The Bunglers of Calais: Shapps says “agreement” struck on Channel chaos December 22, 2020 Transport Secretary Grant Shapps has said an “agreement” has been reached with the French Government on travel across the Channel. Some 3,000 lorries are backed up at Dover, with many in a holding area at Manston Airport. Any agreement is likely to require testing for Covid-19 on one or both sides of the border. The [...]
Brexit: Barnier says progress made but fisheries still holding up deal December 22, 2020 Michel Barnier has told EU Ambassadors that progress has been made towards a Brexit deal, according to multiple reports. However, fisheries remains the key stumbling block and as a result there is now doubt that a deal will be ready in time for the December 31 deadline. Barnier is reported to have said that his [...]
City analysts wait for a Brexit deal too important not to be done December 22, 2020 City analysts continue to believe that a Brexit trade deal will be done, even as talks remain unfinished just 8 days before the UK’s departure from the EU. Fears of a so-called ‘no deal’ Brexit have hung over markets for more than four years, but many respected watchers simply believe a deal is too important [...]
Making it in the City as a woman in 2020: a rising private equity star explains December 22, 2020 City A.M.‘s Michiel Willems sat down with Sunaina Sinha Haldea, founder and CEO of Cebile Capital, a London-based placement agent and secondaries advisor in private equity and infrastructure. The Harvard graduate is also an angel investor and serves as chair of the board of Barrecore, one of Europe’s largest luxury fitness boutiques, while she is [...]
Control or catastrophe? Farage, fortune, freedom and a £199 subscription December 22, 2020 For the small price of £199 a year, promises Nigel Farage, you can “take back control” of your finances. Gold, real estate trusts, even a crypto revolution – all are tickets to an independent financial future, all stamped with the Brexit Party founder’s seal of approval. Or, at least, that’s the idea. But the jury [...]
Risk on or risk off? December 22, 2020 The next stage As expected, risk off tone dominated the price action as market participants reacted to the news of an aggressive spread of a new strain of coronavirus out of the UK, as well as further tensions between the EU and the UK ahead of the Brexit deadline. As a result, GBP was hit [...]
FTSE 100 bounces back as investors absorb impact of mutant strain December 22, 2020 The FTSE 100 inched into the green on Tuesday even as the prospect of another national lockdown loomed amid concerns of a new strain of coronavirus. London’s blue-chip index opened 0.43 per cent lower to 6,388 points before bouncing back to trade up 0.35 per cent by 9.30am. The more domestically focused FTSE 250 is [...]
Central London’s luxury property dips on Brexit uncertainty December 22, 2020 The allure of luxury property in central London has waned this year amid Brexit uncertainty and weaker demand. With Brexit reaching an impasse ahead of the end of the transition period, the annual price change in prime central and prime outer London properties grew to its widest this month. Average prices in prime central London [...]
Border closures force Toyota to shut three plants early for Christmas December 22, 2020 Toyota plans to shut production at three plants in Britain and France early for Christmas, due to likely part shortages as a result of border closures. Toyota’s plant in Deeside, Wales, will close from today, and its vehicle plant in Burnaston will close from tomorrow. In France, its site at Onnaing will shut its doors [...]
Andrew Bailey faces another tough year at Bank of England in 2021 December 22, 2020 Mark Carney must be thanking the gods he stepped down as Bank of England governor in early March. Since then, his successor Andrew Bailey has had to steer the historic institution through the worst economic downturn in 300 years, complete with a bout of market panic in the spring. Under Bailey’s leadership the Bank slashed [...]