Europe’s banks are right – the EU must act to avoid a Brexit cliff edge disaster October 16, 2018 Retail king Lord Wolfson raised eyebrows at the weekend when he insisted that a no deal outcome to Brexit talks “would not be a disaster”. The Next boss was referring to the overall effect on trade and, politically, he articulated his point well – you have to be prepared for no deal in order to [...]
Mark Carney told to clarify dramatic house price fall warning in case of ‘no-deal’ Brexit October 11, 2018 Bank of England governor Mark Carney needs to clarify whether house prices would be slashed by a third in a 'no deal' Brexit, the chair of the Treasury select committee has insisted. Nicky Morgan has written to Carney asking him to clear up exactly what he told the Cabinet on September 13 during a presentation [...]
UK banks risk being downgraded in no-deal Brexit situation October 11, 2018 UK banks could be downgraded in the event of a no-deal Brexit, according to ratings agency Standard & Poor. The agency's position is that the UK will successfully negotiate a deal that provides a period of continuity for financial institutions, however it said that if the UK crashes out of the European Union in March [...]
Surveyors forecast fall in house prices as house buyers decline October 11, 2018 A renewed decline in the number of house buyers is piling further pressure on London’s strained property market, according to a closely followed survey out today. The Royal Institution of Chartered Surveyors (Rics) has said there was “caution” from buyers last month, as Bank of England governor Mark Carney reportedly warned prices could drop 35 [...]
Bank of England chief economist Andy Haldane hails ‘new dawn’ for wages after decade of stagnation October 10, 2018 The Bank of England's top economist today hailed a "new dawn" for wage growth after a "lost decade" for British workers' pay packets. Andy Haldane said that average weekly earnings growth had shown a "clear rise" and that other indicators of labour market tightness have increased to historically high levels. The Bank of England and [...]
Bank of England steps up Brexit derivatives warnings in plea for EU to take action October 9, 2018 The Bank of England has doubled down on its call to the EU to put measures in place to allow European banks to access UK-based clearing houses after Brexit, avoiding financial market chaos which could damage firms across the continent. City lobby groups echoed the Bank's plea, urging the EU to stop using clearing as a [...]
Commercial real estate might be reliably disinteresting now, but don’t get too cosy October 9, 2018 At a time of political and market turbulence in the UK, there is one area where we’ve seen relative stability. Commercial real estate data in recent months has been fairly constant, with no significant changes to the outlook. The returns for commercial real estate have remained disappointing relative to recent years, yet there has been [...]
Cenkos boss steps down after profits vanish October 9, 2018 Stockbroker Cenkos Securities surprised the City this morning after announcing its chief executive is to step down in the wake of tumbling profits. Boss Anthony Hotson will leave his post at the end of the month, putting an end to a 12-month reign which was dampened last month when Cenkos halved its dividends and posted [...]
Could YouTube star Joe Sugg win Strictly Come Dancing? October 8, 2018 When Strictly Come Dancing unveiled its 2018 lineup, I imagine there would have been more than a couple of blank faces at the name Joe Sugg. While reality stars frequently feature on the show, Sugg is the first social media celebrity to ever appear. But if Strictly’s core fanbase aren’t familiar with him, plenty of [...]
Bank of England chief economist Andy Haldane to head industrial strategy council October 7, 2018 The government has appointed Bank of England chief economist Andy Haldane to chair a new industrial strategy council in a bid to boost Britain’s low productivity. The council, which will meet three or four times per year, will publish a regular report on the government’s progress on implementing its industrial strategy. The body will also [...]