US regulator threatens retaliation over EU’s Brexit derivatives plans October 18, 2018 A US regulator yesterday warned it will retaliate if the EU pushes ahead with “irresponsible” regulations to let European authorities supervise US clearing houses. The proposals, which would also limit the City of London’s function as a clearing hub, were put into motion after the UK voted for Brexit. Christopher Giancarlo, chair of the US [...]
Rics: Construction industry grows amid buoyant workload levels October 18, 2018 The UK’s construction sector remains buoyant in the wake of rising workloads and a renewed growth in infrastructure activity, according to a closely-followed survey from the Royal Institution of Chartered Surveyors (Rics) out today. In the last three months 20 per cent more chartered surveyors reported a rise rather than a fall in their workloads, [...]
Dominic Raab seeks to scupper MPs’ ‘meaningful vote’ on Brexit October 17, 2018 MPs will face a straight 'deal or no deal' vote on any agreement struck with the EU, Brexit secretary Dominic Raab has claimed in a blow to those hoping to reopen negotiations. In a letter to the Commons procedural committee, Raab spelled out that any motion relating to the Brexit agreement must deliver an “unequivocal [...]
Theresa May to hold conference call with 150 business leaders October 17, 2018 Theresa May will hold a conference call with 150 CEOs on Friday to brief them on the state of the Brexit talks. The call is part of a charm offensive of the business community following a fractious period – summed up by former foreign secretary Boris Johnson claiming “f*** business” when it came to the [...]
Bank of England talks with EU continuing as it urges no-deal Brexit preparation October 17, 2018 A top Bank of England official today said talks are continuing with EU regulators to try to persuade them to allow British clearing houses to serve clients on the continent as he warned that job losses in the City will be larger than 5,000 expected by “day one” of Brexit. Sir Jon Cunliffe said that [...]
Jeremy Corbyn slaps down Emily Thornberry for using Brexit to defend John Bercow October 17, 2018 Jeremy Corbyn today slapped down one of his closest allies for using Brexit to defend under-fire Speaker John Bercow – but stopped short of calling for him to quit. On Monday, shadow foreign secretary Emily Thornberry said with Parliament set to play a key role in the Brexit process it was “absolutely not the time” for the Speaker to step [...]
Ryanair boss warns planes could be grounded for up to three weeks in event of hard Brexit October 17, 2018 Ryanair boss Michael O'Leary has said a hard Brexit could ground planes for up to three weeks as the prime minister heads to Brussels for a crunch meeting with EU leaders to break the impasse in the negotiations. O'Leary said that while the grounding of planes for a "week, two weeks, three weeks" would be "painful", [...]
US says it wants to start trade talks with the UK ‘as soon as it is ready’ following Brexit October 17, 2018 The US said last night it wants to start trade talks with the UK as soon as possible after Brexit. The US trade representative’s office told Congress it wants to negotiate new trade deals with the UK, EU and Japan. “We will continue to expand US trade and investment by negotiating trade agreements with Japan, [...]
Housebuilder Crest Nicholson issues profit warning blaming tough market conditions October 17, 2018 Housebuilder Crest Nicholson has issued a profit warning and announced that its chief financial officer (CFO) is leaving the business. It is the housebuilder’s third profit warning in two years with the company blaming the difficult market and the uncertain political environment. Read more: Profits surge at housebuilder Bellway but Brexit caution lingers The FTSE [...]
It’s time for Theresa May to use her secret Brexit weapon: business October 17, 2018 Two weeks ago, I was in Birmingham among my fellow Conservatives awaiting Theresa May’s closing conference speech. I expected her to take a strong stance on the Chequers-based plan for Brexit and finally call upon her most valuable and underused supporters – business leaders – to champion her vision, not least because I and my [...]