Pessimism & reluctance April 17, 2020 A moment of nostalgia for sterling and relief for the euro. Sterling was not unduly worried this week, having a surprisingly successful week. Over the eight-day week it strengthened by an average of 0.5%, losing out only to the puzzlingly mismatched Australian dollar and Japanese yen. It added one euro cent and one and one [...]
Brexit and election uncertainty knock hole in Robert Walters’ UK profit January 9, 2020 Robert Walters’ share price dropped today as it revealed a huge 23 per cent dent to UK profits as a result of a rollercoaster year of political uncertainty in 2019. UK gross profit fell from £26.8m in the fourth quarter of 2018 to £20.7m in the corresponding period last year. Read more: Time too short [...]
No-deal Brexit Q&A: What happens if UK-EU trade talks fail? June 11, 2020 Post-Brexit trade negotiations between the UK and EU have stalled after four rounds, leaving both sides just months to avoid a no-deal scenario. Brussels’ EU negotiator Michel Barnier complained yesterday that the UK was trying to “cherry pick” benefits of EU membership without the responsibilities. Chief UK negotiator David Frost and senior cabinet members have [...]
The Week Ahead: Brexit, ECB rates, Rolls Royce, Ocado and Airbnb IPO December 7, 2020 City A.M. takes a look ahead at the main events shaping the markets this coming week, analysing what is to come with City insider Michael Hewson, chief market analyst at CMC Markets UK. Monday: Ted Baker When Ted Baker announced in June it was looking to raise over £100m at a discounted price of 75p [...]
Ireland and ex-top EU official disagree on UK trade deal timetable January 12, 2020 Ireland’s foreign minister has claimed a UK-EU trade deal will take more than a year to complete, putting him at odds with the European Commission’s former top civil servant. Boris Johnson has set a deadline of 31 December to thrash out a deal on the future trading agreement with the EU, after Britain leaves the [...]
EU Commission to open investigation into data usage by Google and Facebook December 2, 2019 The European Commission has begun a preliminary inquiry into Google and Facebook, and whether the two firm’s data usage complies with EU regulation. “The Commission has sent out questionnaires as part of a preliminary investigation into Google’s and Facebook’s data practices. These investigations concern the way data is gathered, processed, used and monetised, including for [...]
Brexit Day: What the biggest Leavers and Remainers had to say January 31, 2020 As the UK prepares to bring an end to its 47-year membership of the EU tonight at 11pm, here is how some of the major players reacted to Brexit Day today. British Prime Minister Boris Johnson: Johnson, who will release a video statement tonight, said: “Our job as the government – my job – is [...]
UK economy shrinks 20 per cent in April lockdown in worst ever month June 12, 2020 The UK economy shrank by a record 20 per cent in the first full month of lockdown as shops sent workers home to close for the duration of April. Activity in the UK economy contracted by 20.4 per cent in April, the Office for National Statistics (ONS) said today, marking the single largest monthly drop [...]
ECB’s Villeroy hints at closer EU integration after Brexit September 17, 2019 The governor of the Bank of France has suggested today that the European Union will move towards closer integration in the wake of Brexit. François Villeroy de Galhau, who is also a European Central Bank (ECB) board member, told business delegates in London that the bloc’s collective response to Britain’s departure might become a further [...]
Margrethe Vestager stays on in beefed up EU competition role in blow for tech giants September 10, 2019 Margrethe Vestager has retained her role as EU competition commissioner in a blow for Silicon Valley tech giants. Vestager, known for her formidable crackdown on tech firms, has also been appointed executive vice president tasked with making Europe “fit for the digital age”. Read more: EU antitrust chief Margrethe Vestager signals decision on Google Adsense [...]