Exclusive: Government plan to invoke EU law’s supremacy to ensure Brexit on Halloween September 26, 2019 The government believe it is possible to circumvent parliamentary legislation requiring them to delay Britain’s departure from the EU by invoking European law, City A.M. understands. Under the hastily-passed Benn Act, the Prime Minister must write to the EU seeking an extension to Article 50 if no Brexit deal secures parliamentary approval by 19 October. [...]
Pound staggers as Bank of England hints at interest rate cut September 27, 2019 Sterling fell today as a top official at the Bank of England flagged a possible interest rate cut to offset continued Brexit uncertainty. The pound fell to its lowest value against the dollar in almost three weeks as BoE official Michael Saunders said the Bank may lower interest rates. “Quite why this is moving the [...]
Heathrow third runway plans ruled ‘unlawful’ as legal challenge upheld February 27, 2020 Heathrow Airport’s third runway expansion has stalled, after a challenge in the high court was upheld in the Court of Appeal. The court found that the government’s policy statement for the third runway was “unlawful” as it did not take into account the government’s commitment to the Paris Climate Agreement, a challenge brought by mayor [...]
Justice secretary Robert Buckland evades questions over prorogue plans September 17, 2019 Justice secretary Robert Buckland has refused to say whether parliament would be recalled if the Prime Minister loses at the Supreme Court this week. Two separate legal cases challenging the legality of Boris Johnson’s move to prorogue parliament for five weeks are being heard in Westminster. Former Prime Minister Sir John Major is among those [...]
Boris Johnson denies impropriety in relationship with Jennifer Arcuri September 23, 2019 Prime Minister Boris Johnson today denied any impropriety in his dealings with a friend who received thousands of pounds in grants when he was mayor of London. The Sunday Times said US tech entrepreneur Jennifer Arcuri – a friend of Johnson – had received thousands of pounds in sponsorship grants and had received preferential treatment [...]
President Trump weighs ousting of commerce secretary Wilbur Ross July 15, 2019 One of the most senior financial figures within Donald Trump’s administration could be pushed out within weeks, according to US media reports. Read more: Trump 2020? Firms haven’t felt this gloomy since the financial crisis Wilbur Ross, the commerce secretary and prominent investor, is reportedly in President Trump’s firing line after losing a Supreme Court [...]
For businesses relying on EU tax directives, what happens after Brexit? January 23, 2020 Businesses are currently eager to know what shape any post-Brexit trade agreement with the EU will take and what tariffs or other barriers might apply to goods and services. However, when considering financing operations and investment abroad, businesses also need to look at the EU tax directives that facilitate cross-border financing flows. A repeated question [...]
FTSE 100 slides as Brexit and impeachment worries hit markets September 25, 2019 Britain’s FTSE 100 benchmark is braced for its worst day in a month after dipping this morning following dramatic political developments on both sides of the Atlantic yesterday. The blue-chip index opened 0.5 per cent down before sliding further to almost 0.9 per cent, with investors fearing news of an official impeachment inquiry into president [...]
For richer or for poorer? The economic case for marriage is worth remembering December 4, 2019 An important piece of social news emerged last week. According to the Office for National Statistics, the divorce rate in 2018 fell to its lowest level for nearly 50 years. The overall trend is clear and well-established. The divorce rate rose steadily from the late 1950s, with sharp rises immediately following the Divorce Act of [...]
Beware the corona crisis power grabs April 1, 2020 IN THE midst of the financial crisis of 2008, Rahm Emanuel, soon-to-be chief of staff for US President-Elect Barack Obama, famously announced that “You never want a serious crisis to go to waste. And what I mean by that is an opportunity to do things that you think you could not do before.” Emanuel was [...]