Eurozone economy slows as Germany weakness continues August 5, 2019 Growth in the Eurozone economy softened in July as German output fell to a six-year low and the manufacturing sector continued to struggle, a closely-watched survey has shown. Read more: German investors grow gloomier over Iran and trade tensions Yet the area’s services sector posted solid growth as employment grew and pay rose, highlighting a [...]
HSBC CEO John Flint steps down from bank after just 18 months August 5, 2019 HSBC boss John Flint has fallen victim to a top-level reshuffle at the bank despite racking up a 16 per cent rise in first half profits. The firm said this morning it needed a change at the helm to deal with a “challenging global environment”. Flint, who has been chief executive for around a year-and-a-half, [...]
How the Anglosphere philosophy will fuel the new Prime Minister’s foreign policy August 5, 2019 It is often important to look at a leader’s idols for clues as to what makes them tick. British critics of Boris Johnson, rather than dismissing him as a cut-rate Winston Churchill tribute act, would do far better looking at what it is about the great man that so impresses the current Prime Minister. The [...]
The Brexit clock is ticking down again, and City businesses are crying out for certainty August 5, 2019 With the excitement of a new Prime Minister and so many changing faces across government, it is easy to overlook that we are now less than three months away from the next Brexit cliff edge. In other words, the risk of a no-deal Brexit is drawing dangerously close. And businesses need to prepare for that. [...]
UK public companies post worst performance in three years in second quarter August 5, 2019 UK companies posted the weakest set of results in three years in the second quarter of 2019. Analysis from the Share Centre shows revenues for UK public companies increased 1.6 per cent in the second quarter. Profits rose 3.1 per cent, driven by the top 40 multinationals which performed strongly. Read more: FTSE 100 sinks [...]
Remain-backing MPs say there is still time to block a no-deal Brexit August 4, 2019 Remain-supporting MPs have rejected reports that they have missed the chance to block a no-deal Brexit. Dominic Cummings, the architect of the Vote Leave campaign who is now the Prime Minister’s top adviser, is believed to have told ministers that MPs have run out of time to prevent the UK leaving the EU without a [...]
Starling to break even as bank customers double August 4, 2019 Starling Bank is set to break even in the UK by the end of 2020, its founder and chief executive has said, after revealing that its user numbers have doubled in the last eight months. In her annual letter, Anne Boden said the fintech firm’s account total – spanning both business and retail users – [...]
Andrew Bailey warns government to keep hands off the Bank of England August 4, 2019 A frontrunner in the race to become the next governor of the Bank of England has warned politicians not to meddle with its independence. Financial Conduct Authority (FCA) chair Andrew Bailey said the Bank’s independence was a “core underpinning” of economic stability, the Sunday Times reported. Bailey is among the favourites to take over in [...]
Stephen Barclay urges Barnier to seek new mandate for Brexit talks to avoid no deal August 4, 2019 EU leaders must give their chief negotiator Michel Barnier a fresh mandate to change the withdrawal agreement if they do not want to end up with no deal, Brexit secretary Stephen Barclay has said. Barclay, who kept his position in Boris Johnson’s Cabinet overhaul, said MEPs in the European Parliament had changed since the European [...]
Work and Pensions Committee chair Frank Field to stand against Labour in next election August 2, 2019 Work and Pensions Committee chair Frank Field is to fight for his seat at the next election against his former party, he said today. Field resigned the Labour whip last year, blaming the party’s problems with anti-semitism and accusing Labour of “intolerance, nastiness, and intimidation”. Read more: Labour MP Frank Field resigns, claiming party is [...]