Brexit vote live: MPs reject no-deal and vote for changes on the Irish backstop January 29, 2019 Hello and welcome to our Brexit vote live blog. Please manually refresh this page for the latest updates The Prime Minister brings her plan B to parliament today, but the real meat on the table today are various Brexit amendments tabled by MPs. These vary wildly – with one expected to call for an alternative [...]
Theresa May calls for Brexit negotiations to reopen after MPs back new plan January 29, 2019 Theresa May will launch an audacious bid to reopen Brexit negotiations with the EU after MPs voted in favour of reforming the contentious Irish border backstop arrangements. After a night of high drama, during which MPs voted against a plan that could have delayed Brexit, the Prime Minister said she had a fresh mandate to [...]
Ireland would take four per cent economic hit in no-deal Brexit, says Irish finance minister January 29, 2019 Ireland’s economy will take a four per cent hit in a no-deal Brexit, the country’s finance minister has warned. Pascal Donohoe today told his government colleagues a “disorderly” Brexit would particularly impact on agri-food and manufacturing sectors in Ireland – leading to slower economic growth over the next five years. The Irish government were told [...]
US-China trade war greater threat to M&A deals than Brexit, survey finds January 29, 2019 The trade war between the US and China is a greater risk to merger and acquisition (M&A) activity this year than Brexit, according to research published today. A total of 50 per cent of senior global M&A professionals viewed the trade tensions, rising tariffs and potential subsequent erosion of global GDP as the biggest emerging business [...]
Philips announces €1.5bn share buyback after sales boost January 29, 2019 Technology company Philips today said it boosted like-for-like sales five per cent last year to €18.1bn (£15.7bn). The Amsterdam-headquartered technology company said it also grew sales five per cent in the fourth quarter to €5.6bn. The company said its adjusted earnings before interest, tax and amortisation (Ebita) improved 100 basis points to 13.1 per cent [...]
Profit slips at housebuilder Crest Nicholson with London market blamed for ‘challenging year’ January 29, 2019 Profit before tax fell 15 per cent at housebuilder Crest Nicholson last year with its chief executive blaming Brexit and slower demand in London. In the year to 31 October pre-tax profit was £176.4m, compared to £207m the year previously, while operating profit margin fell from 20.3 per cent to 16.7 per cent. Chief executive [...]
We’re all bored of Brexit, just as things start to get interesting January 29, 2019 This week will be crucial for Brexit as Theresa May sets out how she intends to take the departure process forward after her initial withdrawal agreement was defeated. But as Westminster gets to grips with the Brexit process, and the media pores over the ramifications of parliamentary votes on proposed amendments to the deal, most [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
With just a dash of flexibility, the Brexit endgame is in sight January 29, 2019 In 1982, three years into Margaret Thatcher’s first term, a monograph was published about the government’s economic progress bluntly titled: “Could do better”. Was it published by the Fabian Society, with its close affiliation to the Labour party? Or perhaps it was released by the recently established Social Democratic Party, formed by people on the [...]
The Eurozone is at risk of renewed crisis in 2019 – and this time it’s all about Italy January 29, 2019 After a dismal 2018, December brought further bad news for the Eurozone in the form of the European Commission’s economic sentiment indicator. Despite hopes that last year would see an escape from the ongoing repercussions of the 2011-2013 euro crisis, confidence across sectors has taken a hit, with only retail trade remaining a bright spot. [...]