Business confidence surged on vaccines before new lockdowns December 21, 2020 The start of the UK’s coronavirus vaccination programme drove up business confidence to a nine-month high in December, a survey has shown. However, the Lloyds business barometer gave a picture of businesses’ attitudes before the government tightened the lockdown rules over Christmas, bringing new uncertainty to firms. Prime Minister Boris Johnson on Saturday announced London [...]
Pound traders brace for tense week as Brexit talks continue December 20, 2020 Sterling traders are gearing themselves up for another nervy week amid fears that a collapse in Brexit talks could spark a sharp sell-off in the pound. Negotiations are ongoing, but noises from both camps suggest they remain stuck on fishing rights and competition policy. British health secretary Matt Hancock this morning told Sky News that [...]
How activist investors will circle in on UK corporates in 2021 December 20, 2020 As companies plan for their post-pandemic future there are signs that they will have to contend with a new threat: activist investors. Activists have so far been biding their time. The usually vocal Edward Bramson paused his campaign against Barclays boss Jes Staley at the start of the year. Bramson has repeatedly called for the [...]
Brexit talks continue as UK demands EU withdraw “unreasonable demands” December 20, 2020 Sticking points including fisheries and the level-playing field continue to plague Brexit talks as they enter the final stages. The European Parliament has set an effective deadline of midnight today if it is to be ratified in time for the UK’s departure on December 31. Health Secretary Matt Hancock told Sky News this morning: “We [...]
UK still not ready for Brexit, MPs warn December 19, 2020 With just seven working days until the Brexit transition period comes to an end, “significant concerns” remain, MPs have said. A cross-party parliamentary report has warned of a potentially challenging start to 2021, as businesses, traders and the general public adjust to a life outside of the European Union. The report warned the government must [...]
It wasn’t all bad: 2020 hindsight reveals some good things, too December 19, 2020 Once upon a time, it was popular in the corporate world to have a “2020 Vision”. It was a snappy title for glossy brochures laying out long-term strategies. It suggested clarity, foresight and forward thinking. Sodexo, Siemens, the NHS, the Grand Union Housing Group and the University of Chester all published their own “2020 Vision”. [...]
Johnson urges EU to ‘see sense’ as Brexit trade talks enter 48-hour crunch time December 19, 2020 Trade talks between the UK and EU will continue this weekend, marking another critical 48 hours for the negotiations as the end of the transition period looms closer. The two sides remain stuck on issues that have plagued them for months, including fisheries, so-called level playing field arrangements and state aid. Yesterday the EU’s chief [...]
FTSE 100 and US stocks slip as market optimism dips December 18, 2020 The FTSE 100 fell along with European and US stocks as optimism faded on trading floors, with doubts creeping in about a US stimulus bill and fresh tensions with China. London’s main stock index was down 0.2 per cent in the afternoon session to 6,539 points. The FTSE 250, which is more domestically focused, fell [...]
Clifford Chance launches Brexit ‘hotline’ for confused clients December 18, 2020 Clifford Chance has launched a Brexit ‘hotline’ to help clients with last minute Brexit preparations in the face of continued uncertainty. The hotline will operate from today until 4 January, and will help to answer client’s Brexit questions on the likes of contracts, supply chains, treasury, passporting, HR and international property. With less than two [...]
Surge in bumper deals helps UK M&A regain its mojo December 18, 2020 After a slow start to the year UK M&A has bounced back after a surge in mega deals saw activity soar 80 per cent. M&A with UK involvement has totalled £429.8bn so far this year, 80 per cent more than the value recorded in 2019 according to research by data provider Refinitiv. A staggering 21 [...]