FTSE 100: Stocks muted as investors keep eye on Brexit talks and US-China trade war September 20, 2019 European markets have remained muted this morning as traders keep an eye on US-China relations and Brexit trade talks. European stocks opened quietly this morning, with the FTSE 100 and Dax both starting slightly down. Rolls Royce led the blue-chip fallers as shareholders wobbled over the company’s longer-than-expected problems with its Trent 1000 engines. Read [...]
Thomas Cook share price crashes as lenders demand extra £200m to seal rescue deal September 20, 2019 Thomas Cook’s share price plunged more than 15 per cent in early morning trading after it confirmed lenders are demanding an extra £200m as part of efforts to rescue the world’s oldest holiday company. The embattled travel operator said today that investors want £200m to finalise a restructuring strategy, coming on top of a further [...]
Investec warns on profits amid higher costs September 20, 2019 Anglo-South African business group Investec warned on its profits for the first half of 2019 this morning as challenges in its specialist UK banking business dragged down the group. The firm expects headline earnings per share to be roughly 15-18 per cent lower for the six months to 30 September, adding that it would take [...]
Pound falls back below $1.25 after earlier rising on Juncker’s Brexit comments September 20, 2019 The sterling has fallen back below the $1.25 barrier despite rising earlier today on hopes of a breakthrough in Brexit negotiations. The pound has fallen by 0.34 per cent to 1.248 on the back of a strong dollar, which in turn weakens the pound. The fall has undone some of the pound’s gains from yesterday [...]
By vowing to cancel Article 50, the Lib Dems are turning their backs on liberal democracy September 20, 2019 Liberalism has a proud history in European democracy. As a concept, liberal democracy has defined the West for over a century, but belief in the greater good can only come if the people decide what is good for them. For all the talk of bringing the country together, the Liberal Democrats are following the march [...]
The UK faces a bipolar economic outlook September 20, 2019 The fact that the UK’s economic prospects appear both bipolar and nebulous is a measure of the unique period that we are in. While Boris Johnson began his premiership in high energy, with the strong conviction that Britain would exit the EU by 31 October, this momentum has quickly evaporated. Earlier this month, MPs voted [...]
Nuance doesn’t go viral, but attacks on journalists certainly do September 19, 2019 The Supreme Court hearing that has made headlines this week is a case of the most profound constitutional importance. In the words of the government’s defence lawyer it invites judges into the “forbidden territory” of politics. Those taking on the government are convinced of their role as the defenders of liberty. The barristers appearing in [...]
Bank demand leaves Thomas Cook exploring options September 19, 2019 Thomas Cook is looking at its assets as it attempts to stave off demise, reports tonight say, after lenders demanded significant contingency funding. Sky News’ Mark Kleinman has been told by insiders that “every possible option” is on the table as they look to salvage some 20,000 jobs. Kleinman reports the 178-year-old holiday giant has [...]
No-deal Brexit could knock three per cent off UK growth, says OECD September 19, 2019 A no-deal Brexit could knock up to three per cent off British growth by 2022 and push the economy into recession next year, the OECD said today. Read more: UK economy on course to stagnate in the third quarter, says Bank of England governor The warning came as the intergovernmental economic organisation slashed its growth [...]
Brexit: UK submits ‘non-papers’ to EU September 19, 2019 The UK has submitted “non-papers” to the EU as part of renewed efforts to break the deadlock over Brexit. Pressure has been growing for Downing Street to put forward written proposals of alternatives to the Irish backstop, while the government has been holding out until the last minute for fear any suggestion would be “trashed” [...]