Paris Air Show cancelled in blow to aviation industry December 7, 2020 Next year’s Paris Air Show has been cancelled in a blow for the embattled aerospace industry, it was announced today. It is the first time that the prestigious event, which alternates with the Farnborough Air Show, has been cancelled since the Second World War. The event, which tends to attract over 300,000 visitors, was due [...]
No-deal Brexit could force the army to airlift Covid-19 vaccine to UK December 7, 2020 A government minister has suggested that in the event of a no-deal Brexit, the Armed Forces may be required to airlift the Covid-19 vaccine from Belgium. Tory minister James Cleverly confirmed that the government is looking at the possibility of using ”non-commercial flights” to make sure the Pfizer vaccine can still be delivered to the [...]
FTSE 100 outperforms Europe as Brexit hits sterling December 7, 2020 Brexit uncertainty paradoxically helped the FTSE 100 outperform European markets, as a tumbling pound boosted the index. The FTSE was 0.4 per cent higher shortly after midday, trading at around 6,577 points. Sterling was down 1.2 per cent to $1.328, having touched a two-year high on Friday, as investors worried about the lack of progress [...]
Brexit: Michel Barnier tells MEPs that Wednesday is final deadline for deal December 7, 2020 Brussels’ chief negotiator Michel Barnier has reportedly told MEPs that Wednesday is the final deadline to salvage to a UK-EU trade deal and escape a no-deal Brexit. Barnier spoke to MEPs and to EU ambassadors this morning, after in-person negotiations with his UK counterpart Lord David Frost in Brusels yesterday. Talks continue in Brussels today. [...]
Pound slides as investors fret over Brexit talks December 7, 2020 The pound fell sharply as investors began to question whether a Brexit deal would be reached, with traders unwinding bets made last week amid fresh uncertainty over negotiations. Sterling tumbled 1.3 per cent against the dollar to $1.326, having hit a two year high of $1.354 on Friday. The pound also slid against the euro, [...]
Minister does not rule out Covid vaccine passports December 7, 2020 A government minister has refused to rule out a Covid vaccine passport to allow people access to places such as pubs and restaurants once the jab has become available. Junior foreign office minister James Cleverly told Sky News: “Having confidence is important and that’s what the [vaccine] rollout plan is all about.” The NHS has [...]
Posters and adverts aren’t enough to prepare business for Brexit, says BCC December 7, 2020 Businesses still don’t have enough information available on Brexit in critical areas with just 24 days to go until the end of the transition period, an industry body has warned. The British Chamber of Commerce (BCC) has warned that the government’s Brexit guidance remains insufficient in a number of key areas. Its Brexit guidance dashboard [...]
Before the Bell: Fishing for a deal December 7, 2020 While markets in Europe underwent a fairly mixed week, the FTSE100 was notable in undergoing a significantly strong move higher to its best levels since March, driven up by a combination of optimism over the rollout of a vaccine, which begins this week, and the prospect of a possible UK/EU trade deal. US markets also [...]
Brexit: Controversial Internal Market Bill to come before parliament TODAY December 7, 2020 Boris Johnson’s controversial Internal Market Bill, that may breach international law, will come back to MPs today after the House of Lords rejected it. Clauses pertaining to Northern Ireland that will breach the Brexit Withdrawal Agreement, and therefore international law, if there is no post-Brexit UK-EU trade deal were taken out of the bill by [...]
The Week Ahead: Brexit, ECB rates, Rolls Royce, Ocado and Airbnb IPO December 7, 2020 City A.M. takes a look ahead at the main events shaping the markets this coming week, analysing what is to come with City insider Michael Hewson, chief market analyst at CMC Markets UK. Monday: Ted Baker When Ted Baker announced in June it was looking to raise over £100m at a discounted price of 75p [...]