It’s time to stop arguing about expanding Heathrow – and get building May 2, 2019 Thankfully for the UK economy, the High Court yesterday quashed a challenge brought against the government’s decision to expand Heathrow Airport. No one questions the need for scrutiny. Indeed, detailed consideration for how to manage the impact of the expansion on local people – which for some will be significant – lies ahead through the [...]
Theresa May moves away from ‘no deal is better than a bad deal’ Brexit pledge May 1, 2019 Theresa May said she was talking in the “abstract” when she claimed “no deal is better than a bad deal” during a grilling over the Brexit stalemate. Appearing before parliament’s powerful Liaison Committee of leading MPs, the Prime Minister repeatedly refused to say whether she would back the UK leaving the EU without an agreement [...]
City watchdog launches review of the financial advice market May 1, 2019 The City watchdog today launched a review of the financial advice market amid concerns investors are paying too much. The Financial Conduct Authority’s review will look at what consumers want from the market and how the market works to deliver this. The FCA will review how changes made since 2012, including the retail distribution review [...]
City A.M.’s shadow MPC votes to hold interest rates despite recent sunnier data May 1, 2019 Ongoing Brexit uncertainty means the Bank of England should hold interest rates steady tomorrow, City economists have said, despite the economy recently showing signs of strength. Read more: UK inflation rate holds steady sending Britons' real wages higher The Bank’s monetary policy committee (MPC) will at midday tomorrow announce its latest interest rate decision, along [...]
Advertisers losing talent to deep-pocketed tech giants, says industry boss May 1, 2019 Advertising firms are missing out on the best recruits as top talent is scooped up by tech firms, a senior industry boss has said. Nigel Vaz, newly-elected president of the Institute of Practitioners in Advertising (IPA), said advertisers should act like start-ups in a bid to match the deep pockets and attractive corporate cultures of [...]
Government cancels no-deal Brexit ferry contracts at £50m cost to taxpayer May 1, 2019 The Department for Transport (DfT) has cancelled its no-deal Brexit contracts with ferry companies, racking up heavy costs for the taxpayer. Read more: Government ferry contracts to cost millions more if Brexit is delayed The government last year spent more than £100m chartering extra ferries to ease congestion in the Channel in the event that [...]
Blockchain technology promises to change the world, but so far it has delivered very little May 1, 2019 Last month, I attended a debate in the Houses of Parliament, not on the legalities of the ever so tedious withdrawal agreement, but on cryptocurrency and blockchain. At first, I was surprised that a discussion on these topics only lasted an hour and a half considering that, although blockchain technology powers cryptocurrencies such as bitcoin, [...]
Extinction Rebellion hates capitalism, but these climate change protesters wouldn’t exist without it May 1, 2019 The Extinction Rebellion protesters on the streets of London seemed to consist of two disparate interest groups: pensioners and the young. Their shared connection is that most of them – certainly in the former group – seemed to be affluent. An identical alliance was observed a few months ago in the rather unlikely setting of the [...]
UK manufacturing growth slows as Brexit extension reduces stockpiling May 1, 2019 Growth in the UK manufacturing sector slowed in April, according to closely-watched data released today, following a faster-than-expected expansion in March due to Brexit stockpiling. Read more: UK manufacturing hits 13-month high as Brexit stockpiling peaks The headline purchasing managers’ index (PMI) fell to 53.1 in April, down from March's 13-month high of 55.1, according [...]
Tech sector activity gets a boost despite falling optimism April 30, 2019 Business activity growth in the UK technology sector has recovered to its fastest pace since the second quarter of 2018, while optimism fell to a 10-year low. The strength of business activity rose to 54.4 in the first three months of 2019, up from 52.3 at the end of last year, according to data from [...]