Wray of light: serial investor on why small firms are the ‘spice of life’ February 5, 2019 | Sponsored Westminister can be a little sleepy over the weekend – the politicians, civil servants, lobbyists and other politicos drifting off to the shires. But the weekend of 30 March will be different. For starters the Saturday is the day after the UK is scheduled to leave the European Union. It seems unlikely the country will ‘go [...]
City broker Numis warns trading performance hit by Brexit uncertainty February 5, 2019 City broker Numis warned today that Brexit has negatively affected its trading performance in the first four months of the financial year ahead of its annual general meeting (AGM) this afternoon. Shares were down more than six per cent this morning as the firm revealed it had completed 25 per cent fewer deals compared to [...]
DEBATE: Is Brexit likely to be the biggest factor behind Nissan choosing Japan over Sunderland? February 5, 2019 Bridget Phillipson, Labour MP for Houghton and Sunderland South, says YES. Is Brexit likely to be the biggest factor behind Nissan choosing Japan over Sunderland? Nissan’s announcement was deeply disappointing, not just for Sunderland but for the north east as a whole. And it shows the reality of Brexit. Carmakers do not make these decisions [...]
Supermarket sales boost consumer spending but high street woes continue February 5, 2019 Consumer spending returned to growth in January thanks to increased purchases of essentials, but high street retailers continue to feel the strain. Spending rose 2.9 per cent year-on-year last month thanks to a strong performance from supermarkets, which saw their highest rate of growth since April 2017 at 6.8 per cent, according to data from Barclaycard. [...]
Theresa May travels to Northern Ireland to warn of ‘concerning time’ over Brexit February 4, 2019 Theresa May will head to Northern Ireland on Tuesday in a bid to win support for her Brexit renegotiation strategy as the row over the Irish border backstop intensifies. The Prime Minister has vowed to seek “alternative arrangements” to stop a hard border on the island of Ireland if a UK/EU trade deal isn’t ready when [...]
HMRC says EU goods will be waved through UK ports without checks in event of no-deal Brexit February 4, 2019 HM Revenue and Customs (HMRC) has said EU imports will not be subject to extra checks at UK ports in the event of a "no deal" Brexit. In recent months freight companies have warned that leaving the EU without a deal would lead to miles-long queues at major ports such as Dover due to the possibility [...]
Government reveals Brexit assurances to Nissan as car maker moves X-Trail production outside UK February 4, 2019 A potential £80m government support package for Nissan was contingent on the car manufacturer building its X-Trail car at its Sunderland plant, it emerged this afternoon. The government today published the letter from business secretary Greg Clark that convinced Nissan to keep production in the UK in the aftermath of the Brexit vote, revealing that [...]
Angela Merkel urges UK to explain how it will replace the Irish backstop February 4, 2019 Angela Merkel has urged the UK to set out exactly how it wants to avoid a hard border with Ireland in the absence of a trade deal as she called for “creative” conversations to solve the Brexit deadlock. Speaking on Monday morning, the German Chancellor tried to strike an upbeat tone as she insisted a [...]
Confidence in the UK economy among financial services professionals hits record low February 4, 2019 Confidence in the UK’s economic prospects among financial services professionals is at a record low, a new survey showed today. A poll of its members by trade body the Chartered Institute for Securities & Investment (CISI) showed confidence was at its lowest level since it began the survey in 2012. Of the 1,062 respondents, 55 [...]
Ryanair falls to €20m loss as O’Leary signs new five-year contract February 4, 2019 Budget airline Ryanair today said it suffered a €20m (£17.5m) loss in the third quarter of its financial year, blaming weaker ticket prices. The airline also said that longstanding chief executive Michael O’Leary had signed a five-year contract for the role of group chief executive, as the company moves to a new structure. Read more: Ryanair [...]