UK-US trade deal set to devalue UK’s financial services sector March 2, 2020 The government has admitted a free trade deal with the US is likely to lead to a drop in the value of the UK’s financial services sector, as other parts of the UK economy begin to expand. Number 10 this morning published its negotiating mandate for talks with Washington. Those discussions, expected to be spearheaded [...]
Brexit and international trade policy leader joins EY’s trade team March 2, 2020 EY has strengthened its International Trade and Brexit team with the key appointment of leading global trade specialist, Sally Jones. Specialising in trade policy, from both a global and Brexit perspective, Sally joins EY as partner and trade policy leader, having previously worked at Big Four competitor, Deloitte. Sally has worked with clients across multiple industries [...]
UK’s consulting market slows its growth in 2019 March 2, 2020 Growth in the UK consulting market almost halved in the three years between the 2016 EU referendum and 2019, a new report has shown. Britain’s consultancy growth slowed from 7.5 per cent in 2016 to four per cent in 2019, according to a study by Source Global Research. Similar growth rates are expected in 2020 [...]
UK mortgage approvals hit highest in four years March 2, 2020 UK banks approved the highest number of mortgages for four years in January, official statistics have shown, in a sign the housing market is recovering after a rocky 2019. Mortgage approvals for house purchase rose to 70,900 in January, up 4.4 per cent from December’s 67,930 figure, the Bank of England said today. The jump [...]
UK PMI: Manufacturing output jumps but coronavirus looms March 2, 2020 Britain’s manufacturing sector grew at its fastest rate in ten months in February, UK PMI survey data has shown, although coronavirus has begun disrupting the industry. The IHS Markit/Cips manufacturing purchasing managers (PMI) index hit 51.7 in February, up from 50 in January, with a score above the 50 mark indicating expansion. The reading was [...]
Deutsche Bank under pressure from UK regulator over compliance failings March 2, 2020 The British financial regulator has criticised Deutsche Bank for failing to improve its compliance and anti-money laundering controls, and warned this could threaten the lender’s access to the UK post-Brexit. Bank of England regulators have told the German lender they now require monthly updates, as opposed to typical quarterly meetings, according to the Financial Times. [...]
Hungary for UK growth March 2, 2020 Last Friday, after four years, I stepped down as the ambassador of Hungary to the Court of St. James’s. I arrived just days before the Brexit referendum — a referendum that, of course, shaped almost everything I did in the role here. It became apparent that the two priorities for me would be the representation [...]
Most businesses would accept tax rise in exchange for simpler rules March 2, 2020 Two thirds of UK businesses would accept a tax rise in exchange for a simpler tax system, a survey from accountancy firm BDO has found. The survey comes ahead of the 11 March Budget, when new chancellor Rishi Sunak is expected to increase spending and cut entrepreneurs’ tax relief, a tax rise equivalent to £2.7bn [...]
Government launches campaign to promote UK ad industry after Brexit March 2, 2020 The government has teamed up with industry bodies to launch a new campaign aimed at promoting the UK’s advertising industry after Brexit. The UK Advertising Export Group (UKAEG) will look to boost the profile of the British ad sector and generate more deals in key territories such as China, Japan, South Korea, North America and [...]
No sign of post-election bounce as private sector activity continues to flatline March 1, 2020 Activity in the private sector fell again in the quarter to February, new figures have shown. Research by the CBI published today demonstrated the 16th consecutive quarter of falling business volumes in the UK. However, it pointed to variation across different sectors and some cause for business optimism. The report, based on a survey of [...]