LME to hike fees eight per cent next year October 16, 2019 The London Metal Exchange (LME) is set to hike its trading and clearing fees for the first time in five years in 2020. The historic exchange has said it will raise fees by eight per cent at the start of next year, as its owner, Hong Kong Exchanges and Clearing (HKEX), looks to regain some [...]
Poll: Most Brits want to honour Brexit referendum result October 16, 2019 A majority of people want the UK to respect the Brexit referendum result, according to a new poll. The Comres survey revealed today that 54 per cent of people wanted to respect the Brexit referendum result and leave the European Union, with 32 per cent preferring to remain. Read more: Britain would now vote to [...]
EU orders Broadcom to suspend business deals in competition probe October 16, 2019 Broadcom has been ordered to halt its deals with six major customers amid an investigation into whether the chipmaker abused its market position to hurt rivals in its television and modem market. The EU’s antitrust regulator is imposing interim measures to prevent any likely “harm” to competition, suspending certain business deals between the tech giant [...]
Brexit deal talks falter as deadline looms October 16, 2019 Brexit talks appear to have faltered this morning, with EU negotiators saying remaining issues cannot be solved at a technical issue. Bloomberg is reporting that Brussels has all but ruled out a deal at this stage, and has said “a new mandate from London is required”. However a Downing Street source played down this as [...]
Housing market ‘in limbo’ as London house prices drop 1.4 per cent October 16, 2019 London house prices booked a steep 1.4 per cent annual drop in August as UK house prices grew at a lower level than last year, according to the latest data. While UK house prices posted annual growth of 1.3 per cent to beat that of 0.8 per cent in July, growth dipped below last year’s [...]
Brexit secretary: New political declaration drafted October 16, 2019 Brexit secretary Steve Barclay has this morning confirmed a new political declaration with the EU has been submitted, as the UK government attempts to secure an 11th-hour deal. Speaking this morning before the Brexit committee, Barclay said changes to the Irish backstop meant it necessarily followed that “there would be changes to political declaration”. The Cabinet [...]
Falling fuel prices hold UK inflation at three-year low October 16, 2019 UK price inflation stayed at a three-year low in September, the Office for National Statistics (ONS) said today, below the Bank of England’s desired rate of two per cent. Read more: UK unemployment rises as Brexit fears hit jobs market The headline annual rate of price growth was 1.7 per cent last month, the same [...]
No-deal Brexit ‘threatens trade blockages and organised crime’ at Britain’s borders October 16, 2019 Britain’s border risks becoming snarled up in a no-deal Brexit because of low preparation amongst traders, new EU controls and a growing threat from organised crime, according to the National Audit Office. As few as 30 per cent of traders are adequately prepared for a no-deal Brexit, which would see £438bn worth of trade revert [...]
Sterling edges back as markets await outcome of Brexit talks October 16, 2019 Sterling has slipped against the dollar and euro as traders nervously wait to see whether Britain can secure a last-minute Brexit deal with the European Union. The pound was 0.12 per cent lower against the dollar by 8.10am UK time, buying $1.275. It had fallen 0.29 per cent against the euro to buy €1.154. Sterling [...]
Boris Johnson races against the clock to secure Brexit deal October 16, 2019 EU and UK negotiators have entered the last day of Brexit negotiations hoping to secure a deal before a key summit tomorrow. Prime Minister Boris Johnson is due to update the cabinet of the state of talks after they continued overnight. Read more: Negotiators burn the midnight oil as crunch EU summit looms Sterling surged [...]