Prosperity or pound shop? Our free trade future awaits August 9, 2019 Like most of us, I’ve been watching the new government in the UK with interest – and no small measure of anxiety. As it became clear that Boris Johnson would emerge as the new PM, it also became clear that there would be a sharp change in government policy across the board. Theresa May, for [...]
Into the red: UK economy shrinks for first time in seven years August 9, 2019 The UK economy contracted for the first time since 2012 in the second quarter of the year as the unwinding of Brexit stockpiling and global trade tensions damaged growth, official figures showed today. UK GDP shrank by 0.2 per cent in the second quarter compared to the previous quarter, the Office for National Statistics (ONS) [...]
UK travel company On The Beach share price slumps after profit warning August 9, 2019 Shares in UK travel company On The Beach have tumbled by over 16 per cent this morning after it warned its profits this year will be lower than expected. It said the tumbling pound and Brexit uncertainty are hurting its business model. Read more: Thomas Cook: How did it end up like this? As a [...]
John McDonnell has put a nationalist cat among the Scottish pigeons August 9, 2019 Labour has a problem – and for once it isn’t antisemitism. This time, it’s second-in-command John McDonnell, who this week defied party policy and threw a spanner in the constitutional works by declaring that he backed allowing Scotland to vote again on independence. Speaking at an event at the Edinburgh Fringe (a festival more commonly [...]
Independent central banks are under threat once more August 9, 2019 Being just a couple of decades old, the widespread adoption of independent central banks is relatively new to the world. Yet this is a role which now needs to adapt to a world whose politics is changing very fast. Different inflation objectives and tools have been discussed plenty of times before, but as the objectives [...]
Top investment bank fees slide across the board in 2019 amid deals slowdown in Europe and US August 9, 2019 Fees at all but one of the world’s 20 largest investment banks tumbled in the first half of 2019, as fewer mergers in Europe and a global slowdown in initial public offerings (IPO) dented corporate pay cheques. Europe’s investment banks earned a combined $13.3bn (£11bn) worth of fees in the first half of 2019, plunging [...]
Short-sellers raise eyebrows but they have their place August 9, 2019 Here’s a reasonable statement: “For markets to work properly and efficiently, all parties need access to accurate information.” This claim can be found in the ‘About Us’ section of the website of Boatman Capital Research, but the philosophy does not extend to providing information about their own identity. Boatman Capital, the anonymous short-seller research outfit, [...]
End of austerity? Chancellor fast-tracks spending review ahead of Brexit deadline August 8, 2019 Sajid Javid is making his first major intervention as chancellor, with a move that could turn on the spending taps in Whitehall. The Treasury has begun a fast-tracked spending round for all government departments, which will be completed in September, well in advance of the looming Brexit deadline of 31 October. Once complete, departments and [...]
Boris Johnson reveals immigration overhaul to attract ‘brightest and best’ after Brexit August 8, 2019 Boris Johnson has announced immigration shakeup that would see the cap on the number exceptional talent visas scrapped to attract the “brightest and best” to the UK. The Prime Minister said a new fast-track visa route would allow Britain to attract world-class specialists in science, technology and engineering after it leaves the European Union. Read [...]
The EU should not underestimate the City’s status August 8, 2019 Just how much is a reputation worth? As the UK prepares to leave the EU, status could be key for the City. A report published today by the Central Bank of Ireland found that even in the worst Brexit scenario, London will remain a leading global financial centre – and the biggest in Europe. The [...]