A truly Global Britain must slash bureaucracy to draw in international investment June 30, 2021 Not that long ago there was an assumption that globalisation was inevitable – writers from Fukayama to Friedman were anticipating the victory of liberal capitalism and a “flat world” in which capital, people and trade flowed freely, driven by the power of big business to knock down national barriers to their pan-national corporate interests. That [...]
Brexit minister hits back at Elton John: ‘He had his first hits before the UK became EU member’ June 29, 2021 Elton John became successful before the UK joined the bloc, Brexit minister Lord Frost said today, as he hit back at criticism from the singer over post-Brexit visa rules for musicians in the EU. Sir Elton has previously warned of a “looming catastrophe” facing the UK music industry because of new travel restrictions on touring [...]
‘Sausage war’ truce imminent as grace period extension to be announced ‘soon’ June 29, 2021 A truce in the so-called “sausage war” between the UK and EU is imminent, with a three-month extension to the current grace period expected to be announced soon. The two sides have clashed in recent weeks over the EU’s upcoming ban of chilled meats, like sausages and minced beef, crossing from Great Britain to Northern [...]
Auto industry calls for battery gigafactory push ahead of Nissan announcement June 29, 2021 The UK auto industry has today called for the government to invest in a string of battery gigafactories or risk tens of thousands of job losses. The calls come amid reports that car giant Nissan will this week lay out plans to build such a plant in Sunderland, in what would be a huge vote [...]
Finance chiefs: Pandemic twinned with Brexit could slow recovery up to four years June 29, 2021 It will take more than one year for businesses to recover from the effects of the global pandemic, according to a new survey of UK finance leaders, shared with City A.M. today. The figures show that UK businesses will take an average of 13 months to recover, with 43 per cent of UK finance leaders [...]
Property investor Kennedy-Wilson buys £177.5m London office building June 29, 2021 American company Kennedy-Wilson Holdings has bought an office building in London for £177.5m, betting on a rebound in workspace demand after the pandemic and Brexit hit property valuations in the city. The U.S.-based real estate investment firm’s purchase of One Embassy Gardens, a 156,000-square-foot building in Nine Elms district, follows its recent sale of a central [...]
Gresham House completes acquisition of €350m Irish asset manager June 29, 2021 Gresham House has fully acquired Irish fund manager Appian Asset Management in a deal that gives the firm a European presence. The asset manager today announced the completed acquisition of Appian, which manages €350m in assets, following regulatory approval from the Central Bank of Ireland. Gresham House said the acquisition accelerates the firm’s five-year growth [...]
Naysayers of Britain’s future trade relationship in Asia-Pacific are determined to live in the past June 29, 2021 Hot on the heels of the UK-Australia free trade agreement, the UK has launched negotiations to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Critics, quick to deride the move by pointing out it won’t make up the shortfall from Brexit, completely miss the point. The UK must look forward to the future, [...]
FSB calls for govt to bridge 18-day gap between Covid support and full reopening June 28, 2021 The Federation of Small Businesses (FSB) has made a last urgent appeal to the government to help small firms by bridging the gap between the end of Covid financial support this Thursday and the July 19 full reopening. Full furlough, business rates exemptions and deferred VAT payments will all end on Thursday July 1, eighteen [...]
UK banks’ profits slashed by more than half June 28, 2021 Big UK banks’ profits have slid by more than half over the last year, according to a ranking of the world’s largest lenders published today. UK lenders included in The Banker’s top 1,000 World Banks 2021 experienced a 53 per cent drop in profits. Losses were attributed to the severe damage the pandemic has inflicted [...]