Business blocked from immigration discussions after MAC report, Downing Street suggests January 28, 2020 The government has signalled there will be no more formal consultation with business groups on immigration policy as it begins drawing up a new system for the post-Brexit regime. Instead, ministers will rely on a long-awaited report from the independent Migration Advisory Committee (MAC) which will be unveiled in Westminster this morning. It is understood [...]
Regulatory burden dampening appeal of UK IPOs, survey finds January 27, 2020 Increased regulatory burdens and listing requirements are denting private companies’ appetite to list in the UK, a new survey has found, as the London market grapples with weakened demand. Last year marked the London Stock Exchange’s quietest year since 2009, with just 36 companies listing on the exchange, while the number on the alternative AIM [...]
Downing Street unveils Taskforce Europe for EU trade talks January 27, 2020 The Prime Minister’s sherpa David Frost will head up trade talks with the EU following the UK’s exit this Friday, Downing Street has confirmed. Frost, who secured the 11th hour withdrawal agreement with Brussels that paved the way for Commons approval for a final deal, will head up a “small and agile” team of around [...]
Number of UK firms in ‘significant financial distress’ hits record high January 27, 2020 The number of UK businesses in significant financial distress has risen to almost 500,000, hitting the highest level since records began 16 years ago. The latest research showed that the number of firms facing significant difficulties has soared 81 per cent since 2016, reaching 494,000 in the fourth quarter of last year. Recently formed companies [...]
German business morale takes surprise hit in new year January 27, 2020 Morale among German businesses dropped unexpectedly in January, a survey has shown, weighing on hopes that Europe’s biggest economy would have a strong start to the year. The business climate index from the Ifo Institute think tank fell to 95.9 in January from 96.3 in December, falling well short of expectations that it would rise [...]
UK mortgage approvals surge in December January 27, 2020 British banks approved the most mortgages in four years in December, data from banking body UK Finance has shown, in the latest sign of green shoots in the UK economy. Yet mortgage lending in the UK fell in 2019 overall as the Britain’s housing market struggled under the weight of Brexit uncertainty, according to the [...]
UK-listed tech recruiter S Three says profit jumped 20 per cent in 2019 January 27, 2020 London-listed recruiter S Three reported a 20 per cent increase in pre-tax profit today, driven by strong international growth. The recruiter, which focuses on science, technology, engineering and mathematics (Stem) roles, said revenue grew nearly seven per cent to £1.3bn. Reported profit before tax was up 20 per cent in the year to 30 November [...]
Varadkar: The EU has the upper hand in Brexit trade talks January 27, 2020 Ireland’s Prime Minister Leo Varadkar feels the EU will have an advantage in the upcoming trade deal talks between the UK and the bloc. Varadkar used a sports analogy to explain the EU has a “stronger team” than Prime Minister Boris Johnson’s UK, due to its larger population and market size. The Irish PM is [...]
Coronavirus death toll hits 81 as cases spread January 27, 2020 The death toll from coronavirus climbed to 81 today as the Chinese government extended the Lunar New Year holiday while it struggled to cope with the outbreak. The number of confirmed cases rose roughly 30 per cent to 2,744, with about half of them in Hubei province, whose capital is Wuhan, where the outbreak is [...]
The new Downing Street team can’t afford to ignore business January 27, 2020 Political wisdom has it that the first hundred days of any new government is its most vital opportunity to set its agenda. Not so with this government. Having just racked up its first 50 days, it risks accusations of being coy by its lack of public visibility and the paucity of new policy proclamations since [...]