Nigel Farage gets approval to launch new political party Reform UK January 6, 2021 Nigel Farage and prominent Brexiteer Richard Tice have been given the green light to start a new political party called Reform UK. The Telegraph reports that the Electoral Commission today approved the pair’s application to change the name of their Brexit Party to the new moniker. Farage is reportedly planning on recruiting 1,000 candidates to [...]
Thames freeport bid could be ‘transformative’ for region, says estuary chief January 6, 2021 The envoy for the Thames Estuary has said a bid to develop one of the UK’s new freeports on the river would be “transformative” for the region. Kate Willard, who is spearheading redevelopment attempts along the Thames, was speaking after Forth Ports and DP World unveiled their plan for a freeport on the estuary at [...]
Brexit: BoE boss hits out at EU stance on equivalence for UK financial services January 6, 2021 Bank of England governor Andrew Bailey has slammed the EU for how it has handled decisions on the UK’s post-Brexit access to EU financial markets. Bailey told a Westminster committee today that Brussels’ demands to the UK Treasury on potential future regulatory decisions were “problematic”, before adding: “I fail to see why people would want [...]
City set for bare bones deal in crunch talks on financial services January 6, 2021 The UK is set for only a bare bones agreement in upcoming Brexit talks on the City of London’s future relationship with the EU, according to industry insiders close to the talks. Treasury minister John Glen is set to lead post-Brexit talks with the EU this week to strike a “memorandum of understanding” that will [...]
UK PMIs: Services activity contracts again in December January 6, 2021 UK business activity contracted again last month despite the lifting of lockdown restrictions, new data revealed today. The IHS Markit/Cips purchasing managers (PMI) index for services scored 49.4 in December, with any score below the 50 mark indicating contraction. The reading was up on November’s score of 47.6, when much of the economy was stuck under further [...]
UK on course for double-dip recession amid lockdown ‘gloom’ January 6, 2021 The UK is on course for a double-dip recession as a fresh lockdown compounds the “strikingly downbeat” end to 2020, according to a new report. After the sharpest decline in history in the second quarter last year, indicators showed economic activity improved only slightly in the last three months of the year and remained well [...]
UK can still be gateway to Europe for car giants after Brexit, says auto boss January 6, 2021 The UK can still be the gateway to Europe for foreign carmakers despite the challenges of leaving the EU, the head of the country’s biggest auto trade body has said. Mike Hawes, the chief executive of the Society of Motor Manufacturers and Traders (SMMT) said that the UK would still be able to compete with [...]
Qualcomm boss Steve Mollenkopf steps down after seven tumultuous years January 5, 2021 Qualcomm chief executive Steve Mollenkopf will step down after seven tumultuous years at the helm of the company. He will be replaced by his deputy Cristiano Amon who was “unanimously selected” by the board following Mollenkopf’s decision to retire. The end of Mollenkopf’s reign will allow Qualcomm to put its period of legal battles behind [...]
More than 80,000 UK-run websites suspended due to Brexit January 5, 2021 Over 80,000 UK-run websites have been plunged into a blackout following a culling of EU domain names after Brexit. EURid, which manages the European Union domain name, has suspended the .eu websites under new rules that came into force on 1 January. The stringent new regime means that all existing UK-registered .eu domains have been [...]
Honda halts Swindon car production for second time in a month due to supply chain disruption January 5, 2021 Honda this afternoon said that it would halt production at its plant in Swindon due to supply chain disruption – the second time it has done so in a month. In a statement, the carmaker said that production would stop today and tomorrow, with a view to starting again on Thursday. It said that the [...]