Francois Hollande says UK must face consequences as he urges speedy Brexit July 1, 2016 French President Francois Hollande has said the UK must now face the consequences of Brexit. Speaking on the sidelines of the Battle of the Somme centenary ceremonies in northern France, Hollande said that Brexit can't be "cancelled" or "delayed", after having met with Prime Minister David Cameron, who was also in attendance. "Being in the [...]
Scottish National Party hits out at suggestions by Michael Gove that Barnett formula could be axed July 1, 2016 Former mayor of London Boris Johnson may have been joined by the Scottish National Party in anger with Michael Gove's decision to run for leader of the Conservatives after he hinted at axing the Barnett formula. The justice secretary today made suggestions that he could scrap the Barnett formula, the system that works out Scotland's [...]
Investors told to reject Sainsbury’s incentive plan at the annual general meeting next week July 1, 2016 A shareholder advisory group has told its members to oppose Sainsbury's incentive plan at the retailer's annual general meeting (AGM) next week. In a report for investors, Pensions & Investment Research Consultants (PIRC) said of Sainsbury's long term incentive plan: "The maximum potential award under the proposed plan is 250 per cent of salary, which is considered excessive, [...]
John McDonnell says Jeremy Corbyn could face a leadership challenge with days as he gives economic response to Brexitin July 1, 2016 Jeremy Corbyn is likely to face a leadership challenge within days, shadow chancellor John McDonnell has said. McDonnell said that Corbyn will take part in any future leadership contest, but added he is confident the party could unite after the vote. "The internal difficulties within both parties will be resolved, hopefully, by democratic means, and on [...]
Easyjet confirms it has kicked off process to gain certification elsewhere in Europe after Brexit vote July 1, 2016 Budget airline Easyjet has confirmed that has kicked off the process to gain an air operator certificate (AOC) elsewhere in Europe, following the UK's vote to leave the EU. The company was responding to reports that it was in talks about moving its headquarters away from the UK. "As part of Easyjet’s contingency planning before the [...]
Mike Ashley is looking to make himself the chairman of Findel July 1, 2016 Sports Direct boss Mike Ashley is looking to become chairman of gift retailer Findel, a company Sports Direct owns a 30 per cent stake in. Sky News reported Ashley is talking to the board of Findel about the move over the past few weeks. Ashley, who recently admitted to MPs that he couldn't control Sports [...]
George Osborne ditches plans to run budget surplus July 1, 2016 George Osborne has signalled he is ready to drop his target to balance the books by the end of the decade as he pointed to severe economic uncertainty in the aftermath of the EU referendum. Speaking in Manchester, the chancellor said he needed to be "realistic" about the chances of meeting his self-imposed target to [...]
Michael Gove boasts he is the candidate “for change” as he dismisses Boris Johnson as incapable of uniting party July 1, 2016 Justice secretary Michael Gove has claimed he is the candidate "for change", after Boris Johnson pulled out of the race yesterday. Focussing on the need for change, Gove said that the historic moment the country finds itself in requires leadership that can make the best of new opportunities, proven from his time reforming education and justice. [...]
Austria’s constitutional court orders a re-run of the presidential election after far-right challenge July 1, 2016 Austria's top court has thrown out the results of its presidential election and ordered the vote to be re-run, plunging the Eurpoean Union into a fresh crisis one week after the UK voted to breakaway. The ruling comes after the far-right Freedom Party, which was beaten in the final round the presidential election in May by just [...]
Eurozone unemployment nears five-year low July 1, 2016 Unemployment across the Eurozone dropped to its lowest level in nearly five years in May. Across the single currency bloc, the rate of joblessness was 10.1 per cent – down from 10.2 per cent in April – in another sign that the Eurozone economy is heading in the right direction. The fall takes the rate of [...]