To restore public trust, it’s time for finance to find its purpose November 21, 2018 More than 10 years on from the collapse of Lehman Brothers, the finance industry still has much work to do to rebuild society’s trust. Given the centrality of financial services to the UK’s economy – whether through the tax revenues it pays, the two million jobs it supports, or the basic functions of our economy [...]
Max fac is back to help solve Irish backstop worries, Downing Street reveals November 20, 2018 Theresa May is reviving plans to use technology to prevent a hard border with Ireland in a bid to win support for her under-fire Brexit deal. The so-called maximum facilitation proposal – dubbed ‘max fac’ – was one of the customs arrangements considered by the Government last year before being dismissed. It has support among [...]
Jacob Rees-Mogg admits no confidence letters are drying up in plot to oust Theresa May November 20, 2018 Jacob Rees-Mogg has admitted the ousting of Theresa May may have to wait until next month after the Brexiter plot ran out of steam this week. The high-profile Brexiter, chairman of the European Research Group of Tory MPs, used an impromptu press conference last Thursday to announce he would be putting in a letter of [...]
Spain threatens to reject draft Brexit deal unless Gibraltar is excluded from EU talks November 20, 2018 Spanish Prime Minister Pedro Sanchez has said his country will reject the draft Brexit deal unless it makes clear that talks regarding the status of Gibraltar will be considered separately. Spain holds a claim to Gibraltar, which came under Britain's control following the 1713 Treaty of Utrecht. The BBC reported that Spain has said it [...]
Mark Carney says a no-deal Brexit would be the ‘worst outcome’ for the Bank of England November 20, 2018 Mark Carney today told the Treasury Select Committee that a "no-deal" Brexit would be the "worst outcome" for the Bank of England. The BoE governor said he expected May's draft withdrawal agreement to "support economic outcomes" and welcomed the transition period, which is due to end in 2020. The transition period begins on 29 March 2019 and lasts [...]
John Lewis, Sainsbury’s, or M&S? Whose Christmas ad was best this year November 20, 2018 So this is Christmas. And what have you done? Another year over, and the festive ads just begun. Yes, ’tis the season for brands to splash the cash on fancy holiday-themed adverts in hope of attracting that sweet Christmas shopping revenue. Retailer John Lewis has been the reigning champion of the season for the past [...]
Supreme Court rejects UK government appeal against Brexit reversal case November 20, 2018 The UK’s Supreme Court today rejected the government’s bid to prevent the possibility of its Brexit decision being reversed. The failure of the government’s appeal means the European Court of Justice (ECJ) will go ahead and hear the case of whether Article 50 can be reversed on 27 November. The court will hear the case [...]
Easyjet flies in the face of Brexit worries as profits and bookings soar November 20, 2018 Low-cost airline Easyjet remains positive about its 2019 outlook as rising profits and revenues for the year to the end of September defied Brexit concerns and rising costs. The figures Pre-tax profit rose 41.4 per cent to £578m and revenues were up 16.8 per cent to £5.9bn. The airline raised its dividend to 58.6p subject to [...]
British home electricals retailer AO shares slide as it gears up for Brexit November 20, 2018 UK online electronics retailer AO World has scraped back some of its losses in the first six months of this year, targeting European profitability despite market challenges. The company's share price tumbled almost 15 per cent in early trading this morning. The figures Overall revenue across the UK and Europe rose almost 10 per cent [...]
Labour’s childish antics over Brexit are an embarrassment November 20, 2018 The Brexit deal is on the table and the bids to support it, scrap it, or make it utterly redundant are now in full swing. As Theresa May moves forward with her plan to engineer a parliamentary majority for a proposed exit deal, clear political camps have begun to form. The Tory moderates who have [...]