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 [...]
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 [...]
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 [...]
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 [...]
David Davis: ‘Antagonistic’ Germans want to punish UK for Brexit September 20, 2018 David Davis today branded Germany an "antagonist" as he accused the European powerhouse of wanting to punish the UK for Brexit. In a speech in Munich, the former Brexit secretary launched a scathing attack on the UK's "continental friends", singling out German politicians for wanting to see Britain fail after it leaves the EU. Read more: [...]
City makeover: Planning chief unveils major revamp bid to build more skyscrapers and lure in nightime West End goers September 20, 2018 Ambitious plans to transform London’s skyline and revamp the Square Mile’s muted nighttime economy were unveiled by the City’s influential planning chief today, in a bid to keep the capital’s financial centre a global leader post-Brexit. In a wide-reaching 20 year local plan revealed today, The City Corporation is hoping to enlarge its cluster of skyscrapers [...]
Don’t let Brexit or political differences create a hostile office environment September 20, 2018 Facebook is “a political monoculture that’s intolerant of different views”, according to a post from Brian Amerige on an internal online group at the social media company called “FBers for Political Diversity”. Amerige claims that although the US company presents itself as welcoming all political perspectives, in reality anyone with a view that opposed left-leaning [...]
Davis set to savage Chequers as May awaits EU verdict on key proposals September 20, 2018 Theresa May last night urged EU leaders to stop trying to break up the UK as she warned there were just two months left to strike a Brexit deal. Speaking directly to her counterparts at a dinner in Salzburg last night, the Prime Minister made it clear that if an agreement were not reached by [...]