How can it be both the best of times and the worst of times for markets? September 12, 2019 As the sleepy months of late summer fade away, investors put down the classics and pick up the financial pages as markets resume their usual commotion of activity. We should use it to reflect on what has been a great year for investors, despite the recent market wobbles. Indeed, equities continue to rally, with the [...]
Belfast judge rules PM’s prorogation lawful September 12, 2019 The High Court in Belfast has ruled the Prime Minister’s decision to prorogue parliament was lawful, and would not damage the peace process in Northern Ireland. A judge dismissed the case on all grounds on Thursday. It is one of a series challenging Boris Johnson’s Brexit strategy, and follows a landmark ruling by Scottish judges [...]
Brooks Macdonald ‘reinforcing foundations’ as it reports funds and profit growth September 12, 2019 Wealth management firm Brooks Macdonald has reported full-year growth exceeding expectations, in a rare glimmer of light for a sector that has been struggling to stem the flow of client outflows. The company reported a profit before tax of £21m for the year ending 30 June, an 11.8 per cent increase on the previous year. [...]
No deal Brexit to force up cost of wine, industry warns September 12, 2019 A no-deal Brexit could push up the price of wine after the government rowed back on promises to suspend paperwork, the industry has warned. Additional red tape will have to be introduced after the UK leaves the European Union, which is expected to cost the country’s wine businesses £70m. Following a meeting with the Wine [...]
Boris Johnson denies lying to Queen over prorogation September 12, 2019 The Prime Minister has denied lying to the Queen about the reasons for proroguing parliament. Boris Johnson told reporters claims that it was “absolutely not” true he had made a false representation to Her Majesty when he sough the five-week suspension. Yesterday a Scottish court argued that the prorogation was “unlawful” and that the principal [...]
Share boost for audio firm Focusrite as it dials up revenue forecast September 12, 2019 Shares in audio equipment manufacturer Focusrite rose more than six per cent this morning after it forecast full-year revenue ahead of expectations. Read more: Audioboom posts revenue surge as it doubles down on original podcasts Focusrite, which makes studio equipment such as microphones and equalisers, said it expected revenue of roughly £84m, up from £75.1m [...]
How much stimulus will the ECB deliver? September 12, 2019 A great showman always leaves people wanting more. In his penultimate showpiece, ECB chief Mario Draghi may do exactly that. Expectations ahead of the European Central Bank (ECB) meeting are running very high. Whilst it seems the ECB will throw the kitchen sink at slow growth and persistently lacklustre inflation, markets seem to want the [...]
John Lewis swings to a loss and flags no-deal Brexit fears September 12, 2019 Troubled high street chain John Lewis reported its first-ever half-year loss this morning, striking a gloomy tone amid fears of a no-deal Brexit. The retail giant, which owns both John Lewis department stores and Waitrose, warned that leaving the European Union without a deal would have a “significant” impact on the group. Read more: Retail [...]
Germany to tumble into recession, says Ifo think tank September 12, 2019 A respected German think tank has predicted that Germany will fall into a recession in the third quarter and has slashed its 2020 growth forecast for Europe’s biggest economy. Read more: ECB’s Mario Draghi set to inject stimulus into Eurozone economy – but will it work? The Ifo Institute today predicted the German economy will [...]
Brexit jitters dent hopes of a rise in London house sales September 12, 2019 Sales activity in London’s subdued housing market is expected to slip deeper into negative territory over the coming months, according to a closely-followed industry survey released this morning. Brexit uncertainty has caused growing hesitation among buyers and sellers, the Royal Institute of Chartered Surveyors (Rics) has warned, with the outlook for property sales weakening in [...]