Brexit: how did we get here? January 30, 2020 How did the Brexit timeline lead us here, what impact has it had on the pound and how can the resulting foreign exchange risks be mitigated? The UK began preparations to withdraw from the European Union back in June of 2016. The process has had an undeniable impact on the volatility of the exchange market [...]
Bank of England avoids interest rate cut as Mark Carney bows out January 30, 2020 The Bank of England has held off from an interest rate cut despite a surge in expectations that it would reduce rates for the first time in four years. Today’s decision came even as the Bank slashed its long-term growth forecasts for the UK economy to account for Brexit disruption and Britain’s productivity crisis. Read [...]
Brexit day: what happens on 31 January 2020? January 30, 2020 Brexit day on 31 January marks the end of the UK’s membership of the European Union and the start of the “transition period”. After three previous departure dates came and went (20 March 2019, 12 April 2019 and 31 October 2019), it’s the one we all expect to actually happen. The transition – or “implementation” [...]
Mike Pompeo: US will put UK at ‘front of the line’ in trade talks January 30, 2020 The US secretary of state Mike Pompeo has pledged to put the UK “at the front of the line” in future trade talks, during a talk in London this morning. Speaking at a Policy Exchange event, Pompeo said he wanted to be in the UK on the date that the UK leaves the EU as [...]
Shaun Bailey: What will London look like when we leave the EU? January 30, 2020 We are leaving the EU tomorrow and, despite the mixed feelings surrounding this new chapter, there is much to be cheerful about. Business leaders are already expressing a newly-restored confidence in London. A raft of new information — such as the latest Deloitte CFO optimism survey, key PMI figures, household and consumer confidence data — [...]
City will be caught up in the Brexit fish fight January 30, 2020 Last night, the European Parliament ratified the UK’s withdrawal agreement. After years of torturous wrangling following the Brexit referendum, MEPs delivered the final moment of theatre — complete with a rather touching rendition of Auld Lang Syne. Though the general message was one of friendship and enduring bonds, nobody should be in any doubt that a [...]
The UK must show faith in the OECD, not go it alone with a digital services levy January 30, 2020 Following months of brewing trade tensions between France and the US, centred around President Emmanuel Macron’s plans to regulate big tech, headlines from last week showed a victory for an integrated approach, as France agreed to delay its digital tax. The country will postpone applying a three per cent levy on the likes of Google [...]
Trade tensions the biggest threat to markets in 2020, say traders January 30, 2020 Traders are worried about the impact international trade tensions will have on the markets in 2020, but only see Brexit as a minor concern, a new survey from JP Morgan has found. Despite the “phase one” deal between the US and China lessening tensions, 50 per cent of the 650 online traders surveyed by JP [...]
London business confidence soars to highest in UK following election January 30, 2020 Business confidence in London jumped during January as the decisive General Election result helped boost the morale of firms in the capital, figures released today show. The business confidence of London companies leapt 22 points to 38 per cent in January, reaching the highest level of any region, according to the latest Business Barometer from [...]
UK ad spend grows as brands splash cash on streaming hits January 30, 2020 Fanatical film and TV fans helped drive up UK advertising spend in the third quarter, as the video on-demand and cinema sectors continued their recent run of good form. Brands splashed out £5.97bn over the period, up 5.6 per cent year on year but down marginally on the second quarter. The figures, which mark the [...]