James Dyson: No-deal Brexit ‘will not change anything’ October 16, 2018 British inventor James Dyson has said that a no-deal Brexit “will not change anything”, lashing out at car industry giants who have recently raised concerns over job losses if a deal with the EU is not reached. The vacuum magnate and Brexit advocate told Parisian financial newspaper Les Echos: “Taxes or delays at the customs, [...]
Why a Canada-style Brexit deal is unlikely October 16, 2018 Brexit is now less than six months away. Yet somehow, a deal feels further away than it did just a few weeks ago. The stakes are fairly high. Models estimate that GDP will shrink by much as eight per cent. Some of the damage has already been done via the corrosive effects of uncertainty and anticipation of a [...]
Theresa May tells Cabinet to ‘stand together’ over her Brexit plan October 16, 2018 Theresa May told her Cabinet to “stand together” in order to get a Brexit deal with the EU today during an extended meeting of her top team. Ministers debated the PM’s negotiating stance for two and a half hours on Tuesday morning, just a day before May will once again try to sell her plans [...]
FTSE housebuilder Bellway cements position with rising profits but caution lingers October 16, 2018 Housebuilder Bellway sent mixed messages to the City this morning, as a rise in profit coincided with a cautious warning over Brexit. Pre-tax profits climbed 14 per cent to £641m over the last 12 months, as robust annual sales pushed the firm above the 10,000 homes mark for the first time. Revenues also jumped 15.6 [...]
Theresa May’s new merger powers would be a hostile takeover by the state October 16, 2018 Back in July 2016, Theresa May launched her campaign for leadership of the Conservative party by promising radical action on foreign takeovers of British businesses. In the wake of Kraft’s takeover of Cadbury and Pfizer’s failed bid for AstraZeneca, May promised to defend workers and local communities from transient shareholders who, she said, were more [...]
Ignore the chancellor, we don’t need Chequers to end austerity October 16, 2018 I generally presume cynicism in politicians’ arguments. But Philip Hammond implying a Chequers-style relationship with the EU is needed to “end austerity” was shocking in its brazenness. Ahead of the October Budget, the chancellor has echoed Theresa May in suggesting that looser government spending is just around the corner. Their calculation seems to be that [...]
Brexit: 23 answers to investors’ questions October 16, 2018 | City Talk The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]
Europe’s banks are right – the EU must act to avoid a Brexit cliff edge disaster October 16, 2018 Retail king Lord Wolfson raised eyebrows at the weekend when he insisted that a no deal outcome to Brexit talks “would not be a disaster”. The Next boss was referring to the overall effect on trade and, politically, he articulated his point well – you have to be prepared for no deal in order to [...]
Over a third of internal auditors say their firm has done no Brexit preparation October 16, 2018 With just months to go into Britain’s exit from the European Union, more than one in three chief internal auditors say their firm has yet to do any Brexit scenario planning. A ‘Brexit preparedness survey’ conducted by the Chartered Institute of Internal Auditors (Chartered IIA) found that of 95 UK chief internal auditors questioned, 37 [...]
Coinbase plans for Brexit with Irish expansion October 16, 2018 Cryptocurrency exchange Coinbase will today unveil the first stage of its Brexit contingency plans, opening up a secondary office in Dublin while preserving the heart of its operations in London. The new office, which will primarily house mostly support staff, is intended to act as the company’s European base as the UK prepares to exit [...]