Theresa May won’t rule out a transitional deal with the EU because she’s worried about a “cliff edge” November 21, 2016 Downing Street is refusing to rule out a transitional deal between the UK and the EU following Brexit, after Theresa May warned of a "cliff edge" on the day the UK leaves the EU. Speaking at the CBI annual conference today, May said talks with the EU "cannot be done quickly, or without give and [...]
Asian investors have poured over £1.5bn into London property since the Brexit vote November 21, 2016 Asian investors have been pouring their money into London commercial property following the Brexit vote. Figures from Cushman & Wakefield seen by City A.M. show that Asian buyers have spent over £1.5bn in the capital since June 2016, snapping up properties in the City and the West End. Read more: Apple's move to Battersea Power Station boosts [...]
Sterling dive strengthens defence manufacturer Chemring’s order book to the tune of £100m November 21, 2016 The fall in the value of sterling has bolstered defence equipment manufacturer Chemring's order book to the tune of £103m. Chemring's order book stood at £593m on 31 October thanks to the pound weakening against the US dollar, the company said in a post-close statement today, up from £569.6m last year. On a constant currency basis, Chemring's [...]
Red tape? What red tape, asks Atom Bank boss November 21, 2016 Up and coming lenders are not facing as many regulatory hurdles as you might think, the boss of one of the UK's newest challenger banks has said today. Speaking at the Confederation of British Industry annual conference, Mark Mullen, chief executive of Atom Bank, noted that the "regulatory hurdles have got better", not worse, since the [...]
This Time Out survey claims London is NOT the most fun city in the world (because we’re hungover and lonely, apparently) November 21, 2016 London is not the most fun city in the world. This is the outrageous claim made by Time Out, which has today published a new ranking of cities by fun factor. The UK capital, the study noted, is culturally vibrant but “feels a bit lonely (and has the most hangovers)”. Read more: Sadiq Khan: “I’ve [...]
Citi and JP Morgan top regulators’ list of systemically important banks, as HSBC and Barclays move to lower tier November 21, 2016 Citigroup has joined JP Morgan Chase as one of the world's top two "systemically important banks", according to an updated list published today by the Financial Stability Board (FSB). Banks in the top tier will have to hold 2.5 per cent of their assets as buffer capital in case of another crisis. This means that US [...]
Brace yourselves: Donald Trump could be coming to the UK next year November 21, 2016 Donald Trump could make a state visit to the UK as soon as next year, Downing Street has confirmed. Trump has already invited Prime Minister Theresa May to visit the US, and now officials have confirmed that plans are being drawn up for a reciprocal invite. A spokeswoman for Theresa May said today a formal [...]
Black Friday 2016: Here are the best deals available on Amazon today November 21, 2016 Black Friday is no longer just a day – it has evolved into a week of deals. Today is no exception: and if you think "there's never anything for me in the deals", think again. Spending is expected to hit £2bn this year as online retailers discount items left, right and centre. Here's what you can get [...]
Brexit fears send profits plummeting at Walkers Crips as growth spending drives revenue down November 21, 2016 Wealth investment company Walkers Crips reported a massive drop in profit in the first half of its financial year as the Brexit vote continues to keep companies guessing about the future. Pretax profit fell by 91 per cent to £53,000 from £589,000 in the six months to the end of September. Revenue dropped to £13.2m from [...]
Falling sterling could mean more of your savings are protected November 21, 2016 Savers have been pretty heavily punished by rock-bottom interest rates in recent years – but now the Prudential Regulation Authority (PRA) wants to make things a little easier, by raising the protection it offers to savers. At the moment £75,000 of your savings are protected under the deposit protection limit, meaning if your bank fails you [...]