Theresa May does little to reassure her Brexit critics at crunch backbenchers meeting October 24, 2018 Theresa May faced down her fractious party this evening but offered no new reassurances to the many critics of her beleaguered Brexit policy. The Prime Minister spoke to a meeting of backbench Conservative MPs – known as the 1922 committee – for just under an hour in a bid to win support for her negotiating stance with the [...]
Finncap brushes off market negativity to launch surprise takeover of Cavendish October 24, 2018 City broker Finncap, chaired by veteran venture capitalist Jon Moulton, today confirmed it was taking over M&A sell-side advisory firm Cavendish. Finncap plans to raise £6m by floating the combined group on London's junior alternative investment market (Aim) in early December in a listing that will value it at £46m. Lord Leigh, former Conservative Party treasurer [...]
Dominic Raab accused of ‘unacceptable’ behaviour for dodging parliament Brexit committee October 24, 2018 Brexit secretary Dominic Raab has been accused of keeping parliament in the dark by refusing to give evidence to a committee on the UK’s negotiations with Brussels. Raab told the Lords committee on the EU on Tuesday he would not be able to appear before them until after the Brexit deal has been finalised. Lord [...]
No-deal Brexit would hit house prices – but not as hard as the financial crisis, says Moody’s October 24, 2018 UK house prices could tumble in the event of a no-deal Brexit, but would not fall as far they did during the financial crisis a decade ago, rating agency Moody’s said. There would be “outright declines in house prices nationally” if Britain crashes out of the European Union without a deal next March, analysts said. [...]
Blackrock’s European regional headquarters to stay in the UK after Brexit October 24, 2018 Wealth management firm Blackrock is poised to keep its largest European regional operations headquarters in the UK after its exit from the European Union, moving "only very few" jobs to other offices on the continent. The world's largest asset management firm currently manages operations for the Europe, Middle East and African (EMEA) region from its UK [...]
FRC calls on firms to account for Brexit impact in annual reports October 24, 2018 The Financial Reporting Council (FRC) has told listed companies to lay out how leaving the EU could impact their business in their financial reports due shortly after Brexit. In an open letter to the UK’s finance directors and audit committee chairs, the FRC said they must clearly identify specific Brexit challenges such as changes in import [...]
What can we expect from a pre-Brexit Annual Budget? October 24, 2018 | City Talk The Budget is the biggest date in the UK’s financial calendar where the Chancellor, Philip Hammond, will deliver the government’s plans for tax and spending for the 2019/2020 financial year, starting in April next year. The Budget is a little unconventional this year as it usually falls on a Wednesday, but all you trick-or-treaters will [...]
A ray of light in these dark days: Living standards have risen far more than we think October 24, 2018 The media seems full of gloom at the moment. Chaos over Brexit, Saudi Arabia, potential nuclear escalation between the US and Russia – you name it, people are worried about it. A ray of light is shone – an apt phrase as you will see – by the work of Bill Nordhaus, a Yale economist [...]
This Budget, I’m dreaming of a tax system fit for the future October 24, 2018 The announcement that the Autumn Budget would take place in October – almost a month earlier than we’ve become accustomed to – surprised a fair few people. It probably shouldn’t have. Philip Hammond understandably wants his finance bill passed safely through the Commons without it getting caught in the crosshairs of ongoing Brexit negotiations and the [...]
James Dyson’s post-Brexit globalism: design cars in the UK, build them in Asia and sell them all over the world October 23, 2018 Sir James Dyson is one of Britain's most celebrated inventors and entrepreneurs – and rightly so. He has invested billions in UK-based research and development, collaborated with dozens of universities, championed design and engineering, ploughed vast sums into pushing the boundaries of robotics and artificial intelligence, employed thousands of people, backed apprenticeships and training schemes [...]