Car production numbers post rise for the first time in 15 months September 26, 2019 Britain’s crisis-hit car manufacturing industry regained some speed in August, despite the threat of a “hammer blow” no-deal Brexit still looming. Car production rose 3.3 per cent in August to 92,152 units, the first increase in 15 months, according to the Society of Motor Manufacturers and Traders (SMMT). Read more: Car industry investment grinds to [...]
HSBC’s SME loan fund to double help for international businesses September 26, 2019 HSBC is set to double the amount ringfenced for international businesses in its small and medium-sized enterprises (SME) loans fund this year, with the help available for the agriculture sector also set to rise. The bank’s 2019 SME fund will total £14bn, a £2bn increase on last year’s figure and the largest fund since the [...]
PM calls for parliament to face ‘day of reckoning’ through no confidence vote September 25, 2019 Boris Johnson has thrown the gauntlet down to parliament, telling Labour and all the other opposition parties to put down a vote of no confidence in him, to force an election. The Prime Minister called for parliament to face its “day of reckoning”, as Labour MPs shouted “resign” and “you should be in jail”. Johnson [...]
Are UK supermarkets ready for Brexit? September 25, 2019 “One can say very clearly what the direction will be: higher prices, less choice, and poorer quality, because all of those dimensions have been improved by these open trading relationships that we’ve had over the last 40 years […] Brexit, almost in whatever version it is, will introduce friction, it will introduce barriers. That makes [...]
FDM Group taps Tech UK chair Jacqueline de Rojas to join board September 25, 2019 Recruitment firm FDM Group today said it has appointed tech titan Jacqueline de Rojas as a non-executive director. Read more: London overtakes New York to steal global fintech investment crown De Rojas, who is president of trade associations Tech UK and Digital Leaders, will join the board of the FTSE 250 firm from the beginning [...]
Sterling falls nearly one per cent against the dollar as UK’s constitutional crisis bites September 25, 2019 The pound fell 0.9 per cent against the dollar today as the UK’s constitutional crisis reached a new pitch following yesterday’s dramatic Supreme Court ruling. At 4pm £1 was trading at $1.2373, a fall of more than 0.9 per cent. The pound also fell 0.37 per cent against the Euro with £1 buying €1.1294. Read [...]
Hong Kong bourse ‘may increase’ £32bn offer for London Stock Exchange, says Swiss peer September 25, 2019 Hong Kong Exchange and Clearing (HKEX) will likely raise its blockbuster offer for the London Stock Exchange (LSE), according to the chief executive of a fellow bourse heavyweight. Swiss stock exchange boss Jos Dijsselhof has told City A.M. that he expects HKEX to up its current £32bn takeover proposal for its London counterpart, but he remains convinced [...]
Oasis and Warehouse profit rises as retailer mulls cuts September 25, 2019 Oasis and Warehouse Group reported a return to profit in its latest full-year results as the retailer prepares to cut jobs and contracted hours across its store portfolio. The high street chain said this morning that profit before tax was £1.6m, compared to a loss of £10.1m the previous year. Total sales were up 6.5 [...]
Government hints at election, prorogation and Brexit extension September 25, 2019 The Attorney General has hinted that the government may be poised to seek an election for a third time, during a fiery opening session after parliament reconvened. Answering questions in the wake of yesterday’s Supreme Court judgement that the original suspension was “unlawful, void and of no effect”, Geoffrey Cox told MPs the government would [...]
Deutsche Bank CEO: Central banks lack tools to prevent economic crisis September 25, 2019 The turnaround boss of Deutsche Bank struck a gloomy tone over the future of the world economy today, warning that central banks have already “turned on the money tap to the limit” and forecasting that the current US-China trade war will persist. Christian Sewing, who is chief executive of the struggling German lender, told banking [...]