Dunelm grows profits but remains ‘cautious’ as Brexit-related risks approach February 13, 2019 Profit and revenue climbed at Dunelm in the first six months of its financial year, the home furnishing retailer revealed today, but also warned its outlook is “cautious” in the face of Brexit uncertainty. The figures Profit before tax grew 14 per cent year on year to £70m while like-for-like revenue rose 6.9 per cent to [...]
May to give MPs vote on Labour workers’ rights plans after Brexit February 12, 2019 Theresa May today pledged to give MPs the power to decide whether the UK should follow EU rules on workers’ rights after Brexit in a bid to win Labour support for her plan. Speaking in the Commons, the Prime Minister doubled down on her commitment to keep high standards relating to employment law, environmental protections and [...]
Chris Grayling accused of ‘misleading’ parliament over money spent on ferry contracts February 12, 2019 Embattled transport secretary Chris Grayling faced another round of calls to resign yesterday over accusations he may have misled parliament in saying no taxpayer money was spent on the government's Brexit ferry contracts. Shadow transport secretary Andy McDonald today issued a point of order in the House of Commons over Grayling's statement that "we are [...]
EU could collapse like the Soviet Union, warns financier George Soros February 12, 2019 The EU will “go the way of the Soviet Union” unless pro-Europeans rise up and defend the project, billionaire financier George Soros has warned. Reflecting on the implications of Brexit and other anti-EU movements rising on the continent, Soros claimed Europe is “sleepwalking into oblivion". Soros has poured at least £500,000 into anti-Brexit group Best [...]
May sets deadline for EU negotiations over Brexit backstop changes February 12, 2019 Theresa May today told MPs that they would get another vote on the next steps in the Brexit process later this month if she fails to secure changes from the EU. Parliament will get to vote on the path forward on 27 February – a month before the UK’s scheduled departure from the bloc – if [...]
London house prices: Prime postcodes dip as Brexit uncertainty weighs on market February 12, 2019 House prices in London’s most expensive neighbourhoods tumbled in the run-up to Christmas, continuing on a downward trend in the wake of uncertainty from both buyers and sellers. According to new data from Lon Res, prime property prices in the fourth quarter of 2018 fell 5.7 per cent when compared with the same period in [...]
Theresa May to tell MPs to hold their nerve over Brexit February 12, 2019 Prime Minister Theresa May is expected to tell MPs today to hold their nerve in the UK’s game of brinksmanship with the EU over Brexit. May is due to make a statement to MPs at 12.30pm ahead of a debate on Thursday on the next steps for Brexit. “We now all need to hold our nerve,” [...]
Should investors be worried about a EU turn in the Eurozone’s economic prospects? February 12, 2019 As the Eurozone’s largest economy, Germany usually acts as a bellwether for the rest of the bloc. So the European Commission’s decision to downgrade the country’s growth forecasts last Thursday is a worrying sign for the other euro nations. Expectations for GDP growth in Germany were cut to 1.1 per cent for 2019, down from the [...]
Against the tide of shareholder activism February 12, 2019 You cannot blame boardrooms today for being preoccupied, with everything from Brexit contingency planning to the prospect of a Corbyn government. Yet there is another, more pressing need for every UK listed business to be preparing for: activist investors. Shareholder activism, whereby an investor leverages their stake to put pressure on the management of a [...]
Philip Hammond’s ‘Brexit deal dividend’ claim under attack from MPs February 12, 2019 Philip Hammond’s promise of a Brexit dividend has been called into question amid signs of sluggish economic growth and warnings of a knock-on effect for the public finances. Figures released on Monday showed the UK economy grew by just 1.4 per cent in 2018 – its slowest rate for six years – while growth in the [...]