Tata could commit to the future of the embattled Port Talbot steelworks within weeks November 27, 2016 Tata is expected to commit to the future of embattled steelworks in Port Talbot within weeks, with hopes rising of a flush of investment for the site. The Indian conglomerate has been considering the future of the British steel operation for most of 2016, with a mooted joint-venture with ThyssenKrupp under exploration since July. But [...]
The Bank of England’s Brexit strains have been laid bare November 27, 2016 Minutes from a meeting of Bank of England bosses have revealed that the UK's decision to quit the EU has piled on the work for central bankers. The Court of Directors, which oversees the Bank's work, met in September to discuss Brexit, among other issues, with directors asking about funding for extra research. Read More: Mark Carney has [...]
Michael Gove just totally dissed economists and “expert” pollsters and social scientists November 27, 2016 Michael Gove has dissed economists, calling them out for failing to predict the financial crisis back in 2008 and for getting it wrong when it comes to the impact of June's vote for Brexit, as well as labelling the profession "in crisis". The former justice secretary and Leave campaigner who was sacked from the frontbench by [...]
Executive pay is about to get a major shake-up November 27, 2016 The difference between how much the average worker and their bosses get paid could soon be revealed under new proposals by the government due to be unveiled this week. Prime Minister Theresa May is pushing for reform of executive pay in a year where shareholders of several of the UK's biggest firms have become more outspoken over [...]
UK and US politicians react to Fidel Castro’s death November 26, 2016 Politicians from either side of the Atlantic gave wide spectrum of reactions to the news that former Cuban leader Fidel Castro had died overnight. Labour leader Jeremy Corbyn praised Castro's "heroism" and in his official statement in reaction to the news said: Fidel Castro's death marks the passing of a huge figure of modern history, national [...]
A third of City workers reckon their employers might move abroad because of Brexit November 25, 2016 A third of City workers reckon say their employers might be planning to relocate after the Brexit vote, a new study has found. The survey, by Morgan McKinley, found 31 per cent of those in the Square Mile believe their bosses either definitely are or might be moving parts of their business abroad. Just under [...]
The UK is now odds-on to remain in the EU until 2020 – and Tony Blair is the reason behind it, according to Ladbrokes November 25, 2016 The UK is now odds-on to still be a full member of the EU on 1 January 2020. According to Ladbrokes, Tony Blair's claim that Brexit can be stopped has moved the market, making it now just 10/11 Britain remain as full members, with 3/1 offered on another vote taking place before the same date. Meanwhile, the [...]
Phew: The department for international trade now has a chief economist November 25, 2016 The chief executive of the office of rail and road has gone off the rails – after the newly-established department of international trade poached him to as its new chief economist. The department, established after the Brexit vote, said today that Richard Price, who has run the office of rail and road for the past five [...]
With Italians set to vote no in a key political reform referendum, should we now expect “Italeave”? November 24, 2016 Tim Worstall, senior fellow at the Adam Smith Institute, and author of Chasing Rainbows: Economic Myths, Environmental Facts, says Yes. Failure by Prime Minister Matteo Renzi to win the Italian constitutional referendum should indeed lead to Italy’s exit from the EU. Renzi has said that he will resign if he loses, which will almost certainly [...]
There is a financial services-shaped hole in the government’s economic strategy November 24, 2016 Oscar Wilde famously wrote that “there is only one thing in life worse than being talked about, and that is not being talked about.” For anyone who works in the City, that seems a particularly pertinent quote right now. For Wednesday’s Autumn Statement – one of the biggest events in the economic policy calendar – [...]