Barclay urges compromise as he likens Brexit talks to Good Friday Agreement September 19, 2019 Brexit secretary Stephen Barclay has urged negotiators on both sides to compromise, comparing the situation to the background that led to the Good Friday Agreement. Speaking in Madrid today, Barclay called for “creativity and flexibility” to avoid a no deal Brexit by addressing the ongoing problems around the Irish backstop. He quoted Lord Trimble, one [...]
UK retail sales unexpectedly fall in August September 19, 2019 UK retail sales fell in August as British shoppers bought fewer goods than in July, defying expectations of zero growth in a worrying sign for the UK economy. Read more: Cheaper computer games drag down UK inflation to three-year low The quantity of goods bought in August fell by 0.2 per cent month on month [...]
Ryanair suffers shareholder revolt over pay report September 19, 2019 Ryanair is in the grip of an investor revolt after half of shareholders voted against a bonus scheme for boss Michael O’Leary that could see him earn £88.56m over five years. Just over 50 per cent of the airline’s shareholders voted for Ryanair’s remuneration report, in which Ryanair was seeking approval for a new long-term [...]
City Pub Group to scale back acquisitions amid Brexit worries September 19, 2019 One of the UK’s listed pub chains signalled it would scale back on buying new establishments as the company waits for the Brexit storm to blow over. City Pub Group said this morning it will “take a much more prudent and even more selective” approach to acquisitions. Read more: High spirits: City Pub Group cheers [...]
Saga profits slump as travel business wanes September 19, 2019 Saga posted a sharp fall in profits during the first half of this year, as challenges in its travel business dragged down the over-50s tourism and insurance giant. Pre-tax profits at the firm tumbled year-on-year by more than 50 per cent from £109.7m to £52.8m. Read more: Lloyd’s of London bosses ‘devastated’ at company misconduct [...]
DEBATE: Are MPs on right that UK firms need more robots? September 19, 2019 Are MPs on the Beis committee right to say that British businesses have too few robots? YES, says Chetan Dube, chief executive at IPsoft Whether it’s a physical robot or digital colleague, MPs on the business, energy and industrial strategy (Beis) committee are absolutely right that UK businesses need to step up their automation efforts [...]
The west can no longer afford to ignore Iranian aggression September 19, 2019 The most curious question about last weekend’s destruction of Saudi Arabian oil infrastructure was not who carried it out, or even how, but why it occurred at this particular juncture. Saudi Arabia and Iran – the almost-certain aggressor given both intent and ability to carry out such an attack – have been shadow boxing with each [...]
The Tories should be the natural party of immigration September 19, 2019 For many years, the Tory party has had an obsession with immigration – and, more to the point, cutting it. Thanks to David Cameron’s misguided pledge to bring net migration down to the “tens of thousands”, the party has thrown both economic evidence and its core philosophy out the window in pursuit of that unreachable [...]
Bank of England holds interest rates at 0.75 per cent and warns over Brexit delay September 19, 2019 The Bank of England has kept interest rates on hold at 0.75 per cent and warned of the effects of another Brexit delay on the economy. Read more: US Federal Reserve cuts interest rates by a quarter point The unanimous decision by the Bank’s monetary policy committee (MPC) came despite the US Federal Reserve lowering [...]
London Calling: London holds on to number two slot in financial centres ranking September 19, 2019 London has clung on to second place in a respected ranking of the world’s top financial centres but its position in the top tier is under threat amid Brexit chaos and other global geopolitical shifts. According to the latest financial index published by researchers at consultancy Z/Yen, London has retained its number two spot behind New York following a year dominated by geopolitical uncertainty and a US-China [...]