London firms gaining confidence despite warnings over exports dip June 21, 2015 Businesses in London are gaining more confidence despite growing concerns around political and economic uncertainty, but the UK economy is growing unbalanced and too reliant on domestic demand, according to new research out today. The most recent ICAEW/Grant Thornton UK Business Confidence Monitor reveals that the confidence index for London stands at 16.2, up from [...]
Retailers send George Osborne their budget wish list June 21, 2015 British retailers are calling on the chancellor to eschew the living wage and introduce new measures to boost productivity in next month’s emergency budget. In a new submission to chancellor George Osborne, the British Retail Consortium (BRC) said that it wants the government to “work with the retail industry to ensure that employees are [...]
Greece’s creditors eye up €18bn in rescue funds and six-month bailout extensions June 21, 2015 Greece’s creditors are eyeing up a deal to save its membership in the Euro, including extending its bailout by six months, offering future debt relief, and supplying up to €18bn (£13bn) in rescue funds. Read more: The key dates in the countdown to a Grexit The deal hinges, however, on Alexis Tsipras, the Greek Prime [...]
Government to sell its share in Green Investment Bank June 21, 2015 The Conservatives are set to step up their privatisation push, with the first sale of shares in the Green Investment Bank (GIB). Read more: Green Investment Bank to set up £1bn offshore wind projects Advisers from Bank of America Merrill Lynch have been coordinating with Whitehall officials to sell the GIB, which lends money to environmentally-friendly [...]
Grexit would leave Greece a failed state says former US Treasury secretary Larry Summers June 21, 2015 Greece will likely become a failed state if it leaves the Euro, according to a former US treasury secretary. Writing in the Financial Times, Lawrence (Larry) Summers said it now “appeared likely” that Greece would financially separate from Europe, and that this would be the least beneficial result for both parties. Read more: Tsipras puts [...]
Grexit: Not reaching a deal would be “insane”, says National Bank of Greece boss Louka Katseli June 21, 2015 The boss of Greece’s biggest bank has said it would be “insane” for the country not to reach a deal at emergency talks due to be held tomorrow between the Greek government and European leaders. Louka Katseli, the chair of the National Bank of Greece (BNG), told the BBC "I think sanity will prevail and [...]
Greek minister says that Greece will try to bring more to the table in debt talks June 20, 2015 Greece will try to put new proposals to creditors in its ongoing negotiations for a debt deal, a Greek minister has said. Although time is running out for leaders to break the deadlock between Greece and its creditors, the country's state minister has said that Alexis Tsipras will likely speak with European Commission chief Jean-Claude [...]
Angela Merkel piles the pressure on Greece as she urges debt deal June 20, 2015 German chancellor Angela Merkel has said that Greece must make a deal with its creditors before Monday's emergency EU summit. Urging the Greek government to come to some agreement, she warned that a deal could not be made on Monday without it. Her intervention comes less than two weeks before the deadline for Greece's June [...]
EU referendum could be held October 2016, according to government source June 20, 2015 The EU referendum will be held in October 2016, according to government sources. The vote, which will ask British voters whether they wish to remain in the EU, is believed to likely take place next Autumn, following David Cameron's renegotiation talks with EU leaders. Officials in Downing Street and the Foreign Office are currently deciding [...]
Greece crisis: European Central Bank offers Greece another liquidity lifeline June 19, 2015 Stocks in Athens were up as much as two per cent this afternoon, after the European Central Bank (ECB) offered a lifeline to Greece this afternoon, increasing the amount of emergency liquidity its banks can draw on for the second time this week. Read more: Countdown to Grexit: The key dates that could save Greece before [...]