Editor’s notes: Think Brexit voters were just angry? Think again. November 4, 2016 The hot topic of the day is the process of Brexit. With the High Court ruling in favour of those who claimed that the government lacks the constitutional authority to trigger Article 50 without parliamentary approval, it’s an absolute field day for legal commentators and armchair constitutionalists. Those who cry that the judgement represents “a [...]
A new rail franchise will combine HS2 with InterCity West Coast services November 4, 2016 The government has confirmed a new rail franchise will combine the current InterCity West Coast services with the development and introduction of High Speed 2 (HS2) services. The new franchise, West Coast Partnership, will be responsible for services on both the West Coast main line from 2019, and designing and running the initial high speed [...]
Tandem is go: Another digital challenger bank has opened its doors November 4, 2016 Tandem, one of a handful of the UK’s digital challenger banks hoping to give the big four a run for their money is opening its doors for business, City A.M. can exclusively reveal. The Tandem mobile banking app will begin rolling out from today to those who have already signed up, with ambitious plans to make [...]
Oil boss needs buyers to Shell out for assets November 4, 2016 A brave face. That's the best way to describe this week's trading updates from Britain's two oil behemoths. It’s now a familiar visage for BP's Bob Dudley and Shell's Ben van Beurden. Oil prices continue to hover stubbornly below $50-a-barrel, raising justifiable concerns about the companies’ ability to cover their dividends without substantial further cuts [...]
S&P 500 has its longest losing streak since financial crisis as Trump nerves worsen November 4, 2016 The US S&P 500 has recorded its longest stretch of declines since the financial crisis in 2008. That marks its eight day on the trot of drops – falling 0.4 per cent thanks to a drop in Facebook shares and ongoing uncertainty over the upcoming US presidential election, causing investors to dial back the risk. [...]
The referendum is over: Let’s act like it is November 4, 2016 Brexit is about to be betrayed. Wealthy financiers have coopted unelected judges into a war on democracy, seeking to undermine the will of the people by fair means or foul. Yesterday’s High Court ruling that Parliament must decide on the triggering of Article 50 is an insult to the 17.4m who voted for Brexit, and [...]
Businesses don’t think the UK will become more competitive in 2050 than it is now as infrastructure’s stalling November 4, 2016 Nearly two thirds of businesses don't think the UK will be any more internationally competitive by 2050 than it is now. That'll be because of infrastructure stalling over the coming years, according to the 2016 CBI and Aecom infrastructure survey. CBI director-general Carolyn Fairbairn said the results were "a concern", particularly in the wake of the Brexit vote, when the [...]
The UK high street gets an early Christmas present as high street sales get a boost for the first time since January November 4, 2016 Is the high street back on track? High street sales are back in positive territory after falling for the past nine months. Read more: Retailers in Mayfair and Bond Street to be hardest hit by rates hike According to data from accountants BDO, sales on the high street grew 0.7 per cent year-on-year in October. [...]
City Moves for 4 November 2016 | Who’s switching jobs November 4, 2016 Hastings Group Hastings Group has appointed Teresa Robson-Capps and Alison Burns as non-executive directors with immediate effect. Teresa is currently a non-executive director and member of the audit committee for Clydesdale and Yorkshire Bank Group and is chairman of the ACS Group. She was previously a non-executive director for National Australia Bank; Europe/Clydesdale Bank. Teresa brings significant [...]
UK house price growth set to cool over the next five years November 4, 2016 London house prices will grow by 11 per cent by 2021, according to new research, lagging behind the UK as a whole. Savills is predicting two years of low house price growth due to heightened economic uncertainty as the terms of Brexit become more clear. UK house price growth is expected to be 13 per [...]