Cobra Beer founder Lord Karan Bilimoria talks curry and craft beer culture September 24, 2018 Britain loves beer. This might not be good for our wallets or our waistlines, but it’s true nonetheless. And perhaps no one knows this truth more than Lord Karan Bilimoria, founder and chairman of Cobra Beer. Cobra (slogan: “impossibly smooth”), has become something of a British institution. Not only can you find it in [...]
How to turn the Chequers rat into a lovable Brexit hamster September 24, 2018 It has been said that a rat just is a hamster with a PR problem. Both share many of the same fundamental characteristics – but one people want to look after, and the other they want to kill. Since its uneasy formation, Theresa May has hoped that her Chequers plan could become the Brexit [...]
Revolut to bid for fresh European licence as it reveals losses September 24, 2018 Fintech powerhouse Revolut has revealed its post-Brexit strategy amid the publication of its 2017 financial accounts, which put a heavy spotlight on the banking app’s operational losses. Primarily, a spokesperson for the London startup confirmed to City A.M. it had applied for a second e-money licence in Luxembourg, in addition to its 2017 application for a [...]
Brexiters set to reveal an alternative to Chequers September 24, 2018 Pro-Brexit MPs will today throw their weight behind a detailed alternative to the Prime Minister’s ill-fated Chequers proposals. Earlier this month City A.M. revealed that former Brexit secretary David Davis was backing an alternative Brexit plan, which has been produced by trade expert Shanker Singham – head of the International Trade and Competition Unit at [...]
UK export growth tumbles to lowest level since Brexit vote September 24, 2018 UK export growth fell for the sixth consecutive quarter to its lowest level since the Brexit vote, it has been revealed today. A study by accountancy and business advice firm BDO found that export growth in the UK had “slowed significantly”, performing the worst out of Europe’s five largest economies – placed behind Germany, France, [...]
Bumper rise in US takeovers of UK businesses as EU interest wanes September 24, 2018 The value of M&A deals in which US companies took over UK business has more than doubled in the past year, as takeovers by EU-based companies slipped. In total, the value of US takeovers in the year to the end of June this year skyrocketed from £36.8bn in 2016/17 to £79bn the past year, analysis [...]
Labour opens new front in party’s war on business September 23, 2018 Labour's party conference is getting underway in Liverpool, and the various factions of the hard-left are already putting on a good show as they compete for control of the agenda. The trade unions used their voting power to block a bid by Momentum activists to force sitting MPs to face reselection challenges; members demanding [...]
Brexit secretary Dominic Raab rejects rumours of snap general election September 23, 2018 Brexit secretary Dominic Raab has ruled out general election in the autumn, saying rumours are "for the birds". The Sunday Times reported this morning that Theresa May's team was plotting a snap general election to shore up public support for her Chequers plan in the wake of her disastrous Salzburg summit in which EU leaders roundly [...]
Labour leadership to ‘back members’ on second Brexit vote September 23, 2018 Jeremy Corbyn and his deputy Tom Watson have said they will back another EU referendum if party members call for one. The Labour leader said he would "adhere to" any decision made at the party's annual conference today in Liverpool. But he told the Sunday Mirror he was not specifically calling for a new vote. “What [...]
Brexit: Sterling falls further as Theresa May says UK-EU negotiations are at an impasse September 21, 2018 Theresa May said Brexit negotiations are at an impasse today, in a speech where she called for “respect” following Brussels’ snub to her Chequers plan yesterday. Her speech accelerated sterling's losses, with the pound dropping from 1.33 against the US dollar at the start of the day to 1.31 following her talk, and from 1.13 to [...]