EU firms scramble to stay in the City in no-deal Brexit November 5, 2018 More than 1,000 EU firms have expressed their interest in taking up the UK's offer of continued access to the City in the event of a no-deal Brexit, according to the Financial Conduct Authority (FCA). The City watchdog's international director Nausicaa Delfas said around 1,300 EU firms were seeking to trade within the FCA's temporary [...]
It’s time to go with the flow: The UK needs to accept global economic competition and come out on top November 4, 2018 | City Talk UK 1-1 Rest of the world. So reads the scoreboard from two recent corporate stories: Dyson’s decision to produce its electric cars in Singapore and Unilever’s to stay put in London. With Brexit beckoning, there is more focus than ever in Britain on its place in the world, and how that can be affected by [...]
Mark Kleinman: Financial Reporting Council must offer clarity on Haddrill’s future November 2, 2018 The 900 UK partners at PwC were unable to deduce much from a voicemail left for them this week by their boss, Kevin Ellis, about its plans for the future of the UK audit market. His message was “very top-level”, according to one person who heard it: the details of its blueprint, submitted to the [...]
Sorry Angela Merkel, it’s not that easy to choreograph your own legacy November 1, 2018 There definitely comes a time where a fresh pair of eyes and fresh leadership would be good.” Those are the wise words of David Cameron, when asked whether he’d be running for a third term as Prime Minister just before the 2015 election. Now into her fourth term as German Chancellor, it has taken Angela [...]
Brazil backs Bolsanaro: what next? October 31, 2018 The will and ability to reform Financial markets, at least, had been rooting for a defeat of the left-wing candidate Fernando Haddad, successor to former president Lula, on the basis of the very different economic policies espoused by the two candidates. Superficially, this seems odd given that Bolsonaro has repeatedly voted against reform and spoken [...]
It’s easier to strike a business deal in Georgia and Norway than in the UK, says World Bank October 31, 2018 The UK has dropped two places on a global ranking of the ease of doing business to be overtaken by Georgia and Norway, the World Bank revealed today. The UK is now the ninth easiest country in the world to conduct business, down from seventh place in last year's report, as it's score for trading across [...]
This Budget was a masterclass in dishonesty and manipulation October 31, 2018 So what was it? A cautious Budget? An astute Budget? A get-me-through-the-day Budget? Did you feel the earth move – or the need to change your financial affairs, for better or worse? Was there more than a zzzzz from the markets? It certainly was not the tax reform Budget that our economy desperately needs to put [...]
John McDonnell’s ideology won’t lead Britain to a bright new future, but to the dismal 1970s October 31, 2018 The focus this week has been on Philip Hammond’s Budget. The opinions of the shadow chancellor have been rather in the background by comparison. But John McDonnell is doing us all a favour at the moment. He is busily promoting a collection of essays which he edited, under the title “Economics for the Many”. These cover [...]
IFS dismisses Budget ‘bonanza’, accusing Hammond of gambling the public finances October 30, 2018 Chancellor Philip Hammond gambled the public finances in yesterday's Budget, the Institute for Fiscal Studies (IFS) said today, claiming public services will still feel the squeeze despite Philip Hammond’s end of austerity claims. The IFS said Hammond had chosen to spend his fiscal windfall rather than save it, increasing NHS spending by around £20bn until 2023-24. [...]
Prime Minister rules out another general election after ‘giveaway’ Budget October 30, 2018 Prime Minister Theresa May and chancellor Philip Hammond today ruled out another UK general election a day after revealing what has been dubbed a "giveaway" Budget. May told a press conference in Oslo: "No. We are not preparing for another general election. That would not be in the national interest." Being interviewed on Good Morning [...]