Mark Carney says negative interest rates ‘not an option’ for BoE August 19, 2019 Bank of England governor Mark Carney has said his institution will not pursue negative interest rates, a monetary policy device employed by the European Central Bank (ECB) and Bank of Japan, among others. Read more: BoE boss Mark Carney pulls out of UK-China dinner “At this stage we do not see negative rates as an [...]
Abellio takes over East Midlands franchise from Stagecoach August 19, 2019 Dutch train firm Abellio has officially taken over the East Midlands franchise from Stagecoach. Abellio will operate the franchise, which connects London St Pancras to the East Midlands, for the next eight years from today. Read more: Government signs controversial East Midlands contract with Abellio It said it was bringing £600m worth of investment to [...]
Caution over major purchases as uncertainty dents UK economy August 19, 2019 Consumer appetite for major purchases fell at the second-fastest rate in almost two years during August, as Brexit uncertainty and fears of an economic slowdown held back spending. IHS Markit’s monthly household finance index dipped to a three-month low after reporting the second-sharpest drop in demand for major purchases since September 2017. Read more: Retailers [...]
Wealth manager Tilney confirms Smith & Williamson merger talks August 19, 2019 Tilney has confirmed that it is in merger talks with rival Smith & Williamson, following reports of a potential tie-up between the two private wealth managers. Tilney confirmed it is in talks with Smith & Williamson “about a potential combination of our businesses” in a statement this morning. A merger would create a firm with [...]
Italy’s League floats tax cut paid for by deficit August 19, 2019 Italy’s ruling League party has set up another clash with the European Union over budget rules, saying it wants to cut taxes by raising its deficit. Read more: Italy’s political crisis triggers bond sell-off The statement of intent comes with Italy in political crisis after the League said its coalition government with the anti-establishment Five [...]
Sajid Javid quashes stamp duty speculation August 19, 2019 Chancellor Sajid Javid has moved to quash speculation he may be about to shift stamp duty from buyers to sellers. During an interview with The Times, Javid had appeared to float the idea ahead of his first Budget. When asked about changing who pays stamp duty to save first-time buyers paying any tax, he said: [...]
Trump says he doesn’t want to do business with Huawei over ‘national security threat’ August 19, 2019 President Donald Trump has said he doesn’t want the US to do business with Huawei, following reports that his administration is set to extend a licence allowing the Chinese company to purchase US goods. Speaking to reporters on Sunday, Trump said he did not want to do business with Huawei over national security concerns. “At [...]
Malaysia offers UK post-Brexit trade deal on palm oil ‘rethink’ August 19, 2019 Malaysia’s government has offered the UK a post-Brexit trade deal, with improved terms – but only if the country rethinks “the European Union’s misguided policy on palm oil”. Writing in Bloomberg, Malaysian Prime Minister Mahathir Mohamad claimed the EU’s 2017 decision to phase out and ultimately ban biofuels made from palm oil was not based [...]
Downing Street ramps up election prep as Corbyn throws down gauntlet August 19, 2019 Boris Johnson’s team within Downing Street is ramping up preparations for a general election, as Jeremy Corbyn today pledges to make a second referendum part of his campaign. Government advisers have been tasked with producing ideas that can be taken forward during a general election, according to the Guardian. At a meeting on Friday, Johnson’s [...]
Apple’s Tim Cook cautions Donald Trump over China tariffs August 19, 2019 US president Donald Trump said that he has spoken with Apple chief executive Tim Cook about the impact of US tariffs on Chinese imports and that Cook “made a good case” that tariffs could hurt Apple. According to Trump, the pair spoke about competition between Apple and South Korean rival Samsung, with Cook arguing that [...]