Javid: No self-respecting minister could accept PM’s conditions February 13, 2020 Sajid Javid has said he quit rather than accept conditions that “no self-respecting minister could”, following his surprise resignation as chancellor today. Simmering tensions between Downing Street and Treasury erupted into all-out warfare this morning, after he resigned in protest over plans to merge the two teams’ advisers. Despite run-ins with Boris Johnson’s chief adviser [...]
EDF acquires electric car charging firm Pod Point in £100m deal February 13, 2020 EDF has bought a majority stake in electric vehicle charging point manufacturer Pod Point as part of a deal worth more than £100m, City A.M. understands. The tie-up also forms part of a new joint venture with Legal & General Capital, in which the latter will also take a 23 per cent stake in Pod [...]
Nissan records losses amid backdrop of Carlos Ghosn scandal February 13, 2020 Nissan has posted a net loss of 26.1 billion yen (£183.3m) in the third quarter of 2019. The company has cut its annual operating profit forecast by 43 per cent after global vehicle sales fell 11 per cent from October to December. This comes as it faces a changing car market and fallout from the [...]
Who is Rishi Sunak? What you need to know about the new chancellor February 13, 2020 Rishi Sunak has received a major promotion from the shock resignation of Sajid Javid as chancellor during today’s reshuffle – but who is he? The Richmond (Yorks) MP who until today was chief secretary to the Treasury has been in parliament for just over four years, but he has taken a well-trodden path to get [...]
Brexit: A drawbridge to equivalence February 13, 2020 Diehard Brexit followers will know we are making progress when politicians move from trading soundbites and references to ticking clocks to rejecting each other’s positions on future alignment and regulatory equivalence. This week’s spat — sparked by a sneaky photo revealing the UK wanted “permanent equivalence” and answered by Barnier advising that certain people in [...]
An inclusive market economy is well within reach post-Brexit February 13, 2020 In his Greenwich speech last week, the Prime Minister persuasively set out how the Brexit process must carry with it a Canada-style free trade agreement, resting on the “indispensable principle of comparative advantage.” For Boris Johnson, this means embracing free trade to raise living standards and lift people out of poverty, while casting aside the [...]
Want to encourage downsizing and free up the housing market? Reform stamp duty February 13, 2020 With the first post-Brexit Budget fast approaching, there are huge hopes, expectations, and indeed demands across industries and sectors — but perhaps few areas are more important than solving the housing crisis. As Boris Johnson’s team focuses on delivering their manifesto promises, including building 300,000 homes a year by the mid-2020s, it’s worth remembering that [...]
London house prices buoyed by general election result February 13, 2020 London house prices jumped in January, buoyed by December’s decisive general election result, according to the latest research. A survey of chartered surveyors found that the London house price net balance rose to 28 per cent in January, the highest reading since 2016 and up from minus eight per cent in December. The number of [...]
Johnson pledges to ‘set foundations’ for gender balanced Cabinet in today’s reshuffle February 12, 2020 Boris Johnson will today operate a one-in-one-out policy for his highest ranking women today, as he looks to make good on his promise to prioritise gender diversity and new voices. A number of female Cabinet ministers, including environment secretary Theresa Villiers, business secretary Andrea Leadsom and culture secretary Nicky Morgan are among those expected to [...]
European Parliament sets up more Brexit drama as it backs ‘dynamic alignment’ February 12, 2020 London looks set for another head-on collision with Brussels as the two sides gear up for trade talks, after the European Parliament said any deal must be based on two areas already ruled out by Downing Street. This morning MEPs gave their backing for chief negotiator Michel Barnier to press the case for a post-Brexit [...]