Market mayhem: US stocks plunge at the open, dragged down by financials as Goldman Sachs’ share price falls to three year lows June 27, 2016 US stocks have tripped at the open, following mounting loses across Europe as the reality of last week's Brexit vote sets in. The major US markets have extended a sharp sell off from Friday as investors worry over the global implications of the UK's vote to leave the European Union, despite the best efforts of senior [...]
The process to select a new Prime Minister has just been accelerated by the Conservative Party June 27, 2016 The Conservative Party has reportedly agreed the timetable for its hunt for a new leader, and the UK's new Prime Minister. David Cameron resigned on Friday, and said that he wanted a successor in place for the party conference in October. However, according to reports the Conservatives have now accelerated the process, pledging to find a new [...]
Downing Street has warned that a second independence referendum is “the last thing Scotland needs” June 27, 2016 Downing Street officials have pushed back on proposals around a second independence referendum in Scotland, while also dismissing prospects of a second Brexit vote. Scottish first minister Nicola Sturgeon said last week that, following the UK's vote to leave the EU, a second vote on Scotland's independence was “highly likely”. However, David Cameron's staff have [...]
David Cameron sets up civil service “Brexit unit” to prepare UK to leave EU June 27, 2016 The government has set up a "Brexit unit" to develop a plan for the UK's arduous negotiations with the EU. The team will be made up of civil servants from across Whitehall and will present options to the cabinet about how the government can respond to last week's historic vote. Oliver Letwin will play a "facilitative [...]
Labour Party turmoil: Shadow business secretary Angela Eagle resigns June 27, 2016 The shadow business secretary, Angela Eagle, has become the latest high-profile Labour MP to step down from Jeremy Corbyn's cabinet today. "I am devastated by the result of the EU referendum," Eagle said in her resignation letter to Jeremy Corbyn this afternoon." She continued: "Too many of our supporters were taken in by right-wing arguments and I [...]
What will Brexit mean for the City? June 27, 2016 Online protest-petitions aside, the people have spoken and the UK is now facing an exit from the European Union. What might this mean for the City, and Britain’s businesses more broadly? The short term We are already in the midst of extreme political uncertainty, and thus it is unsurprising to see panic and volatility in the [...]
Virgin founder Richard Branson is urging voters to sign a petition calling for a second referendum into the UK’s EU membership June 27, 2016 Virgin founder Sir Richard Branson is urging Brits to sign a petition calling for a second referendum into EU membership. Branson, who campaigned for a Remain vote, said many voters had been misled by the Leave campaign which won on Friday morning, and should sign the controversial petition, which demands a new vote. Writing on [...]
Who’s in and who’s out of Jeremy Corbyn’s frontbench team? June 27, 2016 The Labour Party has been plunged into turmoil following the EU referendum result, with mass resignations, a leader who insists he is going nowhere and the prospect of bitter leadership battles in both the Labour and Conservative parties this summer. With the string of frontbench resignations stacking up and Jeremy Corbyn himself scrambling to announce replacements, for [...]
Labour leader Jeremy Corbyn has reportedly been told to resign by his deputy Tom Watson June 27, 2016 Labour's leader Jeremy Corbyn has reportedly been told to resign by his deputy, Tom Watson. Corbyn has faced a spate of resignations over the past 48 hours, with 11 of the 31 shadow cabinet members resigning yesterday alone, and the rebellion continuing into today. Although the Labour leader has announced a new shadow cabinet, junior [...]
Almost 6,000 people have signed up to the Lib Dems since Brexit vote was announced June 27, 2016 While the Labour Party is in turmoil this morning and the Conservatives are readying for a leadership change, the Liberal Democrats have cashed in on new members since the UK voted to leave the EU last Thursday. More than 4,000 people joined the party immediately after polling day and new sign-ups are still "soaring", a [...]