Brexit negotiator Michel Barnier says City firms will lose financial passports when UK leaves EU November 20, 2017 The EU’s Brexit negotiator Michel Barnier has said that City firms will lose their financial passports when the UK leaves the EU. Speaking at a Centre for European Reform conference, Barnier said: “On financial services, UK voices suggest that Brexit does not mean Brexit. Brexit means Brexit. Everywhere.” He added: “They say there will be [...]
British Gas Owner Centrica is scrapping standard variable tariff (SVT) for new customers as it plans pricing overhaul November 20, 2017 British Gas owner Centrica has announced it is ditching the standard variable tariff for new customers by April, amid a range of measures it says well help reform the energy market more than the introduction of price caps. The firm said it will also encourage customers to move away from the SVT, and will contact [...]
Forget the Night Tube: Night Overground services start in east London on 15 December between New Cross Gate and Dalston Junction November 20, 2017 We heard back in July that Night Tube services were coming to the Overground, and now we have an official date. Night Overground services kick off in east London on Friday 15 December, with 24-hour services operating on Friday and Saturday nights on the London Overground between New Cross Gate and Dalston Junction, extending to [...]
Mitie Group share price drops as it reveals another FRC investigation and announces drop in profit and revenue November 20, 2017 Mitie Group has revealed the accounting watchdog has opened another investigation into the group’s financial statements, as it unveils its first half results. The figures Revenue was up four per cent in the first half of 2017, from £922.6m to £959.7m. Operating profit dropped 38.1 per cent to £14.8m from £23.9m. Basic earnings per share [...]
Most businesses are about to plough cash into artificial intelligence November 20, 2017 Most businesses are planning to plough cash into artificial intelligence over the next two years as just one in ten leaders believes the UK to be a world leader in digital. Some 85 per cent of the more than 50 organisations surveyed by Deloitte, which collectively are worth more than £200bn, said they will invest [...]
The Conservative party must fight back against John McDonnell’s brand of Labour lunacy November 20, 2017 At the time of John McDonnell’s elevation to Labour’s front bench in September 2015, the veteran left-winger was better known for praising the “bravery and sacrifice” and “the bombs and the bullets” of the IRA than for any coherent economic policy. However, his personal website at the time contained a basic manifesto calling for a [...]
DEBATE: Should the chancellor borrow more to pay for infrastructure and public services? November 20, 2017 Should the chancellor borrow more to pay for infrastructure and public services? Alan Lockey, head of modern economy at Demos, says YES. Basic decency explains why we should be spending more on Britain’s poorest. The rising gap between inflation and frozen benefits is crippling their living standards, and the Universal Credit fiasco looks more and [...]
Germany stuck in limbo and euro (EUR:USD) tumbles after coalition talks with the FDP collapse November 20, 2017 The euro dived in global trading late last night after talks to form a new German government collapsed. Crunch coalition negotiations between Angela Merkel’s Christian Democrats, the Greens, and the pro-business Free Democrats (FDP) broke down around 11pm GMT when the FDP walked away, citing irreconcilable differences. “There was no progress but rather there were [...]
The Royal Family is worth £1.8bn to the UK economy every year says report November 20, 2017 Britain’s royalty contributes nearly £1.8bn to the UK economy every year, according to a new analysis of the value of the monarchy to be published today. The biggest single benefit offered by the monarchy to UK economy comes in a £550m annual boost to tourism, according to Brand Finance research. The total monetary value of [...]
UK shadow chancellor John McDonnell slammed for refusing to cost Labour’s nationalisation plans on Andrew Marr show November 20, 2017 John McDonnell faced sharp criticism last night after he refused to say how much Labour’s sweeping nationalisation plans would cost. Speaking on the BBC’s Andrew Marr show, the firebrand shadow chancellor said “you don’t need a number” for the cost of nationalising firms because the companies’ subsequent profits would pay for the initial borrowing cost [...]