Brexit: Government minister admits new bill will violate international law September 8, 2020 A top government minister today admitted that plans to amend the Brexit bill will break international law, but insisted it would only do so in a “very specific and limited way”. Concerns have been raised that proposed legislation for Britain’s internal market could undermine parts of the withdrawal agreement, which was negotiated last year. Asked [...]
Tesla shares set for worst day in six months as tech sell-off bites September 8, 2020 Tesla’s share price fell more than 18 per cent as Wall Street opened this afternoon, putting it on track for its worst performance in nearly six months as investors spurned US tech stocks. The electric carmaker was excluded from a group of companies being added to the S&P 500 index — a milestone the company [...]
US tech stocks plunge as FTSE 100 drops on no-deal Brexit fears September 8, 2020 Wall Street opened lower while the FTSE 100 fell back into the red this afternoon as a US tech sell-off and Brexit fears rattled markets. Downward pressure on the pound, as well as a strong set of corporate results, had initially boosted London’s premier index, but by the mid-morning the 0.5 per cent increase had [...]
The creative sector is vital to London – we must save it before it is too late September 8, 2020 Save our arts. That is the rallying call. It is a worthy one. The UK’s creative sector is a dynamic part of the economy, but it has been among the areas hit hardest by the coronavirus crisis and looks likely to recover last. While areas like retail and housing are rebounding solidly, the arts are prevented [...]
Brexit: Top UK civil service lawyer quits over Downing Street row September 8, 2020 The chief of the government’s legal department has resigned over Boris Johnson’s plans to alter some of the terms of the Brexit withdrawal agreement. Jonathan Jones, the Treasury’s solicitor and permanent secretary of the Government Legal Department, reportedly resigned his position after a row with Downing Street over suggestions that Johnson was preparing to breach [...]
Ireland’s Mairead McGuinness picked to be next EU finance boss September 8, 2020 Ireland’s Mairead McGuinness is set to take over as the EU’s financial services commissioner as part of a mini reshuffle prompted by her fellow countryman Phil Hogan’s resignation. Former Latvian Prime Minister Valdis Dombrovskis has been chosen to fill Hogan’s prestigious position as EU trade chief. He was previously in charge of financial services and [...]
Financial services trade talks with Switzerland may be a template for post-Brexit success September 8, 2020 The coronavirus pandemic might have left us with a mountain to climb, but our nation’s economic recovery can be accelerated by one of our greatest trading assets: the UK’s financial services sector. As chair of the All-Party Parliamentary Group for Insurance and Financial Services – and a former insurance broker – I know first-hand how [...]
‘No time for a show of virility’: Sadiq Khan on getting London moving again September 7, 2020 One of the largest criticisms of Sadiq Khan over his first mayoral term has been that he is more concerned about his personal PR and with making political gestures than with his job of running the nation’s capital. The mayor of London has been beset by attacks that he has increased spending on City Hall [...]
FTSE 100 jumps after global sell-off as pound slides September 7, 2020 The FTSE 100 and European stocks rose sharply as investors recovered their poise after a sharp sell-off in global stocks last week, with a falling pound boosting London’s blue-chip index. The FTSE 100 extended its morning rebound and was trading 2.46 per cent higher in afternoon trading. London’s FTSE 250 index of smaller firms also [...]
Aviation support package ‘cannot come soon enough’, MPs warn September 7, 2020 A group of MPs has warned that the government’s aviation recovery plan “cannot come quick enough” as the stricken industry heads into the winter season weighed down with uncertainty over its future. This morning, the government revealed that it would unveil its plan to get the UK aviation industry back onto its feet over the [...]