How Brexit will hit investment portfolios: What (little) we know so far May 18, 2016 The Bank of England and the International Monetary Fund both issued stark warnings last week about the EU referendum and the potential impact of Brexit. In a report, the IMF said that a Leave vote could have a “negative and substantial” long-run effect on UK output and incomes. Later, IMF managing director Christine Lagarde added [...]
European Investment Bank to back Thames Tideway Tunnel with £700m loan, sparking EU row May 17, 2016 The European Investment Bank (EIB) has agreed to provide a £700m loan for London's "super sewer", the largest ever loan for water investment worldwide, sparking a new row in the EU debate. The 35-year-loan is directed toward the biggest infrastructure project ever undertaken by the UK water industry, and is aimed at tackling overflows of untreated sewage [...]
Microsoft and HP dont want Brexit, coming out in favour of remaining in Europe May 17, 2016 US tech giants Microsoft and HP Enterprise (HPE) have come out in favour of Britain remaining in the Europe, just weeks before the country heads to the polls. Microsoft's UK boss Michel Van der Bel has written a letter to staff taking a position on the matter. He said: "First and foremost, we want to emphasise that we [...]
Hollande renews support for EDF’s Hinkley Point May 17, 2016 The French president today renewed his support for EDF's Hinkley nuclear power plant, amid questions about his government's support for the £18bn flagship project. "I am in favour of this project going ahead," François Hollande told Europe 1 radio in a interview today. "EDF and Areva are public companies on which we should rely. But at the same time, [...]
Cameron under fire over claims he backed remain, even while negotiating with EU May 17, 2016 Prime Minister David Cameron has come under fire from Leave campaigners after he reportedly wrote to business leaders to discuss a Remain campaign strategy even before sealing a renegotiated deal with the EU. According to the Daily Mail, Cameron wrote to Serco boss Rupert Soames just under two weeks before his renegotiation was complete. In a [...]
Turkey-EU deal could lead to increased risk of terror attacks, EU report says May 17, 2016 Terrorists and criminals are "expected" to attempt to obtain Turkish passports in the hope of reaching Europe, taking advantaged of the visa-waiver deal between Turkey and the EU, the European Commission has warned. The increased risk of an attack would come "as soon as" the programme kicks in and Turkish citizens are free to travel across Europe without visas, a [...]
EU referendum: Shadow chancellor John McDonnell says Labour key after debate brings out worst of Westminster May 17, 2016 The referendum campaign has "brought out the worst in Westminster politics", shadow chancellor John McDonnell has said.. Speaking at the TUC in London, McDonnell argued against the use of the tactics employed by both sides on the campaign so far, adding that Labour can save the debate. Instead of focussing on project fear, he said that Remain [...]
EU referendum: Remain leads as Leave camp continues infighting May 17, 2016 With over five weeks to go until the UK votes in the EU referendum, Remain continues to lead, as the Leave campaign continues to fight itself. Some 55 per cent of people support Remain, according to the latest ORB poll, a four per cent rise, while 40 per cent back Leave, a three per cent drop. [...]
Steel crisis: Small business ministers Anna Soubry slammed for saying steel sector not “totally” free market May 16, 2016 Small business minister Anna Soubry has come under fire from two influential think tanks after she suggested that the UK's steel sector should not be treated as a "totally" free market. Writing in the Sunday Times Magazine, Soubry recalled her early discussions with Prime Minister David Cameron: “Like him I believe the blast furnaces at [...]
“Persistent” poverty rates show UK citizens among the least likely in the EU to be trapped in poverty May 16, 2016 People living in the UK are among the least likely in the European Union to be trapped in poverty, new numbers from the Office for National Statistics (ONS) released today have shown. Between 2011 and 2014, 6.5 per cent of the UK’s population were classified as being in “persistent poverty”. The number – which equates to [...]