Germany, France and Italy will not holds talks with UK on Brexit before Article 50 is triggered June 27, 2016 Germany, France and Italy have said the EU will not hold talks with the UK on Brexit until Article 50 has been triggered. Speaking alongside French President Francois Hollande and Italian Prime Minister Matteo Renzi in Berlin, German Chancellor Angela Merkel described the UK’s vote for a Brexit as a "very painful and regrettable decision". [...]
Sajid Javid will today meet with business groups to hear their concerns following the UK’s vote to leave the EU June 27, 2016 Sajid Javid will today meet with business leaders in a bid to discuss the challenges generated by last week's vote to leave the EU. The business secretary will meet with representatives from groups including the Confederation of British Industry, the Institute of Directors, the British Bankers Association and the EEF, the manufacturers' association. In what is [...]
It’s the beginning of the end – either of Jeremy Corbyn or the Labour Party itself June 27, 2016 Nine months after being elected leader with the biggest mandate in the history of the Labour Party, Jeremy Corbyn stands on the precipice of being ousted from the post. Within hours of the Brexit result on Friday morning, rumours of impending shadow ministerial resignations began to circulate. Extraordinarily, more than two-thirds of the shadow cabinet [...]
David Cameron has said that Britain is in “a position of strength” to handle the aftermath of last week’s Brexit vote June 27, 2016 Prime minister David Cameron has sought issue reassurances on the UK's strength after markets have continued to struggle on the second day of trading since the vote to leave the EU. Speaking in the House of Commons, yesterday, Cameron said that Britain is in “a position of strength” as it seeks to confront the fallout from the vote to [...]
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 [...]