Labour mulls break-up of Big Four accountancy firms September 21, 2018 The Labour party is weighing up radical plans to break up the Big Four accountancy firms, amid mounting pressure on the UK’s scandal-hit auditors. Shadow chancellor John McDonnell vowed to end what he described as a “cartel” among the country’s largest bean counters in the run-up to his party conference this weekend. “They have demonstrated [...]
Sterling falls after EU pounds May’s Chequers deal September 21, 2018 Sterling took a further beating this morning after Theresa May's botched attempts to woo European officials ended in disaster. Following an abrupt rejection of the Prime Minister’s Chequers agreement at Salzburg yesterday, the pound fell 0.6 per cent lower against the dollar and the euro, hitting $1.318 and €1.12 respectively. Read more: May's Brexit plan 'will [...]
Sterling falls after EU pounds May’s Chequers deal September 21, 2018 Sterling took a further beating this morning after Theresa May's botched attempts to woo European officials ended in disaster. Following an abrupt rejection of the Prime Minister’s Chequers agreement at Salzburg yesterday, the pound fell 0.6 per cent lower against the dollar and the euro, hitting $1.318 and €1.12 respectively. Read more: May's Brexit plan 'will [...]
Deficit rises unexpectedly in August on back of weak tax receipts September 21, 2018 Public sector borrowing has fallen to its lowest point since 2002 for the financial year to date at £17.8bn, £7.8bn less than the same time last year. However, August borrowing of £6.8bn came in at double economists' expectations, and was £2.4bn higher than the same month last year, figures from the Office for National Statistics (ONS) showed. Economists had expected [...]
Deficit rises unexpectedly in August on back of weak tax receipts September 21, 2018 Public sector borrowing has fallen to its lowest point since 2002 for the financial year to date at £17.8bn, £7.8bn less than the same time last year. However, August borrowing of £6.8bn came in at double economists' expectations, and was £2.4bn higher than the same month last year, figures from the Office for National Statistics (ONS) showed. Economists had expected [...]
Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Four-fifths of manufacturers not ready for no-deal Brexit as economists warn of £40bn hit September 21, 2018 The vast majority of British manufacturers are unprepared for a no-deal Brexit, a poll will show today, as economists predict a major £40bn hit to the UK economy in the event of a disorderly exit from the EU. More than four in every five manufacturing firms say they are not prepared, the survey by the [...]
Four-fifths of manufacturers not ready for no-deal Brexit as economists warn of £40bn hit September 21, 2018 The vast majority of British manufacturers are unprepared for a no-deal Brexit, a poll will show today, as economists predict a major £40bn hit to the UK economy in the event of a disorderly exit from the EU. More than four in every five manufacturing firms say they are not prepared, the survey by the [...]
DEBATE: Is there a silver lining for consumers to the increased inflationary pressures? September 20, 2018 Is there a silver lining for consumers to the increased inflationary pressures? Emma-Lou Montgomery, associate director for personal investing at Fidelity International, says YES. A little inflation can be a good thing. It’s a sign of an improving economy, and it means that your debts – providing that your income rises in line with or [...]