of a DLR strike planned for New Year’s Eve, Londoners may well be wondering what travel troubles they’ll be facing over the festive period. Well fear not, for here is a roundup of the various engineering works and walkouts planned – along with which days are set to be busiest for [...]
Bank of England plans to allow EU banks in the UK lighter regulation option after Brexit December 20, 2017 The Bank of England (BoE) has today announced it will allow European wholesale banks to operate as branches in the UK after Brexit, removing the threat of a much stronger regulatory regime which bankers feared would harm their profits. European wholesale banks and insurers will be able to apply for authorisation to operate as a [...]
Bitcoin cash price (BCH) rise spurs Coinbase to investigate potential insider trading December 20, 2017 A major bitcoin exchange is investigating a potential case of insider trading after the price of bitcoin cash rocketed. Coinbase announced its support for the bitcoin offshoot late on Tuesday, but the price of the cryptocurrency rocketed before the news was made public. Read more: Bitcoin plunges below $16,000 “Given the price increase in the [...]
The IMF has downgraded UK growth expectations, saying Brexit creates a “key uncertainty” December 20, 2017 The International Monetary Fund (IMF) has downgraded expectations for UK GDP growth this year, saying developments in Brexit negotiations remaining a “key uncertainty” for the economy as it stuck by its previous economic forecasts. Speaking at the Treasury today, Christine Lagarde, head of the IMF, said the UK economy “is losing out as a result” [...]
This property investment firm now owns a huge chunk of Seven Dials after acquiring six more shops | City A.M. December 20, 2017 West End investment firm Shaftesbury announced this morning that it has acquired six more shops on London’s Neal Street, in Seven Dials, for £24.6m. This means Shaftesbury now owns a whopping 70 per cent of the shops on the northern section of Neal Street, the busy road which connects Covent Garden Underground station to Shaftesbury [...]
Bitcoin price (BTC) plunges below $16,000 December 20, 2017 The price of bitcoin plunged on Wednesday, down around 20 per cent from record highs achieved just days ago. The cryptocurrency fell as low as $15,577.74, according to Coindesk’s bitcoin price index (BPI), though recovered somewhat and is trading at over $17,000 at pixel time, but still around 12 per cent off previous highs. Read [...]
EU sets deadline of 31 December 2020 for UK Brexit transition period to end December 20, 2017 The UK’s Brexit transition period should end by the 31 December, 2020, the EU has said. The EU’s chief negotiator, Michel Barnier, said the UK will retain the benefits and obligations of EU membership until the transition period ends. The European Commission said it had today sent a recommendation to the European Council to begin [...]
UK housing crisis: Let’s hope for a housing revolution in 2018 December 20, 2017 As the temporarily restored bongs of Big Ben sound at midnight on 31 December, those in the property sector could be forgiven for letting out a little sigh of relief at the passing of yet another year in which the government has resolutely failed to solve the housing crisis. Two stories today illustrate how severe [...]
Capitalism needs a makeover – and employee ownership can help December 20, 2017 As the leader of the Liberal Democrats, one of my aims is to address the falling social mobility and high levels of inequality that are fuelling public discontent and frustration in twenty-first century Britain. But this doesn’t simply mean taxing the incomes of high earners, as Jeremy Corbyn’s Labour party would have it. High-earners are [...]
What’s up with mortgage rates? December 20, 2017 Last month, we saw economic policy turn a corner, with the first base rate rise in the UK since the start of the financial crisis. Savers now see the light at the end of the tunnel after being burdened with pitiful interest rates for years. Yet in the same breath, if you’re a homeowner, you’ll [...]