Moody’s warns political contagion from Brexit vote could threaten EU’s existence July 8, 2016 Moody's issued a stark warning that political spillovers from the Brexit vote could one day threaten the bloc's very existence and hit global economic growth. It came as the credit ratings agency downgraded the Eurozone's growth forecasts to 1.5 per cent from 1.7 per cent this year, and to 1.3 per cent from 1.6 per cent in [...]
Chuka Umunna says “never say never” to standing for Labour leadership as Jeremy Corbyn fights on July 8, 2016 Former shadow business secretary Chuka Umunna has said that he would "never say never" to leading the Labour party, while urging the party unite. The Streatham MP was speaking amid ongoing turmoil within the Labour party after leader Jeremy Corbyn lost the confidence of most of the Parliamentary Labour Party with speculation he would not be able to [...]
European Council President Donald Tusk says more countries will not leave the EU after Brexit vote July 8, 2016 Concerns of anti-EU contagion spreading to countries in the wake of the Brexit vote are overstated, European Council President Donald Tusk has said. Speaking alongside President Barack Obama and EU Commission President Jean-Claude Juncker, Tusk said that there are "geopolitical consequences" of Brexit which could be serious, but a domino effect stemming from the UK is [...]
David Cameron nominates Sir Julian King as the UK’s EU commissioner July 8, 2016 Prime Minister David Cameron has put forward Sir Julian King as the UK's nominee for its EU Commissioner, Downing Street has announced King, currently the UK's ambassador to France, has been put forward for the role left vacant after Lord Jonathan Hill resigned in the wake of the Brexit vote. The UK still remains a [...]
The loss of trust and fear that we’ll lose openness are challenges business must – and can – solve July 8, 2016 The UK’s vote to leave the European Union demands strong leadership in a way few other events in our recent history have required. Since the result of the referendum, much of the language and rhetoric has verged on the sensationalist, provoking a sense of unease at a time when the country needs composure and reassurance. In [...]
Government lays out plan to avoid power supply crunch over winter July 8, 2016 The government has detailed how it will keep the lights over winter as Britain faces an increasingly tight power supply. The government said today that it will seek will seek 53.8 gigawatts (GW) of electricity in a capacity auction for 2017/18. The scheme was bought forward by a year due to a wave of coal-fired plant closures. Read [...]
Labour may be in danger of splitting, says potential leadership contender Owen Smith July 8, 2016 A series of high profile Labour politicians have now raised the prospect of a permanent split in the party, with Owen Smith the latest to add his name to the list. Pontypridd MP Owen Smith said that the party is in danger of "splitting apart", adding that unity is needed. "Over the last week, I have [...]
UK will play bigger role in NATO to compensate for Brexit, defence secretary Michael Fallon has said July 8, 2016 The United Kingdom will play a bigger role in NATO in order to counterbalance its vote to leave the EU, the defence secretary has said. Michael Fallon said that it was disappointing that the UK had voted for Brexit at a dangerous time in global affairs, adding that the UK must now be even more engaging with [...]
Clinton is off the hook over her private email. Are we right to question the role of her political celebrity? July 8, 2016 The results are in, and people are outraged. And I’m not talking about Brexit. Across the pond, a far less transparent phenomenon has occurred. After many months of anticipation, the FBI has finally recommended against charging Hillary Clinton for using a private server to host her correspondence while she was secretary of state. In legal [...]
Ukip’s march Left will create Britain’s first major populist party – and that means big business needs to look beyond the bounds of London July 8, 2016 Nigel Farage might not be every City worker’s favourite person at the moment. But the City might look back on Farage’s time as leader with fondness – because there is a real prospect that Ukip’s leadership election will herald the birth of Britain’s first truly populist party. Ex-commodities broker Farage was at heart a pro-business [...]