Boris Johnson’s Brexit deal could inflict ‘£70bn hit’ on UK economy October 30, 2019 The UK economy could suffer a £70bn hit from Boris Johnson’s Brexit deal, according to a new report from an influential think tank. New research from the National Institute of Economic and Social Research (Niesr) has claimed that GDP in 10 years would be 3.5 per cent weaker under Johnson’s deal than if Britain were [...]
De La Rue share price plunges as it issues profit warning October 30, 2019 De La Rue’s share price crumbled today after it warned investors that full-year profits would fall “significantly lower” than current market expectations. Britain’s former passport maker also warned that adjusted operating profit for its half-year to the end of September would only be in the low-to-mid single digits. Read more: De La Rue appoints turnaround [...]
Fiat Chrysler and PSA enter merger talks to form $50bn car maker October 30, 2019 Car manufacturer Fiat Chrysler has confirmed “ongoing discussions” are taking place with Peugeot and Vauxhall owner PSA over a potential merger. The tie-up could create a $50bn (£40bn) company if the automotive behemoths pull it off. Read more: Fiat Chrysler defies global car industry woes to trump analyst forecasts Fiat Chrysler had abandoned an earlier [...]
Boris Johnson expects a ‘tough election’ October 30, 2019 Boris Johnson has said he is prepared to fight a “tough” election after parliament agreed to a 12 December snap poll yesterday. Opposition parties granted the Prime Minister a general election after voting against previous attempts on several occasions. Read more: It’s on: Christmas election to decide fate of Brexit…maybe The bill, setting out the [...]
UK charges drag down profit at Santander October 30, 2019 Santander’s net profit slumped during the third-quarter as one-off charges in the UK blighted Europe’s biggest lender. The Spanish bank reported attributable profit of €501m (£432m) in the last three months, diving 75 per cent when compared to the same quarter a year ago. Read more: UK banking sector coughs up £40bn in tax Brexit [...]
The real question is: socialism, yes or no? October 30, 2019 Three and a half years after the Brexit referendum and two and a half years since the last General Election, voters will be invited back to the polling booths on 12 December to shake the parliamentary snow globe once again. An election isn’t required by law until May 2022 — imagine that — but the [...]
The economic impact of Brexit tariffs only tells us half the story October 30, 2019 Brexit is about much more than the economic costs and benefits, but the idea that the former dramatically outweigh the latter has become the received wisdom in much of the media. Report after report emerges which purports to show that, under any of the various trade arrangements envisaged, the UK will be worse off as [...]
London homes take longer to sell than other UK cities October 30, 2019 Property owners seeking to sell their homes in London could be forced two wait an extra two weeks compared to other major UK cities, as the capital suffers from weak market conditions. Residential properties now take 14.5 weeks to sell, more than one month longer than it took to complete a sale in 2016. Read [...]
Two surveys say business confidence plumbing depths on Brexit crisis October 30, 2019 Two surveys of UK business leaders published today show plunging confidence as the country’s political crisis drags on. Accountancy firm BDO found business leaders in the UK were the least confident of any major European country, with two thirds of respondents believing the economic climate will deteriorate over the next six months and only 10 [...]
Starling Bank launches euro debit card in challenge to Revolut October 30, 2019 Digital challenger Starling Bank has today launched a business euro account and a dual-currency debit card as it steps up preparations to expand into Ireland, in a challenge to fintech giant Revolut. Customers with Starling Bank debit cards will now have the option to spend directly in pounds or euros using a single card. Its [...]