Tumbling pound puts London firms at risk of foreign takeover frenzy September 29, 2022 A sharp fall in the value of the pound could put London-listed firms at further risk of foreign takeovers after a spate of acquisitions this year, experts have warned today.
Port of Dover chief warns post-Brexit checks will be detrimental to UK trade and travel September 29, 2022 The Port of Dover’s chief executive has warned that post-Brexit biometric controls will be detrimental to the UK’s trade and travel, as they will significantly increase border delays. “If we are forced to commit to an inadequate process it will have a rapid and significant detriment on trade,” chief executive Doug Bannister said. Dover is [...]
Kwarteng tells bank execs he is ‘working closely’ with BoE to calm markets September 28, 2022 Kwasi Kwarteng has told a group of investment bank executives that he is “working closely” with the Bank of England to calm markets. The chancellor and City minister Andrew Griffith said during a roundtable that the government has a “clear commitment to fiscal discipline” and outlined coming post-Brexit changes to financial services regulations, according to [...]
Post-Brexit Eurostar capacity down 30 per cent due to more border checks September 28, 2022 Eurostar’s peak capacity at London St Pancras station is down 30 per cent as a result of post-Brexit checks. Chief executive Jacques Damas said that additional checks caused a “significant increase in processing times,” therefore reducing the number of people processed at peak times. Damas will step down after two years at the company’s helm [...]
Kwarteng tells City bosses that ‘we are committed to fiscal discipline’ September 27, 2022 Kwasi Kwarteng has told a group of City bosses today that the government is committed to “fiscal discipline” as the chancellor tries to calm markets and reassure the Square Mile. Kwarteng told them that “we are confident in our long-term strategy to drive economic growth through tax cuts and supply side reform”, and that he [...]
Hedge funds reap rewards after bets against bonds September 27, 2022 A crop of hedge funds have been reaping bumper profits from a plummeting pound this week after wagering against government bonds and sterling ahead of Kwasi Kwarteng’s tax cutting ‘mini-budget’ on Friday.
Kwarteng to announce supply side reforms in ‘medium-term fiscal plan’ next month September 26, 2022 Kwasi Kwarteng will announce a package of supply side reforms next month in a “medium-term fiscal plan”, the Treasury has announced. The Treasury said it would include “changes to the planning system, business regulations, childcare, immigration, agricultural productivity, and digital infrastructure”, as well as post-Brexit changes financial services regulation. It will also include details on [...]
RPS backs £636m takeover swoop from Tetra Tech September 26, 2022 Professional services group RPS said it had agreed to a £636m takeover swoop from US firm Tetra Tech today as it becomes the latest London-listed firm to be picked off by a foreign buyer this year.
Post-Brexit foreign direct investment in the north skyrockets 72 per cent September 26, 2022 Post-Brexit foreign direct investment in the ‘northern powerhouse’ has skyrocketed by 72 per cent compared to the rest of the UK, a new report has shown. Investment in the north rose from £24bn between 2012-16 to £41bn after Britain left the European Union, from 2017-21. The findings, by the Northern Powerhouse Partnership, also found the [...]
Luxury retailers to push for tax cut acceleration ahead of coronation September 25, 2022 Luxury retailers in the West End are eager to elevate the shopping destination among its global rivals by appealing for tax changes to be accelerated. After the Chancellor suggested VAT-free shopping could boost the retail heartland from 2024 last week, the Association of International Retail said could be introduced in the next six months. The [...]