German defence minister warns UK against messing with EU security October 6, 2016 German defence minister Ursula von der Leyen has warned the UK against getting involved in EU security matters. "The plea to the British is only not to block important European developments, when they say they want Brexit," von der Leyen told the Financial Times. "It is not good to prevent Europe from organising itself better." [...]
Pound endures another rough rollercoaster ride amid mixed signals October 6, 2016 Sterling was sent on another rollercoaster ride yesterday as traders scrambled to digest fresh economic data alongside the latest messages emerging from Theresa May’s ruling Conservative party. The pound plummeted below $1.27 for the first time since 1985 as foreign exchange investors brushed off a relatively positive survey of economic activity in the UK’s dominant services [...]
Philip Hammond heads for Wall Street to reassure banking giants October 6, 2016 Chancellor Philip Hammond is to meet with bosses from a raft of Wall Street banks in a bid to stress the UK's desire to protect the financial services sector in the aftermath of Brexit. Hammond arrived in the US last night, where he will attend the IMF's annual meeting of finance ministers later this week. [...]
Well, now we know what Mayism looks like October 5, 2016 Come back George Osborne, all is forgiven. Yes, he may have ramped up the fear factor ahead of the referendum and yes, he may have missed his own targets and tinkered too often with the tax code but after Theresa May's speech yesterday there will be plenty in business who look back with affection on [...]
Theresa May hit by a business backlash over her Conservative party conference speech October 5, 2016 Prime minister Theresa May was lambasted by business groups and policy wonks yesterday for a speech that laid bare an interventionist economic policy and a heavy-handed approach to business reform. May used her closing speech at the Conservative party conference in Birmingham to pledge action against “dysfunctional” markets and to slam the so-called liberal metropolitan elite. [...]
May’s big concessions to the Left risk returning the UK to the corporatist mess of the 70s October 5, 2016 Theresa May is an accidental Prime Minister. She is in Downing Street because David Cameron broke his word to the electorate and ducked out, while her rivals totally misjudged the situation. But she is certainly making the most of her position to attempt to reengineer the Conservative brand. Yesterday’s conference speech set out the stall. A [...]
After being blocked from running last time, MEP Steven Woolfe is going to seek Ukip’s leadership again October 5, 2016 Ukip MEP Steven Woolfe is to make a second bid for the party's leadership following Diane James' shock resignation last night. James stepped down as Ukip leader after just 18 days, stating that she did not "have sufficient authority, nor the full support of all my MEP colleagues and party officers to implement changes I believe necessary [...]
Theresa May criticises Bank of England for making people poorer October 5, 2016 Theresa May has come dangerously close to attacking the Bank of England in unprecedented comments on the tools it is using to support the economy during the aftermath of the financial crisis recession and the EU referendum. In her speech at the Conservative Party Conference today, May said: "While monetary policy with super-low interest rates and quantitative easing provided [...]
Is Amber Rudd backpeddling on tough new migration proposals just a day after they were revealed? October 5, 2016 Home secretary Amber Rudd has suggested the government could backpeddle on controversial plans to tackle migration by making companies list the number of foreign workers they employ. Rudd unveiled the proposals yesterday at the Conservative party conference in Birmingham, but they have been slammed by business groups, who argue a tough crackdown would drive talent away. [...]
The new centre ground: The full text of Theresa May’s Conservative Party conference speech October 5, 2016 In the speech which closed the Conservative Party conference, Theresa May spoke of a country in transition, and new opportunities. The full 7,600 words is below – although if you'd rather a cut-down version, her best quotes are here – or you can read how businesses reacted. The new centre ground: May's speech in full When [...]