The “whole country should be grateful” that Mark Carney’s staying until 2019, says Bank of England’s deputy governor November 4, 2016 The Bank of England's deputy governor Dr Ben Broadbent has said "the whole country should be grateful" that Mark Carney's staying in place for the next few years. A weekend of speculation over the Bank of England governor's future was brought to a halt by Carney earlier this week when he said he'd be staying in [...]
Editor’s notes: Think Brexit voters were just angry? Think again. November 4, 2016 The hot topic of the day is the process of Brexit. With the High Court ruling in favour of those who claimed that the government lacks the constitutional authority to trigger Article 50 without parliamentary approval, it’s an absolute field day for legal commentators and armchair constitutionalists. Those who cry that the judgement represents “a [...]
Oil boss needs buyers to Shell out for assets November 4, 2016 A brave face. That's the best way to describe this week's trading updates from Britain's two oil behemoths. It’s now a familiar visage for BP's Bob Dudley and Shell's Ben van Beurden. Oil prices continue to hover stubbornly below $50-a-barrel, raising justifiable concerns about the companies’ ability to cover their dividends without substantial further cuts [...]
S&P 500 has its longest losing streak since financial crisis as Trump nerves worsen November 4, 2016 The US S&P 500 has recorded its longest stretch of declines since the financial crisis in 2008. That marks its eight day on the trot of drops – falling 0.4 per cent thanks to a drop in Facebook shares and ongoing uncertainty over the upcoming US presidential election, causing investors to dial back the risk. [...]
The referendum is over: Let’s act like it is November 4, 2016 Brexit is about to be betrayed. Wealthy financiers have coopted unelected judges into a war on democracy, seeking to undermine the will of the people by fair means or foul. Yesterday’s High Court ruling that Parliament must decide on the triggering of Article 50 is an insult to the 17.4m who voted for Brexit, and [...]
Businesses don’t think the UK will become more competitive in 2050 than it is now as infrastructure’s stalling November 4, 2016 Nearly two thirds of businesses don't think the UK will be any more internationally competitive by 2050 than it is now. That'll be because of infrastructure stalling over the coming years, according to the 2016 CBI and Aecom infrastructure survey. CBI director-general Carolyn Fairbairn said the results were "a concern", particularly in the wake of the Brexit vote, when the [...]
British farmers could be “sacrificial lambs” if the UK seeks a free trade deal with India November 4, 2016 British farmers could lose out if Theresa May pursues a free-trade deal with India in the aftermath of the European referendum. Analysis from the Westminster Policy Institute ranks India as one of the best prospects for a trade deal in the aftermath of Brexit. Comparing the total economic value for the UK economy of a [...]
Tory backbench Brexiters plan to steer government’s course through EU exit November 4, 2016 A group of backbench Tory Brexiteers want to steer the government’s agenda with regular Westminster meetings. The group, led by Leave campaigner Steve Baker, wants to push for free trade deals with countries around the world and cool fears of a post-EU trading exile. Baker is understood to be concerned that failure to coordinate Conservative [...]
Following the High Court’s ruling on Article 50, is an early general election now a distinct possibility? November 3, 2016 Alex Morton, director at Field Consulting, says Yes. Prime Minister Theresa May should call a general election in the spring, and the High Court ruling gives her even more of an excuse to do so. The UK economy is going to turn in the next few years, regardless of Brexit. By 2017, we will be eight [...]
Article 50 campaigners have raised £30,000 in less than four hours to fight the government in the Supreme Court November 3, 2016 A crowdfunding scheme set up to support a legal challenge on the government's right to activate Article 50 has raised more than £30,000 in just over four hours. Grahame Pigney, one of the interested parties behind a bid to block Theresa May from quitting the EU without parliamentary approval, created the funding page earlier today. [...]