Jacob Rees-Mogg tells businesses to stop living in ‘cloud cuckoo land’ over Brexit September 24, 2018 Leading Brexiteer Jacob Rees-Mogg has called on businesses to stop living in "cloud cuckoo land" and accept Brexit will mean changes to how they operate. The Conservative MP was backed up by former Brexit secretary David Davis, who claimed top firms such as BMW should be able to cope with extra hours delays at [...]
Frankfurt winning race with Paris for Brexit bank moves September 24, 2018 Frankfurt is winning the race to attract the banking jobs moving out of London because of Brexit, with 25 lenders having moved operations there ahead of the UK's departure from the EU, new research published today shows. Paris, which has been aggressively courting the City's financial institutions, has attracted nine moves, while Luxembourg and [...]
British manufacturing output growth weakens as exports hit slowest in almost a year September 24, 2018 Growth in the British manufacturing sector slowed as exports cooled, according to data published today. Expansion in output slowed to the lowest since May in September, the survey of more than 400 major manufacturers by the Confederation of British Industry (CBI) showed. Exports weakened to the slowest expansion since October 2017, with a balance [...]
IEA urges Theresa May to ditch Chequers for its alternative ‘Brexit prize’ September 24, 2018 Free-market thinktank the Institute of Economic Affairs (IEA) has unveiled its alternative Brexit plan in a move that will pile pressure on the Prime Minister following her failure to secure support for her Chequers plan at an EU summit in Salzburg last week. The IEA said the government had approached Brexit in the “wrong way” [...]
Cobra Beer founder Lord Karan Bilimoria talks curry and craft beer culture September 24, 2018 Britain loves beer. This might not be good for our wallets or our waistlines, but it’s true nonetheless. And perhaps no one knows this truth more than Lord Karan Bilimoria, founder and chairman of Cobra Beer. Cobra (slogan: “impossibly smooth”), has become something of a British institution. Not only can you find it in [...]
How to turn the Chequers rat into a lovable Brexit hamster September 24, 2018 It has been said that a rat just is a hamster with a PR problem. Both share many of the same fundamental characteristics – but one people want to look after, and the other they want to kill. Since its uneasy formation, Theresa May has hoped that her Chequers plan could become the Brexit [...]
Revolut to bid for fresh European licence as it reveals losses September 24, 2018 Fintech powerhouse Revolut has revealed its post-Brexit strategy amid the publication of its 2017 financial accounts, which put a heavy spotlight on the banking app’s operational losses. Primarily, a spokesperson for the London startup confirmed to City A.M. it had applied for a second e-money licence in Luxembourg, in addition to its 2017 application for a [...]
UK export growth tumbles to lowest level since Brexit vote September 24, 2018 UK export growth fell for the sixth consecutive quarter to its lowest level since the Brexit vote, it has been revealed today. A study by accountancy and business advice firm BDO found that export growth in the UK had “slowed significantly”, performing the worst out of Europe’s five largest economies – placed behind Germany, France, [...]
Bumper rise in US takeovers of UK businesses as EU interest wanes September 24, 2018 The value of M&A deals in which US companies took over UK business has more than doubled in the past year, as takeovers by EU-based companies slipped. In total, the value of US takeovers in the year to the end of June this year skyrocketed from £36.8bn in 2016/17 to £79bn the past year, analysis [...]
Brexiters set to reveal an alternative to Chequers September 24, 2018 Pro-Brexit MPs will today throw their weight behind a detailed alternative to the Prime Minister’s ill-fated Chequers proposals. Earlier this month City A.M. revealed that former Brexit secretary David Davis was backing an alternative Brexit plan, which has been produced by trade expert Shanker Singham – head of the International Trade and Competition Unit at [...]