How will the EU act after Brexit? February 21, 2019 | City Talk Britain's planned departure from the EU exposes many issues. A key one is the economic path the UK will choose. Less commonly asked is what will the rest of the EU do. Perhaps this should figure more in the debate. Last year, President Macron suggested the EU move towards a core, built on closer political [...]
Rathbone Brothers boosts profits but warns of Brexit impact on funds February 21, 2019 Wealth manager Rathbone Brothers said today it had boosted its-full year profit but warned Brexit could affect the value of its funds. Underlying operating income in investment management grew to £275.3m for the year to 31 December, up from £254.6m the previous year. That figure includes £8.7m in relation to Scottish wealth manager Speirs and [...]
Tories and Labour brace for more defections to Independent Group as Brexit patience wears thin February 21, 2019 The newly formed Independent Group could soon be welcoming more disaffected Labour and Tory MPs as a number of senior figures took to the airwaves to warn of more resignations. Former Tory MP Heidi Allen, who resigned from the party yesterday along with Remain-supporting colleagues Anna Soubry and Sarah Wollaston, told ITV last night that [...]
Serco seeks to capitalise on Brexit contract chaos as financial turnaround continues February 21, 2019 Outsourcing giant Serco said it could benefit from Brexit in the coming months if the government “needs help quickly,” raising its sales forecast for the coming year. "If we’re going to take back control, we’re going to need people to do the taking-back and the controlling,” chief executive Rupert Soames told City A.M.. “The government [...]
DEBATE: Should we slash post-Brexit tariffs on food imports to offer consumers cheaper goods? February 21, 2019 Should we slash post-Brexit tariffs on food imports to offer consumers cheaper goods? Bill Wirtz, policy analyst at the Consumer Choice Center, says YES. Contrary what the protectionists will tell you, tariffs don’t only hurt the country upon which they are imposed. If the government decides to maintain import tariffs on food post-Brexit, it is [...]
A Brexit-induced price drop won’t fix the housing crisis February 21, 2019 The last 30 years have seen house prices in London soar to dizzying heights. The average home has leapt from £81,536 in 1988 to £473,882 in 2018 – that’s a 481 per cent increase. If the cost of a pint of milk (26p in 1988) had jumped up at the same pace, it would now [...]
Barclays profits slip as bank sets aside £150m for Brexit February 21, 2019 Profits missed estimates at Barclays last year, the bank revealed today, as it set aside £150m for Brexit and paid out billions of pounds in misconduct and litigation charges related to its role in the financial crisis. Read more: Ex-Barclays chair Agius tells court he was unaware of £280m Qatar deal The figures Profit before [...]
Fintech startup Revolut pushes ministers for fast-track tech visas February 21, 2019 London will fall behind as a world-leading fintech hub if the government does not prioritise incoming tech talent, the chief executive of Revolut warned today. Nikolay Storonsky, a Russian native who started digital bank Revolut in 2015, called on ministers to introduce a fast-tracked visa process for technology workers, particularly within software development and data [...]
Theresa May fails to win concessions on withdrawal agreement during meeting with Jean-Claude Juncker February 20, 2019 Theresa May and EU Commission President Jean-Claude Juncker last night discussed possible "guarantees" and "legal assurances" that could be established in relation to the controversial Irish border backstop protocol that has dogged the PM's efforts to pass her Withdrawal Agreement. However, May failed to win concessions on her bid to reopen the Withdrawal Agreement in [...]
Anna Soubry urges Tories to put their country first and thwart a no-deal Brexit February 20, 2019 The Conservative party is being infiltrated by former Ukip members bent on ousting sitting MPs they view as traitors over Brexit, ex-Tory MP Anna Soubry warned today. Read more: Conservative split: Three Tory MPs quit party In a devastating attack on her former party, the Broxtowe MP said the Conservatives were now being controlled by [...]