Five years since Brexit: four charts to show UK shares could be returning to favour July 9, 2021 As Brexit negotiations reached their denouement late last year UK investors sensed the outlook for their home market improving. The Schroders 2020 UK Financial Adviser Survey revealed 40% of respondents were looking to increase allocations to UK shares over the subsequent 12 months, see: Are investors adjusting to the new normal? Six months on, with a “no-deal” outcome [...]
Downing Street clashes with Brussels over €47.5bn Brexit divorce bill July 9, 2021 The UK has hit back at the EU over its hefty Brexit divorce bill, saying it did not recognise the figure and insisting the final payment would remain within the government’s own projections. The bloc last night said Britain was liable to pay €47.5bn (£41bn) to the EU as part of a post-Brexit financial settlement. [...]
Post-Brexit rebound: UK exports to EU climb rapidly July 9, 2021 UK exports to the EU have climbed sharply, defying fears that Brexit would dampen trade between the two blocs, figures published today reveal. Exports of UK goods to the EU jumped eight per cent in May, an increase of £1bn over the last month, according to the ONS. Total exports of UK goods to all [...]
Buy now pay later schemes need light-touch regulation to protect consumers and nurture economic growth July 9, 2021 The rise of buy now, pay later schemes has been remarkable in the UK. New financing products have flooded the market and revolutionised the online retail and consumer credit market. The use of delayed payments has nearly quadrupled in 2020, with 5 million people using them since the start of the pandemic. Klarna, now the [...]
Workforces key to capitalising on the data deluge July 9, 2021 ‘Next slide, please…’: who would have thought, in the pre-pandemic era, that data presentations from health experts would come to take such a significant role in our daily routines? Or that ‘data, not dates’ would become such a well-known slogan? For as long as the pandemic is sadly with us, we can expect data’s unprecedented [...]
Brexit: Financial services will thrive on the world stage with access to rich foreign markets July 9, 2021 Something has changed in financial services. The events of the last week have put this beyond doubt. In the aftermath of the Brexit referendum, we were focused on designing a deep and comprehensive relationship with the EU based on alignment. When that was rejected, we hoped for the significantly less comprehensive equivalence determinations. As the [...]
Not over yet: UK ‘liable to pay EU €47.5bn’ in Brexit divorce bill July 8, 2021 The UK is reportedly liable to pay €47.5bn (£41bn) to the EU as part of a post-Brexit financial settlement. The EU’s consolidated budget report for 2020, seen by RTE News, states that the UK owes the bloc €47.456bn under a series of articles to which both sides agreed as part of the Brexit Withdrawal Agreement. [...]
Exclusive: Rising fintech star and former PayPal tech lead on his new payments venture July 8, 2021 Wise £8bn launch on the London Stock Exchange yesterday underpins how the capital’s fintech scene is booming, with a clear investor appetite for payment platforms such as Wise. Another fintech company in this space that has flourished in the last twelve months is Osu, an instant payments app that was created specifically for the self-employed [...]
Brexit no obstacle for Watches of Switzerland as it eyes expansion into Europe July 8, 2021 Europe is firmly on the radar of luxury retailer Watches of Switzerland. Under a new five-year plan, the group aims to enter the European luxury watch market through acquisitions and new boutiques in a shift away from its previous focus on the UK and US. Britain’s biggest retailer of Rolex, Cartier, Omega, Tag Heuer and [...]
UK labour supply falls at fastest rate on record in June July 8, 2021 The supply of UK workers slid at its fastest rate on record as firms struggle with severe labour shortages, according to a survey released today. The latest KPMG and REC report on jobs shows supply of both permanent and temporary staff in June fell at its quickest pace since the survey started 24 years ago. [...]