Forget chlorinated chicken – put satellites ‘at the centre’ of a UK-US trade deal, says Raytheon UK space boss December 1, 2020 Defence firm Raytheon has called for the space industry to be at the forefront of any future trade deal between the UK and the US, saying the sector can help the government fulfil its “levelling-up” agenda. Speaking to City A.M., the firm’s UK managing director for space and cyber James Gray said that the sector [...]
Alok Sharma slammed for swerving parliamentary scrutiny on Brexit December 1, 2020 A row has erupted between a Westminster committee and Alok Sharma, after the business secretary refused to attend a hearing on Brexit next week. Labour MP Darren Jones, and chair of the Business, Energy and Industrial Strategy (Beis) Committee, hit out at Sharma saying it “is a very poor show when a secretary of state [...]
London set for major new music venue after £1.3bn Olympia revamp December 1, 2020 London’s music scene will be given a much-needed boost with the launch of a major new music venue as part of a £1.3bn overhaul of the Olympia exhibition centre. The iconic west London site, which first opened its doors in 1886, has played host to some of the biggest names in pop and rock, including [...]
OECD downgrades UK economic outlook ahead of Brexit deadline December 1, 2020 The OECD has downgraded its outlook for the UK economy amid surging coronavirus cases and has warned of a hit from a no-deal Brexit. In its latest economic outlook, the global economic organisation said it expected UK GDP to contract by 11.2 per cent this year compared to the 10.1 per cent forecasted in September. [...]
UK PMIs: Manufacturing beats forecasts to rise for sixth month in a row December 1, 2020 UK manufacturing activity increased for the sixth straight month in November as factories brushed off the impact of the second national lockdown. The IHS Markit/Cips manufacturing purchasing managers (PMI) index stood at 55.6 in November, with any score above the 50 mark indicating growth. The score came in ahead of flash estimates of 55.2, as [...]
UK house prices grew at fastest rate since 2015 in November December 1, 2020 UK house prices grew at an annual rate of 6.5 per cent in November, the fastest rate since January 2015, as the sector batted off the second national lockdown. According to Nationwide’s house price index, prices also increased on a month-on-month basis to be up 0.9 per cent compared to last November. As a result, [...]
Global Britain: should the dramatic shift in ownership of the UK stock market be feared or cheered? November 30, 2020 How global will Britain be in future? This is a question that polarises opinion. But while the UK still needs to define its place in a post-Brexit world, its financial markets have never been more populated with foreigners. According to data from the Office for National Statistics, more than half of the UK stock market is [...]
FTSE 100 remains on track for best month in 30 years November 30, 2020 The FTSE 100 reversed early losses this morning to remain well on track for one of the best months in its history in November. London’s premier index gained 0.4 per cent this morning, meaning it is is set for a monthly gain of over 13 per cent – its best in 31 years. JD Sports [...]
Foreign direct investment in UK to slow as investor priorities shift November 30, 2020 Foreign direct investment (FDI) is set to slow over the next 12 months, as Covid-19 impacts financial services firms’ investment plans in the UK. Last year investor sentiments placed financial services as the driving force of UK growth – the sector attracted 99 projects, equating to more than a quarter of all FDI in Europe, [...]
Before the bell: Equity sentiment slips while all eyes are on OPEC November 30, 2020 Equity markets had a positive run last week on the back of more progress being made with respect to developing a Covid-10 vaccine. In addition to that traders are more optimistic that President Trump will leave office quietly in January. The main story of the week was that the drug being developed by AstraZeneca and [...]