Billions of pounds available by backing Theresa May’s deal, says Philip Hammond March 9, 2019 Chancellor of the exchequer Philip Hammond has said getting behind Theresa May's Brexit deal would free up billions of pounds in extra public spending or tax cuts. Hammond also dismissed the importance being placed on the Irish backstop, which could force the UK into an EU customs union in order to avoid a hard Irish border, claiming they are "not [...]
EU negotiator Michel Barnier offers UK unilateral customs union exit March 8, 2019 The EU’s chief negotiator Michel Barnier has said the UK will have the option to withdraw unilaterally from the customs union element of the backstop agreement. Barnier today briefed EU ambassadors on the ongoing talks with Prime Minister Theresa May and outlined the proposals it will offer. Read more: Barnier rules out time limit on Irish [...]
European M&A value hits six-year low driven by fall in UK deals March 8, 2019 European merger and acquisition values have hit a six-year low in 2019 so far driven by Brexit-related uncertainty among foreign investors. M&A deals in Europe have reached $81.1bn in the year to date, down 60 per cent on the previous year to levels not seen since 2013, according to analysis from Refinitiv. Read more: M&A [...]
Tories would win snap election if called tomorrow, according to latest polling data March 8, 2019 The Conservative party would win a snap general election if it were called tomorrow, according to the latest Yougov poll. Yougov’s latest voter intention survey found 40 per cent of people would vote for the Conservatives, while just 31 per cent would vote for Jeremy Corbyn’s Labour party. Read more: May presses EU to commit [...]
May calls on EU for ‘one last push’ to get a Brexit deal through parliament March 8, 2019 Theresa May today called on the EU to make “one more push” to reach agreement on a Brexit deal before time runs out. Read more: Theresa May is a home secretary dressed up as Prime Minister Addressing workers at a Grimsby energy company, the Prime Minister repeatedly said “Let’s get it done” in an appeal [...]
Norwegian $1 trillion wealth fund to drop oil and gas investments March 8, 2019 Norway’s sovereign wealth fund will drop oil and gas exploration companies from its benchmark index, the country’s finance minister announced today. The move aims to reduce risk to the $1 trillion fund, which is the largest in the world, from a “permanent oil price decline”. Read more: Norwegian wealth fund buys up old Amazon HQ [...]
UK assets are very compelling when looked at on a global basis March 8, 2019 | Sponsored As City AM is chatting with Mark Slater, warnings of a ‘No Deal’ Brexit are again flashing across the media headlines. The biggest news story in town is impossible to ignore as Theresa May, Donald Tusk and co make painfully incremental progress in their high-stakes discussions about Britain’s EU exit. But as the politicians flounder, Slater’s [...]
May presses EU to commit to Brexit backstop changes as parliament vote approaches March 8, 2019 The Prime Minister is set to urge the EU to commit to legally binding changes to the so-called Irish backstop today, as she seeks to get her Brexit deal through parliament. Read more: Theresa May is a home secretary dressed up as Prime Minister Theresa May will say the EU’s decisions can “have a big [...]
High street suffers worst February in a decade as retail woes continue March 8, 2019 Half-term holidays and unseasonably warm weather failed to boost the struggling high street as retailers suffered their worst February in a decade. In-store like-for-like sales dropped 3.7 per cent last month, marking the worst figures since 2009, according to data published by accountancy firm BDO. Read more: Quiz shares plummet on second profit warning this [...]
The real John Lewis bonus today was Waitrose March 7, 2019 Caution was in no short supply at this morning's breakfast with the bosses of John Lewis Partnership. Over coffee and croissants at its Victoria HQ, the retail giant’s directors echoed worries that the industry as a whole has been voicing for months: namely, the major structural changes on the high street and fears over a [...]