Despite apocalyptic Brexit warnings, the good news keeps on coming January 22, 2019 As the twists and turns of this long drawn-out Brexit drama continue, possibly the most surprising aspect of all is just how resilient the good news about UK business continues to be. I know this is tempting fate, I know many experts keep saying that the economic cycle suggests we should have had a recession [...]
Contract enforceability the ‘elephant in the room’ in Brexit discussions says MP January 22, 2019 Uncertainty around the enforceability of contracts is the “elephant in the room” in Brexit discussions, the chair of the justice select committee said today. Speaking to City A.M., Conservative MP Bob Neill cited insurance contracts and derivatives as examples of areas where there was still a great deal of uncertainty about post-Brexit contract enforceability. EU-based firms [...]
‘No deal’ Brexit would lead to hard border with Ireland, confirms EU January 22, 2019 A no deal Brexit would lead to a hard border between the UK and Ireland, the European Commission has confirmed in a departure from previous claims the crossing would remain invisible. Margaritis Schinas, spokesperson for the Commission, issued the warning in a press conference in which he also quoted the Spice Girls as he urged [...]
Davos: Brazil’s Bolsonaro promises prudence while US secretary of state Pompeo hails populist wave January 22, 2019 Brazil’s newly elected right-wing populist President Jair Bolsonaro today tried to reassure an audience at the Davos world economic forum that his new regime would be business-friendly and fiscally disciplined. Bolsonaro said he would move to open up Brazil’s economy, reduce and simplify taxes, fight corruption and privatise state companies. “We will reduce the tax [...]
Dyson to move its company headquarters to Singapore as Asian success rises January 22, 2019 British billionaire James Dyson will be moving the corporate office and tax registration of his vacuum business to Singapore. The firm said the decision was motivated by a desire to be closer to the eponymous brand's fastest-growing markets, and was unrelated to the UK's upcoming exit from the EU or any tax implications. James Dyson has been [...]
Davos: Citigroup CEO admits London focus will wane after Brexit January 22, 2019 Citigroup has warned that it will do less work in London after Brexit. Speaking at Davos today, chief executive Michael Corbat warned that the firm will move jobs to the EU in preparations for Brexit, adding that “the outcome is that we will be doing less there [London]”. Read more: Citigroup appoints new investment bank [...]
Gatwick drone chaos costs Easyjet £15m but shares rise as profits stay the course January 22, 2019 Drone disruption at Gatwick cost Easyjet £15m, the airline revealed today, as it said that 82,000 passengers were affected by the incident, but shares rose as profits stayed the course. Easyjet was forced to spend £10m in customer welfare costs and lost £5m in revenue, it confirmed in a trading update this morning, as it [...]
Davos: Investec banking chief warns stopping Brexit would ‘corrupt democracy’ January 22, 2019 Stopping Brexit would “corrupt democracy”, the chief of banking giant Investec has warned. Hendrik du Toit, joint chief executive of the UK-listed bank, insisted Britain must leave the EU regardless of what people in the financial sector think about the decision. Read more: At Davos, Huawei calls for speedy resolution to case of detained CFO [...]
Three-quarters of trade could collapse in no-deal Brexit, report warns January 22, 2019 Around three quarters of trade between Dover and Calais could grind to a halt if the UK leaves the EU without a deal, a leaked report has warned. A UK Border Force report leaked to Sky News estimates that between 75 per cent and 87 per cent of cross-Channel freight trade could collapse for up to [...]
Theresa May feels the heat as MPs table plans to alter Brexit process January 22, 2019 Former attorney general and Tory rebel Dominic Grieve has tabled his motion to allow MPs time to debate various Brexit options in the run-up to the UK's exit from the EU. Grieve was originally planning to table a motion that would have allowed 300 MPs from the five parties to be debated and voted on by [...]