Landsec profits rise despite retail’s property slump November 13, 2018 Property developer Landsec recorded a rise in profits in its half-year results today, despite a fall in property values caused by the struggling retail sector. The figures Profits before tax rose to £42m, up from £34m last year. Revenue rose 10.3 per cent to £224m compared to the same period of 2017. Dividend per share was [...]
Brexit: Theresa May gathers cabinet ministers to discuss draft agreement November 13, 2018 Theresa May has reportedly scheduled an emergency cabinet meeting for tomorrow morning to discuss a draft Brexit deal. Text governing the UK’s departure from the EU has reportedly been agreed at a technical level between negotiators, after a week in which talks have gone on long into the night. Downing Street summoned Cabinet ministers for [...]
European Commission offers Brits visa-free travel to EU countries in no-deal Brexit November 13, 2018 European Commission officials today proposed visa-free travel for Brits to the EU even in the event of a no-deal Brexit. The proposal, which would need to be reciprocated by the UK, will calm fears that travel to the EU would be far harder – and potentially costly – after Brexit. Under the Commission's plans, visa requirements [...]
Whatever Brexit deal Theresa May can do is the answer to reduce the pain of divorce November 13, 2018 As the Brexit deadline approaches and negotiations continue amid ever-more intense scrutiny, the actual detail of Theresa May’s talks with the EU becomes less and less important. Leaving the EU has been compared to a divorce. While I am fortunate enough never to have gone through one myself, I have witnessed plenty and it is [...]
Taylor Wimpey confident it can beat market uncertainty as low interest rates boost house buyers November 13, 2018 Housebuilder Taylor Wimpey today said it is on track to weather political uncertainty to deliver on guidance thanks to low interest rates and the government's Help to Buy scheme. Sales rates for the year to date were 0.81 per outlet per week in the second half of 2018, unchanged from last year, though cancellation rates were up [...]
Business has spoken: The UK cannot afford a no-deal Brexit November 13, 2018 We thoughts that we were heading towards the final furlong – at long last, a Brexit deal – after an interminable period which has seen runners and riders fall and many a twist and turn along the way since the public voted to leave the EU in June 2016. Then the minister Jo Johnson resigned, [...]
The US midterms: Good for Democrats, but better for markets November 13, 2018 American politics is in a febrile state. Deep partisan divisions, heightened by Donald Trump’s controversial rhetoric and policies, have resulted in a historic year for midterm voter turn-out. Last Tuesday, voters on the left and right were spurred on by a conviction that the 2018 midterms were more important than any other in history. Politically, [...]
Brexit deal still possible within 48 hours, says Cabinet Office minister David Lidington November 13, 2018 A Brexit deal may still be achieved within the next 48 hours, according to a government minister. Cabinet Office minister David Lidington told Radio 4’s Today programme that “we are almost within touching distance now” this morning. Lidington said he was “cautiously optimistic” about the prospects of negotiators striking a deal in the next two [...]
UK debt to soar to financial crisis levels over next five years November 13, 2018 UK debt could rise to £6.7 trillion by 2023, from £5.1 trillion in 2017, according to new research. The UK’s debt as a percentage of gross domestic product (GDP) is predicted to rise to nearly 260 per cent of GDP, a level not seen since the financial crisis. The debt increase is expected to largely [...]
Theresa May says Brexit deal is near as talks enter endgame November 12, 2018 Theresa May has declared that the Brexit talks are entering the endgame, though she warned that the UK would not accept an agreement “at any cost.” Speaking to a senior City audience at the Lord Mayor’s banquet, the Prime Minister described the negotiations as “immensely difficult” but insisted she would not shy away from tough [...]