Unleash the power of digital across our nation December 9, 2020 Digital capital has transformed every role I’ve held. As a business leader, the emergence of digital markets and communication transformed my industry. As an MP and minister, I wrestled with how access to digital information shaped opportunities. I worked to widen access to digital skills for women (only 19 per cent of workers in tech [...]
Honda warns of production delays at Swindon plant due to transport disruption December 8, 2020 Japanese car giant Honda has warned that it might have to suspend production at its factory in Swindon due to delays in getting hold of parts as a result of transport disruption. The automaker operates a “just in time” system at the plant, where car parts arrive as and when they are needed. This can [...]
Britain ditches controversial Internal Market Bill clause in Brexit divorce deal December 8, 2020 The government will ditch parts of the Withdrawal Agreement that would have seen the UK break international law, after reaching an “agreement in principle” on Brexit divorce issues. Cabinet Office minister Michael Gove said he was “delighted” to have reached a compromise with European Commission vice-president Maros Sefcovicon on post-Brexit arrangements for the Irish border. [...]
UK signs post-Brexit trade deal with Norway and Iceland December 8, 2020 The UK just signed in London a post-Brexit rollover trade deal with Norway and Iceland. The agreement covers trade in goods, and ensures 95 per cent of goods trade with Norway and over 90 per cent with Iceland will remain tariff-free, providing businesses with certainty that they can continue to operate on the same terms [...]
FTSE 100 falls along with pound amid Brexit impasse December 8, 2020 The FTSE 100 fell and the pound slipped again as Brexit talks continued, with Prime Minister Boris Johnson set to fly to Brussels for last-ditch talks. The London stock index was down 0.5 per cent, hitting 6,521 points. The FTSE 250 – made up of smaller firms – was also down 0.5 per cent. Read [...]
47 per cent of UK exports flow to EU while a mere four per cent of bloc’s goods end up in Britain: study December 8, 2020 Brexit will have a far greater impact on UK trade than it will on EU businesses, primarily because the UK relies more heavily on the EU for its imports and exports than vice versa. According to a new study by the ifo Center for International Economics, the UK relied on the EU for 50 per [...]
Market Finance to make £5,000 grants available to UK SMEs December 8, 2020 Market Finance has announced an SME fund that will make grants available to businesses struggling amid the pandemic. The fintech lender has launched the Business Booster Fund which will make grants of £5,000 available to the UK’s small firms in a bid to help them “kickstart” 2021. The initiative is broad brush – any business [...]
Ofgem unveils £40bn spending package but cuts investor returns for next price control period December 8, 2020 The UK’s energy companies will be able to spend a combined £40bn in investment into the country’s energy networks over the next five years, but will see returns limited under stricter new rules from Ofgem. This morning the energy regulator laid out its plans for the next “price control” period, which runs from 2021 to [...]
V-Day: All your vaccine questions answered December 8, 2020 Ninety-year-old Margaret Keenan this morning became the first person in the world to receive a coronavirus vaccine outside of a trial, marking the start of Britain’s largest vaccination programme in history. Jabs of the Pfizer/Biontech vaccine will be administered at dozens of hospital hubs across the country from today, dubbed V-Day by health secretary Matt [...]
Brexit: France reiterates veto threat over fishing rights December 8, 2020 France is still threatening to vote down a Brexit deal it considers to “sacrifice” its fishermen, in what is the latest barrier in trade talks. French European Affairs Minister Clement Beaune today said France would oppose any pact that “sacrifices” its fisherman. “On fisheries there is no reason to yield to Britain’s pressure. We can [...]