Greggs flags flat full year profits as it says it’s cautious on consumer outlook July 31, 2018 Greggs has said profits will be flat for 2018 as the baked goods business warned it is cautious about the consumer outlook. But investors were happy with its solid half year update: Greggs' share price was up 5.9 per cent in early trading. The figures Total sales at Greggs rose 5.2 per cent to £476m, [...]
UK government tells Brussels it can control financial services market access after Brexit July 31, 2018 The UK government appears to have backed down over its position regarding the post-Brexit model for the City, just weeks after it dropped its demand for mutual recognition. The UK government's Brexit white paper had laid out its call for an "expanded equivalence" model after leaving the EU, describing it as a “reciprocal recognition of [...]
Number 10 rubbishes reports that army is on Brexit standby July 30, 2018 Number 10 has rubbished reports that the army has been put on standby in case the UK crashes out of the European Union without a deal. The Sunday Times this weekend claimed the military were ready to be deployed in the event of a no deal Brexit, with helicopters and army trucks prepared to transport [...]
Shadow chancellor John McDonnell warns City: ‘People want change… get used to it’ July 30, 2018 It’s fair to say that John McDonnell does not see the world in quite the same light as most City workers. During the first Budget after he became shadow chancellor, McDonnell quoted from Chairman Mao’s Little Red Book, before flinging it at his then-counterpart George Osborne. Years earlier, he was caught on camera saying he [...]
Exclusive: The government is working on a social care insurance scheme following last year’s ‘dementia tax’ row July 25, 2018 The government is working on a new plan to address the escalating cost of social care, as it tries to shrug off the spectre of its proposed “dementia tax” – a policy that provoked a furore during the Conservatives’ disastrous 2017 General Election campaign. City A.M. understands that a set of proposals are being readied [...]
Brexit secretary Dominic Raab admits food will need to be stockpiled – but stresses there will be “adequate” supply July 24, 2018 Brexit secretary Dominic Raab has admitted food will have to be stockpiled in the event of a hard Brexit – but insisted there will be "adequate food supply". During a terse grilling by the Brexit Select Committee, Raab stressed he would not "drip feed out" information, pointing to the "series of technical notices" that are [...]
Prime Minister Theresa May confirms she, not Dominic Raab, is leading Brexit negotiations July 24, 2018 Theresa May has confirmed that Brexit secretary Dominic Raab will not be in charge of the talks in Brussels, issuing a statement saying she is taking the lead from now on. The Prime Minister's written statement, issued just a couple of hours before summer recess began, and under the vague headline of "a machinery of [...]
EU publishes its no Brexit deal guidelines July 19, 2018 The European Commission has published its guidance over what countries, businesses and individuals should do to prepare for a no deal ahead of Brexit day next March. As revealed by City A.M. yesterday, the Commission is calling on all parties to step up preparations on the back of what was agreed at the European Council [...]
Exclusive: EU27 negotiators and MEPs are mulling extension to Article 50 over no deal fears July 18, 2018 An extension to next year's Article 50 deadline is being discussed in the backrooms of Brussels, as MEPs and officials from member states weigh up plans to avoid a cliff-edge Brexit. Fears are growing that talks will not conclude in time for both the UK and EU to meet the 29 March 2019 deadline. Several [...]
European Commission to ramp up warnings over no deal Brexit plans as press conference with Dominic Raab appears to be ruled out July 18, 2018 The European Commission will tomorrow urge member states, businesses and private individuals to step up their preparations for no deal, ahead of the first meeting between Michel Barnier and Dominic Raab. The Brexit secretary will meet his counterpart in Brussels tomorrow afternoon, however it is understood there will be no press conference at the end [...]
