Car manufacturers warn no-deal Brexit would hit UK production October 2, 2018 A number of leading car manufacturers have warned a no-deal Brexit could seriously impact the production of their vehicles in the UK. Toyota has said a no-deal Brexit is likely to impact its investment decisions. It follows the manager of its facility in Burnaston, Derby warning a no-deal Brexit would lead to the factory halting production, [...]
Theresa May’s vision-free approach is alienating us all October 2, 2018 An opening day Conservative conference speech by former CBI Director-General Digby Jones might not have been expected to diagnose the Prime Minister’s key weakness. But defending Theresa May’s Brexit approach, the former Labour minister unwittingly exposed the reason that the Prime Minister has alienated much of her party: she is a vision-free zone. Riffing off [...]
Theresa May: We’ll prioritise skilled immigration after Brexit October 2, 2018 Theresa May plans to prioritise immigrants’ skills, rather than their country of origin, in a post-Brexit shake-up of the visa system. The Prime Minister will focus on tackling low-skilled immigration and place more value on those with skills desirable to British businesses, following a recommendation from the Migration Advisory Committee (Mac). Read more: 'Frictionless' immigration [...]
City minister calls for ‘frictionless’ immigration rules for financial sector after Brexit October 1, 2018 City firms need "frictionless" access to overseas workers after Brexit, according to a Treasury minister who called immigration a "force for good". Speaking during a debate on the shape of the the UK's future immigration policy, City minister John Glen talked up the importance of the financial sector being able to fill gaps in key [...]
British banks ‘resilient’ even in no-deal Brexit, says Moody’s October 1, 2018 Britain’s banks have grown more “resilient” to shocks despite an increased likelihood of a no-deal Brexit, an influential credit ratings agency said today. Moody’s Investor Service said the UK banking sector has a “stable” outlook in spite of an expected decline in economic growth, in a report published today. Profitability for British lenders will improve [...]
Banco Santander issues warning on impact of Brexit uncertainty October 1, 2018 Spanish lender Banco Santander has warned that the uncertainty surrounding the UK's exit from the EU is likely to have an adverse impact on the bank's operations. In a filing to the US Securities and Exchange Commission, the bank said that the lack of clarity on the Brexit deal for financial services and the status of [...]
Aldi may drop prices to compete with Tesco’s new budget venture Jack’s October 1, 2018 Low-cost supermarket chain Aldi "will never be beaten on price", and could even drop them in response to Tesco's new low-cost venture Jack's, it said today. UK and Ireland chief executive Giles Hurley said Aldi welcomes competition from new players such as Jack's, adding: "If we need to reduce retail prices we will." Read more: Drastic Dave's no-frills move must [...]
Philip Hammond says Tories are the ‘party of business’ as he takes the fight to Jeremy Corbyn October 1, 2018 Philip Hammond tried to paint the Conservatives as the "party of business" today as he launched a sustained attack on the Labour Party's plans for the economy. Speaking at the Tory conference in Birmingham, the chancellor urged his party to put on a united front to defeat Jeremy Corbyn – arguing Labour's plans would threaten [...]
Brexit secretary says Chequers plan is not ‘perfect’ as he urges Tories to back the proposal October 1, 2018 Brexit Secretary Dominic Raab today admitted the Prime Minister's EU negotiating plan is not perfect as he appealed to his fellow Tories to back the so-called Cheques proposal. Speaking at the Conservative Party conference in Birmingham, Raab claimed eurosceptics would have "bitten my arm off" before the 2016 referendum for the deal he and other [...]
Sterling finds strength from higher UK manufacturing growth October 1, 2018 Sterling climbed on the back of stronger UK manufacturing growth this morning. The pound was up 0.1 per cent against the US dollar at 1.304 and close to 0.4 per cent compared to the euro at 1.125. Read more: British manufacturing output growth weakens as exports slow Manufacturing posted a “mild” improvement in output at [...]