All change at the Labour Party as resignations stack up and Corbyn announces a new cabinet June 27, 2016 The second day of chaos in the Labour Party has begun, with a string of front bench resignations and a new cabinet announced by Jeremy Corbyn. Around ten ministers and parliamentary private secretaries (PPS) have quit this morning, following yesterday's pandemonium in the party which resulted in one-third of Corbyn's shadow cabinet leaving. Corbyn responded before the [...]
Jeremy Corbyn announces new shadow cabinet amid mass resignations June 27, 2016 Jeremy Corbyn has announced ten new members of his top team this morning in defiance of the slew of resignations engulfing Labour's frontbench and ahead of a crucial meeting of MPs later this evening. As a host of shadow ministers resigned this morning, Corbyn has already promoted a number of loyalists and insiders to senior positions in his shadow [...]
London house prices: First of many? Foxtons issues profit warning after Brexit vote June 27, 2016 Shares in struggling estate agent Foxtons plummeted as the market opened after it became one of the first property giants to issue a profit warning off the back of the UK's Brexit vote. Shares fell more than 16 per cent to 112.94p after the company put out a statement this morning saying challenging conditions it had previously referred to [...]
George Osborne keeps quiet on his leadership plans in first post-referendum appearance June 27, 2016 George Osborne refused to be drawn on whether he will be running to succeed David Cameron as prime minister later this year, in his first appearance since the UK voted to leave the EU. As he intervened to calm the markets and killed off the prospects of the post-Brexit "emergency Budget", the chancellor confirmed an update [...]
Boris Johnson denies Leavers were motivated by immigration and says the UK will maintain access to the single market June 27, 2016 Boris Johnson wants to keep the UK's access to the single market and does not believe concerns about immigration played a defining role in the vote to leave the EU. The former mayor of London and chief Brexit campaigner set out his stall in his weekly column in The Telegraph this morning, in the first [...]
No emergency Budget: George Osborne moves to calm markets – but pound stays lower June 27, 2016 The pound edged up against the dollar as George Osborne sought to calm markets first thing this morning, saying there will be no emergency Budget at least until a new Prime Minister is in place. Earlier this month, Osborne had said a Brexit vote could lead to an emergency Budget "within weeks" – but this morning Osborne [...]
Britain needs a liberal post-referendum plan June 27, 2016 Does the country feel different to you? Do you feel it stands a little taller in the world or has it already shrunk in status? Whatever your perspective on the referendum result, Britain now finds itself at an historic and unprecedented juncture. First and foremost, the outcome of this vote must be accepted as the democratic [...]
Business leaders call on government to hold out for best deal possible, as many warn that they’ll be freezing recruitment following Friday’s Brexit result June 27, 2016 Business leaders would rather hold out for the best Brexit deal possible than get it over and done with quickly, a study out today has found. According to research by the Institute of Directors, more than half (51 per cent) of the 1,092 members it surveyed after the referendum result was released prioritise getting a good deal [...]
Over 50 business leaders have called for an “urgent” decision on airport expansion almost exactly a year after an official report lent its support to a new Heathrow runway June 27, 2016 Over 50 business leaders have called on the government to urgently make a decision on expansion of capacity at London's airports, a year after an official report backed a new runway at Heathrow. Prior to last week's Brexit vote, reports had suggested that a decision could be made as soon as 7 July. However, following [...]
Shadow business secretary Angela Eagle set to quit as Corbyn faces leadership revolt June 26, 2016 Shadow business secretary Angela Eagle will be one of the next high profile members of Jeremy Corbyn's shadow cabinet to quit, City A.M. understands. In total, 11 members of the shadow cabinet have resigned while shadow foreign secretary Hilary Benn was sacked in the early hours of Sunday morning for allegedly encouraging ministers to resign. Senior Labour MPs [...]