DEBATE: Should the government’s Making Tax Digital initiative be delayed? December 13, 2018 Should the government’s Making Tax Digital initiative be delayed? Suren Thiru, head of economics and business finance at the British Chambers of Commerce, says YES. The Making Tax Digital initiative represents a significant overhaul to the UK’s tax system, which could not be happening at a worse time for both business and government. HMRC already [...]
Sterling recovers as Theresa May heads to Brussels after surviving no confidence vote December 13, 2018 Theresa May is set to head to Brussels today in an attempt to renegotiate a Brexit deal that EU leaders have said is final, after surviving yesterday’s vote of confidence. The Prime Minister won the vote with a majority of 83 votes, with 200 Tory Mps voting in support and 117 voting to oust the [...]
Bonmarche shares tank after it slashes profits, blaming Brexit for bleak high street trading December 13, 2018 Retailer Bonmarche lost nearly half its value this morning after investors sold out following a bleak profit warning. Its share price fell 45 per cent this morning after the markets opened. Having closed on 80p last night, shares were trading at 44p this morning. The retailer said its Black Friday sales were “extremely poor” and had [...]
Brexit jitters dampen London property market as activity slumps, says Rics December 13, 2018 Fresh fears for the future of London’s subdued housing market have been brought to light this morning, with a new closely-followed survey suggesting that a growing number of the capital's buyers and sellers are sitting tight as Brexit jitters mount. Painting a downbeat picture for the upcoming months within London’s residential property market, the Royal [...]
Housebuilder shares jump as market backs Prime Minister Theresa May in leadership challenge December 12, 2018 Shares in Brexit sensitive housebuilders have jumped today as the market backs Theresa May's ability to survive an impending no confidence vote. Persimmon, Taylor Wimpey, Berkeley Group and Barratt Development all saw shares increase by between 3.4 per cent to 5.5 per cent hours before Conservative MPs cast their votes on the Prime Minister’s leadership. May [...]
Brexit Live: Theresa May survives vote of no confidence December 12, 2018 Prime Minister Theresa May faces a challenge to her leadership after the threshold for triggering a vote of no confidence was reached this morning. Welcome to today’s City A.M. Brexit live blog. This post is being updated. Please refresh for the latest version. A vote will be held tonight between 6pm and 8pm after Sir Graham [...]
Campaign to oust Theresa May being coordinated from Iain Duncan Smith’s office December 12, 2018 The campaign to oust Theresa May is being coordinated from the office of former leader Iain Duncan Smith, it can be revealed by City A.M. A group of Brexiters determined to end May’s leadership gathered in the plush office in Parliament on Wednesday afternoon to discuss tactics ahead of the no confidence vote set to [...]
How does a no confidence vote work? We explain the process of Theresa May’s leadership challenge December 12, 2018 Theresa May is fighting to hold on to her job as Conservative MPs prepare to cast their ballots in a vote of no confidence this evening. But how will the vote work and what might happen next? Here we aim to answer all your questions. Why is it happening? May has been under pressure since [...]
The next Prime Minister? Six MPs who could succeed Theresa May December 12, 2018 If Theresa May loses a vote of no confidence on Wednesday evening, the starting gun will be fired on who will be the next Prime Minister. With no obvious candidate to succeed her, the race to Downing Street is set to be highly unpredictable. City A.M. looks at six of the most likely candidates: Boris [...]
No confidence: This is how Tory MPs plan to vote in tonight’s crucial contest over Theresa May’s future as Prime Minister December 12, 2018 The number of MPs who have declared themselves either in support of or against the leadership of Prime Minister Theresa May is growing. Here's who has said what so far. A vote of no confidence was triggered this morning, after more than 48 MPs sent in letters to Sir Graham Brady who controls the process. The [...]