Venture capital investment in fast-growing UK businesses surges October 10, 2019 Venture capital (VC) investment in fast-growing British businesses surged 19 per cent in the third quarter to over £2.4bn, new figures have shown, meaning the UK is on target to smash last year’s record investment levels. Over £7.4bn was invested by VCs in UK scaleup firms during the first nine months of 2019, almost equalling [...]
Brexit extension beyond Halloween ‘now priced in’ October 9, 2019 The chances of a Brexit deal appear to have ebbed further yesterday, with one government source telling City A.M. an extension was now “priced in” to their thinking. Neither side is willing to publicly admit defeat, for fear of being blamed, but Irish Taoiseach Leo Varadkar and EU negotiator Michel Barnier both said it would [...]
Disruptive no-deal scenario could weaken the UK equity market and pound October 9, 2019 UK equities and sterling could both suffer a double-digit hit to their value from a disruptive no-deal Brexit, according to a new financial stress test. In the event of a disorderly departure from the European Union, UK equity markets and the pound relative to the dollar could weaken by 15 per cent and 10 per [...]
Inmarsat set to win green light over $3.4bn private buyout October 9, 2019 A blockbuster buyout of British satellite giant Inmarsat looks set to go ahead after clearing a major hurdle this evening. Read more: Government warned SMES can’t live off ‘kind promises’ Inmarsat and its buyers have proposed a series of remedies, such as a pledge to keep the firm in the UK for several years as [...]
Majority of British drivers unaware of documents needed for no-deal Brexit October 9, 2019 Millions of British motorists are not aware they may be required to carry an insurance green card to drive in Europe after Brexit. UK citizens driving in the EU will need the card in the case of a no-deal Brexit to prove they have third-party insurance. Read more: Johnson facing cabinet revolt over a possible [...]
Government warned SMEs can’t live off ‘kind promises’ after Brexit finance council meeting October 9, 2019 The Federation of Small Businesses (FSB) has said small businesses can’t “live off kind promises for the future” after the UK leaves the EU after the first meeting of a new finance council designed to support small and medium sized enterprises (SMEs) secure lending post-Brexit. The finance council – made up of representatives from banks, [...]
General Election 2019: Get ready for the populist onslaught October 9, 2019 Parliament might have blocked the Prime Minister’s repeated efforts to go to the polls but everyone in Westminster is gearing up for a pre-Christmas election. Even ministers who still claim their top priority is to “Get Brexit Done” are unambiguously positioning themselves for a snap vote. The working assumption is that a General Election will [...]
Centrist Tories ‘reassured’ over no deal Brexit after Downing Street meeting October 9, 2019 One Nation Tories have been won over by the Prime Minister, after telling him it would be “unacceptable” to stand on a no-deal Brexit election pledge. Damian Green, who heads up the centrist caucus of around 80 MPs, met with Boris Johnson in Downing Street today along with colleagues Victoria Prentis, Gillian Keegan and James [...]
Is Brexit making Britain a bargain for foreign investors? October 9, 2019 The pound has been one of the biggest casualties of Brexit so far. Sterling has lost around 10 per cent of its value against the US dollar and the euro since the UK voted to leave the EU in June 2016 and shed 5 per cent versus the yen. It has lost over 16 per [...]
Bercow discussed Brexit plans with European Parliament head October 9, 2019 The president of the European Parliament spoke directly with Commons speaker John Bercow, telling him Brussels would back a Brexit extension if the final decision is put to UK voters. David Sassoli, who was in London yesterday, today told his fellow MEPs in Brussels that “not much progress has been made” in recent days. He [...]