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 [...]
Post-Brexit immigration plans will stifle London’s economy, says CBI February 11, 2019 The government’s post-Brexit immigration plans will stifle London’s economy due to restrictions placed on overseas workers earning less than £30,000 a year, an influential business group has said. The new visa system, which would prevent firms employing workers under the income limit for more than a year, would particularly affect the accommodation and hospitality sector [...]
Telford Homes to develop £160m Stratford project February 11, 2019 London developer Telford Homes has ramped up its investment in East London this morning after announcing plans for a £160m housing site in Stratford. The housebuilder, which specialises in non-prime London property, has snapped up the 1.2 acre development for £20m as it looks to tap into recent regeneration following the arrival of Westfield shopping [...]
Britain must ‘enhance lethality’ amid growing cyber threat, says defence secretary February 11, 2019 Defence secretary Gavin Williamson will this morning crank up his military rhetoric, saying Britain cannot be seen as a “paper tiger” and must be ready to take action against countries that “flout international law”. The more aggressive tone, which comes ahead of the UK striking out on its own outside the European Union, will be [...]
Real household disposable income £1500 a year lower than pre-referendum forecast February 11, 2019 UK household incomes are around £1500 lower than they were expected to be before the Brexit referendum, new analysis shows. The UK has seen the sharpest income growth slowdown of any economy covered by the Organisation for Economic Cooperation and Development, while global growth has outperformed pre-Brexit vote expectations, according to data published this morning [...]
Chancellor needs to find extra billions to end austerity February 11, 2019 The chancellor Philip Hammond will have to find billions of pounds to prop up public spending to deliver on promises of ending austerity. According to a report from think tank the Institute of Fiscal Studies (IFS), over the four years from 2019-20 to 2023-24, Hammond would need to find a further £2.2bn to avoid cuts [...]
Record stockpiling not enough to hide manufacturing slump as cliff-edge Brexit fears heighten February 11, 2019 Output in the manufacturing sector has plunged to its lowest point since October 2017 despite firms ramping up preparations for a no-deal Brexit, according to an industry barometer. BDO’s manufacturing index fell 0.23 points from December to a score of 98.37 in January, its lowest level in 15 months. Read more: UK car industry on [...]
Quit nostalgic navel-gazing and get excited for the future February 11, 2019 The thing about the 1970s – if you lived through them – is that they were for the most part dull and dour years, devoid of political and economic energy. And as for the fashion, don’t even go there. Yet there seems to be no shortage of fresh-faced tweets proclaiming those years to be something [...]
Despite Brexit uncertainty, City links across the Irish Sea continue to flourish February 11, 2019 Amid the ongoing debate about the Irish border and the Brexit backstop, it would be easy to lose sight of the City’s flourishing links across the Irish Sea. Both Northern Ireland and the Republic of Ireland share a long history with the Square Mile. These ties have grown in recent years as the City Corporation [...]