China reduces tariffs on US cars to 15 per cent amid signs trade war is softening December 11, 2018 China has agreed to reduce tariffs on US cars from 40 per cent to 15 per cent. Shares in US car firms jumped slightly on immediate reaction to the news. Shares in General Motors were up 2.8 per cent, while Tesla was up 0.7 per cent and Ford 0.65 per cent. Meanwhile, US markets were up slightly [...]
Businesses should entertain chance of ‘accidental’ no-deal Brexit, warns City of London Corporation December 11, 2018 Businesses need to entertain the possibility of a no-deal Brexit as it could "happen by accident", the City of London Corporation warned today. Policy head Catherine McGuinness yesterday told German businesses, which had gathered for a Brexit event organised by the London Chamber of Commerce, that although she was hopeful the UK would not leave [...]
Chancellor Philip Hammond rules out relaxing regulations to boost finance after Brexit December 11, 2018 London will remain a global financial centre after Brexit, Chancellor Philip Hammond said today as he ruled out relaxing financial regulation. Hammond said Britain will have a safe, transparent and predictable regulation regime, which will be agile enough to cope with changes in business models, Reuters reported. “I reject the idea that laxer regulation makes a [...]
Emergency Brexit debate: Corbyn tells MPs he will table no confidence vote ‘at appropriate time’ December 11, 2018 Jeremy Corbyn has told MPs he will table a vote of no confidence “at the appropriate time”, as Prime Minister Theresa May meets European leaders today to discuss amendments to the Brexit transition deal. Speaking this afternoon in an emergency debate on the PM's decision yesterday to postpone the so-called meaningful vote on the deal, the [...]
Government’s analysis of Brexit no help to MPs, Treasury committee finds December 11, 2018 The government’s own analysis of Brexit is effectively meaningless as it doesn’t scrutinise the implications of the backstop or the most likely trade deal outcomes, according to MPs. The Treasury Select Committee claim analysis of the withdrawal agreement and political declaration secured by Theresa May last month should not be used by MPs to help [...]
Home Office backtracks on plans to scrap ‘golden visas’ for rich investors December 11, 2018 The Home Office has rowed back on plans to halt visas for wealthy investors just days after the suspension was announced. Last week immigration minister Caroline Nokes announced that the visas would be suspended at midnight last Friday amid fears about money laundering and organised crimes. However, today the Home Office confirmed that the visas [...]
Man tasered by armed police inside Houses of Parliament grounds December 11, 2018 A man was reportedly tasered by armed police and held inside the grounds of the Houses of Parliament today. The Met Police told City A.M. it is trying to work out what happened, but said that no one has been injured. Police said it was too early to say if it was a terror-related incident, [...]
Parliament will get a vote on May’s Brexit deal by 21 January December 11, 2018 The Prime Minister will hold parliament’s delayed vote on her Brexit deal by 21 January, Downing Street confirmed today, according to media reports. Theresa May yesterday postponed MPs’ so-called “meaningful vote” on her draft withdrawal agreement, which was scheduled for today, without offering a new date. But Downing Street said she will stick to the [...]
‘No room for renegotiation’: EU slaps down UK hopes for a new Brexit deal as May attempts to woo European leaders December 11, 2018 The EU will not renegotiate Theresa May’s Brexit deal after the Prime Minister was forced into a humiliating parliamentary climbdown yesterday, Jean-Claude Juncker said this morning. The European Commission president said: “I remain convinced that the Brexit deal we have is the best – and only – deal possible. There is no room for renegotiation, but further [...]
May’s Brexit failure has hit the economy December 11, 2018 Tear your eyes away from Westminster for a moment, and consider Morgan McKinley’s London Employment Monitor. Today’s report is not good. Available financial services jobs in the capital in November were down four per cent month-on-month, and 39 per cent on the previous year. Job-seeker numbers are also down. This is particularly worrying as yesterday’s [...]