City counts the cost of Brexit but eyes turn to new global opportunities February 16, 2021 As temperatures hit record lows in February, parts of London’s financial markets are feeling the cold as consequences of Brexit bed in. The much reported toppling of London as the continent’s top share-trading hub in January is a symbolic moment more than a significant economic shift, but it plays into a wider discussion about the [...]
Some City investors are starting to get nervous about inflation February 16, 2021 The UK will release new inflation data later this week, but if recent investor comments and analyst notes are anything to go by, it is becoming increasingly clear that some within the investment community are starting to get nervous about inflation. According to last month’s figures by the Office for National Statistics (ONS), the UK’s annual [...]
IFS urges Rishi Sunak not to raise taxes in March Budget February 16, 2021 Rishi Sunak’s March Budget should announce “well targeted” extensions to current emergency Covid support measures and avoid any tax rises, according to one of the UK’s largest economics think tanks. The Institute for Fiscal Studies (IFS) will today urge the chancellor in an online event to “secure the UK’s economic recovery” and “set out plans [...]
Eurosceptic politicians form new post-Brexit City lobby group February 16, 2021 A group of Eurosceptic City figures and politicians have created a new UK financial services lobby group in a bid to trumpet the sector’s success post-Brexit. The body, launched yesterday, is called the CityUnited project and it aims to “combat and negate the EU’s actions” by “promoting bold new initiatives to exploit the UK’s expertise in [...]
Government report calls for regulations bonfire to give UK a ‘post-Brexit dividend’ February 16, 2021 The UK should slash regulation and overhaul the competitions authority to give the economy a post-Brexit boost, according to a report commissioned by the government. The report, written by Tory MP John Penrose, calls for the government to create a “Brexit dividend” by “replacing bureaucratic EU rules with modern, digital equivalents”. Penrose’s report, commissioned by [...]
The fight for the future of British fish and seafood February 15, 2021 As the fishy issue of seafood continues to cloud the waters between the EU and post-Brexit Britain, fishermen and suppliers are clamouring to reinvent the industry. Local & Independent has launched a Be Unshellfish campaign highlighting the difficulties faced by fishermen and explaining how both professional chefs and consumers can buy direct from the nets. [...]
Deliveroo targets 8 March for bumper IPO kick-off – report February 15, 2021 Deliveroo could kick off proceedings for its highly anticipated London listing as early as next month, Sky News today reported. The food delivery firm is said to be mulling beginning the float process on 8 March – a little over three weeks time. But insiders told Sky that the date was not yet set in [...]
Five charts that show the impact of Covid-19 on the tourism industry February 15, 2021 The travel and tourism industry has been one of the sectors hit hardest by the pandemic, with lockdowns and travel restrictions all but shutting business at times. Today the Office of National Statistics released its latest analysis of the impact of Covid-19 on the industry, and it doesn’t make for pretty reading. In 2018 the [...]
UK and EU plan post-Brexit Northern Ireland hotline for officials February 15, 2021 The UK and the EU are planning to create an emergency hotline for officials to discuss post-Brexit problems in Northern Ireland. European Commission vice president Maros Sefcovic said the Brexit treaty’s Northern Ireland protocol needed “day-to-day care” and that Brussels and London both wanted to de-escalate tensions. Tensions have escalated in Northern Ireland since the [...]
Deutsche Bank and Morgan Stanley to join the wave of institutions entering the Crypto fray. It begs the question – when $50,000 for Bitcoin? February 15, 2021 Crypto at a Glance It was an eventful weekend in the markets, though one characterised primarily by near misses. Bitcoin came within a nose hair of $50,000, Ethereum still hasn’t quite made it over the $2,000 line, and Cardano is yet to hit that dollar mark. The total market cap of all crypto markets did [...]