Michael Gove says UK is ‘well prepared’ for no-deal Brexit October 18, 2020 Michael Gove has said the ball is in the EU’s court as to whether trade talks continue and that the UK is “well prepared” for a no-deal Brexit in January. Gove, who has been until now a leading voice in the cabinet against no-deal, said today that it was the EU that “effectively ended” trade [...]
FTSE 100 slashes executive pensions following shareholder pressure October 17, 2020 Almost all of the companies in the FTSE 100 have pledged to slash executive pension packages in line with their wider workforce, following mounting criticism from shareholders. Research published today by the Investment Association (IA) showed that 98 per cent of FTSE 100 companies analysed have now either aligned the pension payouts of directors with [...]
FTSE 100 and US stocks climb as investor fears ease October 16, 2020 The FTSE 100 rebounded as investors returned to risk assets, having dumped them yesterday amid worries over new coronavirus restrictions, while US stocks rose on vaccine hopes and upbeat retail sales data. London’s main stock index climbed 1.7 per cent in afternoon trading to stand at 5,929 points. That followed a 1.7 per cent tumble [...]
Pound swings wildly after Boris Johnson steps up no-deal rhetoric October 16, 2020 The pound swung wildly and gave up its gains after Prime Minister Boris Johnson said the UK should prepare for a no-deal Brexit, amid mixed signals from the negotiating process. Sterling was trading as much as 0.3 per cent higher when Johnson started speaking. It then dropped, rose slightly, and fell again to last stand [...]
Wetherspoons boss Tim Martin slams lockdown measures as ‘total chaos’ after pub chain sinks to loss October 16, 2020 JD Wetherspoon shares sank more than 13 per cent this morning as the pub chain swung to a loss for the first time since 1984 during the pandemic. Chairman Tim Martin slammed recent lockdown measures as “total chaos”, after months of closures during the coronavirus crisis hammered the pub group’s sales and revenue. The results [...]
London fintechs secure billions from US investors despite virus and Brexit uncertainty October 16, 2020 London fintechs have secured $3.6bn in venture capital investment this year with more than half coming from US investors. Fintechs received $2.2bn, more than 60 per cent of overall investment, through funding rounds with at least one US investor, according to data from Dealroom and London & Partners. It is nearly double the US funding [...]
Introducing MiCA: Europe’s proposed cryptoasset laws, explained October 16, 2020 As the European Commission launched its long-awaited Digital Finance Strategy in late September, a senior official announced: “The future of finance is digital”. The Commission sees digital finance as a weapon in its arsenal as it seeks to relaunch and modernise the European economy to recover from the Covid-19 pandemic, and the Strategy sets out [...]
Donald Trump needs to get back to basics on the campaign trail October 15, 2020 Tuesday’s Opinium poll showing Donald Trump trailing Joe Biden by a staggering 17 points will likely be the death knell for the President’s campaign. Even at the nadir of Trump’s 2016 campaign, when a leaked tape showed him bragging about him sexually assaulting women, the President’s poll deficit never dipped below 15 per cent in [...]
Covid: EU chief Ursula von der Leyen forced to self-isolate October 15, 2020 European Commission President Ursula von der Leyen has been forced to leave a crunch EU leaders’ meeting to self-isolate, after a member of her front office tested positive for Covid. Von der Leyen said she had tested negative today, however would still self-isolate as a precautionary measure. It comes as the European Council began the [...]
Brexit: Macron and Merkel clash over hopes for UK trade deal October 15, 2020 Hopes for a trade deal with the EU remained ambiguous at today’s EU summit, with French President Emmanuel Macron and German Chancellor Angela Merkel disagreeing over whether the UK will secure a deal before the Brexit deadline. Macron told a meeting of EU leaders in Brussels today: “I hope to finalise a Brexit deal in [...]