UK current account deficit running at a near record high June 30, 2016 The UK's current account deficit is still running at a near record high, stoking fears about a balance of payments crisis in the wake of the UK's referendum on the EU. The deficit – a measure of the difference between money coming in and going out of the country – came in at £32.6bn in the [...]
Singapore bank UOB suspends London property loans following Brexit vote June 30, 2016 Singaporean bank UOB has become the city state's first lender to suspend loans for London properties citing uncertainty caused by the result of last week's EU referendum. "We will temporarily stop receiving foreign property loan applications for London properties," a UOB spokeswoman said in an email. "As the aftermath of the UK referendum is still [...]
Michael Gove ditches Boris Johnson and enters the race to succeed David Cameron June 30, 2016 Michael Gove has this morning announced he will stand in the Conservative leadership race to succeed David Cameron as prime minister. Gove, who headed up the Vote Leave campaign, was widely expected to throw his support behind Boris Johnson in a joint bid, but has now sought to distance himself from his colleague. In a statement this [...]
More than 10,000 people have joined the Liberal Democrats since the EU referendum June 30, 2016 At this stage, the Liberal Democrats may be the only party to be doing well out of last week's Brexit vote. More than 10,000 people have signed up to join the Lib Dems since the EU referendum result was announced last Friday, at a rate of more than one per minute. Leader Tim Farron was quick to [...]
Consumer confidence stayed steady in June ahead of the EU referendum – but the public was gloomy about the global economic outlook June 30, 2016 Consumer confidence stayed steady in June, immediately before the UK voted on its membership of the European Union. The GfK consumer confidence index for June, which was researched between 1 June and 15 June, remained at May's level of -1. Consumers were far more positive about their own personal finances than the global economic situation. The public's attitude [...]
Deutsche Bank and Santander fail US banking stress tests June 30, 2016 Santander and Deutsche Bank have failed the US Federal Reserve's stress tests, in another blow to the global banking sector. The central bank's comprehensive capital analysis and review programme, which measures how well lenders would perform in a range of different scenarios, found the banks lacked necessary internal controls and were worried about their risk management [...]
Nigel Farage says Britain could continue to contribute to EU budget – but will not compromise on freedom of movement June 30, 2016 Ukip leader Nigel Farage has said Britain will make compromises in order to access the Single Market but will not back down on immigration. Farage made the remarks in an interview with French newspaper Le Figaro following the last week's vote to leave the European Union. He said the UK could continue to contribute to the EU budget [...]
City Moves for 30 June 2016 | Who’s switching jobs June 30, 2016 Countryside Countryside has appointed Matthew Higgs managing director of its Partnerships South business. In his new role, Matthew will spearhead the expansion of delivering affordable homes for those who live and work in London and the South-East. Matthew will be responsible for driving the performance of Partnerships South, providing strategic advice to Richard Cherry, chief executive of Partnerships, and [...]
Britain will need an effective opposition June 30, 2016 Given the scale of the change that the British people have voted for, and the chaos it has unleashed across European politics and markets, it may seem strange that the number one story in town has been the circular firing squad that currently passes for Her Majesty's Opposition. Jeremy Corbyn has endured days of high-profile [...]
Trade groups call for taskforce to safeguard UK’s Brexit negotiations June 30, 2016 Business groups are mounting pressure on the government to take action following the UK’s vote to quit the European Union. The British Chambers of Commerce (BCC) has called for the creation of a business taskforce to “ensure business priority issues form a key part of both domestic policy and EU exit negotiations”. The proposals were [...]