Sterling falls after EU pounds May’s Chequers deal September 21, 2018 Sterling took a further beating this morning after Theresa May's botched attempts to woo European officials ended in disaster. Following an abrupt rejection of the Prime Minister’s Chequers agreement at Salzburg yesterday, the pound fell 0.6 per cent lower against the dollar and the euro, hitting $1.318 and €1.12 respectively. Read more: May's Brexit plan 'will [...]
Don’t be afraid to finance your firm’s growth through equity or debt, there are options out there for British businesses September 21, 2018 Having successfully run and invested in many businesses myself, an aversion to seeking finance to fund business growth is difficult for me to understand. But according to research highlighted in the British Business Bank’s Small Business Finance Markets report earlier this year, 70 per cent of small and medium sized companies in the UK [...]
Chris Grayling urges the EU to soften its stance on the Irish border to reach a deal with the UK September 21, 2018 Transport secretary Chris Grayling has said there will be no deal with the EU unless it softens its stance on the Irish border. Grayling – who is feeling the pressure after refusing to take responsibility for the rail timetable chaos – came to the Prime Minister's defence after she met with EU leaders in Salzburg where [...]
One referendum fractured the UK – a second could shatter it September 21, 2018 Who wants a second Brexit referendum? Everyone, it would seem these days. The Czech and Maltese Prime Ministers called for one yesterday at the EU summit in Salzburg. According to Brussels gossip, the UK negotiators have been hampered by whispers that it is possible to get fickle Britain to change its mind. And, indeed, Vince Cable [...]
Price wars versus trade wars: Markets work just fine when we leave them alone September 21, 2018 David Lewis is ramping up a food fight of epic proportions. The chief executive of Tesco has launched a spin-off chain of discount supermarkets called Jack’s (named after Tesco’s founder Jack Cohen). The aim is to become more competitive with German chains Aldi and Lidl, which have been saturating the market with cheaper products since [...]
Four-fifths of manufacturers not ready for no-deal Brexit as economists warn of £40bn hit September 21, 2018 The vast majority of British manufacturers are unprepared for a no-deal Brexit, a poll will show today, as economists predict a major £40bn hit to the UK economy in the event of a disorderly exit from the EU. More than four in every five manufacturing firms say they are not prepared, the survey by the [...]
City jobs bump bucks trend as salaries entice workers September 21, 2018 City hiring picked up in August, bucking the downward trend of the past year amid uncertainty over the status of financial services post-Brexit, data to be published today will show. The number of jobs available in the Square Mile rose by 10 per cent during the month, according to recruitment firm Morgan McKinley – although [...]
Insurance giant makes a £4.3bn bet on the future of Brexit Britain, Uni-leaving doesn’t make sense, and Macron’s not one to mince words September 21, 2018 The news that US insurance giant Marsh and McLennan has swooped on British rival Jardine Lloyd Thompson in a shock £4.3bn move sparked a lot of City chatter about the future of the sector. Will other US firms look to snap up UK rivals as they eye expansion? As one Lloyd’s veteran put it [...]
Lloyds Banking Group reportedly plans to set up insurance subsidiary in Luxembourg September 20, 2018 Lloyds Banking Group will reportedly set up a subsidiary in Luxembourg to allow it to serve life insurance customers in the EU after Brexit. The firm has had initial discussions with regulators in Luxembourg on securing a licence for a subsidiary, Reuters reported. The Scottish Widows brand, which Lloyds TSB bought exactly 17 years before [...]
Theresa May’s Brexit plan ‘will not work’ says EU in devastating blow to PM September 20, 2018 Theresa May was dealt a humiliating blow on Thursday as EU leaders dismissed her flagship Chequers proposal and sent her back to the drawing board. In a dramatic day in Salzburg, European Commission President Donald Tusk plunged the knife into the UK's Brexit offer, saying bluntly: "It will not work". The EU leaders gathered in Austria [...]