IMF head Christine Lagarde backs up Mark Carney in battle over a Brexit recession May 13, 2016 Brexit could push the UK into recession, hit wages, lead to higher prices and shatter London's status as the financial capital of the world, Christine Lagarde, head of International Monetary Fund (IMF) has said today, in the second high-profile Brexit warning in as many days. With less than six weeks to go until the EU referendum, – described [...]
EU referendum: Former Prime Minister Sir John Major attacks some fellow Conservatives for “morphing into Ukip” with immigration arguments May 13, 2016 Former Prime Minister Sir John Major has jumped back into the EU debate, attacking pro-Leave Conservatives that he says are "morphing into Ukip". In a speech later today, Major will say that some Tories are fanning the flames of prejudice on hot topics such as immigration. While accepting the level of immigration is cause for [...]
Thatcher’s former energy secretary Lord Howell warns of China’s secret plan for Hinkley May 13, 2016 Margaret Thatcher's former energy secretary has warned that China has a secret plan to build two nuclear reactors on the Hinkley site if French utility giant EDF's controversial £21bn project falls through. Speaking in the House of Lords last night, Howell said: "Is my noble friend aware that the Chinese also have a plan B, which [...]
Brexocalypse Now? The multi-billion pound Brexit risk to the Square Mile, mapped May 13, 2016 Here's another apocalyptic view of the potential consequences of Brexit – this time on the City of London. [Scroll to the bottom to see a visualisation of how Brexit could affect the City's property sector] New research suggests billions of pounds in property value and thousands of jobs are at risk of being wiped from the [...]
Online polls got the London Mayoral race right – don’t ignore them for Brexit May 13, 2016 Books, articles and countless university theses will be written about the 2016 campaign for London Mayor, duly won by Sadiq Khan last week. Much will be said about the various candidates, campaigns and tactics, but it’s also worth noting that a number of pollsters got the result not just right, but bang on. After pollsters [...]
EU referendum: Brexit threat doesn’t explain economic woes May 13, 2016 June 24th will be a day of revelation. Depending on your perspective, London will either be freed from the shackles of a sclerotic European Union, or the fog of uncertainty will be lifted by a Remain vote, triggering a flood of welcome investment. Those are the cheery viewpoints, at least. Striking a less positive note, Bank [...]
Carney ignites recession row with Brexit warning May 13, 2016 Bank of England governor Mark Carney sparked an intense political row yesterday after he said that a vote to leave the European Union could plunge Britain into recession. Former chancellor Lord Lamont slammed Carney’s “unwise” choice of words, while two Conservative members of the influential Treasury Select Committee – which is appointed by Parliament to [...]
MPs warn that not enough is being done to protect consumers from mis-selling, and that the recently introduced pensions freedoms could spark a whole new scandal May 13, 2016 MPs are warning that the next financial scandal could be on the horizon, as too little is being done to address the cultural aspects that lead to wrongdoings, such as payment protection insurance (PPI) mis-selling, while a landmark pensions change has created new opportunities for such behaviours to flourish. A report released today by the Public Accounts Committee (PAC) [...]
Brazilian President Dilma Rousseff stands down ahead of impeachment trial May 12, 2016 Brazil's Senate has brought down President Dilma Rousseff, after they voted strongly in favour of putting the embattled politician on an impeachment trial. Following a marathon overnight debate, senators voted 55-22 to try Rousseff for breaking budget laws. The rules mean Rousseff has been suspended from office ahead of her trial. Read more: Rousseff's impeachment is Brazil's [...]
Europe postpones publication of 2017 draft budget as Brexit vote nears May 12, 2016 The European Union has pushed back the publication of its draft budget for 2017 – potentially until after the UK holds its referendum on whether to remain a member of the EU. The Budget was originally scheduled to be published on 25 May, but Politico reported this afternoon that it was now not likely to surface until [...]