How Westminster reacted to the High Court’s Article 50 ruling November 3, 2016 A High Court judgement that MPs must vote on Brexit before Article 50 can be triggered has caused quite the stir. Not least among currency traders, with the pound breaking the $1.24 mark for the first time in weeks. Read more: The odds on another EU referendum have halved The government said: "The country voted [...]
“Our political class do not accept the Referendum result”: Nigel Farage’s reaction to the High Court decision on Article 50 November 3, 2016 Former Ukip leader Nigel Farage has said "betrayal may be near at hand" after the High Court ruled MPs must vote before the government can begin the Brexit process. In a statement, Farage said: "I worry that a betrayal may be near at hand. Last night at the Spectator Parliamentary Awards I had a distinct feeling that [...]
Service sector growth beats expectations in the third quarter – but inflation is about to bite November 3, 2016 Another day, another figure showing the economy was in pretty good nick in October, after output in the UK's largest sector beat expectations. Markit/CIPS' purchasing managers' index (PMI) for the services sector rose to 54.5 in October, up from 52.6 in September and way higher than the 52.4 economists expected. Any figure above 50 denotes [...]
Your overdraft could be about to become cuddlier after the FCA outlined new rules November 3, 2016 Your overdraft could be about to become a lot friendlier, after the Financial Conduct Authority (FCA) said it wants to improve competition in the market. This morning the FCA said it wants to improve transparency in the overdraft market by introducing a maximum monthly charge, which it hopes will increase customers' engagement with their "overdraft [...]
Boom: Credit Suisse profits smash expectations November 3, 2016 A crisis in European banking, you say? Credit Suisse profits smashed expectations in the third quarter, results today showed. The figures The lender reported adjusted pre-tax income of SFr327m, up 13 per cent – pretty good going, considering analysts had expected a SFr220m loss. Net new assets in its wealth management arm rose 40 per cent to SFr30.9bn in the first nine months of [...]
City A.M. Unregulated podcast: If I could just tell you one thing – Innocent co-founder Richard Reed November 3, 2016 This week we're joined at the London School of Economics by Richard Reed, the co-founder of Innocent, to talk about his new book, If I Could Just Tell You One Thing, a compendium of advice from 62 of the world's best-known thought leaders. He talks about why he and his co-founders launched Innocent Drinks – and why [...]
Innocent Drinks co-founder Richard Reed: I’ll be the first to say I got it wrong on Brexit November 2, 2016 NULL
The UK construction sector looked stronger in October November 2, 2016 Output in the UK's construction sector rose in October, thanks to another "solid" increase in the residential building sector. The Markit/CIPS purchasing managers' index for the construction sector rose to 52.6, up from 52.3 in September. Any figure above 50 denotes growth. The rise was driven by activity in the housing market, but the figures suggested [...]
Housebuilder Persimmon shrugs off Brexit vote but says it’s staying cautious November 2, 2016 Housebuilders' shares were among the hardest hit after the Brexit vote – but it seems investors may have been over-cautious, after Persimmon reported a 19 per cent jump in sales. The figures In a trading statement this morning Persimmon, the UK's biggest housebuilder, said since it reported its half-year results at the end of August, sales have [...]
