Revealed: Cancelling Commons’ recess cost taxpayers £400,000 – and MPs didn’t even vote on Brexit bills February 25, 2019 An extra week in parliament for MPs to tackle Brexit cost taxpayers’ £400,000 – yet no bills relating to the UK’s departure from the EU were voted on. City AM has learnt the decision to cancel last week’s parliamentary recess meant the Commons coffers were hit from cancelled tours, extra staff payments and postponing building works. Read [...]
Theresa May refuses to say if ministers will be sacked if they vote to delay Brexit February 25, 2019 Theresa May has refused to say whether ministers will be sacked if they vote for a plan which could see Brexit delayed beyond March 29. A proposal put forward by Labour’s Yvette Cooper could force the government to get an extension to the Article 50 negotiating process if a withdrawal agreement has not been agreed [...]
Blackrock chief executive Larry Fink calls UK ‘irresponsible’ over Brexit uncertainty February 25, 2019 Blackrock chief executive Larry Fink has slammed the UK as “irresponsible” due to the continued uncertainty surrounding Brexit. The boss of the world’s largest asset management fund told CNBC that a lack of understanding surrounding the UK’s future relationship with the EU has forced firms to take action in order to prepare. Read more: Businesses, [...]
Theresa May poised to extend Article 50 beyond March to head off a no-deal Brexit February 25, 2019 Theresa May is poised to ask the EU to delay Brexit after Tory MPs drew up an amendment to grant the Prime Minister more time in the negotiations. Last night May caused more anger in the business community when she announced that she would in fact hold the meaningful vote on 12 March, just two [...]
‘Bridge over Brexit’: UK and US strike post-Brexit derivatives and trading deal in major boost for the City February 25, 2019 Derivatives trading and clearing between the UK and the US will continue as normal regardless of the outcome of Brexit, the Bank of England said today in a major boost for the City. The US Commodity Futures Trading Commission (CFTC), the Bank of England and UK watchdog the Financial Conduct Authority (FCA) have struck a deal to [...]
Hiscox profits treble as London market returns to growth February 25, 2019 Insurer Hiscox announced its profits trebled last year as it returned to growth in its London market for the first time in three years. The firm also revealed that it has completed its Brexit preparations and is ready for the UK to leave the EU “even if British politicians are not”. The figures Pre-tax profit was [...]
Builders look to old and young to will in gaps from foreign workers after Brexit February 24, 2019 The construction industry may have to entice older employees not to retire as foreign labour dries up after Brexit, an industry body has said. The Construction Industry Training Board (CITB) said its members must attract new talent through more apprenticeships and welcoming under-represented groups. Read more: MJ Gleeson defies Brexit blues with surging profits But it [...]
With time running out for Theresa May’s deal, are we heading for a Brexit delay? February 24, 2019 MPs will once again march through the voting lobbies in parliament on Wednesday to give their views on Brexit. The motion put forward by Theresa May will only be an endorsement for her to carry on negotiating with Brussels in a bid to get legally binding changes to the Irish backstop plan. However, there is [...]
Flexible office rents tumble as London boom fuels more spaces February 24, 2019 Fresh evidence of a boom in the capital’s flexible workspace market has come to light with a report out today that shows a sharp rise in new spaces coming to the market. Growing demand for shorter leases led to more than 150 new flexible office space business centres opening in Central London during 2018, marking [...]
MPs in uproar as Theresa May delays Brexit meaningful vote February 24, 2019 Number 10 has confirmed reports that the Prime Minister will delay this week's meaningful vote on her Brexit deal. Theresa May told journalists on board a flight to Sharm El Sheikh that the meaningful vote on her Brexit deal will now be held by 13 March – just two weeks until the UK's scheduled exit date [...]