Oil prices fall amid uncertainty over US China trade deal October 14, 2019 Oil prices fell this morning amid uncertainty over the first phase of a trade deal between the US and China. Markets were lifted two per cent by optimism over a thaw in the frosty relations by the end of last week, but Brent Crude was down 1.11 per cent this morning, valued at $59.84 per [...]
Sterling slides as hopes of a Brexit deal falter October 14, 2019 Sterling has dropped half a per cent against the dollar this morning as traders limited their expectations of a Brexit deal. The pound surged at the end of last week when Irish Prime Minister Leo Varadkar said he saw a “pathway” to a “possible” agreement and EU chief negotiator Michel Barnier gave the green light [...]
Remember, remember, 6 November: Sajid Javid sets date for Budget 2019 October 14, 2019 Chancellor Sajid Javid has revealed the 2019 Budget will take place on Wednesday, 6 November and could contain a raft of emergency measures to help the economy in the event of no deal. If the UK does leave the European Union on the scheduled 31 October departure date, it will be the first post-Brexit budget, [...]
Markets have shown what a deal could yield October 14, 2019 This is the week in which it will become clear whether Boris Johnson’s government has secured an agreement with the European Union. If he has (and the signs are encouraging, if not yet cause for celebration) then he’s only half way out of the woods. MPs will sit on Saturday — the first weekend sitting [...]
In defence of my friend Dominic Cummings October 14, 2019 Everyone of a certain age who worked in New York or Washington has a 9/11 story; mine concerns Dominic Cummings. It was sometime early in the afternoon of the unforgettable, nightmarish day. Three planes had already slammed into the World Trade Centre Buildings and the Pentagon, inflicting their awful havoc. A fourth plane had been [...]
CFOs prioritise cost-cutting as uncertainty bites October 14, 2019 Finance chiefs are tightening their belts in an effort to weather the mounting storm of economic uncertainty. More than half of the UK’s most senior chief financial officers (CFO) are focusing on cost-control as a strong priority, marking the highest level since the end of the financial crash. Read more: Businesses can do more to [...]
Retail footfall down 10 per cent in seven years amid high street troubles October 14, 2019 The number of shoppers on the high street has dropped by 10 per cent over the last seven years, according to new data which underlines the current challenges facing physical retailers. Read more: Retailers brace for tough Christmas trading According to a new report from Springboard and the British Retail Consortium, retail footfall has decreased [...]
Exclusive: Queen’s Speech to include Financial Services Bill in bid to safeguard City October 14, 2019 Plans to safeguard the City’s global pre-eminence after Brexit will be laid bare today in the Queen’s Speech. City A.M. understands the government will include a Financial Services Bill in its legislation as part of an effort to ensure the sector stays at the forefront of international trading after it leaves the EU. Read more: [...]
IPO and M&A markets braced for further headache in 2020 October 14, 2019 Corporate dealmakers are bracing themselves for a further slowdown in business next year, with a new report forecasting a sharp slump in activity as geopolitical uncertainty mounts. Initial public offerings (IPO) and merger and acquisitions (M&A) are set to drop in both activity and value during 2020 amid trade wars and growing fears of a [...]
Longer prison sentences given out for tax evasion October 14, 2019 Prison sentence lengths for tax evasion rose by 10 per cent on average last year as the taxman pushed for tougher punishments to dodgng payments. The average sentence for the deliberate non-payment of tax rose to two years and seven months in 2018 – an increase of two months on 2017’s figures – according to [...]