The Bank of England could cut its rates after vote for Brexit, according to Bank of America Merrill Lynch as it warns of imminent recession June 26, 2016 The Bank of England could be about to cut interest rates following the vote for the UK to quit the European Union. Experts at some of the world’s biggest banks have lined up say they’re expecting the Bank to ease further over rates at its next monetary policy meeting in July, and potentially restart quantitative easing [...]
George Osborne to break Brexit silence and try to reassure UK on economy June 26, 2016 George Osborne is to break his post-EU referendum silence on Monday morning. The chancellor will seek to provide reassurance about financial and economic stability following the UK’s vote for a Brexit. Read more: This is the end of Cameron and Osborne, says Danny Blanchflower Along with Prime Minister David Cameron, who announced his resignation on [...]
The pound is falling further on the dollar after Friday’s historic drop June 26, 2016 The pound dropped 1.9 per cent on Sunday evening UK time, extending a fall of more than eight per cent on Friday. Sterling racked up its worst daily fall on records dating back to 1971 at the end of last week after the UK voted for a Brexit. Read more: Sterling suffers historic crash as Brits back [...]
After Brexit all-nighter, City prepares for re-opening of Asian markets and FTSE June 26, 2016 Traders are preparing for a busy start to the week after the results of the EU referendum and Brexit kept the City of London up all night on Thursday. All eyes will be on the Asian markets on Sunday night and Michael Hewson, chief market analyst at CMC Markets, told City A.M. he would not [...]
Lord Sugar slams Boris Johnson for “misleading” the British public “with lies”about Brexit June 25, 2016 Lord Sugar has pointed a finger at Leave champions Boris Johnson and Michael Gove for "misleading" the British public "with lies" about benefits of Britain leaving the EU . In a series of tweets, the Apprentice boss said that the "Leave fuelled by a festering sense of betrayal among legions of working class voters". Leave fuelled by [...]
Here’s why a petition for a second referendum is a “waste of time”, according to Britain’s election expert John Curtice June 25, 2016 The petition to hold a second referendum, which has attracted nearly two million signatures, is a "waste of time", a top expert has said. Professor John Curtice of Strathclyde University, whose exit poll last year accurately predicted the Conservatives would win the general election, has branded the petition a "waste of time". Curtice told City A.M.: "The point of [...]
Labour Party has suffered under Corbyn’s leadership, says top Labour donor John Mills June 25, 2016 The Labour Party has lost touch under Jeremy Corbyn's leadership, Labour's biggest individual donor John Mills has said. Mills, the founder of shopping firm JML Group and chair of Labour Leave, told City A.M. that Corbyn's views don't necessarily reflect that of the party. Mills, who donated £1.65m of shares in his shopping channel company to the party, said the Labour leader [...]
Angela Merkel: Don’t be “nasty” during Brexit talks June 25, 2016 German Chancellor Angela Merkel today said "it shouldn't take forever" for Britain to deliver formal notification to leave the European Union. Speaking at a news conference, Merkel said: "To be honest, it shouldn't take forever, that's right — but I would not fight over a short period of time." The German leader called for a "objective, good" [...]
UK’s European commissioner Lord Hill resigns after Brexit vote June 25, 2016 Lord Jonathan Hill, the UK's European commissioner, will step down from his role following Britain's decision to leave the European Union. Announcing his resignation on his website, Hill said he is "very disappointed" about the result of the referendum and said he doesn't believe it is right that he should carry on as the UK's top representative [...]
The City could lose its status as Europe’s financial hub, warns top ECB official June 25, 2016 Britain's decision of leaving the EU could lead to the City losing its status as Europe's financial hub, a senior European Central Bank (ECB) official has warned. Villeroy de Galhau, who is the governor of France’s central bank, said the the Leave vote is "bad news for Britain" and will have "negative consequences" for the UK economy. [...]