EU Parliament’s Brexit negotiator Guy Verhofstadt says transitional deal must not be “eternal” December 13, 2016 A time limit is “necessary” on any transitional deal for UK businesses while the Brexit process is completed, according to the European Parliament’s chief negotiator. Guy Verhofstadt said: “I have seen many times in politics that a so-called transitional agreement becomes an eternal or definitive agreement, so that has to be avoided.” Speaking to the BBC, [...]
Government letter to Nissan reveals no extra spending says top civil servant December 13, 2016 Nissan will not receive any more public money to keep production of its new Qashqai and X-trail models in Sunderland after Brexit, according to a top civil servant. Amyas Morse, the head of the National Audit Office, said he had seen a government letter to Nissan, and that it contained no promises which would result [...]
Daily flights from London Gatwick to Hong Kong announced by Cathay Pacific December 13, 2016 London Gatwick airport has received a boost with the news that there will now be daily flights to and from Hong Kong, as the route launched in September records “strengthening demand”. Cathay Pacific will expand its timetable of flights at Gatwick from four times a week to a daily timetable, with six direct flights between [...]
UK business students have sixth highest salary expectations in Europe, behind Switzerland in first place December 13, 2016 British business students have the sixth highest salary expectations in Europe, and the 10th highest in the world, according to new research. Students in the UK were looking forward to an average salary of around £29,300 in their first job after graduating university, according to data from branding research company Universum – £3,000 more than [...]
Chancellor Philip Hammond calls for a four-year “soft Brexit” as the UK leaves the EU December 12, 2016 Chancellor Philip Hammond has backed a transitional period to ease Britain’s exit from the European Union, bringing relief in the Square Mile but exposing a potential split with senior Cabinet colleagues. Hammond said yesterday that “thoughtful politicians” could see the need for a “longer period to manage the adjustment” of leaving the EU. The comments [...]
Goldman Sachs banker Gary Cohn becomes Donald Trump’s main economic adviser December 12, 2016 Donald Trump has announced the appointment of former Goldman Sachs banker Gary Cohn as his most important economic adviser. Cohn has officially been named as director of the National Economic Council. He will be tasked with advising the President-elect on implementing his unorthodox economic campaign promises, which purportedly combine broad tax cuts with big infrastructure [...]
Post Office workers to strike in week before Christmas, although Royal Mail deliveries said to be unaffected December 12, 2016 Workers at the Post Office have announced that they will strike during the run-up to Christmas. The Communication Workers Union (CWU) says that strike action will commence on Monday 19 December and run through to Christmas Eve in 300 branches around the country. They have so far notified the Post Office, which is run separately [...]
UK economy gets end of year boost as City jobs market flourishes December 12, 2016 The economy will end the year on a high note with an upswing in the City’s job market, improved growth forecasts and a brighter outlook for business output. A survey from professional services recruiter Morgan McKinley out today shows the City’s job market picking up pace again following the Brexit vote. There was a six [...]
Aim liquidity rises by nine per cent over last year to shrug off Brexit uncertainty December 12, 2016 The average value of shares trading daily on London’s Aim market has risen over the last year, despite uncertainty following the UK’s decision to leave the EU. Liquidity on the UK’s junior market increased by nine per cent year on year, according to data from accountants UHY Hacker Young. The average daily value of shares [...]
Business as usual gives a post-referendum boost to GDP forecasts but inflation is going to dent growth, says British Chambers of Commerce December 12, 2016 A “business as usual” approach from UK businesses has kept the economy steady since the EU referendum, according to the British Chambers of Commerce (BCC), as they revised up growth for 2016 and 2017. The business lobby group’s forecast of this year’s annual GDP growth rate has been upgraded to 2.1 per cent, as firms [...]
