FTSE 100 climbs as ‘relief rally’ pushes global equities higher September 28, 2020 The FTSE 100 has started the week off strong, climbing as much as 1.69 per cent amid a global “relief rally” as investors rushed to buy up shares in beaten-down sectors after last week’s sharp stock market sell-off. Blue chips HSBC and spirits-maker Diageo helped boost the British blue-chip index on Monday, which was also [...]
Brexit: EU renews legal threat against UK over controversial bill September 28, 2020 The EU has doubled down on its threat to take legal action against the UK unless it withdraws its controversial internal market bill that could breach the Brexit withdrawal agreement. European Commission Vice President Maroš Šefčovič said the EU would “not be shy” in using legal methods to stop the UK implementing the legislation after [...]
Liz Truss sets mid-2021 deadline for UK-US trade deal September 28, 2020 The UK is aiming to get a US trade deal completed by midway next year, according to international trade secretary Liz Truss. Truss revealed the deadline on trade talks during a virtual Spectator event today, saying any potential deal will need to be agreed before the US Congress’ power to approve trade deals expires mid-2021. [...]
Britain and EU reach temporary agreement on derivatives clearing September 28, 2020 Britain and the EU have reached a temporary accord on the information-sharing arrangements needed for eurozone banks to continue to use London’s clearing houses until June 2022. Britain’s unfettered access to the bloc’s markets ends on 31 December. Brussels had already agreed to grant UK clearing houses temporary access for 18 months, but an updated [...]
For the next six months, should you spend the time on survival, or plan how to thrive? September 28, 2020 “Cap’n, she can’nae take much more of this.” Who would have thought that the much loved Scotty would capture the scene not of star trekking but the more earthly matter of the mood of business here on terra firma. Make no mistake, the UK economic dashboard is blinking red, and the worry has to be [...]
UK and EU to enter crunch final weeks in Brexit negotiations September 27, 2020 The UK and EU are moving toward the final stages of Brexit trade talks, with the chances of a deal reportedly improving. The ninth round of formal negotiations will begin on Tuesday, with both sides having made late concessions, according to the Sunday Times. Senior sources told the Times that Michael Gove has been pressuring [...]
Right-wingers Dacre and Moore in line for top media posts under Johnson September 27, 2020 Two prominent right-wing media critics of the BBC are reportedly in line for jobs as the next president of the public service broadcaster and the head of TV regulator Ofcom. Former Telegraph editor, and official Margaret Thatcher biographer, Lord Charles Moore is in line to be the next BBC president, while former Daily Mail editor [...]
Car production plunges as surge in cases slams breaks on sector recovery September 25, 2020 Car production plunged again in August, falling 44.6 per cent year on year as factory output stalled amid ongoing disruption caused by the coronavirus crisis. Just 51,039 models were built last month, down from 85,000 in July, according to figures from the Society of Motor Manufacturers and Traders (SMMT). Weaker demand for British-built cars in [...]
How mid-market businesses can keep on top of their evolving VAT obligations September 24, 2020 In this article, I ask my VAT colleague, Mitchell Piper, for his views on how businesses can keep up to date with VAT changes. Value Added Tax (VAT), like all taxes, evolves over time to adapt to changes in society, technology and business practices. Good examples of this are the recent VAT rate reductions in [...]
UK watchdog tells banks to improve remote working safeguards September 24, 2020 Banks and investment firms need more “creative solutions” to avoid misconduct as staff are set to work from home for longer due to the pandemic, Britain’s Financial Conduct Authority (FCA) said today. Britain told people to work from home if possible from Thursday as new cases of Covid-19 grow again, with Prime Minister Boris Johnson [...]