The euro makes back losses from pound and dollar as markets react to Italian Prime Minister Matteo Renzi’s resignation December 5, 2016 The euro regained its steep losses against the pound and the dollar as the week started with the defeat of Italian Prime Minister Matteo Renzi in his flagship constitutional reform and his immediate resignation. The pound rose above €1.20 in the early hours of Monday morning before falling back to €1.1899 at the time of publication. [...]
New Zealand Prime Minister John Key unexpectedly steps down to focus on his family December 5, 2016 New Zealand Prime Minister John Key unexpectedly announced his resignation today after eight years in power. Key was partway through a third three-year term marked by political stability and economic reform after the global financial crisis when he told reporters he would step down to focus on family, Reuters reported. Deputy prime minister and finance [...]
The immigration debate needs liberal voices December 5, 2016 The debate over immigration would continue to rage even if the UK had voted to remain in the EU. Indeed, with fresh figures showing that non-EU migrants made up the bulk of recent arrivals, one could argue it would rage all the harder if we hadn’t voted to ‘take back control’. But with splits emerging in [...]
Tony Blair and Nick Clegg risk damaging British business by seeking to block Brexit December 5, 2016 As a businessman and a proud Brexiteer – I was treasurer and board member of the Vote Leave campaign – I am convinced that Britain’s best days lie ahead. But we need to be ambitious. If we are, and if we seize this Brexit opportunity together, Britain can change for the better. My online financial trading business, [...]
Following a year of major political change, will 2016 be regarded as a turning point in history? December 5, 2016 Ruth Lea, economic adviser at Arbuthnot Banking Group, says Yes. I have little doubt that 2016 will go down as a major turning point in British history, as indeed was 1973 when we joined the European Communities. Then Britain, racked by post-colonial self-doubt, chose to join Europe’s political project of “ever closer union”, with all [...]
MPs’ Magnitsky amendment to criminal finances bill would see abusers’ assets frozen in the UK December 5, 2016 New powers to freeze the UK assets of those suspected of abusing human rights have received the backing of a cross-party group of influential MPs ahead of a parliamentary vote on the latest anti-corruption legislation. The MPs, led by Dominic Raab, conservative MP for Esher & Walton, have tabled an amendment for the asset freezing [...]
Article 50 rematch: Government heads to top court with revamped Brexit argument December 5, 2016 All eyes will be on the Supreme Court today as the attorney general doubles-down on the government's claim that the Prime Minister does not need parliamentary approval to trigger Article 50. Jeremy Wright will be the first to put forward arguments in the four-day hearing, while lawyers for pro-parliament activists who won their argument at the [...]
Austrian election: Independent Van der Bellen victorious as far-right’s Hofer concedes defeat December 4, 2016 Austrian independent candidate and former Greens leader Alexander Van der Bellen has won the country's presidential race after far-right candidate Norbert Hofer conceded defeat. Initial projections showed Van der Bellen with an unassailable lead of around 54 per cent to Hofer's 46 per cent. Herbert Kickl, Hofer's campaign manager told the state-backed broadcaster ORF: The bottom line [...]
Doubts are emerging over Tata’s long-term commitment to Port Talbot blast furnaces December 4, 2016 New concerns are emerging over Tata's commitment to maintaining two blast furnaces at the Port Talbot steelworks. The Indian conglomerate is expected to commit to the long-term future of the site within weeks, but with one furnace in need of relining, observers are concerned Tata will only implement a short-term fix. The furnace is due [...]
Trump just tweetstormed a 35pc tax on businesses moving jobs away from US December 4, 2016 Donald Trump has warned US companies that they can not move production out of the US and then sell goods back to the country without "retribution or consequence" as he threatened to impose a 35 per cent tax on any companies that do. The President-elect tweeted that he would impose a "35 per cent tax [...]