Bank of England steps up Brexit derivatives warnings in plea for EU to take action October 9, 2018 The Bank of England has doubled down on its call to the EU to put measures in place to allow European banks to access UK-based clearing houses after Brexit, avoiding financial market chaos which could damage firms across the continent. City lobby groups echoed the Bank's plea, urging the EU to stop using clearing as a [...]
DUP says ‘no compromise’ on Brexit redlines after meeting with EU’s chief negotiator October 9, 2018 DUP leader Arlene Foster refused to compromise on her Brexit redline today as she shot down the EU's proposal for the Irish backstop. The EU wants Northern Ireland to stay in its customs union and Single Market after Brexit if no other solution can be found to keep the border with Ireland invisible. That suggestion [...]
Commercial real estate might be reliably disinteresting now, but don’t get too cosy October 9, 2018 At a time of political and market turbulence in the UK, there is one area where we’ve seen relative stability. Commercial real estate data in recent months has been fairly constant, with no significant changes to the outlook. The returns for commercial real estate have remained disappointing relative to recent years, yet there has been [...]
IMF downgrades world economic growth forecast October 9, 2018 The International Monetary Fund (IMF) has downgraded the world’s economic growth forecast while warning about risks created by the US and China’s trade war. The IMF cut its global growth prediction by 0.2 per cent to 3.7 per cent for 2018 and 2019. Read more: US and Canada sign eleventh-hour deal to replace Nafta It [...]
At least 40 Tory MPs ‘ready to block’ Theresa May’s Chequers Brexit plan October 9, 2018 Fellow Conservatives are prepared to vote down Theresa May’s Chequers plan if it forms the basis of a deal with the EU, a Tory MP claimed today. At least 40 Tories will rebel against an agreement shaped around the Prime Minister’s Chequers blueprint, if it leaves the UK “half in, half out” of the EU, [...]
Forget Brexit, there’s a reason India’s top tech entrepreneurs are flocking to Britain October 9, 2018 | City Talk Trade between Britain and India looks like it is about to take an almighty hit. Both sides are in a state of stalemate over a trade deal, and huge Indian companies are issuing warnings about investing in the UK post-Brexit. But scratch beneath the surface, and trade between the country of my birth and the country [...]
A transition agreement would be enough to calm business nerves October 9, 2018 Two reports published yesterday paint radically different pictures of the future for post-Brexit Britain. This quarter’s Deloitte CFO survey makes for troubling reading. Concern over Brexit is at a record high, with 79 per cent of CFOs expecting a deterioration in the business environment, and just 12 per cent thinking now is a good time to [...]
Give businesses a tax-break to encourage investment, CBI tells Chancellor ahead of Budget October 9, 2018 Philip Hammond is under growing pressure to hand businesses a tax-break in the upcoming Budget to boost competitiveness. The CBI today echoed calls from the British Chamber of Commerce to increase the amount firms can invest without being taxed. The Annual Investment Allowance currently stands at £200,000 a year, but the CBI is calling for [...]
London VC firm Mosaic Ventures closes $150m second fund for startups October 8, 2018 London-based venture capital (VC) firm Mosaic Ventures has today announced the close of its second fund, Mosaic II, at $150m (£115m) for startups across the capital and beyond. Intending to cut cheques at series A-stage for between $3m and $7m, Mosaic Ventures has previously backed the likes of London automated mortgage broker Habito, crypto wallet Blockchain and period-tracking app [...]
Former top strategic adviser joins firm aiming to ‘open up’ emerging markets to British businesses October 8, 2018 Two former top strategic advisers have joined a newly-launched business intelligence firm, which will help British groups in “opening up” emerging markets to business. CTD Advisors, which launched in London last Monday, will offer advice to firms targeting countries such as India, Pakistan, Saudi Arabia, and Nigeria, using experts from a variety of fields. Read more: [...]