Disruptive no-deal scenario could weaken the UK equity market and pound October 9, 2019 UK equities and sterling could both suffer a double-digit hit to their value from a disruptive no-deal Brexit, according to a new financial stress test. In the event of a disorderly departure from the European Union, UK equity markets and the pound relative to the dollar could weaken by 15 per cent and 10 per [...]
Inmarsat set to win green light over $3.4bn private buyout October 9, 2019 A blockbuster buyout of British satellite giant Inmarsat looks set to go ahead after clearing a major hurdle this evening. Read more: Government warned SMES can’t live off ‘kind promises’ Inmarsat and its buyers have proposed a series of remedies, such as a pledge to keep the firm in the UK for several years as [...]
Majority of British drivers unaware of documents needed for no-deal Brexit October 9, 2019 Millions of British motorists are not aware they may be required to carry an insurance green card to drive in Europe after Brexit. UK citizens driving in the EU will need the card in the case of a no-deal Brexit to prove they have third-party insurance. Read more: Johnson facing cabinet revolt over a possible [...]
Government warned SMEs can’t live off ‘kind promises’ after Brexit finance council meeting October 9, 2019 The Federation of Small Businesses (FSB) has said small businesses can’t “live off kind promises for the future” after the UK leaves the EU after the first meeting of a new finance council designed to support small and medium sized enterprises (SMEs) secure lending post-Brexit. The finance council – made up of representatives from banks, [...]
General Election 2019: Get ready for the populist onslaught October 9, 2019 Parliament might have blocked the Prime Minister’s repeated efforts to go to the polls but everyone in Westminster is gearing up for a pre-Christmas election. Even ministers who still claim their top priority is to “Get Brexit Done” are unambiguously positioning themselves for a snap vote. The working assumption is that a General Election will [...]
Why BT’s house party with EE is about to end in a hangover October 9, 2019 If there’s a crisis on the British high street, no one told Philip Jansen. The BT boss has announced that his company will return to bricks-and-mortar, shacking up with mobile subsidiary EE. The shops are part of a wider transformation plan at the telecoms stalwart. Since taking over as chief executive in February, Jansen has [...]
Will the buyout of Thomas Cook’s 555 high street stores take off? October 9, 2019 At 11.53pm on Tuesday night, the directors of family-owned Sunderland-based holiday firm Hays Travel clinched what is surely the biggest coup of their careers: buying Thomas Cook’s entire collection of high street stores. They appear to have timed their move well. Although owners John and Irene Hays wouldn’t tell reporters the price yesterday, they have doubtless [...]
Donald Trump says the Federal Reserve “don’t have a clue” October 9, 2019 Donald Trump has upped his attacks on the US Federal Reserve, saying they “don’t have a clue”. The President was responding on social media to comments made by Fox News presenter Maria Bartiromo saying the Fed was “behind the curve” on cutting interest rates. Read more: Trump threatens to obliterate Turkish economy if it defies [...]
Centrist Tories ‘reassured’ over no deal Brexit after Downing Street meeting October 9, 2019 One Nation Tories have been won over by the Prime Minister, after telling him it would be “unacceptable” to stand on a no-deal Brexit election pledge. Damian Green, who heads up the centrist caucus of around 80 MPs, met with Boris Johnson in Downing Street today along with colleagues Victoria Prentis, Gillian Keegan and James [...]
EU warns of cyber risks from state-backed 5G suppliers October 9, 2019 The EU has warned of increased cybersecurity attacks from state-backed 5G suppliers in an apparent toughening of rhetoric against Chinese tech firm Huawei. In a report published today, member states said it was crucial to assess the risks posed by firms with a large market share in the bloc. Read more: US looks to fund [...]