Brexit buffer: Mark Carney pushes to stay in Single Market until at least 2021 November 27, 2016 Mark Carney is working on plans for a Brexit buffer period, to allow the UK to stay in the Single Market for at least two years after leaving the EU. Many in the City have voiced concerns their businesses are facing a cliff edge after the UK leaves the EU, where rights currently enjoyed would be [...]
Frosty relations: Iceland vs Iceland legal action has been filed November 24, 2016 Iceland, the country, has today confirmed it is taking legal action against Iceland, the supermarket. The Icelandic government, along with SA Business Iceland and Promote Iceland, has said it is taking the action so its own producers can use the word 'Iceland' when advertising their own food products. The country argues the retailer cold-heartedly pursued businesses [...]
London Underground Tube drivers announce 24-hour strike starting 6 December – the same day as the next Southern walkout November 24, 2016 London Underground Tube drivers will go on strike for 24 hours in December, the Rail, Maritime and Transport (RMT) union has announced today. The strike, which relates to drivers on the Piccadilly and Hammersmith and City Lines, will start at 21:30 on 6 December – the same day Southern workers are also due to go on [...]
Charles Stanley shares soar as firm almost doubles reported profits and unveils new profit-focused pay scheme November 24, 2016 Charles Stanley today revealed it has nearly doubled its profits during the six months to September and unveiled a long-awaited new pay structure, as shares soared by double digits. The figures The investment manager reported profit before tax of £3.6m, up 80 per cent from £2m for the same period the year before. However, revenue [...]
Autumn Statement TL;DR? Here’s our at-a-glance guide November 23, 2016 Chancellor Philip Hammond spoke for around an hour while delivering today's Autumn Statement. If you don't have time for that, here's our at-a-glance overview of the announcements you need to know: Economics, public spending and politics The Office for Budget Responsibility (OBR) forecast for growth increased to 2.1 per cent, up from two per cent, for 2016, but [...]
Ministry of Justice handed extra funds by Philip Hammond in Autumn Statement November 23, 2016 Philip Hammond has today agreed to give the Ministry of Justice emergency funding to help it tackle growing issues with prison safety. Although the chancellor revealed that spending for most departments would remain unchanged from last year's spending review, he made an exception for the justice department to deal with safety issues he described as "urgent". [...]
More could be done to comfort businesses, Brexit experts tell MPs November 23, 2016 Business could be offered more reassurance on their post-Brexit status than they have been, Brexit experts have told MPs today. Speaking to the Exiting the European Union Committee, a trio of think tank representatives noted that, although political and corporate concerns in the run to the Brexit negotiations were very different, more could be done to put businesses' minds [...]
EU pushes for banking rules to be brought in line with the rest of the world November 23, 2016 The European Commission has today unveiled a slew of potential reforms designed to keep the banking sector propped up in the event of an economic downturn and to bring the EU industry more in line with the rest of the world. Included among the proposals are tweaks to capital requirements to make them more sensitive to [...]
Uncertainty not totally to blame for UK’s economic problems, says MPC member November 23, 2016 Uncertainty might be causing some wobbles for businesses, but it gets more blame than it deserves, a member of the Bank of England's monetary policy committee (MPC) will say this morning. Speaking at a conference hosted by JP Morgan Cazenove, Kristin Forbes, external MPC member, is expected to say that, while mentions of uncertainty in the likes of [...]
Angela Merkel “not happy” about demise of the Trans-Pacific Partnership (TPP) November 23, 2016 German Chancellor Angela Merkel has today said she's "not happy" about the possible scrapping of the Trans-Pacific Partnership (TPP). Her comments come shortly after President-elect Donald Trump announced he would be pulling the US' involvement from the trade deal on his first day in office. "I will tell you honestly: I am not happy that the [...]
